Shorepower Technologies Files S-1/A Amendment

TL;DR

<b>Shorepower Technologies, Inc. has filed an S-1/A amendment with the SEC on March 19, 2024.</b>

AI Summary

SHOREPOWER TECHNOLOGIES INC. (SPEV) filed a Amended IPO Registration (S-1/A) with the SEC on March 19, 2024. Shorepower Technologies, Inc. filed an S-1/A registration statement amendment. The filing is dated March 19, 2024, with the SEC. The company is incorporated in Delaware and its fiscal year ends on February 29. Its principal executive offices are located in Hillsboro, Oregon. The filing is classified as a smaller reporting company and a non-accelerated filer.

Why It Matters

For investors and stakeholders tracking SHOREPOWER TECHNOLOGIES INC., this filing contains several important signals. This S-1/A filing indicates an ongoing process for the company to register securities, potentially for public offering or other capital-raising activities. The classification as a smaller reporting company and non-accelerated filer provides context on the company's size and reporting obligations.

Risk Assessment

Risk Level: — SHOREPOWER TECHNOLOGIES INC. shows moderate risk based on this filing. The filing is an amendment to a registration statement, indicating ongoing regulatory processes rather than immediate financial events.

Analyst Insight

Monitor future filings for updates on the company's registration status and potential offerings.

Key Numbers

• 333-274184 — Registration Statement Number (SEC Filing)
• 06-1120072 — I.R.S. Employer Identification No. (Company Identification)
• 0229 — Fiscal Year End (Company Financials)
• 2024-03-19 — Filing Date (SEC Filing)

Key Players & Entities

• SHOREPOWER TECHNOLOGIES, INC. (company) — Registrant
• Jeff Kim (person) — CEO
• Ernest M. Stern (person) — Esq.
• Culhane Meadows PLLC (company) — Legal Counsel
• Delaware (jurisdiction) — State of incorporation
• OR (location) — State of business address
• Washington, D.C. (location) — Address of Legal Counsel
• Securities Act of 1933 (regulation) — Act under which registration is filed

FAQ

Industry Context

The company operates in the Miscellaneous Transportation Equipment sector.

Regulatory Implications

The filing is made under the Securities Act of 1933, which governs the registration of securities.

What Investors Should Do

1. Review the full S-1/A filing for details on the securities being registered.
2. Track subsequent amendments or filings for updates on the company's offering status.
3. Analyze the company's business and financial information disclosed in the registration statement.

Year-Over-Year Comparison

This is an amendment to a previous filing, indicating updates or corrections to the initial registration statement.

Key Financial Figures

• $0 — ling Stockholders") at a fixed price of $0.06, the closing price of our common sto
• $2,750,000 — ver, we may receive up to approximately $2,750,000 in gross proceeds upon the cash exercis
• $0.06 — rted sale price of our common stock was $0.06. Investing in our securities involves
• $16 million — r. To date we have raised approximately $16 million through grants and contracts from the f
• $453,954 — and state Governments and have received $453,954 in loans through Jeff Kim, our Presiden
• $10,000 — 0 days per year could cost in excess of $10,000 per year in wasted diesel fuel. By usin
• $480,000 — warrant financing to have a minimum of $480,000 in cash at closing (the "USBL Pre-Merge
• $660,000 — e USBL Pre-Merger Financing that raised $660,000. Shorepower has received 2,000,000 shar
• $1.0 billion — h Company As a company with less than $1.0 billion in revenue during our most recently com
• $10M — mmon stock upon (a) the application for $10M in grants and/or the (b) the award of $
• $1.0 million — M in grants and/or the (b) the award of $1.0 million in grants in the first 18 months; (iii)
• $3.0 million — first 24 months generating no less than $3.0 million in gross revenues and (iv) an additiona
• $1,400,000 — sferred its current debt obligations of $1,400,000 to us. Shorepower agreed that in assumi
• $2,000 — Company that it would not pay more than $2,000 per month from the proceeds of the pre-
• $0.25 — e for two years at an exercise price of $0.25 per share of warrant stock that is call

