Filing Analysis
Agassi Sports Entertainment Corp. entered into a three-year commercial agreement with the United States Tennis Association (USTA) to license proprietary coaching content for its AI-powered mobile application. The deal includes promotional support from USTA and requires revenue sharing based on App usage by USTA members.
🚩 Red Flags
- Revenue sharing requirement: The company must share a fixed percentage of net revenues generated from USTA members/coaches with the USTA.
- Complex termination obligations: Requires 'commercially reasonable efforts' to implement technical measures like machine unlearning or retraining if the agreement is terminated.
📋 Key Facts
- Agreement signed August 6, 2026, with United States Tennis Association Incorporated (USTA).
- Term of the agreement is three years.
- Company will use USTA Content to train and fine-tune an AI model for coaching, swing analysis, and equipment recommendations.
- USTA to promote the App four times to its members/platform users.
- Financial terms include sharing a fixed percentage of net revenues generated from USTA members and coaches with USTA.
- The agreement includes 'machine unlearning' or retraining requirements upon termination to reduce residual AI influence of USTA data.
Agassi Sports Entertainment Corp. is notifying shareholders of a Board-led ratification and validation of various 'Defective Corporate Acts' under Nevada law. These acts include historical stock issuances, a 2025 warrant agreement, and past director appointments that the company cannot formally document due to missing corporate minutes or consents.
🚩 Red Flags
- Significant corporate governance failure: The inability to locate formal minutes/consents for stock issuances spanning over two decades is a major internal control deficiency.
- Potential validity issues with historical equity: Ratifying 'defective' issuances suggests that the legal chain of ownership for shares may have been compromised.
- Recent warrant issue: A 2025 warrant agreement—relatively recent—is also being ratified, indicating ongoing documentation/authorization issues.
📋 Key Facts
- The Board adopted resolutions on August 7, 2026, to ratify 'Defective Corporate Acts' pursuant to NRS 78.0296.
- Defective acts include common stock issuances from 2002, 2006, 2008, 2010, 2013, 2016, and 2017.
- A warrant agreement entered into with a service provider in 2025 is also subject to ratification.
- Past appointments of Board members in 2009, 2012, and 2013 are being ratified due to missing documentation.
- The company states the actions may not have been properly authorized or documented because they cannot locate formal written consents or minutes.
Agassi Sports Entertainment Corp. announced the launch of its 'Let's Play' initiative, aimed at building a global network of pickleball and padel clubs through acquisitions and partnerships. The company clarified that it has not yet entered into any definitive agreements or acquired any facilities to date.
🚩 Red Flags
- Speculative nature: The filing contains significant forward-looking language regarding a business model with zero current assets or executed contracts in the sector.
📋 Key Facts
- Launched 'Let’s Play' platform initiative focused on pickleball and padel.
- Goal is to create a leading network via potential acquisitions, strategic partnerships, collaborations, and franchising.
- Currently in early-stage discussions with facility operators and developers.
- Explicitly stated that no facilities have been acquired and no definitive agreements are currently in place as of August 4, 2026.
Agassi Sports Entertainment Corp. entered into a $1,000,000 convertible promissory note with Investments AKA, LLC, an entity owned and controlled by the company's largest beneficial stockholder, Andre Agassi. The note converts into equity at the price paid by new investors in a future financing of at least $3,000,000.
🚩 Red Flags
- Related-party transaction: The lender is the company's largest beneficial stockholder (Andre Agassi).
- Conflict of interest/Internal control risk: The CFO of the lender (Investments AKA, LLC) is also the Company's CFO.
- Potential dilution: The note converts into equity at the price of a future financing, which could lead to significant dilution for existing shareholders.
📋 Key Facts
- Company entered into a $1,000,000 Convertible Promissory Note on July 28, 2026.
- The note is issued to Investments AKA, LLC, owned by Andre Agassi (largest beneficial stockholder).
- Investments AKA's Chief Financial Officer is Shawn Cable, who is also the Company's CFO.
- Interest rate is 3.96% per annum, increasing to 10% upon default.
- Maturity date is July 27, 2027.
- Automatic conversion occurs if a 'Next Equity Financing' of at least $3,000,000 in gross proceeds occurs.
- Proceeds are intended for general working capital purposes.
Agassi Sports Entertainment Corp. has filed an 8-K to furnish an updated version of its investor presentation under Item 7.01 (Regulation FD Disclosure). The filing contains no substantive financial changes or material corporate events, serving primarily as a vehicle for the company's marketing/investor relations materials.
