$SPEV
SHOREPOWER TECHNOLOGIES INC.

2015 Q2 Form 10-Q Financial Statement

#000114420415042470 Filed on July 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 Q2
Revenue $0.00 $0.00 $11.95K
YoY Change -100.0% -100.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.00K $20.00K $10.00K
YoY Change 0.0% 0.0% -50.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $1.298K
YoY Change -100.0% -100.0% 0.0%
% of Gross Profit
Operating Expenses $10.00K $20.00K $20.00K
YoY Change -50.0% 0.0% -33.33%
Operating Profit -$6.789K -$8.112K
YoY Change -16.31% -59.47%
Interest Expense $330.00 $0.00 $4.414K
YoY Change -92.52% -22.83%
% of Operating Profit
Other Income/Expense, Net -$330.00 $0.00 -$4.414K
YoY Change -92.52% 26.8%
Pretax Income -$10.00K -$20.00K -$10.00K
YoY Change 0.0% 100.0% -50.0%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.119K -$20.00K -$12.53K
YoY Change -43.17% 100.0% -46.68%
Net Earnings / Revenue -104.86%
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 -$5.698K $0.00
COMMON SHARES
Basic Shares Outstanding 3.513M shares 3.513M shares 3.513M shares
Diluted Shares Outstanding 3.513M shares 3.513M shares

