$SPEV
SHOREPOWER TECHNOLOGIES INC.

2024 Q4 Form 10-Q Financial Statement

#000149315224045717 Filed on November 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $15.44K
YoY Change 509.87%
Cost Of Revenue $28.90K
YoY Change 285.7%
Gross Profit -$14.88K
YoY Change 144.92%
Gross Profit Margin -96.39%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $95.20K
YoY Change -65.49%
Operating Profit -$110.1K
YoY Change -60.95%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $32.89K
YoY Change -208.06%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$77.20K
YoY Change -75.29%
Net Earnings / Revenue -499.9%
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 48.48M shares 48.48M shares
Diluted Shares Outstanding 48.48M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $0.00
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $34.56K
Prepaid Expenses $3.297K
Receivables $14.80K
Other Receivables
Total Short-Term Assets $72.03K
YoY Change -83.38%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000K
YoY Change 0.0%
Total Long-Term Assets $1.000K
YoY Change 0.0%
TOTAL ASSETS
Total Short-Term Assets $72.03K
Total Long-Term Assets $1.000K
Total Assets $73.03K
YoY Change -83.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $690.1K
YoY Change 71.07%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $690.1K
Total Long-Term Liabilities
Total Liabilities $1.610M
YoY Change 6.24%
SHAREHOLDERS EQUITY
Retained Earnings -$2.802M
YoY Change 19.42%
Common Stock $484.8K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.537M
YoY Change
Total Liabilities & Shareholders Equity $73.03K
YoY Change -83.19%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$77.20K
YoY Change -75.29%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity Registrant Name
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SHOREPOWER TECHNOLOGIES INC.
dei Entity Tax Identification Number
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dei Entity Address Address Line1
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5289 NE Elam Young Pkwy
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Suite 180
dei Security12b Title
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Common Stock
dei Trading Symbol
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SPEV
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us-gaap Use Of Estimates
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<p id="xdx_84D_eus-gaap--UseOfEstimates_zVBOzsnFkvc2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_86E_zRwrezaKttj">Use of Estimates</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP 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. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_849_eus-gaap--ConcentrationRiskCreditRisk_z8NOjX2jnFyl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline"><span id="xdx_86F_zwrykzPH9iD1">Concentration of Credit Risk</span></span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
0 usd
CY2024Q3 us-gaap Inventory Net
InventoryNet
34556 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
6876 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2801734 usd
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
48478678 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
48478678 shares

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