HOOPS SCOUTING USA (HSCT) reported that it could not timely file its Form 10-K for the period ended June 30, 2026, because it was unable to complete its financial statements without unreasonable effort or expense.
Hoops Scouting USA reported a much larger net loss and mounting financial strain in its quarterly report for the period ended March 31, 2026. The company recorded a net loss of $70,186 for the nine months, compared with $18,796 in the prior-year period, and total liabilities of $313,650 against total assets of just $66,677.
As of March 31, 2026, Hoops Scouting USA had a working capital deficit of $230,973, an accumulated deficit of $382,023, and a cash balance of only $5,563. Management explicitly states that these conditions raise substantial doubt about the company’s ability to continue as a going concern. Operations are being funded largely by related-party support, with $275,355 owed to the President and Director. Management also concluded that disclosure controls and procedures were not effective as of March 31, 2026.