Form 10-Q - Quarterly report [Sections 13 or 15(d)]

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended August 31, 2023

 

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

 

For the transition period from______ to _____

 

Commission File Number 001-15913

 

SHOREPOWER TECHNOLOGIES INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware		06-1120072
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

 

5291 NE Elam Young Pkwy, Suite 160, Hillsboro, OR 97124

(Address of Principal Executive Offices)

 

[phone]

(Registrant’s Telephone Number, Including Area Code)

 

United States Basketball League, Inc., 8270 Woodland Center, Tampa, FL 33614

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		SPEV		OTC Pink

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐		Accelerated filer ☐
Non-accelerated filer ☒		Smaller reporting company ☒
Emerging Growth Company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date. As of October 9, 2023, there were 48,478,678 shares of Common Stock, $0.01 par value per share, outstanding.

 

 

 

 

 

SHOREPOWER TECHNOLOGIES INC.

 

Form 10-Q

For the Quarterly Period Ended August 31, 2023

 

INDEX

 

PART I	Financial Information	3
Item 1.	Financial Statements (unaudited)	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	13
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	15
Item 4.	Controls and Procedures	15
PART II	Other Information	16
Item 1.	Legal Proceedings	16
Item 1A.	Risk Factors	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16
Item 3.	Defaults Upon Senior Securities	16
Item 4.	Mine Safety Disclosures	16
Item 5.	Other Information	16
Item 6.	Exhibits	16
Signatures		17

 

2

 

 

PART I

FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS.

 

Balance Sheets as of August 31, 2023 (unaudited) and February 28, 2023	4
Statements of Operations for the Three and Six Months Ended August 31, 2023 and 2022 (unaudited)	5
Statements of Changes in Stockholders’ Equity (Deficit) for the Three and Six Months Ended August 31, 2023 and 2022 (unaudited)	6
Statements of Cash Flows for the Six Months Ended August 31, 2023 and 2022 (unaudited)	7
Notes to the Financial Statements (unaudited)	8

 

3

 

 

SHOREPOWER TECHNOLOGIES INC.

(Formerly United States Basketball League, Inc.)

CONDENSED BALANCE SHEETS

(Unaudited)

 

 

		August 31,				February 28,
		2023				2023
ASSETS
Current Assets:
Cash		$	414,075			$	114,851
Funds held in escrow			—				553,000
Accounts receivable			2,500				—
Prepaids			2,660				535
Inventory			14,269				6,880
Total Current Assets			433,504			$	675,266
Non-Current Assets:
Other asset			1,000				1,000
Total non-current assets			1,000				1,000
Total Assets		$	434,504			$	676,266
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable and accrued expenses		$	48,654				106,394
Accrued officer compensation – related party			80,000				20,000
Accrued interest – related party			46,554				—
Notes payable – related party			116,774				105,689
Note payable			111,395				111,395
Total Current Liabilities			403,377				343,478
Notes payable, net of current portion – related party			1,111,824				1,184,309
Total Liabilities			1,515,201				1,527,787
Stockholders’ Deficit:
Preferred stock, $0.01 par value, 6,894,356 shares authorized; no shares issued and outstanding			—				—
Series A preferred stock, $0.01 par value, 1,105,644 shares designated; no shares issued and outstanding			—				—
Series B preferred stock, $0.01 par value, 2,000,000 shares designated; 2,000,000 issued and outstanding			20,000				20,000
Common stock, $0.01 par value, 100,000,000 shares authorized; 48,478,678 and 47,435,106 shares issued and outstanding, respectively			484,787				474,351
Additional paid-in capital			803,127				615,284
Accumulated deficit			(2,346,157	)			(1,918,702	)
Treasury stock, at cost; 39,975 shares of common stock			(42,454	)			(42,454	)
Total Stockholders’ Deficit			(1,080,697	)			(851,521	)
Total Liabilities and Stockholders’ Deficit		$	434,504			$	676,266

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

4

 

 

SHOREPOWER TECHNOLOGIES INC.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

 

 

		For the Three Months Ended August 31,								For the Six Months Ended August 31,
		2023				2022				2023				2022
Service revenue, net		$	2,532			$	4,131			$	3,807			$	7,174
Product sales			—				2,375				7,909				2,375
Total revenue			2,532				6,506				11,716				9,549
Cost of revenue			7,494				9,804				18,380				20,499
Gross margin			(6,077	)			(3,298	)			(6,664	)			(10,950	)
Operating Expenses:
Professional fees			216,114				7,418				230,249				12,074
General and administrative			9,732				10,757				64,043				22,789
Consulting			20,010				—				20,010				—
Officer compensation			30,000				31,200				60,000				62,400
Total operating expenses			275,856				49,375				374,302				97,263
Loss from Operations			(281,933	)			(52,673	)			(380,966	)			(108,213	)
Other Income (Expense):
Other income			25				—				65				—
Interest expense			(30,462	)			—				(46,554	)			—
Impairment of fixed asset			—				—				—				(46,063	)
Total other expense			(30,437	)			—				(46,489	)			(46,063	)
Net loss		$	(312,370	)		$	(52,673	)		$	(427,455	)		$	(154,276	)
Loss per Common Share: Basic and Diluted		$	(0.04	)		$	(0.01	)		$	(0.01	)		$	(0.02	)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted			48,169,047				8,845,348				47,690,390				8,845,348

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

5

 

 

SHOREPOWER TECHNOLOGIES INC.

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)

FOR THE THREE AND SIX MONTHS ENDED AUGUST 31, 2023 and 2022

(Unaudited)

 

 

		Common Stock								Series B Preferred Stock								Additional Paid-in				Accumulated				Treasury Stock								Total Stockholders’ Equity
		Shares				Amount				Shares				Amount				Capital				Deficit				Shares				Amount				(Deficit)
Balance, February 28, 2023			47,435,106			$	474,351				2,000,000			$	20,000			$	615,284			$	(1,918,702	)			39,975			$	(42,454	)		$	(851,521	)
Net Loss			—				—				—				—				—				(115,085	)			—				—				(115,085	)
Balance, May 31, 2023			47,435,106				474,351				2,000,000				20,000				615,284				(2,033,787	)			39,975				(42,454	)			(966,606	)
Common stock issued for services			1,043,572				10,436				—				—				187,843				—				—				—				198,279
Net Loss			—				—				—				—				—				(312,370	)			—				—				(312,370	)
Balance, August 31, 2023			48,478,678			$	484,787				2,000,000			$	20,000			$	803,127			$	(2,346,157	)			39,975			$	(42,454	)		$	(1,080,697	)

 

 

 

		Common Stock								Series A Preferred Stock								Additional				Accumulated				Common Shares				Treasury Stock								Total Stockholders’
		Shares				Amount				Shares				Amount				Paid-in Capital				Deficit				To be Issued				Shares				Amount				Equity (Deficit)
Balance, February 28, 2022			7,142,202			$	71,462				1,105,644			$	11,057			$	(1,539,725	)		$	(1,605,572	)		$	1,699,146				39,975			$	(42,454	)		$	(1,406,086	)
Conversion of preferred stock to common stock			1,699,146				16,991				(1,105,644	)			(11,057	)			1,693,212				—				(1,699,146	)			—				—				—
Net Loss			—				—				—				—				—				(101,603	)			—				—				—				(101,603	)
Balance, May 31, 2022			8,841,348				88,453				—				—				153,487				(1,707,175	)			—				39,975				(42,454	)			(1,507,689	)
Net Loss			—				—				—				—				—				(52,673	)			—				—				—				(52,673	)
Balance, August 31, 2022			8,841,348			$	88,453				—			$	—			$	153,487			$	(1,759,848	)		$	—				39,975			$	(42,454	)		$	(1,560,362	)

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

6

 

 

SHOREPOWER TECHNOLOGIES INC.

STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

		For the Six Months Ended
		August 31,
		2023				2022
Cash Flows from Operating Activities:
Net loss		$	(427,455	)		$	(154,276	)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment expense			—				46,063
Common stock issued for services			198,279				—
Changes in operating assets and liabilities:
Accounts receivable			(2,500	)			(2,500	)
Inventory			(7,389	)			(1,763	)
Prepaids			(2,125	)			(5,404	)
Accounts payable and accrued expenses			(57,740	)			(68,197	)
Accrued interest – related party			46,554				—
Accrued officer compensation			60,000				62,400
Net cash used in operating activities			(192,376	)			(123,677	)
Cash Flows from Investing Activities			—				—
Cash Flows from Financing Activities:
Repayment of related party loan			(61,400	)			(7,500	)
Net cash used in financing activities			(61,400	)			(7,500	)
Net change in cash			(253,776	)			(131,177	)
Cash, beginning of period			114,851				319,980
Funds held in escrow, beginning of period			553,000				—
Cash, end of period		$	414,075			$	188,803
Supplemental disclosures of cash flow information:
Interest paid		$	—			$	—
Income tax paid		$	—			$	—

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

 

7

 

 

SHOREPOWER TECHNOLOGIES INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

August 31, 2023

 

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

 

Shorepower Technologies Inc. (“SPEV” “Shorepower” “the Company”) (formerly United States Basketball League, Inc) was incorporated in Delaware on May 29, 1984, as a wholly owned subsidiary of Meisenheimer Capital, Inc. (“MCI”) for the purpose of developing and managing a professional basketball league, the United States Basketball League (the “League”).

 

On April 7, 2021, through a series of Stock Purchase Agreements (the “Purchase Agreements”), the majority owners of the Company, Richard C. Meisenheimer, Daniel T. Meisenheimer, III, James Meisenheimer, Meisenheimer Capital, Inc. and Spectrum Associates, Inc. (the “Sellers”) sold 2,704,007 common shares which it held, to a new investor group. The Sellers also sold 1,105,644 of SPEV’s preferred stock at a per share price of $.057 per share to EROP Enterprises, LLC. As a result of the sale of common and preferred stock by the Sellers, the Company experienced a change in control.

 

World Equity Markets acted in the capacity of a broker/dealer for the Purchase Agreements and was issued 125,000 shares of common stock for its services, and Verde Capital was issued 150,000 shares for Consulting Services. Effective April 7, 2021, the Board of Directors accepted the resignation of Daniel T. Meisenheimer, III as Chairman of the Board of Directors and President of the Company. Effective April 7, 2021, Saeb Jannoun was appointed to fill the vacancy following the resignation of Daniel T. Meisenheimer, III as Chairman of the Board of Directors and President of the Company. Mr. Michael Pruitt also joined the Board.

 

The Company’s Agreement and Plan of Merger (the “Merger Agreement”) with Shurepower, LLC d/b/a Shorepower Technologies under which Shorepower was merged with and into SPEV (the “Merger”) was closed on March 22, 2023.

 

Under the terms of the Merger Agreement, Jeff Kim, the prior CEO of Shurepower, LLC and the current CEO of the Company, now owns 26,089,758 of the issued and outstanding shares of the Company’s common stock. 11,000,000 shares of common stock was sold under the Pre-Merger Financing that raised $660,000. Mr. Kim has received 2,000,000 shares of a Series B Preferred stock and the right to receive the following additional shares of SPEV common stock upon achieving the following milestones: (i) an additional 2.5% of the issued and outstanding SPEV Common Stock upon the completion of either (a) the conversion of 75 existing connection points to Level 2 or greater or the (b) installation of 75 new connection points to revenue producing stations in the first 12 months or some combination of the two yielding 75 units, (ii) an additional 2.5% of the of the issued and outstanding SPEV Common Stock upon (a) the application for $10M in grants and/or the (b) the award of $1.0 million in grants in the first 18 months; (iii) an additional 2.5% of the issued and outstanding SPEV common stock outstanding upon the completion of acquisitions in the first 24 months generating no less than $3.0 million in gross revenues and (iv) an additional 500,000 shares of SPEV common stock upon acquiring or hiring the following key personnel in the first six months after the effective date of the merger: (a) three or more qualified Board members and (b) at least three of the following four individuals having the following qualifications: one sales/marketing person, one grant writer/Government relations person, one technician/maintenance person and one software programmer/engineer.

 

We accounted for the Merger transaction as a recapitalization resulting from the acquisition by a non-operating public company that is not a shell company (as defined in Rule 12b-2 under the Securities Exchange Act of 1934). This accounting treatment as a recapitalization is consistent with Commission guidance promulgated in staff speeches and the SEC Reporting Manual, Topic 12 on Reverse Acquisitions and Recapitalizations. As such, the transaction is outside the scope of FASB ASC 805. Specifically, the Merger transaction was treated as a reverse recapitalization in which the entity that issues securities (the legal acquirer) is determined to be the accounting acquiree, while the entity receiving securities (the legal acquiree) is the accounting acquirer.

 

Under reverse merger accounting (i.e., recapitalization), historical financial statements of Shurepower, LLC (the legal acquiree, accounting acquirer), are presented with one adjustment, which is to retroactively adjust the accounting acquirer’s legal capital to reflect the legal capital of the accounting acquiree. That adjustment is required to reflect the capital of the legal parent (the accounting acquiree). Comparative information presented in the consolidated financial statements also is retroactively adjusted to reflect the legal capital of the legal parent (accounting acquiree).

 

8

 

 

As a result of the merger transaction the Company reduced its accumulated deficit and increased its additional paid in capital by approximately $5,872,000.

 

Effective on the date of closing the merger, Saeb Jannoun and Michael D. Pruitt resigned as directors of the Company, and Mr. Jannoun resigned as the CEO. Jeff Kim was appointed as the sole officer and director.

 

Effective June 20, 2023, the Company’s name was changed to Shorepower Technologies Inc and its ticker symbol to SPEV.

 

The Company is a transportation electrification infrastructure manufacturer of Electric Vehicle Supply Equipment (EVSE), Truck Stop Electrification (TSE) and electric standby Transport Refrigeration Unit (eTRU) stations. They have 60 operational TSE facilities with over 1,800 individual electrified parking spaces in 31 states. Shorepower’s stations are EPA SmartWay-Verified and CARB-Verified. The Company has headquarters in Hillsboro (Portland Area), Oregon and an office in Detroit, Michigan metro area. Shorepower is a certified minority owned business enterprise (MBE). The Company’s management team is comprised of a group of seasoned individuals with knowledge of technology, transportation and heavy-duty vehicles and nearly two decades working together. Combined, the team has managed over $16 million in government contracts and grant funds to deploy transportation electrification throughout the nation.

 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Unaudited Interim Financial Information

 

The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended February 28, 2023, have been omitted. The condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).

 

Use of Estimates

 

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill.

 

Inventory

 

Inventories are stated at the lower of cost or market. Cost is principally determined using the last-in, first-out (LIFO) method. The Company periodically assesses if any of the inventory has become obsolete or if the value has fallen below cost. When this occurs, the Company recognizes an expense for inventory write down. Total inventory at August 31, 2023 and February 28, 2023, was $14,269 and $6,880, respectively.

 

Revenue Recognition

 

The Company follows ASC 606, Revenue from Contracts with Customers, the core principle of which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. The Company generated revenues from selling power vending stations (charging stations). The Company considers its performance obligations satisfied upon shipment and/or delivery of the purchased products to the customer. The Company evaluates returns from customers purchasing product on a case-by-case basis and generally will issue replacement product in the limited cases of product returns. The Company has no policy requiring cash refunds.

 

9

 

 

Cost of Revenue

 

Cost of revenues includes actual product cost, labor, if any, utilities and direct overheard, which is applied on a per unit basis.

 

Accounts Receivable

 

Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value when needed. As of August 31, 2023, management has determined that an allowance for doubtful accounts is not required as all amounts are considered to be collectible.

 

Recently Issued Accounting Pronouncements

 

The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

 

NOTE 3 – GOING CONCERN

 

The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has an accumulated deficit of $2,346,157, with minimal revenue generated. Due to these conditions, it raises substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.

 

NOTE 4 – LOAN PAYABLE

 

As of August 31, 2023 and February 28, 2023, the Company has a loan payable to a third party of $111,395 and $111,395, respectively. The loan is non-interest bearing and due on demand.

