Hoops Scouting USA (HSCT) 10-Q/A 2 Dec 24 2023 Q1 Quarterly report (amended) Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2022	Nov. 27, 2024
Cover [Abstract]
Entity Registrant Name	HOOPS SCOUTING USA
Entity Central Index Key	0001721056
Document Type	10-Q/A
Amendment Flag	true
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	true
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		63,750,000
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-260704
Entity Incorporation State Country Code	WY
Entity Tax Identification Number	38-4010393
Entity Interactive Data Current	Yes
Entity Address Address Line 1	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	760
Local Phone Number	636-4353
Amendment Description	None

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Current assets
Cash	$ 222	$ 392
Total current assets	222	392
Total assets	222	392
Current liabilities
Accounts payable and accrued liabilities	1,146	4,903
Due to related party (Note 3)	65,581	61,581
Total current liabilities	66,727	66,484
Non-current liabilities
Loans Payable (Note 5)	16,000	16,000
Total liabilities	82,727	82,484
Stockholders' deficit
Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022	6,375	6,375
Additional paid-in capital	28,675	28,675
Accumulated deficit	(117,555)	(117,142)
Total stockholders' deficit	(82,505)	(82,092)
Total liabilities and stockholders' deficit	$ 222	$ 392

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Jun. 30, 2022
Condensed Balance Sheets
Common Stock, Shares Authorized	10,000,000,000	10,000,000,000
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares, Issued	63,750,000	63,750,000
Common Stock, Shares, Outstanding	63,750,000	63,750,000

Condensed statements of operati

Condensed statements of operations (unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Expenses
General and administrative	$ 103	$ 565
Professional fees	0	15,450
Transfer agent and filing fees	310	815
Total expenses	413	16,830
Net loss	$ (413)	$ (16,830)
Net loss per common share - basic and diluted	$ 0	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	63,750,000	37,500,000

Condensed Statements of Stockho

Condensed Statements of Stockholders Deficit (unaudited) - USD ($)	Total	Common Stock [Member]	Share Subscriptions Received [Member]	Additional Paid-In Capital [Member]	Accumulated deficit [Member]
Balance, shares at Jun. 30, 2021		37,500,000
Balance, amount at Jun. 30, 2021	$ (32,649)	$ 3,750	$ 32,000	$ (3,700)	$ (64,699)
Share subscriptions received	3,000	0	3,000	0	0
Net loss for the period	(16,830)	0		0	(16,830)
Balance, amount at Sep. 30, 2021	(46,479)	$ 3,750	35,000	(3,700)	(81,529)
Balance, shares at Sep. 30, 2021		37,500,000
Balance, shares at Jun. 30, 2022		63,750,000
Balance, amount at Jun. 30, 2022	(82,092)	$ 6,375	0	28,675	(117,142)
Net loss for the period	(413)	0	0	0	(413)
Balance, amount at Sep. 30, 2022	$ (82,505)	$ 6,375	$ 0	$ 28,675	$ (117,555)
Balance, shares at Sep. 30, 2022		63,750,000

Condensed statements of cash fl

Condensed statements of cash flows (unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash Flows from Operating Activities:
Net loss	$ (413)	$ (16,830)
Changes in operating assets and liabilities:
Increase (Decrease) in accounts payable and accrued liabilities	(3,757)	3,395
Net cash used in operating activities	(4,170)	(13,435)
Cash Flows from Financing Activities:
Proceeds from related parties	4,000	0
Proceeds from share subscriptions received	0	3,000
Net cash provided by financing activities	4,000	3,000
Net increase (decrease) in cash, cash equivalents and restricted cash	(170)	(10,435)
Cash, cash equivalents and restricted cash at beginning of the period	392
Cash, cash equivalents and restricted cash at end of the period	222	10,586
Supplemental Cash Flow Information:
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

