Thu, Aug 15, 6:28 PM (152 days ago)
For the quarter ending June 30, 2024, Apple iSports Group, Inc. reported no revenue, maintaining a trend of zero revenue across comparable periods. The company incurred total operating expenses of $1,069,101, a significant increase from $657,293 in the same quarter of 2023, largely due to rising consulting and professional fees related to the development of its digital sports betting platform. Net loss for the quarter was $435,449, down from a loss of $647,629 a year prior. Cash flow from operating activities showed a significant outflow of $1,603,880, compared to $665,307 in the previous year, reflecting ongoing challenges in managing operational costs. However, financing activities provided $1,707,137, bolstered by equity financing through common stock issuances. As of June 30, 2024, the company reported a working capital deficit of $5,243,944, slightly improved from $5,307,174 at year-end 2023. The company continues to face liquidity challenges, dependent on related party financing to sustain operations. The outlook remains uncertain, hinging on successful platform development and market entry strategies in both the U.S. and Australia.