secwatch.observer — SEC 8-K summary
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Issuer:     HOOPS SCOUTING USA (HSCT)
CIK:        0001721056
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001477932-23-001149
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 5.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hoops Scouting USA acquires Grit Performance Athletics app for $100K in stock, exits shell company status
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- Acquired Grit Mobile Application and related assets for $100,000, paid with 500,000 restricted shares.
- Grit app has 3,500+ users and 757 premium subscribers; founded by professional coach Doug Plumb.
- Company was a shell company prior to transaction; now has an operating business in basketball training.
- Plans to franchise app to clubs and recruit NBA/NCAA influencers for revenue-sharing programs.
- No financial statements provided; references prior 10-K and 10-Q filings for financial information.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1721056/000147793223001149/0001477932-23-001149-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1721056/000147793223001149/hosu_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-23-001149

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer