Company Summary: Apple iSports Group, Inc.

Business Overview

• Company Name: Apple iSports Group, Inc. (formerly Vita Plus Industries, Inc. and Prevention Insurance.Com)
• Incorporation: Nevada (current name effective August 31, 2023)
• Headquarters: Irvine, California; satellite offices in Australia (Darwin and Melbourne)
• Industry: Online sports betting and gaming platform
• Core Platforms & Products:
  • Fixed Odds Sports Betting: Coverage for major leagues including NFL, NBA, MLB, AFL, Cricket, Golf, Ice Hockey, Soccer, Tennis.
  • Horse Racing Wagering: Includes fixed odds, pari-mutuel pools, real-time race analytics, and live updates (scratches, jockeys, conditions).
  • Live Content Streaming: Broadcasts live sporting events and sports-based shows to promote engagement and betting activity.

Business Operations

• Markets:

  • Australia: Developing fixed odds and live streaming sports betting applications targeting local market; license application contingent upon board approval.
  • U.S.: Developing a multi-tenant Class II, Class III, and sports betting platform targeting Tribal lands and licensed in North Dakota for pari-mutuel betting; plans to expand to approximately 20 U.S. states subject to licensing.

• Websites:

  • US Market: www.appleisports.com
  • Australian Market: www.appleisports.com.au

• Milestones & Development:

  • Received ~$2.74 million in private placement funding (as of December 2024).
  • Loans from related parties exceeding ~$3.59 million.
  • Submitted licensing applications (e.g., North Dakota ADW license, contingent upon TRPB approval).
  • Engaged white-label sportsbook platform provider for customization.
  • Completed change of control transaction in March 2023 via stock exchange with AiS.
  • Advertising campaigns in Australia (e.g., SEN Radio) started in May 2023.

Technology & Platform

• Products:
  • Fixed Odds Sport Betting: Personalized user experience with a variety of betting types.
  • Horse Racing Analytics: Race ratings, speed maps, live updates, tote and fixed odds betting.
  • Live Content Streaming: Up to 8 minutes of advertising per hour; available on websites and via distribution platforms.
• Development: Ongoing development of website, sportsbook, and streaming channels with third-party vendors; platform implementation expected within 12–16 weeks of capital raising.

Revenue Model

• Revenue streams from:
  • Pari-mutuel pools (fees on total bets, risk-free for operator).
  • Fixed odds betting (risk management and odds-setting).
  • Advertising from live content streaming.
  • Technology deployment in Tribal casinos and gaming operators (implementation, maintenance, revenue share).
  • Future plans include freemium services, microtransactions, subscription models to increase engagement and revenue.

Market & Industry Context

• Estimated global sports betting market size (2024): USD 103.08 billion.
• Projected growth (2025–2033): CAGR ~8.56%, reaching USD 224.12 billion by 2033.
• U.S.: Over 86% of North America’s share, after legalization trends post-2018 Supreme Court decision.
• Australia: Mature, regulated market with significant growth driven by app-based betting.

Company Size & Financials

• Employees: 6 full-time employees (as of December 2024).
• Customer Base: Not specified; currently in development/implementation phase with no reported active users.
• Financials (2024):
  • Revenue: $0 (no revenues reported).
  • Net Loss: approximately $2.82 million.
  • Working Capital Deficit: approximately $6.54 million (including ~$4.21 million owed to related parties).
  • Expenses: Operating expenses of about $3.42 million.
  • Interest Expense: about $92,194, primarily from related-party debt.
  • Debt Forgiveness: $659,663 related to rescinding intellectual property acquisition.
  • Cash & Equivalents: $42,167 at end of December 2024.

Key Issues & Risks

• The company is in development with no current operational revenue.
• Significant ongoing capital requirements; current funds are insufficient for full development.
• Dependent on obtaining licenses (U.S. and Australian markets) to operate legally.
• Substantial working capital deficit and net losses raise doubts about continued operations ("going concern").
• Limited management resources, only 6 employees, and a small team with plans to expand.
• Has a history of accumulated deficit and no declared dividends.
• Company is controlled by a principal shareholder owning approximately 42% of common stock.

This summary reflects the company's current stage—primarily development with no current revenue, ongoing capital needs, and strategic focus on market entry in Australia and select U.S. states through licensing and technology deployment.