HOOPS SCOUTING USA Files 10-Q for Q3 2024

TL;DR

**HOOPS SCOUTING USA filed its Q3 2024 10-Q. Check financials.**

AI Summary

HOOPS SCOUTING USA filed a 10-Q report for the period ending March 31, 2024. The company, based in Palm Desert, CA, operates in computer processing and data preparation services. The filing details financial information and operational aspects for the period.

Why It Matters

This 10-Q filing provides investors with an update on HOOPS SCOUTING USA's financial performance and operational status for the third quarter of fiscal year 2024.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative disclosures.

Key Numbers

• 10000000000 — Total Assets (estimated) (This is a very large number, likely a placeholder or indicative of authorized shares rather than actual assets.)
• 0.0001 — Par Value per Share (Indicates a very low nominal value for each share.)
• 101250000 — Common Stock Value (Represents the value associated with common stock.)

Key Players & Entities

• HOOPS SCOUTING USA (company) — Filer of the 10-Q report
• PALM DESERT, CA (location) — Business and mailing address
• 760-636-4353 (phone_number) — Business phone number
• 20240331 (date) — Conformed period of report

FAQ

Key Financial Figures

• $0.0001 — he Registrant's common stock, par value $0.0001 per share, outstanding as of July 12, 2
• $32.000 — oceeds of $ 3,000 (As of June 30, 2021, $32.000) relating to share subscriptions for th
• $124 — arch 31, 2024, we had a cash balance of $124 and total assets of $8,027 compared to
• $8,027 — ash balance of $124 and total assets of $8,027 compared to cash and total assets of $4
• $44,623 — 27 compared to cash and total assets of $44,623 as at June 30, 2023. The decrease in to
• $228,687 — ne 30, 2023 we had total liabilities of $228,687 and $168,172 respectively. The increase
• $168,172 — e had total liabilities of $228,687 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
• $204,660 — 2024. Our working capital deficit was $204,660 as at March 31, 2024 compared to $107,5
• $107,549 — 04,660 as at March 31, 2024 compared to $107,549 as at June 30, 2023 respectively. Dur
• $18,819 — onths ended March 31, 2024, we incurred $18,819 of operating expenditures comprised of
• $10,489 — es, and transfer agent fees compared to $10,489 for amortization expenses, general and
• $97,111 — onths ended March 31, 2024, we incurred $97,111 of operating expenditures comprised of
• $24,253 — es, and transfer agent fees compared to $24,253 for amortization expenses, general and
• $68,587 — ne months ended March 31, 2024, we used $68,587 of cash for operating activities compar

Filing Documents

• hsct_10q.htm (10-Q) — 385KB
• hsct_ex311.htm (EX-31.1) — 12KB
• hsct_ex321.htm (EX-32.1) — 7KB
• 0001477932-24-004184.txt ( ) — 1739KB
• hsct-20240331.xsd (EX-101.SCH) — 20KB
• hsct-20240331_lab.xml (EX-101.LAB) — 114KB
• hsct-20240331_cal.xml (EX-101.CAL) — 24KB
• hsct-20240331_pre.xml (EX-101.PRE) — 92KB
• hsct-20240331_def.xml (EX-101.DEF) — 31KB
• hsct_10q_htm.xml (XML) — 144KB

Financial Statements

Item 1. Financial Statements HOOPS SCOUTING USA Condensed Balance Sheets (Expressed in U.S. dollars) March 31, 2024 June 30, 2023 (unaudited) $ $ Assets Current assets Cash 124 20 Inventory net 7,903 42,483 Advances - 2,120 Total current asset 8,027 44,623 Total assets 8,027 44,623 Liabilities and stockholders' deficit Current liabilities Accounts payable and accrued liabilities 8,311 16,487 Due to related party (Note 3) 204,376 135,685 Total current liabilities 212,687 152,172 Non-current liabilities Loans payable (Note 5) 16,000 16,000 Total liabilities 228,687 168,172 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 ( 355,710 ) ( 258,599 ) Total stockholders' deficit ( 220,660 ) ( 123,549 ) Total liabilities and stockholders' deficit 8,027 44,623 (The accompanying notes are an integral part of these condensed financial statements) 2 HOOPS SCOUTING USA Condensed statements of operations and comprehensive loss (Expressed in U.S. dollars) (unaudited) For the three months ended March 31, 2024 For the three months ended March 31, 2023 For the nine months ended March 31, 2024 For the nine months ended March 31, 2023 $ $ $ $ Expenses Amortization expenses - 3,927 - 3,927 Inventory valuation adjustment 14,291 - 64,208 - General and administrative 48 189 260 340 Professional fees 2,500 4,000 16,200 15,800 Transfer agent and filing fees 1,980 2,373 16,443 4,186 Total expenses 18,819 10,489 97,111 24,253 Net loss and comprehensive loss for the period ( 18,819 ) ( 10,489 ) ( 97,111 ) ( 24,253 ) Loss per share, basic and diluted ( 0.00 ) ( 0.00 ) ( 0.00 ) ( 0.00 ) Weigh

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

Item 2. 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 March 31, 2024, we had a cash balance of $124 and total assets of $8,027 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 March 31, 2024, and June 30, 2023 we had total liabilities of $228,687 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 March 31, 2024 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-interest bea

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View this 10-Q filing on SEC EDGAR