Nature of Operations and Contin

Nature of Operations and Continuance of Business	3 Months Ended
	Sep. 30, 2022
Nature of Operations and Continuance of Business
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. On March 11, 2020, the World Health Organization declared COVID-19 a global pandemic. This contagious disease outbreak and any related adverse public health developments, has adversely affected workforces, economies, and financial markets globally, leading to an economic downturn. The impact on the Company has not been significant, but management continues to monitor the situation. These 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. During the period ended September 30, 2022, the Company had no revenues and incurred a net loss of $413. As at September 30, 2022, the Company has a working capital deficit of $(66,505) and an accumulated deficit of $117,555. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These condensed 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.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Sep. 30, 2022
Significant Accounting Policies
Significant Accounting Policies	2. Significant Accounting Policies (a) Basis of Presentation The accompanying 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, 2022. In the opinion of management, the accompanying 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) Use of Estimates and Judgments The preparation of these 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) 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.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2022
Related Party Transactions
Related Party Transactions	3. Related Party Transactions During the three months ended September 30, 2022, president of the company contributed $4,000 towards operating expenses. As at September 30, 2022, the Company owed $65,581 (June 30, 2022 - $61,581) to the President and Director of the Company, which is unsecured, non-interest bearing, and due on demand.

Common Stock

Common Stock	3 Months Ended
	Sep. 30, 2022
Common Stock
Common Stock	4. Common Stock During the three months ended September 30, 2021, the Company received proceeds of $3,000 (As of June 30, 2021 $32.000) relating to share subscriptions for the issuance of common shares at $0.10 per share. On October 15, 2021, the Company issued (350,000 before split) 26,250,000 common shares at $0.10 per share for proceeds of $35,000, of which $32,000 were received during the year ended June 30, 2021. On June 9, 2023, the Company executed forward stock split at 75:1 As at September 30, 2022 and June 30, 2021 common shares issued and outstanding is 63,750,000 (850,000 before split) and 63,750,000 (850,000 before split) shares respectively.

Loans Payable

Loans Payable	3 Months Ended
	Sep. 30, 2022
Loans Payable
Loans Payable	5. Loans Payable As at September 30, 2022, the Company owed $16,000 (June 30, 2022 - $16,000) to non-related parties for loans payable. The amounts owing are unsecured, non-interest bearing, and due on or before December 31, 2022.

Restatement

Restatement	3 Months Ended
	Sep. 30, 2022
Restatement
Restatement	6. Restatement The following are previously recorded and restated balances as of September 30,2022. HOOPS SCOUTING USA Restated Balance Sheets September 30, 2022 September 30, 2022 September 30, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Assets Current assets Cash $ 222 $ - $ 222 Total current assets 222 - 222 Total assets $ 222 $ - $ 222 Liabilities and stockholders’ deficit Current liabilities Accounts payable and accrued liabilities $ 4,146 $ (3,000 ) $ 1,146 Due to related party (Note 3) 65,581 - 65,581 Total current liabilities 69,727 (3,000 ) 66,727 Non-current liabilities Loans payable (Note 5) 16,000 - 16,000 Total liabilities $ 85,727 $ (3,000 ) $ 82,727 Stockholders’ deficit Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022 $ 6,375 $ - $ 6,375 Additional paid-in capital 28,675 - 28,675 Accumulated deficit (120,555 ) 3,000 (117,555 ) Total stockholders’ deficit $ (85,505 ) $ 3,000 $ (82,505 ) Total liabilities and stockholders’ deficit $ 222 $ - $ 222 (The accompanying notes are an integral part of these condensed unaudited financial statements) HOOPS SCOUTING USA Restated Statement of Operations (unaudited) For the three months ended September 30, 2022 For the three months ended September 30, 2022 For the three months ended September 30, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Expenses General and administrative $ 103 $ - $ 103 Professional fees 3,000 (3,000 ) - Transfer agent 310 - 310 Total expenses $ 3,413 $ (3,000 ) $ 413 Net loss $ (3,413 ) $ 3,000 $ (413 ) Net loss per common share - basic and diluted (0.00 ) 0.00 (0.00 ) Weighted average number of shares of common stock outstanding - basic and diluted 63,750,000 63,750,000 63,750,000 (The accompanying notes are an integral part of these condensed unaudited financial statements)

