UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549



FORM 10-K



[X] Annual Report Under
Section 13 or 15(d) of The Securities Exchange Act of 1934

For the fiscal year ended February 28, 2019

or



[ ] Transitional Report
Under Section 13 or 15(d) of The Securities Exchange Act of 1934

For the transition period from _________ to _________



Commission File Number 001-15913



UNITED STATES BASKETBALL LEAGUE, 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.)
|183 Plains Road, Suite 2, Milford, Connecticut | 06461              
|(Address of principal executive offices)       | (Zip Code)         







Issuer's telephone number, including area code (203) 877-9508

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

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



Common Stock - $.01 par value



Indicate by check mark if the registrant
is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yeso
Nox

Indicate by check mark if the registrant
is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yeso Nox

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 [ X ] No [ ]



Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted
pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required
to submit and post such files). Yes [x] Noo



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



|Large accelerated filero                                | Accelerated filero        
|------------------------------------------------------- | --------------------------
|Non-accelerated filero
        Emerging Growth Companyo | Smaller reporting companyx





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 Act). Yes [ X ] No [ ]



State the aggregate market value of the
voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last
sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently
completed second fiscal quarter. Approximate $178,000 as of August 31th, 2018.

Indicate the number of shares outstanding
of each of the registrant’s classes of common stock, as of the latest practicable date: 3,512,527 shares of common stock
as of August 23rd, 2019.



Documents Incorporated By Reference: None.






Table of Contents






Forward Looking Statements



When used in this report,
the words “may”, “will”, “expect”, “anticipate”, “estimate” and “intend”
and similar expressions are intended to identify forward looking statement within the meaning of Section 21E of the Securities
Exchange Act of 1934 regarding events, conditions, and financial trends that may affect our future plan of operations, business
strategy, operating results and financial position. Prospective investors are forewarned and cautioned that any forward looking
statements are not guarantees of future performance and are subject to risks and uncertainties and that actual results may differ
materially from those included within any such forward looking statements.





| | Item 1. | Business.
| | ------- | ---------



a)       History



United States Basketball
League (“USBL”, “we” or the “Company”) was incorporated in Delaware in May, 1984 as a wholly-owned
subsidiary of Meisenheimer Capital, Inc. (“MCI”). MCI is a publicly owned company having made a registered public offering
of its common stock in 1984. Since 1984, MCI has been under the control of the Meisenheimer family. Members of the Meisenheimer
family also have a controlling interest in Spectrum Associates, Inc. (“Spectrum”), a company engaged in the manufacture
of helicopter parts. From time to time, Spectrum has loaned money to us and has engaged in other revenue generating transactions
with us.



b)       Operations



We were incorporated by
MCI for the purpose of developing and managing a professional basketball league, the United States Basketball League (the “League”).
The League was originally conceived to provide a vehicle for college graduates interested in going professional with an opportunity
to improve their skills and to showcase their skills in a professional environment. This approach afforded the players an opportunity
to perhaps be selected by one of the teams comprising the National Basketball Association (“NBA”) and to attend summer
camp sponsored by that team. USBL’s season (April through June of each year) was specifically designed to afford our League
players the chance to participate in the various summer camps run by the teams in the NBA, which summer camps normally start in
August each year. Since 1984 and up to the present time there have been approximately 150 players from our League who also have
been selected to play for teams in the NBA. A sizable number of our players were eventually selected to play in NBA all star games.
Additionally, a total of approximately 75 players were previously selected to play in the Continental Basketball Association (“CBA”)
and the National Basketball Development League (the “NBDL”), the official developmental league of the NBA.



Since the inception of
our League, we have been primarily engaged in selling franchises and managing the League. From 1985 and up to the present time,
we have sold a total of approximately 40 active franchises (teams), a vast majority of which were terminated for non- payment of
their respective franchise obligations. All seasons since 2008 have been canceled. At the present time we do not have any definitive
plans as to the scheduling of a new season.



We are currently in the
process of exploring certain strategic alternatives, including the possible sale of the League.



2


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c)       
Employees



We currently have one part-time
employee. This employee is currently engaged primarily to respond to inquiries for information from potential strategic parties.



| | Item 1A. | Risk Factors.
| | -------- | -------------



Prospective investors as
well as shareholders should be aware that an investment in USBL involves a high degree of risk. Accordingly, you are urged to carefully
consider the following Risk Factors as well as all of the other information contained in this Annual Report and the information
contained in the Financial Statements and the notes thereto.



Our Operating History Does Not Reflect Profitable
Operations



Our operating history does
not reflect a history of profitable operations. Since our inception we have been attempting to develop the League. Our operations
have not been profitable and unless and until we can increase the sale of franchises, schedule a season, and at the same time attract
franchisees who are able or willing to incur start-up costs to develop their respective franchises, we may continue to operate
at a loss. There can be no assurance that we will be successful.



