Company: AAPI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001477932-25-004015
Chunk: 32

Company: Apple iSports Group, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 2
Chunk 32
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 a change of control transaction pursuant to a Stock Exchange Agreement (the “Stock Exchange Agreement”), with AiS and the shareholders of AiS. The stock exchange was accounted for under the business combination under common control of accounting. Consequently, the assets and liabilities and the historical operations that are reflected in the financial statements prior to the stock exchange are those of AiS and the Company combined and are recorded at the historical cost basis and the condensed consolidated financial statements after completion of the stock exchange include the combined assets and liabilities of AiS and the Company from the closing date of the stock exchange. As a result of the issuance of the shares of our common stock pursuant to the stock exchange, a change in control of the Company occurred as of the date of consummation of the transaction.

Our address is 100 Spectrum Center Dr. Suite 900, Irvine, CA 92612, and our phone number is (949) 247-4210. We also maintain satellite offices at offices at Level 1, Paspalis Centrepoint, 48-50 Smith Street Mall, Darwin NT 0800 Australia and Lonsdale Street, Level 7, Melbourne, Australia 3000. In addition, as mentioned, we have two websites (which do not form a part of this filings): www.appleisports.com in the U.S. and www.appleisports.com.au in Australia.

 6Table of Contents

Our corporate structure is depicted below:

Results of Operations

For the Three Months Ended March 31, 2025 Compared to the Three Months Ended March 31, 2024.

Revenues

During the quarters ended March 31, 2025 and 2024, the Company had no revenues. 

Operating Expenses

During the quarters ended March 31, 2025 and 2024, the Company had total operating expenses of $3,196,629 and $729,361, respectively. During the quarter ended March 31, 2025, operating expenses consisted of corporate expenses of $131,772, consulting, and professional fees of $3,033,876, and selling, general and administrative expenses of $2,597,676. During the quarter ended March 31, 2024, operating expenses consisted of corporate expenses of $138,992, consulting, and professional fees of $473,094, and selling, general and administrative expenses of $117,275. The 338% increase in operating expenses for the current quarter over the prior quarter is primarily due to an increase in selling