$AETN

UNITED STATES BASKETBALL LEAGUE INC

CIK:0000764630|SEC Filings

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue
Operating Expenses:
Professional fees	15,200		15,200
General and administrative	7,503		7,503
Exploration Costs	82,680		82,680
Project Management Services	27,936		27,936
Consulting	107,560		107,560
Consulting – related party	30,000		60,000
Total operating expenses	270,879		300,879
Loss from Operations	(270,879)		(300,879)
Net loss from continuing operations	(270,879)		(300,879)
Discontinued operations:
Loss from operations of discontinued business	(13,898)	(105,855)	(153,553)	(99,964)
Gain on spin-out of discontinued business	2,007,315		2,037,315
Income (loss) from discontinued business	1,993,417	(105,855)	1,883,762	(99,964)
Net Income (loss) before income tax	1,722,538	(105,855)	1,582,883	(99,964)
Income tax
Net Income (Loss)	$ 1,722,538	$ (105,855)	$ 1,582,883	$ (99,964)
Net loss from continuing operations per common share, basic	$ (0.00)		$ (0.01)
Net loss from continuing operations per common share, diluted	(0.00)		(0.01)
Net income (loss) from discontinued operations per common share, basic	0.04	(0.00)	0.04	(0.00)
Net income (loss) from discontinued operations per common share, diluted	0.04	(0.00)	0.04	(0.00)
Net income (loss) per common share, basic	0.03	(0.00)	0.03	(0.00)
Net income (loss) per common share, diluted	$ 0.03	$ (0.00)	$ 0.03	$ (0.00)
Weighted Average Number of Common Shares: Basic	54,667,704	49,190,204	52,492,276	48,903,235
Weighted Average Number of Common Shares: Diluted	54,667,704	49,190,204	52,492,276	48,903,235

Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income (loss)	$ 1,582,883	$ (99,964)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Loss from discontinued operations	153,553
Gain on disposal of Shorepower Technologies	(2,037,315)
Stock compensation	4,125
Changes in operating assets and liabilities:
Accounts receivable
Inventory
Deposits and prepaids	(1,226,313)
Accounts payable and accrued expenses
Accrued interest – related party
Accrued consulting – related party	60,000
Net cash used in operating activities of discontinued operations	(115,498)	99,893
Net cash used by operating activities	(1,578,565)	(71)
Cash Flows from Financing Activities:
Loans from related parties	2,170,000	5,000
Net cash provided by financing activities	2,266,000	5,000
Net change in cash	687,435	4,929
Cash, beginning of period	15,374	18,332
Cash, end of period	702,809	23,261
Cash paid for:
Interest paid
Income tax paid
Supplemental disclosures non-cash investing activity:
Common stock issued for intangible asset	15,000
Nonrelated Party [Member]
Cash Flows from Financing Activities:
Proceeds from sale of common stock – related party	77,500
Related Party [Member]
Cash Flows from Financing Activities:
Proceeds from sale of common stock – related party	$ 18,500

Condensed Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash	$ 702,809	$ 15,374
Deposits and prepaids	1,226,313
Accounts receivable		984
Inventory		37,199
Total Current Assets	1,929,122	53,557
Non-Current Assets:
Other asset		1,000
Total non-current assets		1,000
Total Assets	1,929,122	54,557
Current Liabilities:
Accounts payable and accrued expenses		125,049
Total Current Liabilities		1,133,765
Notes payable, net of current portion – related party	2,270,348
Total Liabilities	2,270,348	2,053,443
Commitment and contingencies
Stockholders’ Deficit:
Preferred stock
Common stock, $0.01 par value, 250,000,000 shares authorized; 52,815,204 and 49,190,204 shares issued and outstanding, respectively	528,152	491,902
Additional paid-in capital	888,682	809,807
Treasury stock, at cost; 39,975 shares of common stock	(42,454)	(42,454)
Accumulated deficit	(1,735,606)	(3,278,141)
Total Stockholders’ Deficit	(341,226)	(1,998,886)
Total Liabilities and Stockholders’ Deficit	1,929,122	54,557
Series A Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock
Series B Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock	20,000	20,000
Related Party [Member]
Current Liabilities:
Accounts payable – related party		48,864
Accrued officer compensation – related party		506,668
Accrued interest – related party		216,014
Note payable		125,775
Notes payable, net of current portion – related party	2,270,348	919,678
Nonrelated Party [Member]
Current Liabilities:
Note payable		$ 111,395