Document and Entity Information
Document and Entity Information - $ / shares | Sep. 06, 2019 | Mar. 31, 2018 |
Details | ||
Registrant Name | HOOPS SCOUTING USA | |
Registrant CIK | 0001721056 | |
Fiscal Year End | --06-30 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2018 | |
Document Transition Report | false | |
Entity File Number | 333-221200 | |
Entity Incorporation, State or Country Code | WY | |
Entity Tax Identification Number | 38-4010393 | |
Entity Address, Address Line One | 63 Rocio Court | |
Entity Address, City or Town | Palm Desert | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 92260 | |
City Area Code | 604 | |
Local Phone Number | 715-0887 | |
Entity Address, Address Description | Address, including zip code | |
Phone Fax Number Description | telephone number, including area code | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | true | |
Entity Listing, Par Value Per Share | $ 0.0001 | |
Entity Common Stock, Shares Outstanding | 500,000 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2018 | |
Document Fiscal Period Focus | Q3 |
Condensed statements of financi
Condensed statements of financial position (March 31, 2018 Unaudited) - USD ($) | Mar. 31, 2018 | Jun. 30, 2017 |
Current assets | ||
Cash | $ 1,714 | $ 6,674 |
Total assets | 1,714 | 6,674 |
Current liabilities | ||
Accounts payable and accrued liabilities | 1,350 | 0 |
Due to related party | 6,898 | 6,898 |
Total liabilities | 8,248 | 6,898 |
Stockholders' deficit | ||
Common Stock, Value | 50 | 50 |
Deficit | (6,584) | (274) |
Total stockholders' deficit | (6,534) | (224) |
Total liabilities and stockholders' deficit | $ 1,714 | $ 6,674 |
Condensed statements of finan_2
Condensed statements of financial position (March 31, 2018 Unaudited) - Parenthetical - $ / shares | Mar. 31, 2018 | Jun. 30, 2017 |
Details | ||
Common Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares, Issued | 500,000 | 500,000 |
Common Stock, Shares, Outstanding | 500,000 | 500,000 |
Condensed statements of operati
Condensed statements of operations and comprehensive loss (Unaudited) - USD ($) | 3 Months Ended | 5 Months Ended | 9 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2017 | Mar. 31, 2018 | |
Expenses | ||||
Bank charges and interest | $ 47 | $ 0 | $ 26 | $ 196 |
General and administrative | 0 | 0 | 248 | 0 |
Professional fees | 1,350 | 0 | 0 | 5,399 |
Transfer agent and filing fees | 715 | 0 | 0 | 715 |
Total Expenses | 2,112 | 0 | 274 | 6,310 |
Net loss and comprehensive loss for the period | $ (2,112) | $ 0 | $ (274) | $ (6,310) |
Loss Per Share, Basic and Diluted | $ 0 | $ 0 | $ 0 | $ (0.01) |
Weighted Average Shares Outstanding | 500,000 | 500,000 | 500,000 | 500,000 |
Condensed statements of cash fl
Condensed statements of cash flows (Unaudited) - USD ($) | 5 Months Ended | 9 Months Ended |
Mar. 31, 2017 | Mar. 31, 2018 | |
Operating activities | ||
Net loss | $ (274) | $ (6,310) |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Accounts payable and accrued liabilities | 0 | 1,350 |
Net cash used by operating activities | (274) | (4,960) |
Financing activities | ||
Proceeds from a related party | 6,898 | 0 |
Proceeds from issuance of common stock | 50 | 0 |
Net cash provided by financing activities | 6,948 | 0 |
Change in cash | 6,674 | (4,960) |
Cash and Cash Equivalents, at Carrying Value, Beginning Balance | 0 | 6,674 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 6,674 | 1,714 |
Supplemental disclosures: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
1. Nature of Operations and Con
1. Nature of Operations and Continuance of Business | 9 Months Ended |
Mar. 31, 2018 | |
Notes | |
1. Nature of Operations and Continuance of Business | 1. Nature of Operations and Continuance of Business Hoops Scouting USA (the Company) was incorporated in the State of Wyoming on October 31, 2016 . The Company is in the business of scouting high school and college basketball players in Colorado. These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and ultimately the attainment of profitable operations. As at March 31, 2018, the Company has not generated any revenues and has an accumulated deficit of $6,584 . These factors raise substantial doubt regarding the Companys ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
2. Significant Accounting Polic
2. Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2018 | |
Notes | |
2. Significant Accounting Policies | 2. Significant Accounting Policies (a) Basis of Presentation The accompanying interim condensed financial statements of the Company should be read in conjunction with the financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended June 30, 2017. In the opinion of management, the accompanying interim condensed financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Companys financial position and the results of its operations and its cash flows for the periods shown. (b) Use of Estimates and Judgments The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. It also requires management to exercise its judgment in the processing of applying the Companys accounting policies. The Company regularly evaluates estimates and assumptions related to deferred income tax valuation allowances. The Company bases its estimates and assumptions on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The impacts of such estimates and judgments are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates and judgments are recognized in the period in which the estimate is revised and future periods if the revision affects both current and future periods. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations |
3. Related Party Transactions
3. Related Party Transactions | 9 Months Ended |
Mar. 31, 2018 | |
Notes | |
3. Related Party Transactions | 3. Related Party Transactions As at March 31, 2018 the Company owed $6,898 (June 30, 2017 - $6,898 ) to the President and Director of the Company, which is unsecured, non-interest bearing, and due on demand. |
2. Significant Accounting Pol_2
2. Significant Accounting Policies: (a) Basis of Presentation (Policies) | 9 Months Ended |
Mar. 31, 2018 | |
Policies | |
(a) Basis of Presentation | (a) Basis of Presentation The accompanying interim condensed financial statements of the Company should be read in conjunction with the financial statements and accompanying notes filed with the U.S. Securities and Exchange Commission for the fiscal year ended June 30, 2017. In the opinion of management, the accompanying interim condensed financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Companys financial position and the results of its operations and its cash flows for the periods shown. |
2. Significant Accounting Pol_3
2. Significant Accounting Policies: (b) Use of Estimates and Judgments (Policies) | 9 Months Ended |
Mar. 31, 2018 | |
Policies | |
(b) Use of Estimates and Judgments | (b) Use of Estimates and Judgments The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. It also requires management to exercise its judgment in the processing of applying the Companys accounting policies. The Company regularly evaluates estimates and assumptions related to deferred income tax valuation allowances. The Company bases its estimates and assumptions on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The impacts of such estimates and judgments are pervasive throughout the financial statements, and may require accounting adjustments based on future occurrences. Revisions to accounting estimates and judgments are recognized in the period in which the estimate is revised and future periods if the revision affects both current and future periods. The actual results experienced by the Company may differ materially and adversely from the Companys estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. |
2. Significant Accounting Pol_4
2. Significant Accounting Policies: (c) Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Mar. 31, 2018 | |
Policies | |
(c) Recent Accounting Pronouncements | (c) Recent Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations |
1. Nature of Operations and C_2
1. Nature of Operations and Continuance of Business (Details) - USD ($) | 9 Months Ended | |
Mar. 31, 2018 | Jun. 30, 2017 | |
Details | ||
Entity Incorporation, State or Country Code | WY | |
Entity Incorporation, Date of Incorporation | Oct. 31, 2016 | |
Deficit | $ (6,584) | $ (274) |
3. Related Party Transactions (
3. Related Party Transactions (Details) - USD ($) | Mar. 31, 2018 | Jun. 30, 2017 |
Details | ||
Due to related party | $ 6,898 | $ 6,898 |