📋 Key Facts
- The company furnished an updated investor presentation dated July 2026 as Exhibit 99.1.
- The filing is made pursuant to Item 7.01 (Regulation FD Disclosure).
- Report date: July 27, 2026.
Agassi Sports Entertainment Corp. entered into a First Amendment to its Registration Rights Agreement on June 29, 2026. This amendment extends the deadline for filing a registration statement for shares sold in a recent private offering.
🚩 Red Flags
- Delay in filing registration statements can indicate administrative hurdles or liquidity/capitalization issues often seen in micro-cap companies.
- Extension of deadlines for registering resale shares may signal investor pressure or the company's inability to meet original timelines.
📋 Key Facts
- The Company entered into a First Amendment to a Registration Rights Agreement on June 29, 2026.
- The amendment was agreed upon with investors holding a majority in interest of the shares from the May/June 2026 private offering.
- The 'Required Filing Date' for the registration statement has been extended from July 6, 2026, to July 31, 2026.
- The original agreement was part of a Rule 506(b) private offering.
Agassi Sports Entertainment Corp. entered into a long-term (15+ years) name and likeness license agreement with AKA Licenses, LLC for the use of Andre Agassi's persona. Additionally, the company executed lock-up agreements with 23 investors and completed a private placement of common stock to two accredited investors.
🚩 Red Flags
- The company must pay a $250,000 fee within six months or upon raising $3M, which could impact near-term liquidity.
- Lock-up agreements include warrants that will result in potential dilution of existing shareholders (657,876 shares).
- Registration rights agreement for recent investors includes 'liquidated damages' if a registration statement is not timely filed.
📋 Key Facts
- Entered into Name and Likeness License Agreement with AKA Licenses, LLC on June 18, 2026.
- License term is 15 years, with automatic 5-year extensions; no ongoing royalty fees required.
- A one-time fee of $250,000 is due to AKA Licenses upon the earlier of: (a) raising >$3M from any source, or (b) six months from June 18, 2026.
- Entered into lock-up agreements with 23 investors; granted warrants for 657,876 shares at $5.00/share to incentivize the lock-up.
- Sold 14,000 shares of common stock to two accredited investors at $5.00 per share (totaling $70,000) on June 19, 2026.
Agassi Sports Entertainment Corp. entered into a five-year Brand Partner Agreement with Stefanie Graf, who will serve as an advisor and celebrity endorser. As compensation, the company granted Ms. Graf warrants to purchase 1,000,000 shares of common stock at an exercise price of $5.50 per share.
🚩 Red Flags
- Potential dilution of existing shareholders via the issuance of up to 1,000,000 warrants.
📋 Key Facts
- Agreement date: November 22, 2025
- Term: Five years, subject to mutual extension
- Compensation: Warrants for 1,000,000 shares of common stock
- Exercise price: $5.50 per share
- Vesting: Immediate vesting; 50% exercisable immediately, 50% after one year
- Rights: Ms. Graf licenses her image, name, and likeness for worldwide use in marketing/PR
Agassi Sports Entertainment Corp. entered into a multi-year partnership with IBM Norge AS to develop an AI-powered video analysis model and digital platform for the racquet sports community. The agreement includes significant consulting fees totaling over $2.1 million for initial services and a long-term commitment to purchase additional services through 2030.
🚩 Red Flags
- Significant long-term service commitment (through 2030) creates ongoing operational expenditure obligations.
- Revenue-based performance bonus for IBM reduces net margins on any business generated through this partnership.
- The $2.95M 'investment' from IBM is explicitly noted as non-cash/in-kind, meaning no immediate liquidity influx to the company.
📋 Key Facts
- Entered into Services Agreement and Commitment Agreement with IBM Norge AS on October 31, 2025.
- First Statement of Work (SoW 1) covers development of a website, mobile app, e-commerce, and AI video analysis model between Nov 1, 2025, and June 30, 2026.
- Total payment for SoW 1 is $2,134,716, payable in installments including $100k monthly through Feb 2026.
- Commitment Agreement requires the Company to purchase additional services from IBM Consulting between June 30, 2026, and October 31, 2030.
- IBM will receive a performance bonus of 2% to 2.5% of net revenue derived from agreements with IBM (minus costs).
- IBM is providing $2,953,000 in non-cash investments/services rather than cash investment; no equity is being issued to IBM.
- The Company retains ownership of the developed A.I. Model.