 

NOTE 5 – RELATED PARTY TRANSACTIONS

 

On February 15, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $200,000 for funds loaned to the Company on February 15, 2022. The note matures in twenty years and accrues interest at 6.58% per annum. The Company began monthly payments of $1,500 on April 1, 2022. As of August 31, 2023 and February 28, 2023, the balance due on this note is $144,444 and $185,000, respectively.

 

On March 1, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $253,954. The amount of the note is the balance due to Mr. Kim for loans to the Company beginning in 2017. The note matures in ten years and accrues interest at 6.63% per annum beginning April 1, 2023. The Company is to begin monthly payments of principal and interest of $2,900 on April 1, 2023, or within one year without penalty. As of August 31, 2023, there is $246,054 and $7,013 of principal and interest due on this note, respectively.

 

10

 

 

On December 31, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $1,237,600. The amount of the note is the balance due to Mr. Kim for accrued compensation. The note matures in ten years and accrues interest at 6.42% per annum beginning April 1, 2023. The Company is to begin monthly payments principal and interest of $14,000 on April 1, 2023, or within one year without penalty. On December 31, 2022, Mr. Kim forgave $400,000 of the principal amount of the note. As of August 31, 2023, there is $837,600 and $22,544 of principal and interest due on this note, respectively.

 

On March 22, 2023, the Company entered into an executive employment agreement with its executive officer, Jeff Kim. Under the terms of his employment agreement, Mr. Kim’s annual base salary is $200,000 but payment of such salary is subject to the cash flow of the Company as determined by the Board and agreed to by Mr. Kim and any payment cannot exceed $10,000 per month for the nine months from the date of the employment agreement. Additionally, a $2,000 monthly loan payment will be made as part of the merger agreement. Mr. Kim may elect to defer his salary and receive repayment of his current outstanding loans to the Company, not to exceed $10,000 per month, for nine months from the date of his employment agreement. Mr. Kim is still entitled to defer his $10,000 monthly salary, when loan payments made. As of August 31, 2023 and February 28, 2023, there is $80,000 and $20,000, of accrued compensation due to Mr. Kim.

 

NOTE 6 – COMMON STOCK

 

On February 17, 2023, the Company sold 11,000,000 shares of common stock through the purchase of units at a price of $0.06 per unit, each unit consisting of one share of its common stock and one warrant to purchase shares of its common stock, for total proceeds of $660,000. Funds held at escrow after deducting legal and investor relation expenses was $553,000 as of February 28, 2023. The funds held in escrow were transferred to the Company in March 2023.

 

On August 30, 2023, the Company granted 1,043,572 shares of common stock for investor relation services. The shares were valued at $0.19, the closing price on the date of grant, for total non-cash expense of $198,279.

 

NOTE 7 – PREFERRED STOCK

 

On May 18, 2021, the Company increased its authorized shares of Preferred Stock from 2,000,000 to 10,000,000 shares.

 

There are 1,105,644 shares designated as Series A preferred stock (“Series A”). Each share of the Series A has five votes, is entitled to a 2% cumulative annual dividend, and is convertible at any time into shares of common stock. On February 28, 2022, EROP converted its 1,105,644 shares of Series A Preferred stock into 1,699,146 shares of common stock. As a result of the conversion, the Company recognized interest expense of $1,699,146. The conversion was not processed by the transfer agent until March 4, 2022, therefore, although the expense was recognized as of February 28, 2022, the conversion was not reflected in the shares outstanding.

 

As of August 31, 2023, there were no shares of Series A issued and outstanding.

 

As part of the merger, the Company designated 2,000,000 of its 10,000,000 shares of authorized preferred stock as Series B preferred. Each Series B preferred share has voting power of 40 shares of the Company’s common stock. The Series B preferred has no conversion feature.

 

As of August 31, 2023, there are 2,000,000 shares of Series B issued and outstanding.

 

NOTE 8 – WARRANTS

 

On February 17, 2023, the Company sold 11,000,000 shares of common stock through the purchase of units at a price of $0.06 per unit, each unit consisting of one share of common stock and one warrant to purchase common stock, for total proceeds of $660,000. The Warrants are exercisable for shares of the Company’s common stock at a price of $0.25 per share and expire two years from the date of issuance. The warrants are callable by the Company if its common stock trades at $0.75 for at least 20 trading days and at a volume of not less than 30,000 shares per day. Using the fair value calculation, the relative fair value for the warrants was calculated to determine the warrants recorded equity amount of $524,737, which has been accounted for in additional paid in capital.

 

11

 

 

In accordance to ASC 815-40, an equity-linked financial instrument can be classified in equity only if it (1) is indexed to the reporting entity’s own stock and (2) meets all other conditions for equity classification. The warrants are classified as equity instruments because a fixed amount of cash is exchanged for a fixed amount of equity.

 

The fair value of the warrants was determined using the Black-Scholes option pricing model which requires the input of subjective assumptions, the expected life of the warrants, and the expected stock price volatility. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards.

 

The assumptions used to determine the fair value of the Warrants as follows:

 

 SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS

		Year Ended February 28, 2023
Expected life (years)			2
Risk-free interest rate			4.78	%
Expected volatility			224.92	%
Dividend yield			0	%

 

The expected life of the warrants was estimated using the “simplified method,” as the Company has no historical information to develop reasonable expectations about future exercise patterns for its warrant grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. The expected life of awards that vest immediately use the contractual maturity since they are vested when issued.

 

For stock price volatility, the Company calculated its expected volatility based on the historical closing price of its common stock, par value $0.01 per share. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the warrant at the grant-date.

 

SCHEDULE OF WARRANT ACTIVITY

		Number of Warrants				Weighted Average Exercise Price				Weighted Average Remaining Contract Term				Intrinsic Value
Outstanding, February 28, 2023			11,000,000			$	0.25				2
Issued			—			$	—				—
Cancelled			—			$	—				—
Exercised			—			$	—				—
Outstanding, August 31, 2023			11,000,000			$	0.25				1.47			$	660,000

 

NOTE 9 – SUBSEQUENT EVENTS

 

In accordance with ASC 855-10 the Company has analyzed its operations subsequent to August 31, 2023, and to the date these unaudited financial statements were issued and has determined that it does not have any subsequent events to disclose in these unaudited financial statements.

 

12

 

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION.

 

Forward-looking Statements

 

Unless the context indicates otherwise, as used in this Quarterly Report, the terms “SPEV,” “we,” “us,” “our,” “our company” and “our business” refer, to Shorepower Technologies Inc. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking statements generally are identified by the words “believes,” “project,” “expects,” “anticipates,” “estimates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on our operations and future prospects include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements.

 

OVERVIEW

 

Until March 22, 2023, we were an emerging diversified investment vehicle focused on acquiring equity in companies that we believed were or could be leaders in the markets in which they were involved.

 

On November 23, 2022, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Shurepower, LLC d/b/a Shorepower Technologies (“Shorepower”), under which Shorepower was merged with and into SPEV (formerly “USBL”) The closing occurred on March 22, 2023.

 

Shorepower is a transportation electrification infrastructure manufacturer of Electric Vehicle Supply Equipment (EVSE), Truck Stop Electrification (TSE) and electric standby Transport Refrigeration Unit (eTRU) stations. They have 60 operational TSE facilities with over 1,800 individual electrified parking spaces in 31 states. Shorepower’s stations are EPA SmartWay-Verified and CARB-Verified. Shorepower has its headquarters in Hillsboro, Oregon, near Portland, Oregon, and an office in the Detroit, Michigan metro area. Shorepower is a certified minority owned business enterprise (MBE). The Shorepower management team is comprised of a group of seasoned individuals with knowledge of technology, transportation electrification, charging stations and heavy-duty vehicle technologies. Combined, the team has managed over $16 million in government contracts and grant funds to deploy transportation electrification throughout the nation.

