Fri, Dec 27, 10:30 PM (21 days ago)
For the quarter ended September 30, 2024, Apple iSports Group, Inc. (APIS) reported no revenues, maintaining a net loss of $748,760 compared to a loss of $580,589 in Q3 2023. Total operating expenses rose to $723,929, driven by increased consulting and professional fees, while corporate expenses decreased. The company continues to face significant financial challenges, with a working capital deficit of $6,124,806, up from $5,307,174 at year-end 2023. Cash flow from operations showed a net outflow of $1,909,836 for the nine months ending September 30, 2024, compared to $1,145,645 the previous year. Financing activities provided $1,944,271, primarily through loans and stock issuances, mitigating some cash flow pressures. The company’s accumulated deficit increased to $12,450,087, raising concerns about its ability to sustain operations without additional funding. Future operations depend on securing further financing and launching its digital sports betting platform, anticipated for Q1 2025. The company remains classified as an emerging growth entity, highlighting ongoing uncertainties in achieving profitability.