USBL United States Basketball League Inc. featured news, full reports, and detailed charts
United States Basketball League Inc. (USBL/USBL.OB) Wrap Up:
United States Basketball League, Inc., together with its subsidiary, Meisenheimer Capital Real Estate Holdings, Inc., engages in developing, managing, and franchising a professional basketball league in the United States. The company was founded in 1984 and is based in Milford, Connecticut. United States Basketball League, Inc. is a subsidiary of Meisenheimer Capital, Inc.www.usbl.com
3 Employees
Founded in 1984
United States Basketball League Inc. (USBL:OTC Bulletin Board Market)
LAST $0.40 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of November 4, 2009 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of United States Basketball League Inc. (USBL)
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OPEN
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PREVIOUS CLOSE
$0.40
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
06/23/09 - $0.90
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52 WEEK LOW
09/17/09 - $0.30
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MARKET CAP
1.4M
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AVERAGE VOLUME 3 mo
0.0
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DILUTED EPS TTM
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SHARES OUTSTANDING
3.5M
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USBL Does Not Pay Dividends
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P/E TTM
NM
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USBL Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for United States Basketball League Inc. (USBL)
United States Basketball League Inc. Auditor Raises 'Going Concern' Doubt
06/15/2009
United States Basketball League Inc. filed its 10-K on June 15, 2009 for the period ending February 28, 2009. In this report its auditor, Michael T. Studer CPA P.C., gave an unqualified opinion expressing doubt that the company can continue as a going concern.
United States Basketball League Inc. announced delayed annual 10-K filing
05/27/2009
On 05/27/2009, United States Basketball League Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.
USBL Mulls Raising Capital
07/21/2008
United States Basketball League Inc. (USBL), in a filing with the United States Securities And Exchange Commission, has said that the company intends to raise additional capital. The company in its filing, said: “The Company is making efforts to raise equity capital, revitalize the league and market new franchises. However, there can be no assurance that the company will be successful in accomplishing its objectives. Because of the uncertainties surrounding the ability of the company to continue its operations, there is substantial doubt about the company’s ability to continue as a going concern. The company's ability to generate cash flow from franchise royalty fees is dependent on scheduling of a 2009 season and the financial stability of the individual franchises constituting the League. Each franchise is confronted with meeting its own fixed costs and expenses, which are primarily paid from revenues generated from attendance. Experience has shown that USBL is generally the last creditor to be paid by the franchise. If attendance has been poor, USBL has from time to time only received partial payment and, in some cases, no payments at all. The company estimates that it requires approximately $300,000 of working capital to sustain operations over a 12-month period. Accordingly, if the company is unable to generate additional sales of franchises and schedule a 2009 season within the next 12 months it will again have to rely on affiliates for loans and revenues to assist it in meeting its current obligations. With respect to long term needs, the company recognizes that in order for the League and USBL to be successful, USBL has to develop a meaningful sales and promotional program. This will require an investment of additional capital. Given the company's current financial condition, the ability of the company to raise additional capital other than from affiliates is questionable. At the current time the company has no definitive plan as to how to raise additional capital.”
USBL Competitors
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Industry Analysis
| Valuation | USBL | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | 21.8x |
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| Price/Book | NM | Not Meaningful |
| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | NM | Not Meaningful |
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USBL |
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More Recent News About United States Basketball League Inc.
More news for USBL
UNITED STATES BASKETBALL LEAGUE INC Financials
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UNITED STATES BASKETBALL LEAGUE INC Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. OVERVIEW It is anticipated that the Company will continue to rely on financial assistance from affiliates. The Meisenheimer family is fully committed to making the Company a profitable operation and also making the United States Basketball League (the "League") a viable one. Given the current lack of capital, the Company has not been able to develop any new programs to revitalize the League, nor has it been able to hire additional sales and promotional personnel. As a result, the Company is currently dependent on the efforts of Daniel T. Meisenheimer, III and two other employees for all marketing efforts. Their efforts have not resulted in any substantial increase in the number of franchises. The NBA has established a developmental basketball league known as the National Basketball Developmental League ("NBDL"). The Company believes that the establishment of this league, consisting of eight teams, will have no effect on the Company's season, since the NBDL season as presently constituted runs from November through March. Further, nothing prohibits a NBDL player from playing in the League. Accordingly, and as of the present time, the Company does not perceive the NBDL as a competitor. However, with the establishment of the NBDL, it is unlikely that, at least for the present time, the Company can develop any meaningful relationship with the NBA. THREE MONTHS ENDED AUGUST 31, 2009 AS COMPARED TO AUGUST 31, 2008 Franchise fees revenues decreased $10,000 from $10,000 in 2008 to $0 in 2009. This decrease was due to the cancellation of the 2008 and 2009 seasons. Operating expenses decreased $10,111 from $76,228 in 2008 to $66,117 in 2009 primarily due to decreases in consulting fees and travel and promotion expenses. Net loss increased $42,762 from $50,394 in 2008 to $93,156 in 2009, primarily as a result of poorer inves...Click here to read the whole Article (external link)