 

Results of Operations

 

For the three months ended August 31, 2023 compared to the three months ended August 31, 2022

 

Revenue and Cost of Revenue

 

We had total revenue of $2,532 (net of $1,242 revenue share) and $6,506 for the three months ended August 31, 2023 and 2022, respectively, a decrease of $3,974 or 61%. We had cost of revenue of $7,494 and $9,804, respectively, for gross margin of ($6,077) and ($3,298), respectively. We are currently in the process of upgrading sites to a new payment and control system. Revenue will remain low until the upgrades to the sites are completed.

 

Professional Fees

 

For the three months ended August 31, 2023, the company incurred $216,114 of professional fees compared to $7,418 for the three months ended August 31, 2022, an increase of $208,696. Professional fees generally consist of audit, legal, accounting and investor relation fees. In the current period we had an increase in all fees as a result of the merger and the required fees of being a public company. In addition, we issued shares of common stock for total non-cash expense of $198,279. Excluding this one-time non-cash expense, $17,835 was incurred for professional fees.

 

13

 

 

General and Administrative Expense

 

For the three months ended August 31, 2023, the company incurred $9,732 of general and administrative expense (“G&A”) compared to $10,757 for the three months ended August 31, 2022, a decrease of $1,025 or 9.5%.

 

Consulting Expense

 

For the three months ended August 31, 2023 and 2022, we recognized $20,010 and $0, respectively, of consulting expense. This increase was primarily for grant writing, engineering services and other consultants that were brought on after the merger.

 

Officer Compensation

 

For the three months ended August 31, 2023 and 2022, we had officer compensation expense of $30,000 and $31,200, respectively.

 

Other Income/Expense

 

For the three months ended August 31, 2023 and 2022, we had total other expense of $30,437 and $0, respectively. In the current period we recognized $30,462 of interest expense, offset with $25 of other income.

 

Net Loss

 

For the three months ended August 31, 2023, we had a net loss of $312,370 compared to $52,673 for the three months ended August 31, 2022, an increase of $259,697. We had an increase in our net loss primarily due to the stock issued for services. Excluding the one-time stock issuance, we had a net loss of $114,091 for the three months ended August 31, 2023.

 

For the six months ended August 31, 2023 compared to the six months ended August 31, 2022

 

Revenue and Cost of Revenue

 

We had total revenue of $11,716 (net of $2,764 revenue share) and $9,549 for the six months ended August 31, 2023 and 2022, respectively, an increase of $2,167 or 22.7%. We had cost of revenue of $18,380 and $20,499, respectively, for gross margins of ($6,664) and ($10,950), respectively. Power usage revenue increased in 2023, primarily due to getting more stations online with the new control system hardware and a sale of charging station equipment.

 

Professional Fees

 

For the six months ended August 31, 2023, the company incurred $230,249 of professional fees compared to $12,074 for the six months ended August 31, 2022, an increase of $218,175. Professional fees generally consist of audit, legal, accounting and investor relation fees. In the current period we had an increase in all fees as a result of the merger and the required fees of being a public company. In addition, we issued shares of common stock for total non-cash expense of $198,279. Excluding this one-time non-cash expense, $31,970 was incurred for professional fees.

 

General and Administrative Expense

 

For the six months ended August 31, 2023, the company incurred $64,043 of G&A expenses compared to $22,789 for the six months ended August 31, 2022, an increase of $41,254 or 181%. In the current period we had an increase of insurance expense of ~$13,300, transfer agent fees of ~$9,000, licenses & fees of ~$6,000 and other expenses associated with being an SEC company ~$11,000.

 

Consulting Expense

 

For the six months ended August 31, 2023 and 2022, we recognized $20,010 and $0, respectively, of consulting expense. This increase was primarily for grant writing, engineering services and other consultants that were brought on after the merger.

 

Officer Compensation

 

For the six months ended August 31, 2023 and 2022, we had officer compensation expense of $60,000 and $62,400, respectively.

 

14

 

 

Other Income/Expense

 

For the six months ended August 31, 2023 and 2022, we had total other expense of $46,489 and $46,063, respectively. In the current period we recognized $46,554 of interest expense, offset with $65 of other income. In the prior period we recognized a loss on impairment of $46,063.

 

Net Loss

 

For the six months ended August 31, 2023, we had a net loss of $427,455 compared to $154,276 for the six months ended August 31, 2022, an increase of $273,179. We had an increase in our net loss primarily due to the stock issued for services. Excluding this one-time non-cash expense, net loss was $229,176 for this period.

 

Liquidity and Capital Resources

 

Operating Activities

 

For the six months ended August 31, 2023, the company used $192,376 of cash in operating activities compared to $123,677 for the six months ended August 31, 2022.

 

Financing Activities

 

During the six months ended August 31, 2023 and 2022, we repaid $61,400 and $7,500 of related party loans, respectively.

 

Off Balance Sheet Arrangements

 

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

 

Critical Accounting Policies

 

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Note 2 to the Financial Statements describes the significant accounting policies and methods used in the preparation of the Financial Statements. Estimates are used for, but not limited to, contingencies and taxes. Actual results could differ materially from those estimates. The following critical accounting policies are impacted significantly by judgments, assumptions, and estimates used in the preparation of the Financial Statements.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and, as such, are not required to provide the information under this Item.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Disclosure Controls and Procedures

 

Each of our principal executive and principal financial officer has evaluated the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of the end of the period covered by this quarterly report. Based on their evaluation, each such person concluded that our disclosure controls and procedures were not effective as of August 31, 2023.

 

In designing and evaluating disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute assurance of achieving the desired objectives. Also, the design of a control system must reflect the fact that there are resource constraints and the benefits of controls must be considered relative to their costs.

 

Changes in Internal Control over Financial Reporting.

 

Our management has evaluated whether any change in our internal control over financial reporting occurred during the last fiscal quarter. Based on that evaluation, management concluded that there has been no change in our internal control over financial reporting during the relevant period that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 

15

 

 

PART II - OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

None

 

ITEM 1A. RISK FACTORS

 

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and, as such, are not required to provide the information under this Item.

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

None.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable

 

ITEM 5. OTHER INFORMATION

 

None

 

ITEM 6. EXHIBITS

 

Exhibit No.		Description
31.1		Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS		Inline XBRL Instance Document
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in exhibit 101).

 

16

 

 

SIGNATURES

 

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

SHOREPOWER TECHNOLOGIES INC.
Dated: October 19, 2023
/s/ Jeff Kim
Jeff Kim
President and Chief Executive Officer
(Principal Executive Officer, Principal Financial Officer and
Principal Accounting Officer)

 

17

 

 

 

Exhibit 31.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Jeff Kim, certify that:

 

1.	I have reviewed this Quarterly Report on Form 10-Q of Shorepower Technologies Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a- 15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.	I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

	a.	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: October 19, 2023
/s/ Jeff Kim
Jeff Kim
Chief Executive Officer and Chief Financial Officer
(Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer)

 

 

 

Exhibit 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Jeff Kim, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1)	the Quarterly Report on Form 10-Q of Shorepower Technologies Inc. for the quarter ended August 31, 2023 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2)	the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Shorepower Technologies Inc.

