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SHOREPOWER TECHNOLOGIES INC.

2018 Q2 Form 10-Q Financial Statement

#000114420418045261 Filed on August 17, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2018 Q1 2017 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $20.00K $10.00K $10.00K
YoY Change 100.0% 0.0% -50.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $20.00K $10.00K $10.00K
YoY Change 100.0% 0.0% -50.0%
Operating Profit -$18.48K -$6.243K
YoY Change 195.93% -72.61%
Interest Expense $175.00 $0.00 $297.00
YoY Change -41.08% -4.19%
% of Operating Profit
Other Income/Expense, Net -$175.00 $0.00 -$297.00
YoY Change -41.08% -4.19%
Pretax Income -$20.00K -$10.00K -$10.00K
YoY Change 100.0% 0.0% -50.0%
Income Tax
% Of Pretax Income
Net Earnings -$18.65K -$10.00K -$6.540K
YoY Change 185.17% 0.0% -71.69%
Net Earnings / Revenue
Basic Earnings Per Share -$0.01 $0.00
Diluted Earnings Per Share -$0.01 -$2.849K $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 2018 Q2 2018 Q1 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $0.00 $0.00
YoY Change
Cash & Equivalents $0.00 $330.00 $10.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $0.00 $330.00 $0.00
YoY Change 17.86%
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 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $0.00 $330.00 $0.00
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $0.00 $330.00 $0.00
YoY Change 17.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $220.0K $210.0K $200.0K
YoY Change 10.0% 10.53% 11.11%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $2.100M $2.090M $2.060M
YoY Change 1.94% 1.46% 1.48%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.325M $2.307M $2.260M
YoY Change 2.9% 2.33% 1.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.325M $2.307M $2.260M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.325M $2.307M $2.260M
YoY Change 2.9% 2.33% 1.8%
SHAREHOLDERS EQUITY
Retained Earnings -$5.009M -$4.991M
YoY Change 1.06%
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 39.98K shares
Shareholders Equity -$2.325M -$2.307M -$2.260M
YoY Change
Total Liabilities & Shareholders Equity $0.00 $330.00 $0.00
YoY Change 17.86%

Cashflow Statement

Concept 2018 Q2 2018 Q1 2017 Q2
OPERATING ACTIVITIES
Net Income -$18.65K -$10.00K -$6.540K
YoY Change 185.17% 0.0% -71.69%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$10.23K -$10.00K -$3.270K
YoY Change 212.84% -81.93%
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 $9.900K 10.00K $3.000K
YoY Change 230.0% -83.19%
NET CHANGE
Cash From Operating Activities -$10.23K -10.00K -$3.270K
Cash From Investing Activities 0.000
Cash From Financing Activities $9.900K 10.00K $3.000K
Net Change In Cash -$330.00 0.000 -$270.00
YoY Change 22.22% 8.87%
FREE CASH FLOW
Cash From Operating Activities -$10.23K -$10.00K -$3.270K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q2 us-gaap Use Of Estimates
UseOfEstimates
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CY2018Q2 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
1984-05-29
CY2018Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
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CY2018Q1 us-gaap Accrued Professional Fees Current
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CY2018Q2 us-gaap Common Stock Par Or Stated Value Per Share
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CY2018Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2018Q2 us-gaap Revenues
Revenues
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CY2017Q2 us-gaap Revenues
Revenues
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CY2018Q2 us-gaap Common Stock Shares Authorized
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CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q2 us-gaap Net Income Loss
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17505 USD
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14217 USD
CY2018Q2 usbl Working Capital Deficit
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-2325442 USD
CY2018Q1 us-gaap Deferred Tax Assets Valuation Allowance
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CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2018Q2 us-gaap Accrued Rent Current
AccruedRentCurrent
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CY2018Q1 us-gaap Accrued Rent Current
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CY2018Q2 us-gaap Common Stock Shares Issued
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CY2018Q1 us-gaap Common Stock Shares Issued
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CY2018Q2 dei Document Type
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10-Q
CY2018Q2 dei Amendment Flag
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CY2018Q2 us-gaap Professional Fees
ProfessionalFees
7225 USD
CY2017Q2 us-gaap Professional Fees
ProfessionalFees
1050 USD
CY2018Q2 us-gaap Assets Current
AssetsCurrent
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CY2018Q1 us-gaap Assets Current
AssetsCurrent
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CY2018Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3000000 USD
CY2018 usbl Operating Losses Carryforward Expiration Date
OperatingLossesCarryforwardExpirationDate
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CY2018Q2 us-gaap Assets
Assets
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CY2018Q1 us-gaap Assets
Assets
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CY2018Q2 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2018Q1 us-gaap Interest Payable Current
InterestPayableCurrent
13562 USD
CY2018Q2 us-gaap Other General Expense
OtherGeneralExpense
7881 USD
CY2017Q2 us-gaap Other General Expense
OtherGeneralExpense
1756 USD
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8140 USD
CY2017Q2 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3561 USD
CY2018Q2 dei Document Period End Date
DocumentPeriodEndDate
2018-05-31
CY2018Q2 dei Document Fiscal Year Focus
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CY2018Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
280 USD
CY2017Q2 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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PreferredStockSharesAuthorized
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CY2018Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2017Q2 us-gaap Lease And Rental Expense
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CY2018Q2 us-gaap Deposits
Deposits
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CY2018Q1 us-gaap Deposits
Deposits
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CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2018Q2 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
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CY2018Q2 us-gaap Preferred Stock Shares Issued
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CY2018Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2018Q2 dei Document Fiscal Period Focus
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CY2018Q2 us-gaap Bank Overdrafts
BankOverdrafts
3920 USD
CY2018Q1 us-gaap Bank Overdrafts
BankOverdrafts
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CY2018Q2 dei Entity Registrant Name
EntityRegistrantName
UNITED STATES BASKETBALL LEAGUE INC
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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CY2018Q2 us-gaap Other Accrued Liabilities Current
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CY2018Q1 us-gaap Other Accrued Liabilities Current
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CY2018Q2 us-gaap Due To Related Parties Current And Noncurrent
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CY2018Q1 us-gaap Due To Related Parties Current And Noncurrent
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CY2018Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
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CY2018Q1 us-gaap Lines Of Credit Current
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CY2018Q2 us-gaap Costs And Expenses
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CY2017Q2 us-gaap Costs And Expenses
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CY2018Q1 us-gaap Treasury Stock Shares
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CY2018Q2 dei Entity Central Index Key
EntityCentralIndexKey
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CY2018Q2 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2018Q2 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
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CY2018Q1 us-gaap Liabilities Current
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CY2018Q2 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018Q2 dei Entity Filer Category
EntityFilerCategory
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CY2018Q2 dei Trading Symbol
TradingSymbol
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CY2018Q2 us-gaap Liabilities Noncurrent
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CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2018Q2 us-gaap Liabilities And Stockholders Equity
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CY2018Q1 us-gaap Liabilities And Stockholders Equity
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330 USD

Files In Submission

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0001144204-18-045261-index-headers.html Edgar Link pending
0001144204-18-045261-index.html Edgar Link pending
0001144204-18-045261.txt Edgar Link pending
0001144204-18-045261-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
tv501109_10q.htm Edgar Link pending
tv501109_ex31-1.htm Edgar Link pending
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tv501109_ex32.htm Edgar Link pending
usbl-20180531.xml Edgar Link completed
usbl-20180531.xsd Edgar Link pending
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usbl-20180531_def.xml Edgar Link unprocessable
usbl-20180531_lab.xml Edgar Link unprocessable
usbl-20180531_pre.xml Edgar Link unprocessable