Filing Documents

• forms-1a.htm (S-1/A) — 1571KB
• forms-1_001.jpg (GRAPHIC) — 10KB
• forms-1_002.jpg (GRAPHIC) — 9KB
• forms-1_003.jpg (GRAPHIC) — 17KB
• forms-1_004.jpg (GRAPHIC) — 61KB
• ex2-2.htm (EX-2.2) — 1KB
• ex3-2.htm (EX-3.2) — 8KB
• ex3-3.htm (EX-3.3) — 1KB
• ex3-4.htm (EX-3.4) — 179KB
• ex5-1.htm (EX-5.1) — 16KB
• ex10-1.htm (EX-10.1) — 46KB
• ex10-2.htm (EX-10.2) — 49KB
• ex10-7.htm (EX-10.7) — 137KB
• ex16-1.htm (EX-16.1) — 6KB
• ex23-1.htm (EX-23.1) — 4KB
• ex23-3.htm (EX-23.3) — 4KB
• ex99-1.htm (EX-99.1) — 137KB
• ex99-2.htm (EX-99.2) — 195KB
• ex107.htm (EX-FILING FEES) — 10KB
• ex2-2_001.jpg (GRAPHIC) — 240KB
• ex3-2_001.jpg (GRAPHIC) — 350KB
• ex3-2_002.jpg (GRAPHIC) — 461KB
• ex3-2_003.jpg (GRAPHIC) — 387KB
• ex3-2_004.jpg (GRAPHIC) — 351KB
• ex3-2_005.jpg (GRAPHIC) — 426KB
• ex3-2_006.jpg (GRAPHIC) — 434KB
• ex3-2_007.jpg (GRAPHIC) — 383KB
• ex3-2_008.jpg (GRAPHIC) — 351KB
• ex3-2_009.jpg (GRAPHIC) — 62KB
• ex3-3_001.jpg (GRAPHIC) — 146KB
• ex5-1_001.jpg (GRAPHIC) — 76KB
• image_001.jpg (GRAPHIC) — 37KB
• ex23-3_001.jpg (GRAPHIC) — 35KB
• ex99-1_001.jpg (GRAPHIC) — 3KB
• aud_001.jpg (GRAPHIC) — 10KB
• aud_002.jpg (GRAPHIC) — 2KB
• 0001493152-24-010392.txt (&nbsp;) — 8397KB
• spev-20231130.xsd (EX-101.SCH) — 19KB
• spev-20231130_def.xml (EX-101.DEF) — 26KB
• spev-20231130_lab.xml (EX-101.LAB) — 81KB
• spev-20231130_pre.xml (EX-101.PRE) — 25KB
• forms-1a_htm.xml (XML) — 5KB

USE OF PROCEEDS

USE OF PROCEEDS 31 MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS 32 SELLING STOCKHOLDERS 32

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 34

BUSINESS

BUSINESS 38 MANAGEMENT 45

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 48 PRINCIPAL SECURITYHOLDERS 51 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 52

DESCRIPTION OF SECURITIES

DESCRIPTION OF SECURITIES 52 INDEMNIFICATION OF OFFICERS AND DIRECTORS 55 SHARES ELIGIBLE FOR FUTURE SALE 56 PLAN OF DISTRIBUTION 57 LEGAL MATTERS 58 EXPERTS 58 WHERE YOU CAN FIND MORE INFORMATION 58 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 3 Trademarks This prospectus contains references to our trademarks and service marks and to those belonging to other entities. Solely for convenience, trademarks and trade names referred to in this prospectus may appear without the or TM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent possible under applicable law, our rights or the rights of the applicable licensor to these trademarks and trade names. We do not intend our use or display of other companies' trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by any other companies. PROSPECTUS SUMMARY The following summary highlights information contained elsewhere in this prospectus. This summary may not contain all of the information that may be important to you. You should read this entire prospectus carefully, including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our historical financial Company," "Shorepower Technologies", "United States Basketball League," "USBL," "we," "us," and "our" refer to Shorepower Technologies, Inc. The Company Overview We are a transportation electrification company that builds, deploys and operates plug-in stations that allow electric vehicles, trucks and refrigerated trailers to conveniently access electric power while parked or staged, resulting in cost savings for fleets and drivers that will not have to use petroleum fuel thus significantly reducing associated toxic

View Full Filing

View this S-1/A filing on SEC EDGAR