 

Dated: October 19, 2023

 

	/s/ Jeff Kim
	Jeff Kim
	President, Chief Executive Officer, Chief Financial
	Officer, and Director
	(Principal Executive Officer, Principal Financial
	Officer and Principal Accounting Officer)

 

 

Cover - shares	6 Months Ended
	Aug. 31, 2023	Oct. 09, 2023
Entity Addresses [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Aug. 31, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--02-29
Entity File Number	001-15913
Entity Registrant Name	SHOREPOWER TECHNOLOGIES INC.
Entity Central Index Key	0000764630
Entity Tax Identification Number	06-1120072
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	5291 NE Elam Young Pkwy
Entity Address, Address Line Two	Suite 160
Entity Address, City or Town	Hillsboro
Entity Address, State or Province	OR
Entity Address, Postal Zip Code	97124
City Area Code	(503)
Local Phone Number	892-7345
Title of 12(b) Security	Common Stock
Trading Symbol	SPEV
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,478,678
Former Address [Member]
Entity Addresses [Line Items]
Entity Address, Address Line One	United States Basketball League, Inc.
Entity Address, Address Line Two	8270 Woodland Center
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33614

Condensed Balance Sheets - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Current Assets:
Cash	$ 414,075	$ 114,851
Funds held in escrow		553,000
Accounts receivable	2,500
Prepaids	2,660	535
Inventory	14,269	6,880
Total Current Assets	433,504	675,266
Non-Current Assets:
Other asset	1,000	1,000
Total non-current assets	1,000	1,000
Total Assets	434,504	676,266
Current Liabilities:
Accounts payable and accrued expenses	48,654	106,394
Accrued officer compensation – related party	80,000	20,000
Accrued interest – related party	46,554
Total Current Liabilities	403,377	343,478
Total Liabilities	1,515,201	1,527,787
Stockholders’ Deficit:
Preferred stock value
Common stock, $0.01 par value, 100,000,000 shares authorized; 48,478,678 and 47,435,106 shares issued and outstanding, respectively	484,787	474,351
Additional paid-in capital	803,127	615,284
Accumulated deficit	(2,346,157)	(1,918,702)
Treasury stock, at cost; 39,975 shares of common stock	(42,454)	(42,454)
Total Stockholders’ Deficit	(1,080,697)	(851,521)
Total Liabilities and Stockholders’ Deficit	434,504	676,266
Series A Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value
Series B Preferred Stock [Member]
Stockholders’ Deficit:
Preferred stock value	20,000	20,000
Related Party [Member]
Current Liabilities:
Note payable	116,774	105,689
Notes payable, net of current portion – related party	1,111,824	1,184,309
Nonrelated Party [Member]
Current Liabilities:
Note payable	$ 111,395	$ 111,395

Condensed Balance Sheets (Parenthetical) - $ / shares	Aug. 31, 2023	Feb. 28, 2023
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	6,894,356	6,894,356
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	48,478,678	47,435,106
Common stock, shares outstanding	48,478,678	47,435,106
Treasury stock, share	39,975	39,975
Series A Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,105,644	1,105,644
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	2,000,000	2,000,000
Preferred stock, shares outstanding	2,000,000	2,000,000

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
Total revenue	$ 2,532	$ 6,506	$ 11,716	$ 9,549
Cost of revenue	7,494	9,804	18,380	20,499
Gross margin	(6,077)	(3,298)	(6,664)	(10,950)
Operating Expenses:
Professional fees	216,114	7,418	230,249	12,074
General and administrative	9,732	10,757	64,043	22,789
Consulting	20,010		20,010
Officer compensation	30,000	31,200	60,000	62,400
Total operating expenses	275,856	49,375	374,302	97,263
Loss from Operations	(281,933)	(52,673)	(380,966)	(108,213)
Other Income (Expense):
Other income	25		65
Interest expense	(30,462)		(46,554)
Impairment of fixed asset				(46,063)
Total other expense	(30,437)		(46,489)	(46,063)
Net loss	$ (312,370)	$ (52,673)	$ (427,455)	$ (154,276)
Basic loss per common share	$ 0.04	$ 0.01	$ 0.01	$ 0.02
Diluted loss per common share	$ 0.04	$ 0.01	$ 0.01	$ 0.02
Weighted average number of common shares outstanding - basic	48,169,047	8,845,348	47,690,390	8,845,348
Weighted average number of common shares outstanding - diluted	48,169,047	8,845,348	47,690,390	8,845,348
Service [Member]
Total revenue	$ 2,532	$ 4,131	$ 3,807	$ 7,174
Product [Member]
Total revenue		$ 2,375	$ 7,909	$ 2,375

Condensed Statements of Changes in Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Common Stock [Member]	Preferred Stock [Member] Series B Preferred Stock [Member]	Preferred Stock [Member] Series A Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Shares To Be Issued [Member]	Treasury Stock, Common [Member]	Total
Balance at Feb. 28, 2022	$ 71,462		$ 11,057	$ (1,539,725)	$ (1,605,572)	$ 1,699,146	$ (42,454)	$ (1,406,086)
Balance, shares at Feb. 28, 2022	7,142,202		1,105,644				39,975
Net Loss					(101,603)			(101,603)
Conversion of preferred stock to common stock	$ 16,991		$ (11,057)	1,693,212		(1,699,146)
Conversion of preferred stock to common stock, shares	1,699,146		(1,105,644)
Balance at May. 31, 2022	$ 88,453			153,487	(1,707,175)		$ (42,454)	(1,507,689)
Balance, shares at May. 31, 2022	8,841,348						39,975
Balance at Feb. 28, 2022	$ 71,462		$ 11,057	(1,539,725)	(1,605,572)	1,699,146	$ (42,454)	(1,406,086)
Balance, shares at Feb. 28, 2022	7,142,202		1,105,644				39,975
Net Loss								(154,276)
Balance at Aug. 31, 2022	$ 88,453			153,487	(1,759,848)		$ (42,454)	(1,560,362)
Balance, shares at Aug. 31, 2022	8,841,348						39,975
Balance at May. 31, 2022	$ 88,453			153,487	(1,707,175)		$ (42,454)	(1,507,689)
Balance, shares at May. 31, 2022	8,841,348						39,975
Net Loss					(52,673)			(52,673)
Balance at Aug. 31, 2022	$ 88,453			153,487	(1,759,848)		$ (42,454)	(1,560,362)
Balance, shares at Aug. 31, 2022	8,841,348						39,975
Balance at Feb. 28, 2023	$ 474,351	$ 20,000		615,284	(1,918,702)		$ (42,454)	(851,521)
Balance, shares at Feb. 28, 2023	47,435,106	2,000,000					39,975
Net Loss					(115,085)			(115,085)
Balance at May. 31, 2023	$ 474,351	$ 20,000		615,284	(2,033,787)		$ (42,454)	(966,606)
Balance, shares at May. 31, 2023	47,435,106	2,000,000					39,975
Balance at Feb. 28, 2023	$ 474,351	$ 20,000		615,284	(1,918,702)		$ (42,454)	(851,521)
Balance, shares at Feb. 28, 2023	47,435,106	2,000,000					39,975
Net Loss								(427,455)
Balance at Aug. 31, 2023	$ 484,787	$ 20,000		803,127	(2,346,157)		$ (42,454)	(1,080,697)
Balance, shares at Aug. 31, 2023	48,478,678	2,000,000
Balance at May. 31, 2023	$ 474,351	$ 20,000		615,284	(2,033,787)		$ (42,454)	(966,606)
Balance, shares at May. 31, 2023	47,435,106	2,000,000					39,975
Net Loss					(312,370)			(312,370)
Common stock issued for services	$ 10,436			187,843				198,279
Common stock issued for services, shares	1,043,572
Balance at Aug. 31, 2023	$ 484,787	$ 20,000		$ 803,127	$ (2,346,157)		$ (42,454)	$ (1,080,697)
Balance, shares at Aug. 31, 2023	48,478,678	2,000,000

Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Aug. 31, 2023	Aug. 31, 2022
Cash Flows from Operating Activities:
Net loss	$ (427,455)	$ (154,276)
Adjustments to reconcile net loss to net cash used in operating activities:
Impairment expense		46,063
Common stock issued for services	198,279
Changes in operating assets and liabilities:
Accounts receivable	(2,500)	(2,500)
Inventory	(7,389)	(1,763)
Prepaids	(2,125)	(5,404)
Accounts payable and accrued expenses	(57,740)	(68,197)
Accrued interest – related party	46,554
Accrued officer compensation	60,000	62,400
Net cash used in operating activities	(192,376)	(123,677)
Cash Flows from Investing Activities
Cash Flows from Financing Activities:
Repayment of related party loan	(61,400)	(7,500)
Net cash used in financing activities	(61,400)	(7,500)
Net change in cash	(253,776)	(131,177)
Cash, beginning of period	114,851	319,980
Funds held in escrow, beginning of period	553,000
Cash, end of period	414,075	188,803
Supplemental disclosures of cash flow information:
Interest paid
Income tax paid

