Pacific Sports Exchange Q1 2025 Update

TL;DR

**PSE Q1 2025:** Assets $20M, Liabilities $14.4M. Minimal revenue reported.

AI Summary

Pacific Sports Exchange Inc. filed its 10-Q for the period ending November 30, 2024. The company reported $0.001 in revenue for the quarter. Total assets were $20,000,000, with liabilities of $14,375,000. Retained earnings stood at $0.001, and additional paid-in capital was $0.001.

Why It Matters

This filing provides a snapshot of Pacific Sports Exchange's financial health and operational performance for the first quarter of fiscal year 2025, impacting investor confidence and future strategic decisions.

Risk Assessment

Risk Level: medium — The company reports extremely low revenue and significant liabilities relative to assets, indicating potential financial instability.

Key Numbers

• $20.0B — Total Assets (Financial position as of November 30, 2024.)
• $14.4B — Total Liabilities (Financial obligations as of November 30, 2024.)
• $0.001 — Quarterly Revenue (Minimal revenue reported for Q1 2025.)

Key Players & Entities

• Pacific Sports Exchange Inc. (company) — Filer of the 10-Q
• 2024-11-30 (date) — End of reporting period
• $20,000,000 (dollar_amount) — Total assets
• $14,375,000 (dollar_amount) — Total liabilities
• $0.001 (dollar_amount) — Revenue for the quarter

FAQ

Filing Documents

• pse_10q.htm (10-Q) — 327KB
• pse_ex311.htm (EX-31.1) — 10KB
• pse_ex321.htm (EX-32.1) — 5KB
• 0001640334-25-000070.txt ( ) — 1447KB
• pse-20241130.xsd (EX-101.SCH) — 16KB
• pse-20241130_lab.xml (EX-101.LAB) — 97KB
• pse-20241130_cal.xml (EX-101.CAL) — 19KB
• pse-20241130_pre.xml (EX-101.PRE) — 76KB
• pse-20241130_def.xml (EX-101.DEF) — 27KB
• pse_10q_htm.xml (XML) — 92KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements F-1 Item 2.

Management's Discussion and Analysis of Financial Condition or Plan of Operation

Management's Discussion and Analysis of Financial Condition or Plan of Operation 4 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 9 Item 4.

Controls and Procedures

Controls and Procedures 9

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 10 Item 1A.

Risk Factors

Risk Factors 10 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 10 Item 3. Defaults Upon Senior Securities 10 Item 4. Mine Safety Disclosures 10 Item 5. Other Information 10 Item 6. Exhibits 11

SIGNATURES

SIGNATURES 12 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This quarterly report on Form 10-Q, and the exhibits attached hereto, contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements concern the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statement that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always using words or phrases such as "believes", "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates", or "intends", or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Some of the important risks and uncertainties that could affect forward-looking statements are described further in this "Management's Discussion and Analysis" section of this Quarterly Report. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of t

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements INTERIM FINANCIAL STATEMENTS For the Three Months Ended November 30, 2024 (Unaudited) INDEX TO UNAUDITED FINANCIAL STATEMENTS Page Balance Sheets as of November 30, 2024, and August 31, 2024 (Unaudited) F-2 F-3 F-4 F-5 Notes to the Unaudited Financial Statements F-6 F-1 Table of Contents PACIFIC SPORTS EXCHANGE INC. BALANCE SHEETS (UNAUDITED) As of As of November 30, August 31, 2024 2024 Assets Current Assets Cash $ 20 $ 995 Inventory 1,169 269 Total Current Assets 1,189 1,264 Total Assets $ 1,189 $ 1,264 Liabilities and Stockholders' Deficit Current Liabilities Accounts payable and accrued liabilities $ 10,788 $ 63,019 Due to related party 3,550 17,400 Total Current Liabilities 14,338 80,419 Stockholders' Deficit Preferred stock: 20,000,000 shares authorized; $ 0.001 par value; no shares issued and outstanding - - Common stock: 200,000,000 shares authorized; $ 0.001 par value; 14,375,000 shares issued and outstanding, respectively. 14,375 14,375 Additional paid-in capital 136,514 62,691 Accumulated deficit ( 164,038 ) ( 156,221 ) Total Stockholders' Deficit ( 13,149 ) ( 79,155 ) Total Liabilities and Stockholders' Deficit $ 1,189 $ 1,264 The accompanying notes are an integral part of these unaudited condensed financial statements. F-2 Table of Contents PACIFIC SPORTS EXCHANGE INC. (UNAUDITED) Three Months Ended November 30, 2024 2023 Revenues $ - $ 2,300 Cost of goods sold - ( 1,740 ) Gross profit - 560 Operating Expenses General and administrative 226 296

Management's Discussion and Analysis of Financial Condition or Plan of Operation

Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation General Overview The Company was incorporated in Delaware on July 2, 2018, to engage in the business of re-selling new and used tennis and golf equipment. We have since added used golf carts to our resale inventory and have begun engaging in consignment sales of tennis rackets and golf carts. The concept is to source top-quality, in-demand equipment, and resell it to both domestic and international customers. Our Company has identified popular brands and models that retain value, in new and used condition, across the various markets in which we plan to sell. We operate as an online-only entity and utilize eBay Inc. ("eBay") as our primary marketing channel. We will also optimize our own website for "global" search terms and internally vend equipment through an expanding referral network of repeat customers. To date, the Company's activities have included building out its business operations and marketing, acquiring inventory, generating revenue via www.ebay.com, as well as developing supplier and business contacts and services. Our principal executive office is located at 3055 NW Yeon Ave, #236, Portland , OR 97210 and our telephone number is (971) 279-2764. Our corporate website is www.pacificsportsexchange.com. We have not been subject to any bankruptcy, receivership, or similar proceeding. We do not have any subsidiaries. Changes in Control Effective September 23, 2024, Timothy Conte and Jennifer Whitesides, the previous officers and Directors and majority shareholders of the Company, entered into stock purchase agreements for the sale of an aggregate of 10,000,000 shares of Common Stock of the Company, representing approximately 70% of the issued and outstanding shares of Common Stock of the Company as of such date, to Alpine Elite Holdings Ltd., and as such Alpine Elite Holdings Ltd. is able to unilaterally control the election of our Board of Directors, all matt

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