We May Not Be Able to Continue as a Going
Concern



Because of our historically
poor revenues and earnings, our auditors have for at least the last five years included in their unqualified opinions an emphasis
paragraph regarding the uncertainty of our ability to continue to operate as a going concern. Shareholders and prospective shareholders
should weigh this factor carefully in considering the merits of our company as an investment vehicle.



We Have Not Been Able to Realize the Full
Sales Value of a Franchise



Generally speaking, we
have not been able to collect what we perceive to be true value for a franchise because of the League's overall weak performance.
As such we have sold franchises for less than we believe the true value to be and additionally have extended terms for payment
as an additional inducement to the franchisees to purchase the franchise. As a result, our revenues have been affected and will
continue to be affected until such time as we are able to realize the full value for franchises.



We Lack Sufficient Capital to Promote the
League



In order for the League
to become successful, we have to promote the League and schedule a season. Historically and up to the present time, we have lacked
sufficient capital to develop a national promotion for the League and have been forced to cancel all seasons since 2008. Promotion
will achieve two objectives: (i) create more fan interest, and (ii) franchise interest. Until such time that we can properly promote
the League we do not anticipate any significant change in the overall fan interest, and consequently no significant change in sales
of franchises or our ability to schedule a season. Attendance has been rather small and is not enough to support a team's operations.
Without real promotional efforts, we do not anticipate any significant increase in franchises.



3


Table of Contents




The Meisenheimer Family Exercises Significant
Control over Us



The Meisenheimer family,
consisting of Daniel T. Meisenheimer III and Richard C. Meisenheimer and entities own approximately 80% of our outstanding common
stock and as such control the daily affairs of the business as well as significant corporate actions. Additionally, the Meisenheimer
family controls the Board of Directors and as such shareholders have little or no influence over the affairs of the Company.



Dependence upon Key Individual



Our success is dependent
upon the activities of Daniel T. Meisenheimer III. The loss of Mr. Meisenheimer through death, disability or resignation would
have a material and adverse effect on our business. Mr. Meisenheimer suffered a stroke a number of years ago and has been unable
to devote any material amount of time to the affairs of the Company.



We Have a Limited Public Market for Our
Stock



There are approximately
700,000 shares held by approximately 300 public shareholders and as such there is a limited public market for our stock. As such,
holders of our stock may have difficulty in selling their shares.



Penny Stock Regulation



Broker-dealer practices
in connection with transactions in “penny stocks” are regulated by certain penny stock rules adopted by the SEC. Penny
stocks generally are equity securities with a price of less than $5.00 (other than securities registered on certain national securities
exchanges or quoted on the NASDAQ System). The penny stock rules require a broker-dealer, prior to a transaction in a penny stock
not otherwise exempt from the rules, to deliver a standardized risk disclosure document that provides information regarding penny
stocks and the nature and level of risks in the penny stock market. The broker-dealer also must provide the customer with current
bid and offer quotations for the penny stock, the compensation of the broker-dealer and its salesperson must disclose this fact
and the broker-dealer’s presumed control over the market, and monthly account statements showing the market value of each
penny stock held in the customer’s account. In addition, broker-dealers, who sell such securities to persons other than established
customers and accredited investors, must make a special written determination that the penny stock is a suitable investment for
the purchaser and receive the purchaser's written agreement to the transaction. Consequently, these requirements may have the effect
of reducing the level of activity, if any, in the market for our common stock.



| | Item 1B. | Unresolved Staff Comments.
| | -------- | --------------------------



None



Item 2.	Properties



The Company currently leases
general office space located at 183 Plains Road, Suite 2, Milford, Connecticut from Genvest, LLC (related party).





Item 3.	Legal Proceedings.



Not applicable.





Item 4.	Mine Safety Disclosures.



Not applicable.









4


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Part II



| | Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases
of Equity Securities.
| | ------- | -------------------------------------------------------------------------------------------------------------



(a)       Our
Common Stock is quoted on the OTC Markets under the symbol “USBL”. The following is the range of high and low closing
prices for the Common Stock for each quarter for the Company’s fiscal years ended February 28, 2019 and February 28, 2018.



|                             | Fiscal 2019  
|---------------------------- | -------------
|                             | Closing Price
|                             |              
|                             | High         
|First Quarter Ended 5/31/18  | $0.17        
|Second Quarter Ended 8/31/18 | $0.25        
|Third Quarter Ended 11/30/18 | $0.20        
|Fourth Quarter Ended 2/28/19 | $0.15        
|                             | Fiscal 2018  
|                             | Closing Price
|                             |              
|                             | High         
|First Quarter Ended 5/31/17  | $0.35        
|Second Quarter Ended 8/31/17 | $0.35        
|Third Quarter Ended 11/30/17 | $0.305       
|Fourth Quarter Ended 2/29/18 | $0.30        







The foregoing range of
high-low closing prices represents quotations between dealers without adjustments for retail markups, markdowns or commissions
and may not represent actual transactions. The information has been provided by qualified inter-dealer quotation medium.