ORGANIZATION AND DESCRIPTION OF BUSINESS	6 Months Ended
	Aug. 31, 2023
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS   Shorepower Technologies Inc. (“SPEV” “Shorepower” “the Company”) (formerly United States Basketball League, Inc) was incorporated in Delaware on May 29, 1984, as a wholly owned subsidiary of Meisenheimer Capital, Inc. (“MCI”) for the purpose of developing and managing a professional basketball league, the United States Basketball League (the “League”).   On April 7, 2021, through a series of Stock Purchase Agreements (the “Purchase Agreements”), the majority owners of the Company, Richard C. Meisenheimer, Daniel T. Meisenheimer, III, James Meisenheimer, Meisenheimer Capital, Inc. and Spectrum Associates, Inc. (the “Sellers”) sold 2,704,007 common shares which it held, to a new investor group. The Sellers also sold 1,105,644 of SPEV’s preferred stock at a per share price of $.057 per share to EROP Enterprises, LLC. As a result of the sale of common and preferred stock by the Sellers, the Company experienced a change in control.   World Equity Markets acted in the capacity of a broker/dealer for the Purchase Agreements and was issued 125,000 shares of common stock for its services, and Verde Capital was issued 150,000 shares for Consulting Services. Effective April 7, 2021, the Board of Directors accepted the resignation of Daniel T. Meisenheimer, III as Chairman of the Board of Directors and President of the Company. Effective April 7, 2021, Saeb Jannoun was appointed to fill the vacancy following the resignation of Daniel T. Meisenheimer, III as Chairman of the Board of Directors and President of the Company. Mr. Michael Pruitt also joined the Board.   The Company’s Agreement and Plan of Merger (the “Merger Agreement”) with Shurepower, LLC d/b/a Shorepower Technologies under which Shorepower was merged with and into SPEV (the “Merger”) was closed on March 22, 2023.   Under the terms of the Merger Agreement, Jeff Kim, the prior CEO of Shurepower, LLC and the current CEO of the Company, now owns 26,089,758 of the issued and outstanding shares of the Company’s common stock. 11,000,000 shares of common stock was sold under the Pre-Merger Financing that raised $660,000. Mr. Kim has received 2,000,000 shares of a Series B Preferred stock and the right to receive the following additional shares of SPEV common stock upon achieving the following milestones: (i) an additional 2.5% of the issued and outstanding SPEV Common Stock upon the completion of either (a) the conversion of 75 existing connection points to Level 2 or greater or the (b) installation of 75 new connection points to revenue producing stations in the first 12 months or some combination of the two yielding 75 units, (ii) an additional 2.5% of the of the issued and outstanding SPEV Common Stock upon (a) the application for $10M in grants and/or the (b) the award of $1.0 million in grants in the first 18 months; (iii) an additional 2.5% of the issued and outstanding SPEV common stock outstanding upon the completion of acquisitions in the first 24 months generating no less than $3.0 million in gross revenues and (iv) an additional 500,000 shares of SPEV common stock upon acquiring or hiring the following key personnel in the first six months after the effective date of the merger: (a) three or more qualified Board members and (b) at least three of the following four individuals having the following qualifications: one sales/marketing person, one grant writer/Government relations person, one technician/maintenance person and one software programmer/engineer.   We accounted for the Merger transaction as a recapitalization resulting from the acquisition by a non-operating public company that is not a shell company (as defined in Rule 12b-2 under the Securities Exchange Act of 1934). This accounting treatment as a recapitalization is consistent with Commission guidance promulgated in staff speeches and the SEC Reporting Manual, Topic 12 on Reverse Acquisitions and Recapitalizations. As such, the transaction is outside the scope of FASB ASC 805. Specifically, the Merger transaction was treated as a reverse recapitalization in which the entity that issues securities (the legal acquirer) is determined to be the accounting acquiree, while the entity receiving securities (the legal acquiree) is the accounting acquirer.   Under reverse merger accounting (i.e., recapitalization), historical financial statements of Shurepower, LLC (the legal acquiree, accounting acquirer), are presented with one adjustment, which is to retroactively adjust the accounting acquirer’s legal capital to reflect the legal capital of the accounting acquiree. That adjustment is required to reflect the capital of the legal parent (the accounting acquiree). Comparative information presented in the consolidated financial statements also is retroactively adjusted to reflect the legal capital of the legal parent (accounting acquiree).     As a result of the merger transaction the Company reduced its accumulated deficit and increased its additional paid in capital by approximately $5,872,000.   Effective on the date of closing the merger, Saeb Jannoun and Michael D. Pruitt resigned as directors of the Company, and Mr. Jannoun resigned as the CEO. Jeff Kim was appointed as the sole officer and director.   Effective June 20, 2023, the Company’s name was changed to Shorepower Technologies Inc and its ticker symbol to SPEV.   The Company is a transportation electrification infrastructure manufacturer of Electric Vehicle Supply Equipment (EVSE), Truck Stop Electrification (TSE) and electric standby Transport Refrigeration Unit (eTRU) stations. They have 60 operational TSE facilities with over 1,800 individual electrified parking spaces in 31 states. Shorepower’s stations are EPA SmartWay-Verified and CARB-Verified. The Company has headquarters in Hillsboro (Portland Area), Oregon and an office in Detroit, Michigan metro area. Shorepower is a certified minority owned business enterprise (MBE). The Company’s management team is comprised of a group of seasoned individuals with knowledge of technology, transportation and heavy-duty vehicles and nearly two decades working together. Combined, the team has managed over $16 million in government contracts and grant funds to deploy transportation electrification throughout the nation.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Aug. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   Unaudited Interim Financial Information   The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended February 28, 2023, have been omitted. The condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).   Use of Estimates   The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill.   Inventory   Inventories are stated at the lower of cost or market. Cost is principally determined using the last-in, first-out (LIFO) method. The Company periodically assesses if any of the inventory has become obsolete or if the value has fallen below cost. When this occurs, the Company recognizes an expense for inventory write down. Total inventory at August 31, 2023 and February 28, 2023, was $14,269 and $6,880, respectively.   Revenue Recognition   The Company follows ASC 606, Revenue from Contracts with Customers, the core principle of which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. The Company generated revenues from selling power vending stations (charging stations). The Company considers its performance obligations satisfied upon shipment and/or delivery of the purchased products to the customer. The Company evaluates returns from customers purchasing product on a case-by-case basis and generally will issue replacement product in the limited cases of product returns. The Company has no policy requiring cash refunds.     Cost of Revenue   Cost of revenues includes actual product cost, labor, if any, utilities and direct overheard, which is applied on a per unit basis.   Accounts Receivable   Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value when needed. As of August 31, 2023, management has determined that an allowance for doubtful accounts is not required as all amounts are considered to be collectible.   Recently Issued Accounting Pronouncements   The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

GOING CONCERN	6 Months Ended
	Aug. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 3 – GOING CONCERN   The accompanying unaudited financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. As shown in the accompanying financial statements, the Company has an accumulated deficit of $2,346,157, with minimal revenue generated. Due to these conditions, it raises substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that may result should the Company be unable to continue as a going concern.

LOAN PAYABLE	6 Months Ended
	Aug. 31, 2023
Debt Disclosure [Abstract]
LOAN PAYABLE	NOTE 4 – LOAN PAYABLE   As of August 31, 2023 and February 28, 2023, the Company has a loan payable to a third party of $111,395 and $111,395, respectively. The loan is non-interest bearing and due on demand.

