Quarterly ResultMay 13, 2026, 08:17 AM
HOOPS SCOUTING USA Reports Ineffective Controls; Going Concern Doubt
AI Summary
HOOPS SCOUTING USA reported a working capital deficit of $230,973 and an accumulated deficit of $382,023 as of March 31, 2026, with no revenues generated to date. Management concluded that disclosure controls and procedures were not effective. These factors raise substantial doubt about the company's ability to continue as a going concern, dependent on continued financial support and future profitable operations.
Key Highlights
- Disclosure controls and procedures were deemed not effective as of March 31, 2026.
- Substantial doubt exists regarding the company's ability to continue as a going concern.
- Working capital deficit increased to $230,973 as of March 31, 2026, from $160,787.
- Accumulated deficit reached $382,023.
- Cash balance was $5,563 as of March 31, 2026.
- Operating expenditures for the nine months ended March 31, 2026, increased to $74,431 from $18,796 YoY.
- The company has generated no revenues to date.