{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-009135","form_type":"8-K","ticker":"AETN","cik":"0000764630","company_name":"SHOREPOWER TECHNOLOGIES INC.","filed_at":"2023-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.047225+00:00","generated_at":"2026-06-17T15:55:28.620832+00:00","sec_items":["1.01","2.01","9.01","3.02","5.01","5.02","5.06"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"USBL completes reverse merger with Shorepower; assumes $1.4M debt; raises $660K PIPE","bullets":["Shorepower now owns 55% of USBL common stock; received 2M Series B preferred shares with 40 votes each.","Company assumed $1,400,000 of Shorepower debt; new CEO capped at $10K/month for first 9 months.","PIPE financing raised $660,000 via 11M units at $0.06 per unit with warrants exercisable at $0.25.","After close, USBL has 47,435,106 common shares, 2M Series B preferred, and 11M warrants outstanding.","Management expresses substantial doubt about going concern; plans to change name to Shorepower Technologies."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-009135","json":"https://secwatch.observer/filing/0001493152-23-009135.json","markdown":"https://secwatch.observer/filing/0001493152-23-009135.md","text":"https://secwatch.observer/filing/0001493152-23-009135.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/764630/000149315223009135/0001493152-23-009135-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/764630/000149315223009135/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T15:55:28.620832+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"caa90aaef4fa3b684113ceea20e0b7e66324c01e","claim":"SHOREPOWER TECHNOLOGIES INC.: The company ceased to be a shell company as a result of the Merger.","evidence_excerpt":"As a result of the Merger, the Company ceased to be a shell company (as defined in Rule 12b-2 of the Exchange Act) as of the Closing.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/764630/000149315223009135/0001493152-23-009135-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"shell status"}],"fact_type":"governance_change"},{"claim_id":"75689c943fb3db85cb3ffb23f3a12df46d10d896","claim":"SHOREPOWER TECHNOLOGIES INC. entered into Agreement and Plan of Merger with Shurepower, LLC d/b/a Shorepower Technologies (effective 2022-11-23).","evidence_excerpt":"On November 23, 2022, the registrant, United States Basketball League, Inc. (“USBL” or the “Company”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Shurepower, LLC d/b/a Shorepower Technologies (“Shorepower”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/764630/000149315223009135/0001493152-23-009135-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Shurepower, LLC d/b/a Shorepower Technologies"},{"label":"Effective","value":"2022-11-23"}],"fact_type":"material_agreement"},{"claim_id":"867776cc7e9e38c10514b0f9cbf14130f45aefb6","claim":"SHOREPOWER TECHNOLOGIES INC. entered into Stock and Warrant Purchase Agreement with a number of purchasers (each, a “Subscriber”) valued at $660,000 (effective 2022-12-01).","evidence_excerpt":"On December 1, 2022, a number of purchasers (each, a “Subscriber”) purchased from the Company pursuant to a Stock and Warrant Purchase Agreement an aggregate of 11,000,000 shares of Common Stock (the “PIPE Shares”), through the purchase of units at a price of $0.06 per unit","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/764630/000149315223009135/0001493152-23-009135-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"a number of purchasers (each, a “Subscriber”)"},{"label":"Value","value":"$660,000"},{"label":"Effective","value":"2022-12-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}