Apple iSports Group Signs Material Definitive Agreement
Ticker: AAPI · Form: 8-K · Filed: Jan 15, 2025 · CIK: 1134982
Sentiment: neutral
Topics: material-definitive-agreement
TL;DR
Apple iSports Group just signed a big deal, details TBD.
AI Summary
Apple iSports Group, Inc. entered into a material definitive agreement on January 9, 2025. The company, formerly known as Prevention Insurance Com, Inc., is incorporated in Nevada and based in Irvine, California. The filing does not disclose specific details of the agreement or any associated financial figures.
Why It Matters
This filing indicates a significant new contract or partnership for Apple iSports Group, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its impact on the company.
Key Players & Entities
- Apple iSports Group, Inc. (company) — Registrant
- Prevention Insurance Com, Inc. (company) — Former company name
- January 9, 2025 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- Irvine, California (location) — Business address
FAQ
What is the nature of the material definitive agreement entered into by Apple iSports Group, Inc.?
The filing states that Apple iSports Group, Inc. entered into a material definitive agreement on January 9, 2025, but does not provide specific details about its nature.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 9, 2025.
What were the former names of Apple iSports Group, Inc.?
Apple iSports Group, Inc. was formerly known as Prevention Insurance Com, Inc. and Prevention Insurance Com.
In which state is Apple iSports Group, Inc. incorporated?
Apple iSports Group, Inc. is incorporated in Nevada.
What is the business address of Apple iSports Group, Inc.?
The business address of Apple iSports Group, Inc. is 100 Spectrum Center Drive, Suite 900, Irvine, CA 920618.
Filing Stats: 1,020 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2025-01-15 14:49:45
Key Financial Figures
- $2,807,760 — es Pty Ltd Cres Pty Ltd in Exchange $2,807,760 11,231,040 shares The discharge of th
Filing Documents
- aapi_8k.htm (8-K) — 34KB
- aapi_ex1015.htm (EX-10.15) — 20KB
- 0001477932-25-000269.txt ( ) — 176KB
- aapi-20250109.xsd (EX-101.SCH) — 6KB
- aapi-20250109_lab.xml (EX-101.LAB) — 13KB
- aapi-20250109_cal.xml (EX-101.CAL) — 1KB
- aapi-20250109_pre.xml (EX-101.PRE) — 8KB
- aapi-20250109_def.xml (EX-101.DEF) — 2KB
- aapi_8k_htm.xml (XML) — 4KB
01 Entry Into Material Definitive Agreement
Item 1.01 Entry Into Material Definitive Agreement. On January 9, 2025 ("Effective Date"), Apple iSports Group, Inc. (the "Company") and Cres Pty Ltd atf Cres Discretionary Trust No 2., an Australian trust ("Cres Pty Ltd") and the Company's largest shareholder, entered into a Loan Conversion Agreement pursuant to which Cres converted and discharged certain outstanding loans to the Company in exchange for certain shares of the Company's common stock. The amounts of the loan converted by Cres Pty Ltd and the shares of common stock issued to Cres Pty Ltd are as follows: Amount Discharged by Amount of Common Stock Issued to Cres Pty Ltd Cres Pty Ltd in Exchange $2,807,760 11,231,040 shares The discharge of the amount set forth above, which includes any accrued and unpaid interest, is effective as of the Effective Date. In addition, as of the Effective Date, Cres Pty Ltd shall be deemed the owner of the common stock of the Company set forth above. Cres Pty Ltd forever waived and discharged any and all claims, demands and actions with respect to the amount set forth above. Immediately prior to the transaction, Cres Pty Ltd owned 79,177,501 shares of common stock of the Company or 38% of the total issued and outstanding shares of common stock. Immediately after the transaction, Cres Pty Ltd owned 90,408,541 shares of common stock of the Company or 41% of the total issued and outstanding shares of common stock. There were no shares of preferred stock issued and outstanding prior to or after the transaction. The Loan Conversion Agreement is attached hereto as Exhibit 10.3. The descriptions of the Loan Conversion Agreement are not complete, and are qualified in their entirety by reference to the respective agreement which is filed as an exhibit hereto and incorporated herein. After giving effect to the above described transaction, a total of 219,715,851 shares of the Company's common stock and no shares of preferred stock are issued outstanding. Immediately pr
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. Exhibit Description 10.15 Loan Conversion Agreement dated January 9, 2025 by and between Apple iSports Group, Inc. and Cres Pty Ltd atf Cres Discretionary Trust No. 2. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Apple iSports Group, Inc. (Registrant) Date: January 15, 2025 By: /s/ Jo e Martinez Joe Martinez Chief Executive Officer 3