{"url_path":"/sec/aasp/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/930245/0001472375-26-000143-index.html","accession_number":"0001472375-26-000143","cik":"0000930245","ticker":"AASP","issuer_name":"Agassi Sports Entertainment Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/930245/0001472375-26-000143-index.html","primary_entity_key":"0000930245","primary_entity_name":"Agassi Sports Entertainment Corp."},"word_count":1426,"has_tables":true,"body_markdown":"Filed by Avantafile.com - Agassi Sports Entertainment Corp. - Form 10-Q\n\n0000930245\nfalse\nQ1\n2026\n--12-31\n\n0000930245\n\n2026-01-01\n2026-03-31\n\n0000930245\n\n2026-05-13\n\n0000930245\n\n2026-03-31\n\n0000930245\n\n2025-12-31\n\n0000930245\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nus-gaap:CommonStockMember\n\n2024-12-31\n\n0000930245\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2024-12-31\n\n0000930245\n\nus-gaap:RetainedEarningsMember\n\n2024-12-31\n\n0000930245\n\n2024-12-31\n\n0000930245\n\nus-gaap:CommonStockMember\n\n2025-12-31\n\n0000930245\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-12-31\n\n0000930245\n\nus-gaap:RetainedEarningsMember\n\n2025-12-31\n\n0000930245\n\nus-gaap:CommonStockMember\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nus-gaap:RetainedEarningsMember\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nus-gaap:CommonStockMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nus-gaap:RetainedEarningsMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nus-gaap:CommonStockMember\n\n2025-03-31\n\n0000930245\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2025-03-31\n\n0000930245\n\nus-gaap:RetainedEarningsMember\n\n2025-03-31\n\n0000930245\n\n2025-03-31\n\n0000930245\n\nus-gaap:CommonStockMember\n\n2026-03-31\n\n0000930245\n\nus-gaap:AdditionalPaidInCapitalMember\n\n2026-03-31\n\n0000930245\n\nus-gaap:RetainedEarningsMember\n\n2026-03-31\n\n0000930245\n\nAASP:BoretasMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nAASP:AllAmericanGolfCenterMember\n\n2026-03-31\n\n0000930245\n\nus-gaap:ComputerEquipmentMember\n\n2026-03-31\n\n0000930245\n\nus-gaap:ComputerEquipmentMember\n\n2025-12-31\n\n0000930245\n\n2025-01-01\n2025-12-31\n\n0000930245\n\n2026-02-01\n2026-02-28\n\n0000930245\n\n2026-03-01\n2026-03-31\n\n0000930245\n\n2026-03-13\n\n0000930245\n\nAASP:BoretaLifetimeTrustMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\n2026-03-30\n2026-03-31\n\n0000930245\n\n2026-03-30\n\n0000930245\n\nAASP:GeorgeMackinMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nAASP:DarrenCahillMember\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nAASP:JustinGimblestobMember\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nAASP:ShawnCableMember\n\n2025-01-01\n2025-03-31\n\n0000930245\n\nAASP:TrademarkPurchaseAgreementMember\n\n2025-01-01\n2025-12-31\n\n0000930245\n\nAASP:StefanieGrafMember\n\n2025-01-01\n2025-12-31\n\n0000930245\n\nAASP:NonemployeeAwardsMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nAASP:JamesAskewMember\n\n2026-03-31\n\n0000930245\n\nAASP:InvestmentsAKALLCMember\n\n2026-03-31\n\n0000930245\n\nAASP:InvestmentsAKALLCMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nAASP:BoretaLifetimeTrustMember\n\n2026-03-31\n\n0000930245\n\nAASP:RonaldSBoretaMember\n\n2026-01-01\n2026-03-31\n\n0000930245\n\nAASP:RonaldSBoretaMember\n\n2026-03-31\n\n0000930245\n\nus-gaap:SubsequentEventMember\n\n2026-04-16\n\n0000930245\n\nus-gaap:SubsequentEventMember\n\n2026-04-01\n2026-04-30\n\n0000930245\n\nus-gaap:SubsequentEventMember\nAASP:InvestmentsAKALLCMember\n\n2026-04-01\n2026-04-30\n\n0000930245\n\nus-gaap:SubsequentEventMember\nAASP:InvestmentsAKALLCMember\n\n2026-04-28\n\n0000930245\n\nus-gaap:SubsequentEventMember\n\n2026-04-27\n\n0000930245\n\nus-gaap:SubsequentEventMember\nAASP:RonaldSBoretaMember\n\n2026-05-01\n2026-05-31\n\n0000930245\n\nus-gaap:SubsequentEventMember\n\n2026-05-01\n2026-05-31\n\niso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\nxbrli:pure\n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n \n\n**FORM 10-Q**\n\n \n\n(Mark One)\n\n \n\n[X]\n\n**QUARTERLY\nREPORT PURSUANT TO SECTION 13 OR 15(d) OF** **THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the fiscal quarter ended March 31, 2026**\n\n \n\n[ ]\n\n**TRANSITION\nREPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**FOR THE TRANSITION PERIOD FROM\n_____________ TO _____________**\n\n \n\nCommission File Number **000-24970** \n\n  \n\n \n\nAgassi Sports Entertainment Corp. \n\n*(Exact name of registrant as specified in\nits charter)*\n\n \n\n**Nevada**\n\n \n\n**88-0203976**\n\n*(State or other jurisdiction of*\n\n*incorporation or organization)*\n\n \n\n*(I.R.S. Employer Identification No.)*\n\n \n\n \n\n \n\n**1120 N Town Center Drive, Suite 160**\n\n**Las Vegas,****Nevada******\n\n \n\n**89144**\n\n*(Address of principal executive offices)*\n\n \n\n*(Zip Code)*\n\n \n\nRegistrant’s telephone number, including area\ncode: **(702) 400-4005**\n\n \n\nSecurities registered pursuant to Section\n12(b) of the Act: **None.**\n\n \n\nIndicate by check mark whether the registrant (1) has filed\nall reports required to be filed by Section 13 or 15(d) of the Securities\nExchange Act of 1934 during the preceding 12 months (or for such shorter period\nthat the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days.   \n[X] Yes   [ ] No\n\n \n\n  \n\nIndicate by check mark whether the registrant has submitted\nelectronically every Interactive Data File required to be submitted pursuant to\nRule 405 of Regulation S-T during the preceding 12 months (or for such shorter\nperiod that the registrant was required to submit such\nfiles).     [X] Yes   [ ] No\n\n \n\nIndicate by check mark whether the registrant is a large\naccelerated filer, an accelerated filer, a non-accelerated filer, a smaller\nreporting company, or an emerging growth company. See the definitions of “large\naccelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging\ngrowth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated\nfiler [ ]  \n\nAccelerated filer\n[ ]  \n\nNon-accelerated Filer [X]  \n\n \n\nSmaller reporting company [X]  \n\nEmerging growth\ncompany  [ ]  \n\n \n\nIf an emerging growth company, indicate by check mark if\nthe registrant has elected not to use the extended transition period for\ncomplying with any new or revised financial accounting standards provided\npursuant to Section 13(a) of the Exchange Act. [ ]\n\n \n\nIndicate\nby check mark whether the registrant is a shell company (as defined in Rule\n12b-2 of the Exchange Act).   [ ] Yes   [X] No\n\n \n\nThe number of shares of common stock, $0.001 par value,\noutstanding on May 13, 2026 was 12,733,250 shares.\n\n \n\n \n\n \n\n**TABLE OF CONTENTS**\n\n** **\n\n**PART I – FINANCIAL INFORMATION.**\n\n**3**\n\n \n\n \n\n[Item 1. Financial Statements.](#page_3)\n\n[3](#page_3)\n\n \n\n \n\n[Condensed Balance Sheets.](#page_3)\n\n[3](#page_3)\n\n \n\n \n\n[Condensed Statements of Operations.](#page_4)\n\n[4](#page_4)\n\n \n\n \n\n[Condensed Statements of Cash Flows.](#page_6)\n\n[6](#page_6)\n\n \n\n \n\n[Notes to Condensed Financial Statements.](#page_7)\n\n[7](#page_7)\n\n \n\n \n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.](#page_18)\n\n[18](#page_18)\n\n \n\n \n\n[Item 3. Quantitative and Qualitative Disclosures about Market Risk.](#page_27)\n\n[27](#page_27)\n\n \n\n \n\n[Item 4. Controls and Procedures.](#page_28)\n\n[28](#page_28)\n\n \n\n \n\n**PART II – OTHER INFORMATION.**\n\n**29**\n\n \n\n \n\n[Item 1. Legal Proceedings.](#page_29)\n\n[29](#page_29)\n\n \n\n \n\n[Item 1A. Risk Factors.](#page_29)\n\n[29](#page_29)\n\n \n\n \n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.](#page_29)\n\n[29](#page_29)\n\n \n\n \n\n[Item 3. Defaults Upon Senior Securities.](#page_31)\n\n[31](#page_31)\n\n \n\n \n\n[Item 4. Mine Safety Disclosures.](#page_31)\n\n[31](#page_31)\n\n \n\n \n\n[Item 5. Other Information.](#page_31)\n\n[31](#page_31)\n\n \n\n \n\n[Item 6. Exhibits.](#page_32)\n\n[32](#page_32)\n\n \n\n \n\n \n\n \n\n**CAUTIONARY STATEMENT REGARDING\nFORWARD-LOOKING STATEMENTS**\n\n \n\nThis Quarterly Report on\nForm 10-Q (this “Report”) contains forward-looking statements. In some\ncases, you can identify forward-looking statements by the following words: “anticipate,”\n“believe,” “continue,” “could,” “estimate,” “expect,”\n“intend,” “may,” “ongoing,” “plan,” “potential,”\n“predict,” “project,” “should,” or the negative of these\nterms or other comparable terminology, although not all forward-looking\nstatements contain these words. Forward-looking statements are not a guarantee\nof future performance or results, and will not necessarily be accurate indications\nof the times at, or by, which such performance or results will be achieved.\nForward-looking statements are based on information available at the time the\nstatements are made and involve known and unknown risks, uncertainties and\nother factors that may cause our results, levels of activity, performance or\nachievements to be materially different from the information expressed or\nimplied by the forward-looking statements in this Report. These factors\ninclude:\n\n \n\n \n\n•\n\nour limited operating history, history of losses and lack of\nexperience in certain aspects of our business, including the court sports\nindustry;\n\n \n\n•\n\nour ability to continue as a going concern and to generate sufficient\nrevenues to achieve and sustain profitability;\n\n \n\n•\n\nour need for additional capital to fund operations and satisfy\nobligations, including under agreements with the IBM Parties (defined below),\nthe availability and terms of such financing and potential dilution to\nexisting stockholders;\n\n \n\n•\n\nour ability to execute our business plan, including the development,\nlaunch and commercialization of our planned platform and mobile application,\nthe timing and costs associated therewith and the extent to which we generate\nrevenues from such initiatives;\n\n \n\n•\n\nthe anticipated benefits of our arrangements with the IBM Parties and\nthe extent to which such benefits are realized, as well as the demands such\narrangements place on our management and resources;\n\n \n\n•\n\nthe acceptance by consumers of our products and services and their\nwillingness to adopt and pay for our offerings;\n\n \n\n•\n\nthe size, growth and development of the markets in which we operate,\nincluding pickleball and padel, and for our planned platform and application;\n\n \n\n•\n\nour ability to compete effectively in a highly competitive and\nevolving industry and to respond to changes in market conditions and consumer\npreferences;\n\n \n\n•\n\nthe impact of general economic, financial and business conditions,\nincluding inflation, interest rates, tariffs, trade policies, economic\nslowdowns or recessions and geopolitical events, on discretionary spending\nand demand for our products, services and events;\n\n \n\n•\n\nour ability to successfully plan, launch and operate events,\nincluding the planned World Series of Pickleball, including securing venues,\nobtaining permits, attracting sponsorships, partners and participants, and\nmanaging operational and logistical challenges;\n\n \n\n•\n\nrisks related to injuries, accidents, security incidents or other\nliabilities arising from our operations or events and the adequacy of our insurance\ncoverage;\n\n \n\n•\n\ndisruptions to our information technology systems, cybersecurity\nthreats and unauthorized access to data, and the resulting operational, legal\nand reputational risks;\n\n \n\n \n\n•\n\nrisks associated with our use of artificial intelligence technologies,\nincluding regulatory, operational, reputational and competitive risks;\n\n \n\n•\n\nour ability to attract, retain and manage key personnel and to\neffectively manage our growth, including increased operational scale and\ncomplexity;\n\n \n\n•\n\nour ability to protect our intellectual property and avoid infringing\non the intellectual property rights of others;\n\n \n\n•\n\nour ability to establish and maintain brand recognition and customer\nloyalty;\n\n \n\n•\n\nchanges in laws, regulations and regulatory requirements applicable\nto our business;\n\n \n\n•\n\ncorporate governance risks and risks related to being a public\ncompany, including increased costs and compliance obligations;\n\n \n\n•\n\nthe concentration of ownership of our securities and its impact on\ncorporate decision-making;\n\n \n\n•\n\nthe market price and liquidity of our common stock; and\n\n \n\n•\n\nother risk factors discussed or incorporated by reference in “Risk Factors”, below.\n\n \n\nYou should read the matters\ndescribed in “Risk Factors” and the other cautionary statements made in this\nReport, as being applicable to all related forward-looking statements wherever\nthey appear in this Report. We cannot assure you that the forward-looking\nstatements in this Report will prove to be accurate and therefore prospective\ninvestors are encouraged not to place undue reliance on forward-looking\nstatements. Other than as required by law, we undertake no obligation to update\nor revise these forward-looking statements, even though our situation may change\nin the future.\n\n \n\n \n\n \n\n \n\n**Part\nI – Financial Information**"}