other material
confidence high
sentiment negative
materiality 0.85
Apple iSports Group restates three quarterly 10-Qs; share count error and IP accounting issues
Apple iSports Group, Inc.
- Management concludes 10-Qs for March, June, Sept 2023 should be restated and no longer relied upon.
- Share count error: reported 202,704,211 shares vs actual 7,642,211 as of Dec 31, 2022; $19,506 reclassified.
- $1,000,000 AUD IP transaction: recognized expense in Q1 2023, but IP returned and rescinded in April 2024.
- Restatement affects balance sheet, statements of stockholders' deficit for multiple periods.
- Company and third-party executed binding rescission waiving $1,000,000 AUD share issuance liability.