Hoops Scouting USA has reported its financial results for the fiscal year ending June 30, 2025, revealing a net loss of $20,118, a decrease from the previous year's loss of $50,878. The company's total expenses for the year were $20,118, significantly lower than the $50,878 reported in the prior year. The accumulated deficit has increased to $311,837, up from $291,719 in the previous fiscal year, indicating ongoing financial challenges. The company has not generated any revenue since its inception, which raises concerns about its ability to continue as a going concern.
In terms of assets, Hoops Scouting USA reported total assets of $76,889 as of June 30, 2025, a slight decrease from $76,945 in the previous year. Current liabilities increased to $237,676 from $217,614, primarily due to an increase in amounts owed to related parties, which rose to $234,944 from $205,947. The company’s working capital deficit stands at $160,787, further complicating its financial position. The balance sheet reflects a total stockholders' deficit of $176,787, compared to $156,669 in the prior year.
Operationally, the company has made strategic moves, including the acquisition of the Grit Mobile Application for $100,000 in February 2023. However, this intangible asset was fully impaired by June 30, 2023, indicating that it no longer holds value. The company has plans to promote its website and develop a mobile application to enhance its service offerings. Additionally, management is exploring potential partnerships with existing scouting services and college sports sponsorship consulting firms to bolster its market presence.
The company’s employee headcount remains stable, with no significant changes reported. As of June 30, 2025, Hoops Scouting USA continues to rely heavily on financial support from its president, who has contributed substantial funds towards operating expenses. The company has indicated that it is actively seeking additional equity financing to support its operations and achieve profitability.
Looking ahead, Hoops Scouting USA acknowledges the substantial doubt regarding its ability to continue as a going concern, contingent upon generating profitable operations and securing necessary funding. The management's plans to enhance its digital presence and explore partnerships are critical to its future viability. The company has not reported any significant events after the reporting period, aside from receiving $27,240 from its president for operating expenses, which underscores its ongoing reliance on related party support.
About HOOPS SCOUTING USA
Hoops Scouting USA is a platform providing basketball scouting services for high school and college players, enabling athletes to showcase game footage, stats, and schedules. It targets youth to collegiate athletes and coaches, facilitating recruitment and talent evaluation. The company also develops a training app, Grit App, offering personalized drills and performance programs. Its business model relies on memberships, sponsorships, and digital training products.
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