HOOPS SCOUTING USA Files Quarterly Report (10-Q) for Period Ended September 30, 2023

TL;DR

<b>HOOPS SCOUTING USA has filed its quarterly report (10-Q) for the period ending September 30, 2023.</b>

AI Summary

HOOPS SCOUTING USA (HSCT) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. HOOPS SCOUTING USA filed a Form 10-Q for the quarterly period ended September 30, 2023. The filing is dated January 16, 2024. The company's principal executive offices are located at 63 Rocio Ct, Palm Desert, CA 92260. The company's fiscal year ends on June 30. The filing covers the period from July 1, 2023, to September 30, 2023.

Why It Matters

For investors and stakeholders tracking HOOPS SCOUTING USA, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and operational status for the third quarter of its fiscal year. The information contained within this report is crucial for understanding the company's current financial health, any recent developments, and its outlook for the remainder of the fiscal year.

Risk Assessment

Risk Level: low — HOOPS SCOUTING USA shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent significant financial changes or new risks beyond typical business operations.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess HOOPS SCOUTING USA's performance and identify any emerging trends or risks.

Key Numbers

• 2023-09-30 — Quarterly Period End Date (Reported period)
• 2024-01-16 — Filing Date (Date of submission)
• 760-636-4353 — Business Phone Number (Contact information)

Key Players & Entities

• HOOPS SCOUTING USA (company) — Filer name
• September 30, 2023 (date) — Quarterly period ended
• January 16, 2024 (date) — Filing date
• 63 Rocio Ct, Palm Desert, CA 92260 (address) — Business address
• Wyoming (location) — State of incorporation
• 0001721056 (company) — Central Index Key

FAQ

Industry Context

HOOPS SCOUTING USA operates within the Services-Computer Processing & Data Preparation industry (SIC code 7374).

Regulatory Implications

The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, indicating compliance with standard SEC reporting requirements for public companies.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow statement) for the quarter ended September 30, 2023.
2. Review the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and trends.
3. Check for any new disclosures regarding risks, legal proceedings, or significant business developments.

Key Dates

• 2023-09-30: Quarterly Period End — End date for the financial reporting period covered by the 10-Q.
• 2024-01-16: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is a 10-Q filing, representing a standard quarterly update. No prior filing data is available in the provided text for comparison.

Key Financial Figures

• $0.0001 — he Registrant's common stock, par value $0.0001 per share, outstanding as of January 16
• $220 — mber 30, 2023, we had a cash balance of $220 and total assets of $29,856 compared to
• $29,856 — ash balance of $220 and total assets of $29,856 compared to cash and total assets of $4
• $44,623 — 56 compared to cash and total assets of $44,623 as at June 30, 2023. The decrease in to
• $191,859 — ne 30, 2023 we had total liabilities of $191,859 and $168,172 respectively. The increase
• $168,172 — e had total liabilities of $191,859 and $168,172 respectively. The increase in liabiliti
• $16,000 — oans payable to non-related parties for $16,000, which are unsecured, non-interest bear
• $156,003 — 2023. Our working capital deficit was $156,003 as at September 30, 2023 compared to $1
• $107,549 — 03 as at September 30, 2023 compared to $107,549 as at June 30, 2023 respectively. Dur
• $48,454 — s ended September 30, 2023, we incurred $48,454 of operating expenditures comprised of
• $3,413 — es, and transfer agent fees compared to $3,413 for general and administrative, profess
• $200 — onths ended September 30, 2023, we used $200 of cash for operating activities compar
• $307,053 — $ 156,003 and an accumulated deficit of $307,053. The continuation of the Company as a g

Filing Documents

• hsct_10q.htm (10-Q) — 280KB
• hosu_ex311.htm (EX-31.1) — 9KB
• hosu_ex321.htm (EX-32.1) — 6KB
• 0001477932-24-000181.txt (&nbsp;) — 1500KB
• hsct-20230930.xsd (EX-101.SCH) — 19KB
• hsct-20230930_lab.xml (EX-101.LAB) — 108KB
• hsct-20230930_cal.xml (EX-101.CAL) — 21KB
• hsct-20230930_pre.xml (EX-101.PRE) — 85KB
• hsct-20230930_def.xml (EX-101.DEF) — 26KB
• hsct_10q_htm.xml (XML) — 105KB

Financial Statements

Financial Statements HOOPS SCOUTING USA Condensed Balance Sheets (Expressed in U.S. dollars) September 30, 2023 June 30, 2023 (unaudited) $ $ Assets Current assets Cash 220 20 Inventory net 19,636 42,483 Advances - 2,120 Total current asset 19,856 44,623 Total assets 19,856 44,623 Liabilities and stockholders' deficit Current liabilities Accounts payable and accrued liabilities 20,131 16,487 Due to related party (Note 3) 155,728 135,685 Total current liabilities 175,859 152,172 Non-current liabilities Loans payable (Note 5) 16,000 16,000 Total liabilities 191,859 168,172 Nature of operations and continuance of business (Note 1) Stockholders' deficit Common stock Authorized: 10,000,000,000 common shares, $ 0.0001 par value 101,250,000 shares issued and outstanding 10,125 10,125 Additional paid-in capital 124,925 124,925 Deficit ( 307,053 ) ( 258,599 ) Total stockholders' deficit ( 172,003 ) ( 123,549 ) Total liabilities and stockholders' deficit 19,856 44,623 (The accompanying notes are an integral part of these condensed financial statements) F-1 HOOPS SCOUTING USA Condensed Statements of Operations and Comprehensive Loss (Expressed in U.S. dollars) (unaudited) For the three months ended September 30, 2023 For the three months ended September 30, 2022 $ $ Expenses Inventory valuation adjustment 30,860 - General and administrative 164 103 Professional fees 6,000 3,000 Transfer agent and filing fees 11,430 310 Total expenses 48,454 3,413 Net loss and comprehensive loss for the period ( 48,454 ) ( 3,413 ) Loss per share, basic and diluted ( 0.00 ) ( 0.00 ) Weighted average shares outstanding 101,250,000 63,750,000 (The accompanying notes are an integral part of these condensed financial statements) F-2 HOOPS SCOUTING USA Condensed Statements of Stockholders' Deficit (Expressed in US dollars) (unaudited) Com

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. Liquidity and Capital Resources As of September 30, 2023, we had a cash balance of $220 and total assets of $29,856 compared to cash and total assets of $44,623 as at June 30, 2023. The decrease in total assets was due to inventory impairment. As at September 30, 2023, and June 30, 2023 we had total liabilities of $191,859 and $168,172 respectively. The increase in liabilities was due amounts due to a related party for operating costs and the purchase of inventory. Our liabilities at September30, 2023 and June 30, 2023 were comprised of amounts due to our President and Director and for two loans payable to non-related parties for $16,000, which are unsecured, non-

Controls and Procedures

Controls and Procedures Evaluation of Disclosure Controls and Procedures As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the evaluation, both the Principal Executive Officer and the Principal Financial Officer concluded that our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934, were not effective as of September 30, 2023. Internal Control over Financial Reporting There was no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) promulgated under the Securities Act of 1934) that materially affected, or is reasonably likely to materially affect, such internal control over financial reporting during the quarter ended September 30, 2023. BF Borgers CPA PC our independent auditors, were not required and have not performed an assessment of our internal controls over financial reporting for effectiveness. 3

— OTHER INFORMATION

Part II — OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings None. Item 1A.

Risk Factors

Risk Factors Not applicable to smaller reporting companies. Item 2. Unregistered Sales of Equity Securities and Use of Proceeds None. Item 3. Defaults Upon Senior Securities None. Item 4. Mine Safety Disclosures. Not applicable. Item 5. Other Information None. 4 Item 6. Exhibits No. Description 31.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a). 32.1 Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002. 101.INS Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) 101.SCH Inline XBRL Taxonomy Extension Schema Document 101.CAL Inline XBRL Taxonomy Calculation Linkbase Document 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Label Linkbase Document 101.PRE Inline XBRL Taxonomy Presentation Linkbase Do

View Full Filing

View this 10-Q filing on SEC EDGAR