Company: AAPI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001477932-25-008337
Chunk: 21

Company: Apple iSports Group, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 21
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 September 30, 2025, compared to the Nine Months Ended September 30, 2024, is primarily due to an increase in Consulting and professional fees. This is attributed to an increase of $4,373,843 from the stock options which were granted during the nine months, $2,566,695 related to the US plan and $1,807,148 related to the Australian Plan. See Note 9 of the unaudited financial statements included herein for additional detail on the stock incentive plan. This was offset by a decrease in marketing-related expenses during the Nine Months Ended September 30, 2025, until the Company moves closer to the Go Live date.

Other Income (Expenses)

During the Nine Months ended September 30, 2025, and 2024, we had $2,295,042 and $0 respectively, in issuance cost related to equity contract. The significant increase in issuance cost was a result of the common stock purchase agreement entered into on August 4, 2025. See note 7 for further details.

During the Nine Months Ended September 30, 2025, and 2024, we had $30,905 and $65,492, respectively, in interest expense attributable to related party debt, net of interest income. The significant decrease in interest expense is attributable to the conversion of the related party Cres loan on January 9, 2025, which resulted in a reduction of interest expense for the Nine Months Ended September 30, 2025.

During the Nine Months Ended September 30, 2025, and 2024, the company had $141,394 and ($3,124), respectively, in Foreign exchange gain (loss). This was attributable to international exposure to exchange rate fluctuations resulting in fluctuations that impact our results of operations

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During the Nine Months Ended September 30, 2025 and 2024, the company had a total of $0 and $658,533 related to forgiveness of debt. This was related to the Company’s rescission of the third-party intellectual property and reversal of 1,000,000 AUD of accounts payable and recognized forgiveness of debt income of 1,000,000 AUD ($658,533) during the Nine Months Ended September 30, 2024.

During the Nine Months Ended September 30, 2025, and 2024, we had a net loss of $8,251,741 and $2,012,474, respectively