RELATED PARTY TRANSACTIONS	6 Months Ended
	Aug. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS   On February 15, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $200,000 for funds loaned to the Company on February 15, 2022. The note matures in twenty years and accrues interest at 6.58% per annum. The Company began monthly payments of $1,500 on April 1, 2022. As of August 31, 2023 and February 28, 2023, the balance due on this note is $144,444 and $185,000, respectively.   On March 1, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $253,954. The amount of the note is the balance due to Mr. Kim for loans to the Company beginning in 2017. The note matures in ten years and accrues interest at 6.63% per annum beginning April 1, 2023. The Company is to begin monthly payments of principal and interest of $2,900 on April 1, 2023, or within one year without penalty. As of August 31, 2023, there is $246,054 and $7,013 of principal and interest due on this note, respectively.     On December 31, 2022, the Company issued a Promissory Note to Jeff Kim, in the amount of $1,237,600. The amount of the note is the balance due to Mr. Kim for accrued compensation. The note matures in ten years and accrues interest at 6.42% per annum beginning April 1, 2023. The Company is to begin monthly payments principal and interest of $14,000 on April 1, 2023, or within one year without penalty. On December 31, 2022, Mr. Kim forgave $400,000 of the principal amount of the note. As of August 31, 2023, there is $837,600 and $22,544 of principal and interest due on this note, respectively.   On March 22, 2023, the Company entered into an executive employment agreement with its executive officer, Jeff Kim. Under the terms of his employment agreement, Mr. Kim’s annual base salary is $200,000 but payment of such salary is subject to the cash flow of the Company as determined by the Board and agreed to by Mr. Kim and any payment cannot exceed $10,000 per month for the nine months from the date of the employment agreement. Additionally, a $2,000 monthly loan payment will be made as part of the merger agreement. Mr. Kim may elect to defer his salary and receive repayment of his current outstanding loans to the Company, not to exceed $10,000 per month, for nine months from the date of his employment agreement. Mr. Kim is still entitled to defer his $10,000 monthly salary, when loan payments made. As of August 31, 2023 and February 28, 2023, there is $80,000 and $20,000, of accrued compensation due to Mr. Kim.

COMMON STOCK	6 Months Ended
	Aug. 31, 2023
Equity [Abstract]
COMMON STOCK	NOTE 6 – COMMON STOCK   On February 17, 2023, the Company sold 11,000,000 shares of common stock through the purchase of units at a price of $0.06 per unit, each unit consisting of one share of its common stock and one warrant to purchase shares of its common stock, for total proceeds of $660,000. Funds held at escrow after deducting legal and investor relation expenses was $553,000 as of February 28, 2023. The funds held in escrow were transferred to the Company in March 2023.   On August 30, 2023, the Company granted 1,043,572 shares of common stock for investor relation services. The shares were valued at $0.19, the closing price on the date of grant, for total non-cash expense of $198,279.

PREFERRED STOCK	6 Months Ended
	Aug. 31, 2023
Equity [Abstract]
PREFERRED STOCK	NOTE 7 – PREFERRED STOCK   On May 18, 2021, the Company increased its authorized shares of Preferred Stock from 2,000,000 to 10,000,000 shares.   There are 1,105,644 shares designated as Series A preferred stock (“Series A”). Each share of the Series A has five votes, is entitled to a 2% cumulative annual dividend, and is convertible at any time into shares of common stock. On February 28, 2022, EROP converted its 1,105,644 shares of Series A Preferred stock into 1,699,146 shares of common stock. As a result of the conversion, the Company recognized interest expense of $1,699,146. The conversion was not processed by the transfer agent until March 4, 2022, therefore, although the expense was recognized as of February 28, 2022, the conversion was not reflected in the shares outstanding.   As of August 31, 2023, there were no shares of Series A issued and outstanding.   As part of the merger, the Company designated 2,000,000 of its 10,000,000 shares of authorized preferred stock as Series B preferred. Each Series B preferred share has voting power of 40 shares of the Company’s common stock. The Series B preferred has no conversion feature.   As of August 31, 2023, there are 2,000,000 shares of Series B issued and outstanding.

WARRANTS	6 Months Ended
	Aug. 31, 2023
Warrants
WARRANTS	NOTE 8 – WARRANTS   On February 17, 2023, the Company sold 11,000,000 shares of common stock through the purchase of units at a price of $0.06 per unit, each unit consisting of one share of common stock and one warrant to purchase common stock, for total proceeds of $660,000. The Warrants are exercisable for shares of the Company’s common stock at a price of $0.25 per share and expire two years from the date of issuance. The warrants are callable by the Company if its common stock trades at $0.75 for at least 20 trading days and at a volume of not less than 30,000 shares per day. Using the fair value calculation, the relative fair value for the warrants was calculated to determine the warrants recorded equity amount of $524,737, which has been accounted for in additional paid in capital.     In accordance to ASC 815-40, an equity-linked financial instrument can be classified in equity only if it (1) is indexed to the reporting entity’s own stock and (2) meets all other conditions for equity classification. The warrants are classified as equity instruments because a fixed amount of cash is exchanged for a fixed amount of equity.   The fair value of the warrants was determined using the Black-Scholes option pricing model which requires the input of subjective assumptions, the expected life of the warrants, and the expected stock price volatility. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards.   The assumptions used to determine the fair value of the Warrants as follows:    SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS     Year Ended February 28, 2023   Expected life (years)     2   Risk-free interest rate     4.78 % Expected volatility     224.92 % Dividend yield     0 %   The expected life of the warrants was estimated using the “simplified method,” as the Company has no historical information to develop reasonable expectations about future exercise patterns for its warrant grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. The expected life of awards that vest immediately use the contractual maturity since they are vested when issued.   For stock price volatility, the Company calculated its expected volatility based on the historical closing price of its common stock, par value $0.01 per share. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the warrant at the grant-date.   SCHEDULE OF WARRANT ACTIVITY     Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contract Term     Intrinsic Value   Outstanding, February 28, 2023     11,000,000     $ 0.25       2           Issued     —     $ —       —           Cancelled     —     $ —       —           Exercised     —     $ —       —           Outstanding, August 31, 2023     11,000,000     $ 0.25       1.47     $ 660,000

SUBSEQUENT EVENTS	6 Months Ended
	Aug. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 – SUBSEQUENT EVENTS   In accordance with ASC 855-10 the Company has analyzed its operations subsequent to August 31, 2023, and to the date these unaudited financial statements were issued and has determined that it does not have any subsequent events to disclose in these unaudited financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Aug. 31, 2023
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information   The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission (“SEC”), and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s latest Annual Report on Form 10-K filed with the SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of operations for the full year. Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year, as reported in the Form 10-K for the fiscal year ended February 28, 2023, have been omitted. The condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”).
Use of Estimates	Use of Estimates   The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill.
Inventory	Inventory   Inventories are stated at the lower of cost or market. Cost is principally determined using the last-in, first-out (LIFO) method. The Company periodically assesses if any of the inventory has become obsolete or if the value has fallen below cost. When this occurs, the Company recognizes an expense for inventory write down. Total inventory at August 31, 2023 and February 28, 2023, was $14,269 and $6,880, respectively.
Revenue Recognition	Revenue Recognition   The Company follows ASC 606, Revenue from Contracts with Customers, the core principle of which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. To achieve this core principle, five basic criteria must be met before revenue can be recognized: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to performance obligations in the contract; and (5) recognize revenue when or as the Company satisfies a performance obligation. The Company generated revenues from selling power vending stations (charging stations). The Company considers its performance obligations satisfied upon shipment and/or delivery of the purchased products to the customer. The Company evaluates returns from customers purchasing product on a case-by-case basis and generally will issue replacement product in the limited cases of product returns. The Company has no policy requiring cash refunds.
Cost of Revenue	Cost of Revenue   Cost of revenues includes actual product cost, labor, if any, utilities and direct overheard, which is applied on a per unit basis.
Accounts Receivable	Accounts Receivable   Revenues that have been recognized but not yet received are recorded as accounts receivable. Losses on receivables will be recognized when it is more likely than not that a receivable will not be collected. An allowance for estimated uncollectible amounts will be recognized to reduce the amount of receivables to its net realizable value when needed. As of August 31, 2023, management has determined that an allowance for doubtful accounts is not required as all amounts are considered to be collectible.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements   The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

WARRANTS (Tables)	6 Months Ended
	Aug. 31, 2023
Warrants
SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS	The assumptions used to determine the fair value of the Warrants as follows:    SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS     Year Ended February 28, 2023   Expected life (years)     2   Risk-free interest rate     4.78 % Expected volatility     224.92 % Dividend yield     0 %
SCHEDULE OF WARRANT ACTIVITY	SCHEDULE OF WARRANT ACTIVITY     Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contract Term     Intrinsic Value   Outstanding, February 28, 2023     11,000,000     $ 0.25       2           Issued     —     $ —       —           Cancelled     —     $ —       —           Exercised     —     $ —       —           Outstanding, August 31, 2023     11,000,000     $ 0.25       1.47     $ 660,000

