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SHOREPOWER TECHNOLOGIES INC.

2016 Q1 Form 10-K Financial Statement

#000114420417057089 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2016 Q1 2016 2015 Q1
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.00K $68.13K $20.00K
YoY Change -50.0% -20.18% 0.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
% of Gross Profit
Operating Expenses $20.00K $81.43K $20.00K
YoY Change 0.0% -16.53% 0.0%
Operating Profit -$81.43K
YoY Change -2.61%
Interest Expense $0.00 $1.795K $0.00
YoY Change -68.43%
% of Operating Profit
Other Income/Expense, Net $10.00K -$1.795K $0.00
YoY Change -100.96%
Pretax Income -$20.00K -$83.23K -$20.00K
YoY Change 0.0% -180.31% 100.0%
Income Tax -$10.00K
% Of Pretax Income
Net Earnings -$10.00K -$83.23K -$20.00K
YoY Change -50.0% -180.31% 100.0%
Net Earnings / Revenue
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$2.849K -$0.02 -$5.698K
COMMON SHARES
Basic Shares Outstanding 3.513M shares 3.513M shares
Diluted Shares Outstanding 3.513M shares

Balance Sheet

Concept 2016 Q1 2016 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $420.00 $0.00
YoY Change -31.15% -100.0%
Cash & Equivalents $416.00 $614.00
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change
Inventory
Prepaid Expenses $0.00
Receivables
Other Receivables
Total Short-Term Assets $416.00 $420.00 $614.00
YoY Change -32.25% -31.15% -95.73%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $416.00 $420.00 $614.00
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $416.00 $420.00 $614.00
YoY Change -32.25% -31.15% -99.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $170.0K $170.0K $130.0K
YoY Change 30.77% 27.01% -27.78%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.020M $2.015M $1.970M
YoY Change 2.54% 2.32% -12.83%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.194M $2.194M $2.111M
YoY Change 3.93% 3.93% -13.83%
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 $2.194M $2.194M $2.111M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.194M $2.194M $2.111M
YoY Change 3.93% 3.93% -13.83%
SHAREHOLDERS EQUITY
Retained Earnings -$4.877M -$4.794M
YoY Change 1.74% -2.12%
Common Stock $35.53K $35.53K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.45K $42.45K
YoY Change 0.0% 0.0%
Treasury Stock Shares 39.98K shares 39.98K shares
Shareholders Equity -$2.193M -$2.193M -$2.110M
YoY Change
Total Liabilities & Shareholders Equity $416.00 $420.00 $614.00
YoY Change -32.25% -31.15% -99.74%

Cashflow Statement

Concept 2016 Q1 2016 2015 Q1
OPERATING ACTIVITIES
Net Income -$10.00K -$83.23K -$20.00K
YoY Change -50.0% -180.31% 100.0%
Depreciation, Depletion And Amortization $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Operating Activities -$10.00K -$45.98K -$10.00K
YoY Change 0.0% -64.9% -50.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
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 $45.78K 10.00K
YoY Change 0.0% -115.68% -50.0%
NET CHANGE
Cash From Operating Activities -10.00K -$45.98K -10.00K
Cash From Investing Activities 0.000 $0.00 0.000
Cash From Financing Activities 10.00K $45.78K 10.00K
Net Change In Cash 0.000 -$198.00 0.000
YoY Change -98.09%
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$45.98K -$10.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2016Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2015128 USD
CY2016Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
44985 USD
CY2016 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-198 USD
CY2015Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
614 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45778 USD
CY2017 us-gaap Professional Fees
ProfessionalFees
24845 USD
CY2016 us-gaap Professional Fees
ProfessionalFees
35211 USD
CY2017 us-gaap Other General Expense
OtherGeneralExpense
20530 USD
CY2016 us-gaap Other General Expense
OtherGeneralExpense
20914 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
12000 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
12000 USD
CY2017 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
2497 USD
CY2016 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
13309 USD
CY2017 us-gaap Costs And Expenses
CostsAndExpenses
59872 USD
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
81434 USD
CY2017 us-gaap Interest Expense
InterestExpense
1246 USD
CY2016 us-gaap Interest Expense
InterestExpense
1795 USD
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1246 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1795 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
-59872 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
-81434 USD
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3512527 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3512527 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3512527 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3512527 shares
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-61118 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-83229 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
-2109950 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
19293 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
38646 USD
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
773 USD
CY2016 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1393 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41052 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-45976 USD
CY2017 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
40916 USD
CY2016 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
45778 USD
CY2017 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-136 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40916 USD
CY2017 us-gaap Interest Paid
InterestPaid
1246 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
4290 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0 USD
CY2017Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2900000 USD
CY2017Q1 usbl Working Capital Deficit
WorkingCapitalDeficit
2254297 USD
CY2017 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.02 pure
CY2017Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2056044 USD
CY2016Q1 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
6101 USD
CY2016Q1 us-gaap Accrued Rent Current
AccruedRentCurrent
96000 USD
CY2016Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
7954 USD
CY2016Q1 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2016Q1 us-gaap Deposits
Deposits
2725 USD
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1172 USD
CY2017 dei Document Type
DocumentType
10-K
CY2017 dei Amendment Flag
AmendmentFlag
false
CY2017 dei Document Period End Date
DocumentPeriodEndDate
2017-02-28
CY2017 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2017 dei Entity Registrant Name
EntityRegistrantName
UNITED STATES BASKETBALL LEAGUE INC
CY2017 dei Entity Central Index Key
EntityCentralIndexKey
0000764630
CY2017 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2017 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
No
CY2017 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2016Q3 dei Entity Public Float
EntityPublicFloat
42000 USD
CY2017 dei Trading Symbol
TradingSymbol
USBL
CY2017Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
3512527 shares
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2016Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3552502 shares
CY2016Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3552502 shares
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1105679 shares
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1105679 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1105679 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1105679 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
39975 shares
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
39975 shares
CY2017 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
0 USD
CY2016 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
0 USD
CY2017 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1984-05-29
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 0.25in" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 0.25in" align="justify"><b><i>Estimates &#150;</i></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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1015000 USD
CY2017 usbl Operating Losses Carryforward Expiration Date
OperatingLossesCarryforwardExpirationDate
2019 to 2036
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares

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usbl-20170228_def.xml Edgar Link unprocessable
usbl-20170228_lab.xml Edgar Link unprocessable
usbl-20170228_pre.xml Edgar Link unprocessable