Company: AAPI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001477932-25-002341
Chunk: 31

Company: Apple iSports Group, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 1
Chunk 31
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 Stock. As of December 31, 2024, there were 608 holders of record of the Common Stock.

Preferred Stock:

Our Articles of Incorporation, as amended, authorize the issuance of up to 50,000,000 shares of Preferred Stock. The Company has not yet issued any of its Preferred Stock.

Dividend Policy

The Company has not declared or paid any cash dividends on its Common Stock and does not intend to declare or pay any cash dividend in the foreseeable future. The payment of dividends, if any, is within the discretion of the Board of Directors and will depend on the Company’s earnings, if any, its capital requirements and financial condition and such other factors as the Board of Directors may consider.

Securities Authorized for Issuance under Equity Compensation Plans

On November 1, 2024, the Board of Directors (“Board”) approved the creation of a 2024 Stock Incentive Plan (“2024 Stock Plan” or “Plan”) on terms and conditions to be approved by the Board of Directors. The Board authorized a total of 15,000,000 shares of common stock to be granted under the Plan for the benefit of employees, officers, directors, and consultants, as well as the grant of a total of 10,275,000 stock options under the Plan subject to formal agreements between the grantees and the Company. The 2024 Stock Plan will allow for the grant of stock options and restricted stock awards. 

On December 20, 2024, the Board of Directors formally approved the 2024 Stock Plan and increased the number of shares of common stock under the Plan to 20,000,000. In addition, it approved the grant of an additional 5,000,000 stock options for a total of 15,275,000 stock options under Plan, although no formal agreement between the Company and grantees has been approved by the Board of Directors. 

On March 12, 2025, the Board approved an amendment of the Company’s 2024 Stock Incentive Plan to increase the shares issued under the plan from 15,000,000 to 20,000,000 shares of common stock. On that same date, the board approved stock option grants totaling 15,275,000 shares of common stock with an exercise price of $0.25 per share. The effective date of the stock option grants to the grantees was January 15, 2025.

Recent Sales of Unregistered Securities

None.