The company has filed an 8-K to provide an updated corporate presentation under Regulation FD disclosure. This filing does not contain new material agreements, financial results, or structural changes.
📋 Key Facts
- Filed on October 9, 2025, reporting events from October 8, 2025.
- The company provided an updated presentation as Exhibit 99.1.
- The filing is made pursuant to Item 7.01 (Regulation FD Disclosure).
- No new financial statements or material agreements were disclosed in the text.
Agassi Sports Entertainment Corp. entered into a non-binding Collaboration and Licensing Agreement with Sport Squad, Inc. (owner of JOOLA) to explore potential joint ventures in product development, live events, and media content.
🚩 Red Flags
- The agreement is non-binding regarding the actual pursuit of ventures; it only mandates 'good faith' discussions.
- Agassi Sports bears the sole responsibility and potential cost for acquiring all necessary intellectual property and NIL rights.
📋 Key Facts
- Entered into a Collaboration and Licensing Agreement with Sport Squad, Inc. (JOOLA) on July 10, 2025.
- The agreement allows both parties to suggest 'Ventures' including product lines, live events, exhibitions, wellness projects, and media content.
- Agassi Sports is responsible for obtaining all necessary rights, logos, trademarks, and Name, Image, and Likeness (NIL) rights for any ventures.
- The agreement contains no obligation to pursue any specific number of ventures or any particular venture.
Agassi Sports Entertainment Corp. entered into a Statement of Work with IBM Norge AS to support the launch of a racquet sport experience, including design and digital product concept services.
🚩 Red Flags
- Small contract value ($75k) relative to typical micro-cap material agreements, suggesting this is an incremental operational expense rather than a transformative partnership.
📋 Key Facts
- Entered into a Statement of Work (SOW) with IBM Norge AS on July 2, 2025.
- The project involves design and digital product concept services for a 'state-of-the-art racquet sport experience'.
- Project timeline: Expected to start July 7, 2025, and complete by October 30, 2025.
- Total consideration: $75,000 payable upon completion of certain milestones.
- The SOW includes a 30-day written notice termination clause for either party.
Agassi Sports Entertainment Corp. announced the passing of Steven Miller, a long-standing member of the Board of Directors who had served since April 2013.
📋 Key Facts
- Steven Miller passed away on June 15, 2025.
- Mr. Miller had been a member of the Board of Directors since April 2013.
- The event was reported under Item 8.01 (Other Events).
Agassi Sports Entertainment Corp. (formerly Global Acquisitions Corp.) has acquired the 'World Series of Pickleball' trademark from Patrick J. Rolfes and Ted Angelo. This acquisition marks the company's transition from a shell company to an operating, development-stage entity focused on sports entertainment.
🚩 Red Flags
- Significant dilution risk via warrants issued for the acquisition.
- The company admits to current negative operating cash flows and a need for additional funding.
- Transition from shell company status often involves high volatility and speculative business models.
- Warrants include beneficial ownership limitations (4.999% / 9.999%) which can be adjusted.
📋 Key Facts
- Acquisition date: May 31, 2025.
- Consideration for trademark: $25,000 in cash and warrants to purchase 50,000 shares of common stock (25,000 per seller).
- Warrant terms: Exercise price of $5.75 per share; three-year term; exercisable only on a cash basis.
- Additional consideration: Sellers to receive six VIP tickets to all World Series of Pickleball events produced by the Company during their lifetimes.
- Company status change: Transitioned from a 'shell company' to a 'start-up/development stage company' effective May 31, 2025.
Global Acquisitions Corporation is changing its corporate name to Agassi Sports Entertainment Corp., effective March 31, 2025. The change was approved by the Board of Directors and will not affect the company's CUSIP number or ticker symbol (AASP).
🚩 Red Flags
- Name change often associated with a pivot in business model or rebranding to mask prior performance, though not inherently negative.
📋 Key Facts
- Company name changing from Global Acquisitions Corporation to Agassi Sports Entertainment Corp.
- Effective date of name change: March 31, 2025, at 12:01 A.M. EST.
- Ticker symbol 'AASP' remains unchanged on the OTC Pink Market.
- CUSIP number remains unchanged.
- The amendment was approved by the Board of Directors per Nevada Revised Statutes Section 78.390(8) without stockholder approval.
Global Acquisitions Corp announced the appointment of Shawn Cable as CFO and the issuance of significant equity warrants to consultants and the new CFO. The filing also notes that CEO Ronald Boreta is stepping down from his dual role as Principal Accounting/Financial Officer.
