Company: AAPI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001477932-25-004015
Chunk: 15

Company: Apple iSports Group, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 operating loss carry forward offset is limited to up to 80% of the taxable income. The State of Delaware net operating loss carryforwards are available for carry forward for 20 years for use in offsetting taxable income. Realization of the future tax benefits is dependent on the Company’s ability to generate sufficient taxable income within the carry-forward period. There is no income tax benefit for the losses for the three months ended March 31, 2025 and 2024, since management has determined that the realization of the net tax deferred asset is not assured and has created a valuation allowance for the entire amount of such benefits. 

NOTE 7. STOCKHOLDERS’ DEFICIT The Company’s Articles of Incorporation, as amended, have authorized 500,000,000 shares of common stock of the Company, par value $0.0001, and 50,000,000 shares of preferred stock, $0.0001 par value. All of the shares of preferred stock are “blank check” meaning the Board of Director, and not the shareholders, can authorize the rights, privileges and preferences of any shares of preferred stock issued in the future. Preferred Stock As of March 31, 2025 and December 31, 2024, the Company was authorized to issue 50,000,000 shares of preferred stock with a par value of $0.0001. No shares of preferred stock were issued or outstanding during the quarter ended March 31, 2025, and the year ended December 31, 2024. Common Stock As of March 31, 2025 and December 31, 2024, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.0001. On March 6, 2025, the Company entered into a subscription agreement with two unaffiliated third-parties pursuant to which the Company received a total of $253,504 in proceeds in exchange for 63,376 shares of Common Stock. The Company issued the shares on March 31, 2025. On February 13, 2025, the Company entered into a subscription agreement with an unaffiliated third-party pursuant to which the Company received $25,000 in proceeds in exchange for 6,250 shares of Common Stock. The Company issued the shares on March 31, 2025. On January 9,