$SPEV
SHOREPOWER TECHNOLOGIES INC.

2017 Q3 Form 10-Q Financial Statement

#000114420418011570 Filed on February 28, 2018

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.00K $10.00K
YoY Change 0.0% -66.67%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $10.00K $20.00K
YoY Change -50.0% -33.33%
Operating Profit -$9.546K -$15.27K
YoY Change -37.49% -55.89%
Interest Expense $166.00 $330.00
YoY Change -49.7% -62.54%
% of Operating Profit
Other Income/Expense, Net -$166.00 -$330.00
YoY Change -49.7% -62.54%
Pretax Income -$9.712K -$15.60K
YoY Change -37.75% -56.05%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.712K -$15.60K
YoY Change -37.75% -65.25%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 3.513M shares 3.513M shares
Diluted Shares Outstanding 3.513M shares 3.513M shares

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00
YoY Change
Cash & Equivalents $949.00 $289.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $0.00 $289.00
YoY Change -100.0% 248.19%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $0.00 $289.00
Total Long-Term Assets $0.00 $0.00
Total Assets $0.00 $289.00
YoY Change -100.0% 248.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $180.0K
YoY Change 11.11% 12.5%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.060M $2.040M
YoY Change 0.98% 2.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.270M $2.232M
YoY Change 1.69% 3.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.270M $2.232M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.270M $2.232M
YoY Change 1.69% 3.24%
SHAREHOLDERS EQUITY
Retained Earnings -$4.916M
YoY Change 1.44%
Common Stock $35.53K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $42.45K
YoY Change 0.0%
Treasury Stock Shares 39.98K shares 39.98K shares
Shareholders Equity -$2.270M -$2.232M
YoY Change
Total Liabilities & Shareholders Equity $0.00 $289.00
YoY Change -100.0% 248.19%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$9.712K -$15.60K
YoY Change -37.75% -65.25%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities -$10.00K -$10.00K
YoY Change 0.0% -50.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change 0.0% -50.0%
NET CHANGE
Cash From Operating Activities -10.00K -10.00K
Cash From Investing Activities
Cash From Financing Activities 10.00K 10.00K
Net Change In Cash 0.000 0.000
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$10.00K -$10.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Revenues
Revenues
0 USD
CY2017Q3 us-gaap Professional Fees
ProfessionalFees
2500 USD
CY2016Q3 us-gaap Professional Fees
ProfessionalFees
4521 USD
CY2017Q3 us-gaap Other General Expense
OtherGeneralExpense
3962 USD
CY2016Q3 us-gaap Other General Expense
OtherGeneralExpense
6968 USD
CY2017Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3000 USD
CY2016Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3000 USD
CY2017Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
96 USD
CY2016Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
821 USD
CY2017Q3 us-gaap Costs And Expenses
CostsAndExpenses
9546 USD
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
15271 USD
CY2017Q3 us-gaap Interest Expense
InterestExpense
166 USD
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-166 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-9546 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-15271 USD
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3512527 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
3512527 shares
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-9712 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-15601 USD
CY2017Q3 us-gaap Revenues
Revenues
0 USD
CY2016Q3 us-gaap Revenues
Revenues
0 USD
CY2017Q3 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
-12 USD
CY2016Q3 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
-39 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10523 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
9794 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1437 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
866 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7166 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-28043 USD
us-gaap Interest Paid
InterestPaid
463 USD
us-gaap Interest Paid
InterestPaid
330 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
4290 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-127 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
669 USD
CY2016Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
416 USD
CY2016Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
289 USD
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1984-05-29
CY2017Q3 usbl Working Capital Deficit
WorkingCapitalDeficit
2270549 USD
CY2017Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1015000 USD
CY2017Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2900000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2017Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
55630 USD
CY2017Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
54580 USD
CY2017Q3 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
11986 USD
CY2017Q1 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
8143 USD
CY2017Q3 us-gaap Accrued Rent Current
AccruedRentCurrent
114000 USD
CY2017Q1 us-gaap Accrued Rent Current
AccruedRentCurrent
108000 USD
CY2017Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3664 USD
CY2017Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
3664 USD
CY2017Q3 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2016Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
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: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.5in" align="justify"><b><i><font style="FONT-SIZE: 10pt"> Estimates</font></i></b> <font style="FONT-SIZE: 10pt">&#150; 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 reported period. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
1105679 shares
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
39975 shares
CY2017Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
39975 shares
CY2016Q3 us-gaap Depreciation
Depreciation
0 USD
us-gaap Depreciation
Depreciation
0 USD
us-gaap Depreciation
Depreciation
0 USD
CY2017Q3 us-gaap Depreciation
Depreciation
0 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2017Q1 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2017Q3 us-gaap Deposits
Deposits
2725 USD
CY2017Q1 us-gaap Deposits
Deposits
2725 USD
CY2017Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
748 USD
CY2017Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1118 USD
CY2017Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2063879 USD
CY2017Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
2056044 USD
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.02 pure
CY2017Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2017Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
30000000 shares
CY2017Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3552502 shares
CY2017Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3552502 shares
CY2017Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3552502 shares
CY2017Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
3552502 shares
CY2017Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2017Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1105679 shares
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
usbl Operating Losses Carryforward Expiration Date
OperatingLossesCarryforwardExpirationDate
2019 to 2037
CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1105679 shares
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9712 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-15601 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-16252 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-38703 USD

Files In Submission

Name View Source Status
0001144204-18-011570-index-headers.html Edgar Link pending
0001144204-18-011570-index.html Edgar Link pending
0001144204-18-011570.txt Edgar Link pending
0001144204-18-011570-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tv487105_10q.htm Edgar Link pending
tv487105_ex31-1.htm Edgar Link pending
tv487105_ex31-2.htm Edgar Link pending
tv487105_ex32.htm Edgar Link pending
usbl-20170831.xml Edgar Link completed
usbl-20170831.xsd Edgar Link pending
usbl-20170831_cal.xml Edgar Link unprocessable
usbl-20170831_def.xml Edgar Link unprocessable
usbl-20170831_lab.xml Edgar Link unprocessable
usbl-20170831_pre.xml Edgar Link unprocessable