Restatement | 6. Restatement The following are previously recorded and restated balances as of December 31, 2022. HOOPS SCOUTING USA Restated Balance Sheets (Unaudited) December 31, 2022 December 31, 2022 December 31, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Assets Current assets Cash $ 28 $ - $ 28 Total current assets 28 - 28 Total assets $ 28 $ - $ 28 Liability and stockholders’ deficit Current liabilities Accounts payable and accrued liabilities $ 6,503 $ (3,000 ) $ 3,503 Due to related party (Note 3) 73,381 - 73,381 Total current liabilities 79,884 (3,000 ) 76,884 Non-current liabilities Loans payable (Note 5) 16,000 - 16,000 Total liabilities $ 95,884 $ (3,000 ) $ 92,884 Stockholders’ deficit Common stock authorized: 10,000,000,000 common shares, $0.0001 par value 63,750,000 shares issued and outstanding as of December 31, 2022 and June 30, 2022 $ 6,375 $ - $ 6,375 Additional paid-in capital 28,675 - 28,675 Accumulated deficit (130,906 ) 3,000 (127,906 ) Total stockholders’ deficit $ (95,856 ) $ 3,000 $ (92,856 ) Total liabilities and stockholders’ deficit $ 28 $ - $ 28 For the three months ended December 31, 2022 For the three months ended December 31, 2022 For the three months ended December 31, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Expenses General and administrative $ 48 $ - $ 48 Professional fees 8,800 8,800 Transfer agent 1,503 - 1,503 Total expenses $ 10,351 $ - $ 10,351 Net loss $ (10,351 ) $ - $ (10,351 ) Net loss per common share - basic and diluted (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 For the six months ended December 31, 2022 For the six months ended December 31 2022 For the six months ended December 31, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Expenses General and administrative $ 151 $ - $ 151 Professional fees 11,800 (3,000 ) 8,800 Transfer agent 1,813 - 1,813 Total expenses $ 13,764 $ (3,000 ) $ 10,764 Net loss $ (13,764 ) $ 3,000 $ (10,764 ) 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 For the six months ended December 31, 2022 For the six months ended December 31, 2022 For the six months ended December 31, 2022 (As Previously Reported) (Restatement Adjustments) (As Restated) Cash Flows from Operating Activities: Net loss $ (13,764 ) $ 3,000 $ (10,764 ) Adjustments to reconcile net loss to net cash used in operating activities: Changes in operating assets and liabilities: Due to related party 7,800 7,800 Increase (Decrease) in accounts payable and accrued liabilities 1,600 (3,000 ) (1,400 ) Net cash used in operating activities $ (4,364 ) $ - $ (4,364 ) Cash Flows from Financing Activities: Proceeds from related parties 4,000 - 4,000 Proceeds from share subscriptions received - - - Net cash provided by financing activities $ 4,000 $ - $ 4,000 .. Net increase (decrease) in cash, cash equivalents and restricted cash (364 ) - (364 ) Cash, cash equivalents and restricted cash at beginning of the period 392 - 392 Cash, cash equivalents and restricted cash at end of the period $ 28 $ - $ 28 Supplemental Cash Flow Information: Cash paid for interest $ - $ - $ - Cash paid for income taxes $ - $ - $ - |