Subsequent Event

Subsequent Event	3 Months Ended
	Sep. 30, 2022
Subsequent Event
Subsequent Event	7. Subsequent Event The Company evaluated all events or transactions that occurred after September 30, 2022, through the date of filing this report. The Company determined that it does not have any subsequent event requiring recording or disclosure in the financial statements for the period ended September 30, 2022 .

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2022
Significant Accounting Policies
Basis of Presentation	The accompanying 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, 2022. In the opinion of management, the accompanying 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.
Use of Estimates and Judgments	The preparation of these 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.
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.

Restatement (Tables)

Restatement (Tables)	3 Months Ended
	Sep. 30, 2022
Restatement
Schedule of restated balance sheet	HOOPS SCOUTING USA Restated Balance Sheets September 30, 2022 September 30, 2022 September 30, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Assets Current assets Cash $ 222 $ - $ 222 Total current assets 222 - 222 Total assets $ 222 $ - $ 222 Liabilities and stockholders’ deficit Current liabilities Accounts payable and accrued liabilities $ 4,146 $ (3,000 ) $ 1,146 Due to related party (Note 3) 65,581 - 65,581 Total current liabilities 69,727 (3,000 ) 66,727 Non-current liabilities Loans payable (Note 5) 16,000 - 16,000 Total liabilities $ 85,727 $ (3,000 ) $ 82,727 Stockholders’ deficit Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022 $ 6,375 $ - $ 6,375 Additional paid-in capital 28,675 - 28,675 Accumulated deficit (120,555 ) 3,000 (117,555 ) Total stockholders’ deficit $ (85,505 ) $ 3,000 $ (82,505 ) Total liabilities and stockholders’ deficit $ 222 $ - $ 222 (The accompanying notes are an integral part of these condensed unaudited financial statements)
Schedule of restated statement of operations	For the three months ended September 30, 2022 For the three months ended September 30, 2022 For the three months ended September 30, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Expenses General and administrative $ 103 $ - $ 103 Professional fees 3,000 (3,000 ) - Transfer agent 310 - 310 Total expenses $ 3,413 $ (3,000 ) $ 413 Net loss $ (3,413 ) $ 3,000 $ (413 ) Net loss per common share - basic and diluted (0.00 ) 0.00 (0.00 ) Weighted average number of shares of common stock outstanding - basic and diluted 63,750,000 63,750,000 63,750,000 (The accompanying notes are an integral part of these condensed unaudited financial statements)

Nature of Operations and Cont_2

Nature of Operations and Continuance of Business (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Nature of Operations and Continuance of Business
Net loss	$ (413)	$ (16,830)
Working capital deficit	(66,505)
Accumulated Deficit	$ (117,555)		$ (117,142)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Proceeds from related parties	$ 4,000	$ 0
Due to related party	65,581		$ 61,581
President and Director [Member]
Due to related party	$ 65,581		$ 61,581
Debt Instrument, Description	unsecured, non-interest bearing, and due on demand

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)			3 Months Ended		12 Months Ended
	Jun. 09, 2023	Oct. 15, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2022
Common stock shares issued			63,750,000		63,750,000	63,750,000
Forward stock split			850,000		850,000
Common stock shares outstanding			63,750,000		63,750,000	63,750,000
Common Stocks [Member]
Proceeds relating to share subscriptions for the issuance of common shares				$ 3,000	$ 32
Common stock per share		$ 0.10		$ 0.10
Common stock shares issued during period		26,250,000
Forward stock split	75:1	350,000
Proceeds from share subscriptions received		$ 35,000			$ 32,000

Loans Payable (Details Narrativ

Loans Payable (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022
Loans payable (Note 5)	$ 16,000	$ 16,000
Non Related Parties [Member] | Loans Payable [Member]
Loans payable (Note 5)	$ 16,000	$ 16,000
Debt Instrument, Description	The amounts owing are unsecured, non-interest bearing, and due on or before December 31, 2022
Debt Instrument, Maturity Date	Dec. 31, 2022

Restatement (Details)

Restatement (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021
Cash	$ 222	$ 392	$ 10,586
Total current assets	222	392
Total assets	222	392
Accounts payable and accrued liabilities	(1,146)	(4,903)
Accounts payable and accrued liabilities	1,146	4,903
Due to related party (Note 3)	65,581	61,581
Total current liabilities	(66,727)	(66,484)
Loans Payable (Note 5)	16,000	16,000
Total liabilities	(82,727)	(82,484)
Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022	6,375	6,375
Additional paid-in capital	28,675	28,675
Accumulated deficit	(117,555)	(117,142)
Total stockholders' deficit	(82,505)	(82,092)	$ (46,479)	$ (32,649)
Total liabilities and stockholders' deficit	222	$ 392
As Previously Reported [Member]
Cash	222
Total current assets	222
Total assets	222
Accounts payable and accrued liabilities	(4,146)
Accounts payable and accrued liabilities	4,146
Due to related party (Note 3)	65,581
Total current liabilities	(69,727)
Loans Payable (Note 5)	16,000
Total liabilities	(85,727)
Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022	6,375
Additional paid-in capital	28,675
Accumulated deficit	(120,555)
Total stockholders' deficit	(85,505)
Total liabilities and stockholders' deficit	222
Restatement Adjustments (Member)
Cash	0
Total current assets	0
Total assets	0
Accounts payable and accrued liabilities	(3,000)
Accounts payable and accrued liabilities	3,000
Due to related party (Note 3)	0
Total current liabilities	(3,000)
Loans Payable (Note 5)	0
Total liabilities	(3,000)
Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022	0
Additional paid-in capital	0
Accumulated deficit	3,000
Total stockholders' deficit	3,000
Total liabilities and stockholders' deficit	0
As Restated [Member]
Cash	222
Total current assets	222
Total assets	222
Accounts payable and accrued liabilities	(1,146)
Accounts payable and accrued liabilities	1,146
Due to related party (Note 3)	65,581
Total current liabilities	(66,727)
Loans Payable (Note 5)	16,000
Total liabilities	(82,727)
Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of September 30, 2022 and June 30, 2022	6,375
Additional paid-in capital	28,675
Accumulated deficit	(117,555)
Total stockholders' deficit	(82,505)
Total liabilities and stockholders' deficit	$ 222

Restatement (Details 1)

Restatement (Details 1) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
General and administrative	$ 103	$ 565
Professional fees	0	(15,450)
Transfer agent	310	815
Total expenses	413	16,830
Net loss	$ (413)	$ (16,830)
Net loss per common share - basic and diluted	$ 0	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	63,750,000	37,500,000
Professional fees	$ 0	$ 15,450
As Previously Reported [Member]
General and administrative	103
Professional fees	(3,000)
Transfer agent	310
Total expenses	3,413
Net loss	$ (3,413)
Net loss per common share - basic and diluted	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	63,750,000
Professional fees	$ 3,000
Restatement Adjustments (Member)
General and administrative	0
Professional fees	(3,000)
Transfer agent	0
Total expenses	(3,000)
Net loss	$ 3,000
Net loss per common share - basic and diluted	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	63,750,000
Professional fees	$ 3,000
As Restated [Member]
General and administrative	103
Professional fees	0
Transfer agent	310
Total expenses	413
Net loss	$ (413)
Net loss per common share - basic and diluted	$ 0
Weighted average number of shares of common stock outstanding - basic and diluted	63,750,000
Professional fees	$ 0