🚩 Red Flags
- Significant dilution potential: A total of 850,000 new shares could be issued via warrants (750,000 to consultants + 100,000 to CFO).
- Related-party equity grants: Large warrant packages granted to consultants as compensation for advisory services.
- Concentrated executive turnover/restructuring: CEO is relinquishing financial oversight roles.
📋 Key Facts
- Shawn Cable appointed as Chief Financial Officer effective March 6, 2025.
- Ronald Boreta stepped down as Principal Accounting/Financial Officer and Treasurer on March 6, 2025.
- Issuance of warrants to consultants Justin Gimblestob (500,000 shares) and Darren Cahill (250,000 shares) for advisory services.
- Issuance of CFO Warrants to Shawn Cable for 100,000 shares at an exercise price of $1.70 per share.
- Consulting warrants have a five-year term with a vesting schedule split between March 2025 and September 2026.
Global Acquisitions Corp. has adopted amended and restated bylaws to modernize corporate governance, update voting requirements to align with Nevada law, and expand officer roles.
🚩 Red Flags
- Increased Board control over meeting cancellations in the absence of a quorum.
📋 Key Facts
- Board of Directors adopted Amended and Restated Bylaws on January 7, 2025.
- Amendments allow for the issuance of uncertificated/book-entry shares.
- Voting requirements updated to align with Nevada law (votes cast in favor exceeding votes against).
- New provisions added for various officer roles including CEO, CFO, and Vice Presidents.
- Procedures established for electronic meetings (videoconferencing/teleconferencing).
- Board now has the authority to postpone or cancel meetings in the absence of a quorum.
Global Acquisitions Corp completed a private placement offering of restricted common stock, raising $2.5 million from 23 accredited investors. The proceeds are intended for business operations in the racquet sports entertainment sector, specifically pickleball and Padel.
🚩 Red Flags
- Issuance of restricted common stock that is not currently registered under the Securities Act, meaning these shares cannot be easily liquidated by investors in the public market.
📋 Key Facts
- Raised aggregate gross proceeds of $2,500,000 via a private placement.
- Offered 2,631,543 shares of restricted common stock at a price of $0.95 per share.
- The offering closed on November 7, 2024.
- Participation included 23 accredited investors under Rule 506(b) of Regulation D.
- Proceeds are earmarked for the global racquet sports entertainment business (pickleball and Padel) and working capital.
Global Acquisitions Corp announced a significant change in business strategy, pivoting toward the global sports entertainment and media industry. The filing also includes a board reshuffle involving the resignation of John Boreta and the appointment of James Askew.
🚩 Red Flags
- Significant pivot in business strategy often indicates a struggle with the previous core business model or an attempt to find new growth via speculative sectors.
- Board reshuffle occurring simultaneously with a major strategic shift can signal internal realignment or instability.
📋 Key Facts
- Effective October 31, 2024, John Boreta resigned from the Board of Directors; resignation was not due to any disagreement with the Company.
- James Askew appointed to the Board of Directors effective October 31, 2024.
- The Board of Directors size has been set at three (3) members.
- Company is pivoting business strategy toward 'global sports entertainment and media industry' per a press release dated November 1, 2024.
Global Acquisitions Corp entered into a share purchase agreement with All American Golf Center, Inc., an existing significant stockholder controlled by the company's CEO and a director. The transaction involves issuing 1,495,390 shares to settle $593,670 in payables previously paid by the creditor.
🚩 Red Flags
- Related-party transaction: The creditor is controlled by the CEO and a Director
- Debt-for-equity swap with an insider/related party to settle significant payables ($593,670)
- Issuance of large volume of warrants (nearly 3 million shares) to individuals for 'services and support'
📋 Key Facts
- Date of event: July 3, 2024
- Company entered into a share purchase agreement with All American Golf Center, Inc. (the 'Creditor')
- The Creditor is owned and controlled by Ronald S. Boreta (CEO/Director) and John Boreta (Director)
- 1,495,390 shares of Common Stock to be issued at an implied price of $0.397 per share
- Transaction purpose: Release of Company obligations to repay $593,670 in expenses previously paid by the Creditor
- Issued warrants to James Askew and Investments AKA, LLC (controlled by Andre K. Agassi) for a total of 2,974,999 shares at an exercise price of $0.397 per share
- Warrants are exercisable in two tranches: half immediately, half in one year