secwatch.observer — SEC 8-K summary
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Issuer:     Apple iSports Group, Inc. (AAPI)
CIK:        0001134982
Form:       8-K
Filed at:   2025-01-07T23:59:59+00:00
Accession:  0001477932-25-000093
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Apple iSports Group restates Q2 2024 financials; share count off by 520,000, expenses understated by $80K
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- Previously issued June 30, 2024 10-Q can no longer be relied upon due to accounting errors.
- Share count incorrectly stated as 207,964,211; actual was 208,484,211 (520,000-share understatement).
- Corporate expenses for the six months ended June 30 were $280,609 reported vs $360,609 actual; three-month expense was $141,617 vs $221,617.
- Error originated from a private placement repricing at $0.25/share, requiring 320,000 additional shares and increasing net loss by $80,000.
- Management discussed restatement with current independent auditor; conclusion reached on December 27, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1134982/000147793225000093/0001477932-25-000093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1134982/000147793225000093/aapi_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-25-000093

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer