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Agassi Sports Entertainment Corp. (AASP) has an updated ownership disclosure from director James M. Askew in Amendment No. 3 to his Schedule 13D. Askew now reports beneficial ownership of 1,797,860 shares of common stock, representing 13.7% of the outstanding common stock, based on 13,096,824 shares outstanding as of August 12, 2026.
Effective September 8, 2026, Askew gifted 300,000 shares of common stock to his three adult sons (100,000 shares each) and disclaims beneficial ownership of those gifted shares. He states that his holdings are for investment purposes and that he may buy or sell AASP securities in the future, but he currently has no specific plans for major corporate transactions or governance changes at the company.
Agassi Sports Entertainment Corp. (AASP) reported that director and ten percent owner James M. Askew made a bona fide gift transfer of 300,000 shares of Common Stock on September 8, 2026. The gift was to his three adult sons, and Askew reported 1,797,860 shares held directly afterward.
Agassi Sports Entertainment Corp. (AASP) reported a private offering of equity securities conducted under Regulation D, Rule 506(b), relying on an exemption from Securities Act registration. The first sale occurred on May 22, 2026. The company reports that it has sold $1,245,000 of securities, with a stated $3,755,000 remaining, and notes that the offering has closed. Inte Securities LLC served as placement agent and received warrants to purchase 750 shares of common stock at an exercise price of $5.00 per share with a five‑year term as part of its compensation.
Agassi Sports Entertainment Corp. (AASP) filed a Form D notice for an exempt private equity offering under Regulation D, claiming the Rule 506(b) exemption. The company is a Nevada corporation, incorporated over five years ago, and reports having no revenues in its size classification.
The notice reports equity securities sales totaling $900,000, with $3,100,000 remaining unsold, and states that the offering has closed. No finders' fees were paid. The first sale occurred on March 16, 2026, and President and CEO Ronald Boreta signed the filing on behalf of the issuer.
Agassi Sports Entertainment Corp. (AASP) has filed a prospectus supplement covering 13,981,982 shares of common stock, updating its Form S-1 with its Form 10-Q for the quarter ended June 30, 2026 and correcting disclosure about a Nevada 78.0296 Defective Corporate Act Ratification. The board ratified historical share issuances, a 2025 warrant grant and past director appointments under NRS 78.0296, and states these actions are now valid as of their original dates.
For the six months ended June 30, 2026, AASP reported a net loss of $2,794,060, driven by operating expenses of $2,794,060, including significant stock-based compensation and investment in its AI-powered racket-sports platform. Total assets rose to $4,665,391, mainly from a $2,271,547 intangible asset and $2,294,039 of software development in progress, funded largely by $2,145,000 in equity financing.
Despite this, liquidity is tight: cash was $74,196 and current liabilities $2,038,746, with current liabilities exceeding current assets by $1,962,523 and about $767,000 remaining payable to IBM-related parties. Management discloses that these conditions raise substantial doubt about AASP’s ability to continue as a going concern over the next year absent additional financing.
Agassi Sports Entertainment Corp. is registering the resale of up to 13,981,982 shares of common stock by existing holders, including 10,694,606 outstanding shares and 3,287,376 shares issuable upon warrant exercise. The company is not selling shares and will receive no proceeds from these resales, other than any cash paid to exercise warrants. Until quotation on OTCQB/OTCQX or a national exchange, selling shareholders plan to sell at a fixed price of $6.40 per share; the last reported OTCID sale on August 12, 2026 was $6.30. Agassi Sports aims to build an AI-powered racket-sports platform and events portfolio (including the planned World Series of Pickleball and “Let’s Play” facilities), but currently has no revenues, a working capital deficit, substantial IBM payment and cloud-commitment obligations, and a going-concern warning, and expects to need significant additional capital.
Agassi Sports Entertainment Corp. reported a net loss of $2.8 million for the six months ended June 30 2026, compared with a $2.0 million loss a year earlier, driven mainly by higher general and administrative costs, stock-based compensation and investment in software development.
Total assets rose to $4.7 million from $0.8 million at year-end 2025, largely from capitalized software development of $2.29 million and intangible assets of $2.27 million, including the “World Series of Pickleball” trademark and licensed name-and-likeness rights. Cash was $74,196, with current liabilities exceeding current assets by $1.96 million.
The company discloses substantial doubt about its ability to continue as a going concern, citing recurring losses, limited cash, and about $767,000 of remaining scheduled payments to IBM for its AI-powered racket sports platform and app. It raised $2.15 million from equity issuances during the first half and later obtained an additional $1.0 million convertible note and $125,000 equity, but management concludes these plans do not yet alleviate going concern risk.
Agassi Sports Entertainment Corp. has filed an amended registration statement covering the resale of up to 13,981,982 shares of common stock by existing securityholders, including 10,694,606 outstanding shares and 3,287,376 shares issuable upon warrant exercise. The company is not selling any shares and will receive no proceeds from these resales, other than potential cash proceeds if warrants are exercised. Until an uplisting or higher-tier OTC quotation occurs, selling shareholders plan to offer shares at a fixed price of $6.40 per share.
The business strategy centers on an AI-powered racket sports platform and app developed with IBM, an e‑commerce site launched in July 2026, a planned World Series of Pickleball event, and a global “Let’s Play” pickleball and padel facilities initiative. The company highlights extensive name-and-likeness and brand partnerships with Andre Agassi, Darren Cahill and Stefanie Graf. However, it reports a working capital deficit of $873,810 as of March 31, 2026, significant obligations to IBM totaling over $2.1 million under service agreements plus minimum cloud spend commitments of $3.8 million, and accumulated deficits exceeding $42.1 million, raising substantial doubt about its ability to continue as a going concern without additional financing.
Agassi Sports Entertainment Corp. entered into a three-year Commercial Agreement with the United States Tennis Association and USTA Coaching, Inc. to use proprietary USTA coaching content in an AI-powered coaching, swing analysis, and equipment recommendation mobile app. USTA grants a limited, non-transferable, revocable license to its curricula, methodologies, American Development Model, and related materials to train and fine-tune the app’s AI model for a defined permitted purpose, and will promote the app four times to its members and platform users, while also providing trademark and brand licensing rights.
In return, the company will make Darren Cahill and Andre Agassi available for USTA events, furnish complimentary and discounted app subscriptions to USTA Coaching community members and USTA members, and share a fixed percentage of net revenues from those users. The agreement includes audit rights, confidentiality, mutual indemnification, and multiple termination rights, including immediate termination by USTA for specified misuse or security incidents. Upon termination, the company must delete or return USTA content within 30 days and, within 180 days, use commercially reasonable efforts to reduce the influence of USTA data on its AI models, while acknowledging that complete removal is not currently technically feasible. A related press release describing the collaboration and Cahill’s participation in USTA Coaching’s Coaches Open conference is furnished under Regulation FD.