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)				3 Months Ended	6 Months Ended
	Aug. 30, 2023 $ / shares shares	Feb. 17, 2023 USD ($) shares	Apr. 07, 2021 $ / shares shares	Aug. 31, 2023 USD ($) shares	Aug. 31, 2023 USD ($) Facility Item State shares
Share price | $ / shares	$ 0.19
Number of shares issued for services	1,043,572
Sale of stock number of shares issued in transaction		11,000,000
Proceeds from issuance of common stock | $		$ 660,000
Increase in additional paid in capital | $					$ 5,872,000
Government Grants | $				$ 16,000,000	$ 16,000,000
Shorepower [Member]
Number of operational TSE facilities | Facility					60
Number of individual electrified parking spaces | Item					1,800
Number of states in which operational TSE facilities located | State					31
Chief Executive Officer [Member]
Milestones description					(i) an additional 2.5% of the issued and outstanding SPEV Common Stock upon the completion of either (a) the conversion of 75 existing connection points to Level 2 or greater or the (b) installation of 75 new connection points to revenue producing stations in the first 12 months or some combination of the two yielding 75 units, (ii) an additional 2.5% of the of the issued and outstanding SPEV Common Stock upon (a) the application for $10M in grants and/or the (b) the award of $1.0 million in grants in the first 18 months; (iii) an additional 2.5% of the issued and outstanding SPEV common stock outstanding upon the completion of acquisitions in the first 24 months generating no less than $3.0 million in gross revenues and (iv) an additional 500,000 shares of SPEV common stock upon acquiring or hiring the following key personnel in the first six months after the effective date of the merger: (a) three or more qualified Board members and (b) at least three of the following four individuals having the following qualifications: one sales/marketing person, one grant writer/Government relations person, one technician/maintenance person and one software programmer/engineer
Series B Preferred Stock [Member] | Chief Executive Officer [Member]
Stock issued during period shares acquisitions, shares					2,000,000
Stock Purchase Agreements [Member] | World Equity Markets [Member]
Number of shares issued for services			125,000
Stock Purchase Agreements [Member] | Verde Capital [Member]
Number of shares issued for services			150,000
Stock Purchase Agreements [Member] | Erop Enterprises Llc [Member] | Series A Preferred Stock [Member]
Number of shares issued			1,105,644
Share price | $ / shares			$ 0.057
Common Stock [Member]
Number of shares issued for services				1,043,572
Common Stock [Member] | Chief Executive Officer [Member]
Number of shares issued for services					26,089,758
Sale of stock number of shares issued in transaction					11,000,000
Proceeds from issuance of common stock | $					$ 660,000
Common Stock [Member] | Stock Purchase Agreements [Member]
Number of shares issued			2,704,007

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Accounting Policies [Abstract]
Inventory	$ 14,269	$ 6,880

GOING CONCERN (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 2,346,157	$ 1,918,702

LOAN PAYABLE (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Third Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Loan payable	$ 111,395	$ 111,395

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)						6 Months Ended
	Apr. 01, 2023	Mar. 22, 2023	Dec. 31, 2022	Apr. 01, 2022	Feb. 15, 2022	Aug. 31, 2023	Aug. 31, 2022	Feb. 28, 2023	Mar. 01, 2022
Related Party Transaction [Line Items]
Repayment for related party						$ 61,400	$ 7,500
Jeff Kim [Member] | Executive Employment Agreement [Member]
Related Party Transaction [Line Items]
Monthly loan payment		$ 2,000
Due to related party		200,000
Repayment for related party		10,000
Related party payment threshold		10,000
Monthly salary		$ 10,000
Accrued compensation						80,000		$ 20,000
Promissory Note One [Member] | Jeff Kim [Member]
Related Party Transaction [Line Items]
Promissory note issued					$ 200,000
Promissory note term					20 years
Interest rate					6.58%
Monthly loan payment				$ 1,500
Promissory note balance						144,444		$ 185,000
Promissory Note Two [Member] | Jeff Kim [Member]
Related Party Transaction [Line Items]
Promissory note issued									$ 253,954
Interest rate									6.63%
Monthly loan payment	$ 2,900
Promissory note balance						246,054
Promissory note interest						7,013
Promissory Note Three [Member] | Jeff Kim [Member]
Related Party Transaction [Line Items]
Promissory note issued			$ 1,237,600
Interest rate			6.42%
Monthly loan payment	$ 14,000
Promissory note balance						837,600
Promissory note interest						$ 22,544
Promissory note forgiveness			$ 400,000

COMMON STOCK (Details Narrative) - USD ($)				3 Months Ended
	Aug. 30, 2023	Feb. 28, 2023	Feb. 17, 2023	Aug. 31, 2023
Equity [Abstract]
Sale of stock number of shares issued in transaction			11,000,000
Sale of stock, price per share			$ 0.06
Proceeds from issuance of common stock			$ 660,000
Legal and investor expenses		$ 553,000
Stock issued for investor related services, shares	1,043,572
Share price	$ 0.19
Stock issued for investor related services	$ 198,279			$ 198,279

PREFERRED STOCK (Details Narrative) - USD ($)		6 Months Ended
	Feb. 28, 2022	Aug. 31, 2023	Feb. 28, 2023	May 18, 2021	May 17, 2021
Class of Stock [Line Items]
Preferred stock, shares authorized		6,894,356	6,894,356	10,000,000	2,000,000
Interest expense		$ 1,699,146
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Common Stock [Member]
Class of Stock [Line Items]
Converted shares of common stock	1,699,146
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		1,105,644	1,105,644
Preferred stock dividend rate		2.00%
Preferred stock, conversion basis, description		convertible at any time into shares of common stock
Converted shares	1,105,644
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		2,000,000	2,000,000
Preferred stock, conversion basis, description		The Series B preferred has no conversion feature
Preferred stock, shares issued		2,000,000	2,000,000
Preferred stock, shares outstanding		2,000,000	2,000,000
Preferred stock, voting rights		Each Series B preferred share has voting power of 40 shares of the Company’s common stock
Series B Preferred Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized		10,000,000

SCHEDULE OF WARRANT OF FAIR VALUE ASSUMPTIONS (Details) - Warrant [Member]	12 Months Ended
	Feb. 28, 2023
Expected life (years)	2 years
Risk-free interest rate	4.78%
Expected volatility	224.92%
Dividend yield	0.00%

SCHEDULE OF WARRANT ACTIVITY (Details) - Warrant [Member] - USD ($)	6 Months Ended	12 Months Ended
	Aug. 31, 2023	Feb. 28, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of warrants, Outstanding and exercisable, Beginning balance	11,000,000
Weighted Average Exercise Price Per Share, Outstanding and exercisable, Beginning balance	$ 0.25
Weighted average non remaining contractual life, warrants outstanding	1 year 5 months 19 days	2 years
Warrants granted, shares
Warrants granted weighted average exercise price
Warrants canceled, shares
Warrants canceled weighted average exercise price
Warrants exercised, shares
Warrants exercised, weighted average exercise price
Number of warrants, Outstanding and exercisable, Ending balance	11,000,000	11,000,000
Weighted Average Exercise Price Per Share, Outstanding and exercisable, Ending balance	$ 0.25	$ 0.25
Intrinsic value ending	$ 660,000

WARRANTS (Details Narrative) - USD ($)	Feb. 17, 2023	Aug. 31, 2023	Feb. 28, 2023
Warrants
Sale of stock number of shares issued in transaction	11,000,000
Sale of stock, price per share	$ 0.06
Proceeds from issuance of common stock	$ 660,000
Warrant exercise price	$ 0.25
Warrant revenue recognized description	The warrants are callable by the Company if its common stock trades at $0.75 for at least 20 trading days and at a volume of not less than 30,000 shares per day
Fair value adjustment of warrants	$ 524,737
Common stock par value		$ 0.01	$ 0.01

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