Hoops Scouting USA reported its financial results for the fiscal year ending June 30, 2026, revealing a revenue of $20,000, a significant increase from zero revenue in the previous fiscal year. However, the company also recorded a net loss of $71,064, which is a substantial rise from the net loss of $20,118 reported for the year ending June 30, 2025. The increase in losses is attributed to higher operational expenses, which totaled $79,538 compared to $20,118 in the prior year, driven primarily by increased professional fees and transfer agent costs.
The company's balance sheet as of June 30, 2026, shows total assets of $69,127, a decrease from $76,889 in the previous year. Current liabilities increased significantly to $316,978 from $253,676, leading to a working capital deficit of $247,851 and an accumulated deficit of $382,901. These financial conditions raise substantial doubt about the company's ability to continue as a going concern, as noted in the filing. The company has indicated that its future operations depend on generating profitable business and obtaining additional funding.
Operationally, Hoops Scouting USA has maintained its employee headcount at 101,250,000 shares issued and outstanding, unchanged from the previous year. The company has focused on enhancing its service offerings, including plans to promote its website and develop a mobile application to complement its existing services. Additionally, the company is exploring potential partnerships with other scouting services and college sports sponsorship consulting firms to expand its market reach.
The filing also highlights a legal settlement that contributed $4,229 to other income, which was recognized during the fiscal year. Despite the increase in revenue, the company’s financial health remains precarious, with management acknowledging the need for further financial support and operational improvements to achieve profitability. Looking ahead, Hoops Scouting USA aims to leverage its recent developments and partnerships to enhance its market position and financial stability, although the path to profitability remains uncertain given the current financial challenges.
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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