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $10.00K
YoY Change -100.0% -100.0% 0.0%
Cash & Equivalents $333.00 $614.00 $13.73K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00 $0.00
YoY Change
Inventory
Prepaid Expenses $0.00 $0.00
Receivables
Other Receivables
Total Short-Term Assets $333.00 $614.00 $10.00K
YoY Change -96.67% -95.73% 1.84%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $220.0K
YoY Change -100.0% -2.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets -$333.00 $0.00 $220.0K
YoY Change -100.15% -100.0% -2.28%
TOTAL ASSETS
Total Short-Term Assets $333.00 $614.00 $10.00K
Total Long-Term Assets -$333.00 $0.00 $220.0K
Total Assets $0.00 $614.00 $230.0K
YoY Change -100.0% -99.74% -2.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $130.0K $130.0K $170.0K
YoY Change -23.53% -27.78% -5.56%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.980M $1.970M $2.280M
YoY Change -13.16% -12.83% 6.05%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.120M $2.111M $2.460M
YoY Change -13.82% -13.83% 3.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.120M $2.111M $2.460M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.117M $2.111M $2.460M
YoY Change -13.93% -13.83% 3.66%
SHAREHOLDERS EQUITY
Retained Earnings -$4.801M -$4.794M
YoY Change -2.12%
Common Stock $35.53K $35.53K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.45K $42.45K
YoY Change 0.0%
Treasury Stock Shares 39.98K shares 39.98K shares
Shareholders Equity -$2.117M -$2.110M -$2.226M
YoY Change
Total Liabilities & Shareholders Equity $333.00 $614.00 $230.0K
YoY Change -99.86% -99.74% -2.11%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q2
OPERATING ACTIVITIES
Net Income -$7.119K -$20.00K -$12.53K
YoY Change -43.17% 100.0% -46.68%
Depreciation, Depletion And Amortization $0.00 $0.00 $1.298K
YoY Change -100.0% -100.0% 0.0%
Cash From Operating Activities -$10.00K -$10.00K -$11.67K
YoY Change -14.3% -50.0% -62.9%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K 10.00K $14.42K
YoY Change -30.64% -50.0% -51.34%
NET CHANGE
Cash From Operating Activities -10.00K -10.00K -$11.67K
Cash From Investing Activities 0.000
Cash From Financing Activities 10.00K 10.00K $14.42K
Net Change In Cash 0.000 0.000 $2.749K
YoY Change -100.0% -250.8%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$10.00K -$11.67K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6789 USD
CY2014Q2 us-gaap Interest Expense
InterestExpense
4414 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
330 USD
CY2015Q2 us-gaap Use Of Estimates
UseOfEstimates
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CY2015Q2 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1984-05-29
CY2015Q2 usbl Working Capital Deficit
WorkingCapitalDeficit
2117069 USD
CY2014Q2 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P30Y
CY2015Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
945000 USD
CY2015Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2700000 USD
CY2015 usbl Operating Losses Carryforward Expiration Date
OperatingLossesCarryforwardExpirationDate
2019 to 2034
CY2014Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2015Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
614 USD
CY2015Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
333 USD
CY2015Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
0 USD
CY2015Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
0 USD
CY2015Q2 us-gaap Assets Current
AssetsCurrent
333 USD
CY2015Q1 us-gaap Assets
Assets
614 USD
CY2015Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
133853 USD
CY2015Q1 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
7361 USD
CY2015Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
1969350 USD
CY2015Q1 us-gaap Liabilities Current
LiabilitiesCurrent
2110564 USD
CY2015Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
0 USD
CY2015Q2 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
0 USD
CY2015Q2 us-gaap Liabilities
Liabilities
2117402 USD
CY2015Q2 us-gaap Common Stock Value
CommonStockValue
35525 USD
CY2015Q2 us-gaap Preferred Stock Value
PreferredStockValue
11057 USD
CY2015Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2679855 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4801052 USD
CY2015Q2 us-gaap Treasury Stock Value
TreasuryStockValue
42454 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
-2117069 USD
CY2015Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
333 USD
CY2015Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
-420000 USD
CY2015Q2 us-gaap Cost Of Real Estate Sales
CostOfRealEstateSales
-7403 USD
CY2015Q2 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
412597 USD
CY2015Q2 us-gaap Inventory Real Estate
InventoryRealEstate
-219666 USD
CY2015Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
192931 USD
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
57334 USD
CY2015Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1969350 USD
CY2015Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1981572 USD
CY2015Q1 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
0 USD
CY2015Q2 us-gaap Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
0 USD
CY2015Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.02 pure
CY2014Q2 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
11946 USD
CY2015Q2 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
0 USD
CY2014Q2 us-gaap Revenues
Revenues
11946 USD
CY2015Q2 us-gaap Revenues
Revenues
0 USD
CY2014Q2 us-gaap Professional Fees
ProfessionalFees
8454 USD
CY2015Q2 us-gaap Professional Fees
ProfessionalFees
0 USD
CY2014Q2 us-gaap Other General Expense
OtherGeneralExpense
1294 USD
CY2015Q2 us-gaap Other General Expense
OtherGeneralExpense
1643 USD
CY2014Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3000 USD
CY2015Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2014Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
314 USD
CY2015Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
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CY2014Q2 us-gaap Depreciation
Depreciation
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CY2015Q2 us-gaap Depreciation
Depreciation
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CY2014Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
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CY2015Q2 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
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CY2014Q2 us-gaap Costs And Expenses
CostsAndExpenses
20058 USD
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
6789 USD
CY2014Q2 us-gaap Operating Income Loss
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CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-12526 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-7119 USD
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3512527 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3512527 shares
CY2014Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-2557 USD
CY2015Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
0 USD
CY2014Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-2536 USD
CY2015Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2014Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2015Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2014Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-11669 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-12503 USD
CY2014Q2 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
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CY2015Q2 us-gaap Proceeds From Repayments Of Related Party Debt
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CY2014Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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14418 USD
CY2015Q2 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2014Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
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2749 USD
CY2015Q2 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-281 USD
CY2014Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10978 USD
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13727 USD
CY2014Q2 us-gaap Interest Paid
InterestPaid
3047 USD
CY2015Q2 us-gaap Interest Paid
InterestPaid
330 USD
CY2014Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2015Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2015Q2 dei Document Type
DocumentType
10-Q
CY2015Q2 dei Amendment Flag
AmendmentFlag
false
CY2015Q2 dei Document Period End Date
DocumentPeriodEndDate
2015-05-31
CY2015Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2016
CY2015Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2015Q2 dei Entity Registrant Name
EntityRegistrantName
UNITED STATES BASKETBALL LEAGUE INC
CY2015Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000764630
CY2015Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2015Q2 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2015Q2 dei Trading Symbol
TradingSymbol
USBL
CY2015Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3512527 shares

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0001144204-15-042470-xbrl.zip Edgar Link pending
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usbl-20150531_pre.xml Edgar Link unprocessable
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