Company: AAPI
Filing Date: 2025-04-01
Form Type: 10-K
Source: 0001477932-25-002341
Chunk: 238

Company: Apple iSports Group, Inc.
Filing Date: 2025-04-01
Form: 10-K
Item: Item 2
Chunk 238
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·Since the inception of AiS through December 31, 2024, we (i) established a core team with the industry skills and experience to manage the Company and (ii) received approximately $2,744,900 in private placement funding and received loans from related parties of more than $3,597,442. ·From December 2021 to October 2022, we developed our Go-to Market outline and marketing strategy, including identifying preferred suppliers for each product and initiating relationships with key suppliers and consultants; ·In June 2022, we submitted our application to the North Dakota Racing Commission for an (ADW) license, subject to the approval of the Thoroughbred Racing Protective Bureau. Completion of the TRPB examination is required to receive a state-issued ADW; This will be concluded subsequent to closing the capital raising. ·In October 2022, we engaged a provider of white-label sportsbook platforms and began customization and integration with key components (KYC, payments, CRM, credit card verification) and data feeds.; Our platform will be implemented within 12-16 weeks of completing the capital raising.; ·Effective March 23, 2023, we completed 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 the 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. They 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. ·In May 2023, we began brand awareness activities by advertising around Australia on SEN Radio, the largest sports radio network in Australia. Advertising continued sporadically through August of 2024;

Effective March 23, 2023, we completed 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