Hoops Scouting USA (HSCT) 10-Q 23 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	Nov. 18, 2020	Mar. 31, 2020
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, 2020
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		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		2020
Document Fiscal Period Focus		Q3

Condensed Balance Sheets (March

Condensed Balance Sheets (March 31, 2020 Unaudited) - USD ($)	Mar. 31, 2020	Jun. 30, 2019
Current assets
Cash	$ 190	$ 302
Total assets	190	302
Current liabilities
Accounts payable and accrued liabilities	1,750	7,485
Due to related party (Note 3)	19,188	11,898
Total liabilities	20,938	19,383
Stockholders' deficit
Common Stock, Value	50	50
Deficit	(20,798)	(19,131)
Total stockholders' deficit	(20,748)	(19,081)
Total liabilities and stockholders' deficit	$ 190	$ 302

Condensed Balance Sheets (Mar_2

Condensed Balance Sheets (March 31, 2020 Unaudited) - Parenthetical - $ / shares	Mar. 31, 2020	Jun. 30, 2019
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		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Expenses
Bank charges and interest	$ 42	$ 42	$ 112	$ 126
Professional fees	0	1,350	0	7,700
Transfer agent and filing fees	0	0	1,555	0
Total expenses	42	1,392	1,667	7,826
Net loss and comprehensive loss for the period	$ (42)	$ (1,392)	$ (1,667)	$ (7,826)
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 Stockho

Condensed Statements of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock	Retained Earnings	Total
Equity Balance, Starting at Jun. 30, 2018	$ 50	$ (8,197)	$ (8,147)
Shares Outstanding, Starting at Jun. 30, 2018	500,000
Net Income (Loss)	$ 0	(5,042)	(5,042)
Shares Outstanding, Ending at Sep. 30, 2018	500,000
Equity Balance, Ending at Sep. 30, 2018	$ 50	(13,239)	(13,189)
Net Income (Loss)	$ 0	(1,392)	(1,392)
Shares Outstanding, Ending at Dec. 31, 2018	500,000
Equity Balance, Ending at Dec. 31, 2018	$ 50	(14,631)	(14,581)
Net Income (Loss)	$ 0	(1,392)	(1,392)
Shares Outstanding, Ending at Mar. 31, 2019	500,000
Equity Balance, Ending at Mar. 31, 2019	$ 50	(16,023)	(15,973)
Equity Balance, Starting at Jun. 30, 2019	$ 50	(19,131)	(19,081)
Shares Outstanding, Starting at Jun. 30, 2019	500,000
Net Income (Loss)	$ 0	(28)	(28)
Shares Outstanding, Ending at Sep. 30, 2019	500,000
Equity Balance, Ending at Sep. 30, 2019	$ 50	(19,159)	(19,109)
Net Income (Loss)	$ 0	(1,597)	(1,597)
Shares Outstanding, Ending at Dec. 31, 2019	500,000
Equity Balance, Ending at Dec. 31, 2019	$ 50	(20,756)	(20,706)
Net Income (Loss)	$ 0	(42)	(42)
Shares Outstanding, Ending at Mar. 31, 2020	500
Equity Balance, Ending at Mar. 31, 2020	$ 50	$ (20,798)	$ (20,748)

Condensed statements of cash fl

Condensed statements of cash flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities
Net loss	$ (1,667)	$ (7,826)
Changes in operating assets and liabilities:
Net cash used by operating activities	(112)	(126)
Accounts payable and accrued liabilities	(5,735)	2,700
Due to related party	7,290	5,000
Change in cash	(112)	(126)
Cash and Cash Equivalents, at Carrying Value, Beginning Balance	302	1,451
Cash and Cash Equivalents, at Carrying Value, Ending Balance	190	1,325
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, 2020
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 interim condensed 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, 2020, the Company has not generated any revenues, has a working capital deficit of $20,748, and an accumulated deficit of $20,798. These factors raise substantial doubt regarding the Company’s 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, 2020
Notes
2. Significant Accounting Policies	2. Significant Accounting Policies (a) 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, 2019. In the opinion of management, the accompanying interim condensed financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s financial position and the results of its operations and its cash flows for the periods shown. (b) The preparation of condensed 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 Company’s 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 Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. (c) 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, 2020
Notes
3. Related Party Transactions	3. Related Party Transactions As at March 31, 2020 the Company owed $19,188 (June 30, 2019 - $11,898) 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, 2020
Policies
(a) Basis of Presentation	(a) 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, 2019. In the opinion of management, the accompanying interim condensed financial statements reflect all adjustments of a recurring nature considered necessary to present fairly the Company’s 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, 2020
Policies
(b) Use of Estimates and Judgments	(b) The preparation of condensed 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 Company’s 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 Company’s 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, 2020
Policies
(c) Recent Accounting Pronouncements	(c) 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, 2020	Jun. 30, 2019
Details
Entity Incorporation, State or Country Code	WY
Entity Incorporation, Date of Incorporation	Oct. 31, 2016
Total stockholders' deficit	$ (20,748)	$ (19,081)
Deficit	$ (20,798)	$ (19,131)

3. Related Party Transactions (

3. Related Party Transactions (Details) - USD ($)	9 Months Ended
	Mar. 31, 2020	Jun. 30, 2019
Details
Due to related party (Note 3)	$ 19,188	$ 11,898
Debt Instrument, Collateral	unsecured
Debt Instrument, Interest Rate, Stated Percentage	0.00%
Debt Instrument, Payment Terms	due on demand