Hoops Scouting USA (HSCT) 10-Q 31 Aug 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2020	Aug. 25, 2021
Details
Registrant CIK	0001721056
Fiscal Year End	--06-30
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	333-221200
Entity Registrant Name	HOOPS SCOUTING USA
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, and telephone number, including area code, of registrant’s principal executive offices
Phone Fax Number Description	Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices
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 Common Stock, Shares Outstanding		500,000
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2020	Jun. 30, 2020
Current assets
Cash	$ 27,543	$ 148
Total assets	27,543	148
Current liabilities
Accounts payable and accrued liabilities	6,525	5,705
Due to related party (Note 3)	27,150	22,500
Total current liabilities	33,675	28,205
Non-current liabilities
Loans payable (Note 5)	16,000	0
Total liabilities	49,675	28,205
Stockholders' deficit
Common stock Authorized: 1,000,000 common shares, $0.0001 par value 500,000 shares issued and outstanding	50	50
Share subscriptions received (Note 4)	12,000	0
Deficit	(34,182)	(28,107)
Total stockholders' deficit	(22,132)	(28,057)
Total liabilities and stockholders' deficit	$ 27,543	$ 148

Condensed Balance Sheets - Pare

Condensed Balance Sheets - Parenthetical - $ / shares	Sep. 30, 2020	Jun. 30, 2020
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 - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Expenses
General and administrative	$ 5,255	$ 28
Transfer agent	820	0
Total expenses	6,075	28
Net loss and comprehensive loss for the period	$ (6,075)	$ (28)
Loss per share, basic and diluted	$ (0.01)	$ 0
Weighted average shares outstanding	500,000	500,000

Condensed Statements of Stockho

Condensed Statements of Stockholders' Deficit - USD ($)	Common Stock	Share Subscriptions Received	Retained Earnings	Total
Equity Balance at Jun. 30, 2019	$ 50	$ 0	$ (19,131)	$ (19,081)
Equity Balance, Shares at Jun. 30, 2019	500,000
Net loss and comprehensive loss for the period	$ 0	0	(28)	(28)
Equity Balance, Shares at Sep. 30, 2019	500,000
Equity Balance at Sep. 30, 2019	$ 50	0	(19,159)	(19,109)
Equity Balance at Jun. 30, 2020	$ 50	0	(28,107)	$ (28,057)
Equity Balance, Shares at Jun. 30, 2020	500,000			500,000
Share subscriptions received	$ 0	12,000	0	$ 12,000
Net loss and comprehensive loss for the period	$ 0	0	(6,075)	$ (6,075)
Equity Balance, Shares at Sep. 30, 2020	500,000			500,000
Equity Balance at Sep. 30, 2020	$ 50	$ 12,000	$ (34,182)	$ (22,132)

Condensed statements of cash fl

Condensed statements of cash flows - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities
Net loss and comprehensive loss for the period	$ (6,075)	$ (28)
Adjustments to reconcile net loss to net cash used in operating activities:
Accounts payable and accrued liabilities	820	0
Due to related parties	4,650	0
Net cash used in operating activities	(605)	(28)
Financing activities
Proceeds from loans payable	16,000	0
Proceeds from share subscriptions received	12,000	0
Net cash provided by financing activities	28,000	0
Change in cash	27,395	(28)
Cash, beginning of period	148	302
Cash, end of period	27,543	274
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	3 Months Ended
	Sep. 30, 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 September 30, 2020, the Company has not generated any revenues, has a working capital deficit of $22,132, and an accumulated deficit of $34,182. 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	3 Months Ended
	Sep. 30, 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, 2020. 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 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	3 Months Ended
	Sep. 30, 2020
Notes
3. Related Party Transactions	3. Related Party Transactions

4. Common Stock

4. Common Stock	3 Months Ended
	Sep. 30, 2020
Notes
4. Common Stock	4. Common Stock During the period ended September 30, 2020, the Company received proceeds of $12,000 relating to share subscriptions for the issuance of common shares at $0.10 per share. As of the date of this filing, the common shares have not been issued.

5. Loans Payable

5. Loans Payable	3 Months Ended
	Sep. 30, 2020
Notes
5. Loans Payable	5. Loans Payable As at September 30, 2020, the Company owed $16,000 (June 30, 2020 - $nil) to non-related parties for loans payable. The amounts owing are unsecured, non-interest bearing, and due on or before December 31, 2022.

6. Subsequent Event

6. Subsequent Event	3 Months Ended
	Sep. 30, 2020
Notes
6. Subsequent Event	6. Subsequent Event Subsequent to September 30, 2020, the Company received $21,000 of share subscriptions for the issuance of common shares at $0.10 per share. As of the date of this filing, the common shares have not been issued.

2. Significant Accounting Pol_2

2. Significant Accounting Policies: (a) Basis of Presentation (Policies)	3 Months Ended
	Sep. 30, 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, 2020. 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)	3 Months Ended
	Sep. 30, 2020
Policies
(b) Use of Estimates and Judgments	(b) 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 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)	3 Months Ended
	Sep. 30, 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)	Sep. 30, 2020USD ($)
Details
Working capital deficit	$ 22,132
Accumulated deficit	$ 34,182

3. Related Party Transactions (

3. Related Party Transactions (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Due to related party (Note 3)	$ 27,150	$ 22,500
President and Director
Due to related party (Note 3)	$ 27,150	$ 22,500
Debt Instrument, Description	unsecured, non-interest bearing, and due on demand	unsecured, non-interest bearing, and due on demand

4. Common Stock (Details)

4. Common Stock (Details) - USD ($)	3 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Proceeds from share subscriptions received	$ 12,000	$ 0
Common Stock
Proceeds from share subscriptions received	$ 12,000
Shares Issued, Price Per Share	$ 0.10

5. Loans Payable (Details)

5. Loans Payable (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020
Loans payable (Note 5)	$ 16,000	$ 0
Loans Payable | Non-Related Parties
Loans payable (Note 5)	$ 16,000	$ 0
Debt Instrument, Description	The amounts owing are unsecured, non-interest bearing, and due on or before December 31, 2022.	The amounts owing are unsecured, non-interest bearing, and due on or before December 31, 2022.
Debt Instrument, Maturity Date	Dec. 31, 2022	Dec. 31, 2022

6. Subsequent Event (Details)

6. Subsequent Event (Details) - USD ($)	3 Months Ended		11 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Aug. 27, 2021
Proceeds from share subscriptions received	$ 12,000	$ 0
Common Stock
Proceeds from share subscriptions received	$ 12,000
Shares Issued, Price Per Share	$ 0.10
Subsequent Event | Common Stock
Proceeds from share subscriptions received			$ 21,000
Shares Issued, Price Per Share			$ 0.10