UNITED STATES BASKETBALL LEAGUE INC Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION. OVERVIEW It is anticipated that the Company will continue to rely on financial assistance from affiliates. The Meisenheimer family is fully committed to making the Company a profitable operation and also making the League a viable one. Given the current lack of capital, the Company has not been able to develop any new programs to revitalize the League, nor has it been able to hire additional sales and promotional personnel. As a result, the Company is currently dependent on the efforts of Daniel T. Meisenheimer, III and two other employees for all marketing efforts. Their efforts have not resulted in any substantial increase in the number of franchises. The NBA has established a developmental basketball league known as the National Basketball Developmental League ("NBDL"). The Company believes that the establishment of this league, consisting of eight teams, will have no effect on the Company's season, since the NBDL season as presently constituted runs from November through March. Further, nothing prohibits a NBDL player from playing in the USBL. Accordingly, and as of the present time, the Company does not perceive the NBDL as a competitor. However, with the establishment of the NBDL, it is unlikely that, at least for the present time, the Company can develop any meaningful relationship with the NBA. THREE MONTHS ENDED MAY 31, 2009 AS COMPARED TO MAY 31, 2008 Revenues decreased to $4,000 for the first quarter of 2009 from $21,000 in the first quarter of 2008. $0 and $21,000 of the 2009 and 2008 first quarter revenues, respectively, were derived from related parties. Operating expenses decreased from $57,705 for the three months ended May 31, 2008 to $40,178 for the three months ended May 31, 2009. The decrease in operating expenses was primarily due to lower travel and promotion and other expenses, primarily as a result of the cancellation of the 2008 and 2009 seasons. Inte...Click here to read the whole Article (external link)
UNITED STATES BASKETBALL LEAGUE INC Files SEC form 10-K, Annual Report
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation. Overview It is anticipated that the Company will continue to operate at a loss for the next twelve months. The Company anticipates continued reliance on financial assistance from affiliates. The Meisenheimer family is fully committed to making the Company a profitable operation and also making the League a viable one. Given the current lack of capital, the Company has not been able to develop any new programs to revitalize the League, nor has it been able to hire additional sales and promotional personnel. As a result, the Company is currently dependent on the efforts of Daniel Meisenheimer, III and two other employees for all marketing efforts. Their efforts have not resulted in any substantial increase in the number of franchises. The NBA has established a developmental basketball league known as the National Basketball Development League ("NBDL"). The Company believes that the establishment of this league, consisting of eight teams, will have no effect on the Company's season, since the NBDL season as presently constituted runs from November through March. Further, nothing prohibits an NBDL player from playing in the USBL. Accordingly, and as of the present time, the Company does not perceive the NBDL as a competitor. However, with the establishment of the NBDL it is unlikely that at least for the present time the Company can develop any meaningful working relationship with the NBA. CRITICAL ACCOUNTING POLICIES Revenue Recognition The Company generally uses the accrual method of accounting. However, due to the uncertainty of collecting royalty and franchise fees from the franchisees, the USBL records these revenues upon receipt of cash consideration paid or the performance of related services by the franchisee. Franchise fees earned in nonmonetary transactions are recorded at the fair value of the franchise granted or the service rec...Click here to read the whole Article (external link)
UNITED STATES BASKETBALL LEAGUE INC Files SEC form 10-Q, Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION. OVERVIEW It is anticipated that the Company will continue to rely on financial assistance from affiliates. The Meisenheimer family is fully committed to making the Company a profitable operation and also making the League a viable one. Given the current lack of capital, the Company has not been able to develop any new programs to revitalize the League, nor has it been able to hire additional sales and promotional personnel. As a result, the Company is currently dependent on the efforts of Daniel T. Meisenheimer, III and two other employees for all marketing efforts. Their efforts have not resulted in any substantial increase in the number of franchises. The NBA has established a developmental basketball league known as the National Basketball Developmental League ("NBDL"). The Company believes that the establishment of this league, consisting of eight teams, will have no effect on the Company's season, since the NBDL season as presently constituted runs from November through March. Further, nothing prohibits a NBDL player from playing in the USBL. Accordingly, and as of the present time, the Company does not perceive the NBDL as a competitor. However, with the establishment of the NBDL, it is unlikely that, at least for the present time, the Company can develop any meaningful relationship with the NBA. THREE MONTHS ENDED NOVEMBER 30, 2008 AS COMPARED TO NOVEMBER 30, 2007 Revenues decreased $16,575 from $16,575 in 2007 to $0 in 2008. In 2007, the Company had $16,500 in rental revenues from the MCREH property. Operating expenses increased $13,819 from $47,988 in 2007 to $61,807 in 2008 primarily due to an increase in professional fees. Net loss increased $86,594 from $40,986 in 2007 to $127,580 in 2008, primarily due to $16,575 lower revenues, $13,819 higher operating expenses, and a $56,255 loss from marketable equity securities in 2008. ...Click here to read the whole Article (external link)
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