Apple iSports Group, Inc.

What they do

Apple iSports is developing a digital sports betting and gaming platform intended to offer sports content, racing, sports betting, and sports streaming. The company targets users via web and mobile devices, with separate websites for the U.S. and Australia. It has applied for an Online Bookmaking License in Australia and holds an ADW license in North Dakota pending examination. The company has no revenue and is focused on raising capital to complete its platform and obtain licenses.

Revenue drivers

• Sports betting and gaming platform (not yet launched) — Planned to generate revenue through pari-mutuel betting, tote derivatives, and fixed odds betting in Australia and the U.S.; currently no revenue.
• Advanced Deposit Wagering (ADW) in North Dakota — Licensed as an ADW provider, pending TRPB examination, to offer pari-mutuel racing betting in North Dakota and up to 20 additional states.

Recent performance

For the fiscal year ended December 31, 2025, the company reported a net loss of $6.4 million and zero revenue. Operating cash flow was negative $1.7 million in 2025. As of March 31, 2026, the company had cash of only $860, total assets of $2.4 million, and total liabilities of $6.8 million, resulting in a shareholder deficit of $4.4 million. The company has not generated revenue in any recent quarter.

Strategy

The company plans to launch its sports betting platform in Australia and the U.S., with a focus on obtaining the Australian Online Bookmaking License and completing the TRPB examination for North Dakota ADW. Management is also pursuing capital raising through private placements and related-party loans, having received over $3 million in private placement funding and over $3.1 million in related-party loans. The company has terminated proposed acquisitions of AmeriCrew and Lucky Bet after due diligence, and has entered into agreements with Pacifico Financial Group and LDA Capital Group for capital raising and equity backstop arrangements. The company aims to address infrastructure and connectivity gaps in digital media, potentially expanding into iGaming and other monetization opportunities.

Risks

• Liquidity risk — Cash of $860 as of March 31, 2026, and a working capital deficit of approximately $5.9 million, with ongoing losses and no revenue.
• Dependence on financing — The company estimates it needs about $5.5 million to complete its business plan and has annual expenses of $5-6 million, requiring significant additional capital.
• Regulatory and licensing risk — The company's ability to operate depends on obtaining an Australian bookmaking license and completing the TRPB examination for the North Dakota ADW, both of which are pending.
• No operating history — The company has no revenue and a history of net losses, with no assurance that its platform will be successfully launched or accepted by the market.

Outlook

Management is focused on raising capital to fund development and launch activities. The Australian license application and North Dakota ADW examination are key milestones for going live. The company has suspended an advertising contract with SEN Radio until closer to launch. Strategic agreements with capital providers are intended to accelerate funding, but the actual timing of product launch remains uncertain.