Approximately 700,000
shares of our Common Stock are held by nonaffiliates as of August 23rd, 2019. The shares held by members of the public were
issued by us in connection with a private placement over ten years ago and also in connection with an offering in 1995 under
Rule 504 of Regulation D of the Securities Act of 1933. The existing holders of shares issued pursuant to the private
placement would have available to them the exemption provided by Rule 144 and thus would be able to sell all of their shares
if they so elected.



We have not paid any dividends
and do not anticipate paying dividends in the future.



Our Preferred Stock is
held by our officers and directors and affiliates. No member of the public holds any Preferred Stock.



| | Item 6. | Selected Financial Data.
| | ------- | ------------------------



Not applicable.



| | Item 7. | Management's Discussion and Analysis of Financial Condition and Results of Operations.
| | ------- | --------------------------------------------------------------------------------------



5


Table of Contents




Overview



It is anticipated that
the Company will operate at a loss for the next twelve months. The Company anticipates continued reliance on financial assistance
from affiliates. 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 sales and promotional personnel or schedule a season. As a result, the Company is currently
dependent on the efforts of Daniel Meisenheimer, III and one other employee for all marketing efforts. Their efforts have not resulted
in any franchises.



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 recorded these revenues upon receipt of cash consideration paid or the performance of related services by the franchisee.
Franchise fees earned in nonmonetary transactions were recorded at the fair value of the franchise granted or the service received,
based on which value is more readily determinable. Upon the granting of the franchise, the Company had performed essentially all
material conditions related to the sale.



Fiscal Year 2018 Compared To Fiscal Year 2017



For the years ended February
28, 2019 ("Fiscal 2019") and February 28, 2018 (“Fiscal 2018”), the Company had no franchise fees or advertising
revenues as a result of the cancellation of its seasons since 2008.



Operating expenses increased
$11,418 from $48,965 in Fiscal 2018 to $60,383 in Fiscal 2019. The increase in operating expenses was primarily due to higher professional
fees $(8,302) and higher transfer agent and EDGAR agent fees $(1,686) in 2019 compared to 2018.



Other expenses, net, decreased
$2,768 from $(3,530) in Fiscal 2018 to $(762) in Fiscal 2019.



Net loss increased $8,650
from $(52,495) in Fiscal 2018 to $(61,145) in Fiscal 2019, due primarily to higher operating expenses of $11,418.



Liquidity and Capital Resources



The Company had a working
capital deficit of $2,367,937 at February 28, 2019. The Company's Fiscal 2019 statement of cash flows reflects net cash used in
operating activities of $40,285, which is due primarily to the $61,145 net loss offset by the $19,993 increase in accounts payable
and accrued expenses. Net cash provided by financing activities was $40,250, which is due to the net increase in amounts due to
related parties.



The Company expects it
will again have to rely on affiliates for loans 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 and schedule a 2020 season.



6


Table of Contents




As indicated in the report
of the independent registered public accounting firm, the financial statements referred to above have been prepared for the Company
assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company’s
present financial situation raises substantial doubt about its ability to continue as a going concern. Management’s plans
in regard to this matter are also described in Note 1. The financial statements do not include any adjustments relating to the
recoverability and classification of recorded assets or the amounts or classification of liabilities that might be necessary in
the event the Company cannot continue in existence.



Item 8.	Financial Statements and Supplementary
Data.



See our index to financial
statements in Item 15 and the financial statements and notes that are filed as part of this annual report following the signature
page.



| | Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
| | ------- | -------------------------------------------------------------------------------------



None.



| | Item 9A. | Controls and Procedures.
| | -------- | ------------------------



Based on their evaluation
as of February 28, 2019, our management, with the participation of our President and Chief Financial Officer, being our principal
executive and principal financial officer, respectively, conducted an evaluation of the effectiveness of the design and operation
of our disclosure controls and procedures, as required by Exchange Act Rule 13a-15. Based on that evaluation, the President and
Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of February 28, 2019.



There were no changes in
our internal controls over financial reporting that occurred during the quarter ended February 28, 2019 that have materially affected,
or are reasonably likely to materially affect, our internal control over financial reporting.



Our management is responsible
for establishing and maintaining adequate internal control over financial reporting for the Company in accordance with and as defined
in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control over financial reporting is designed to provide reasonable
assurance regarding the (i) effectiveness and efficiency of operations, (ii) reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted accounting principles, and (iii) compliance
with applicable laws and regulations. Our internal controls framework is based on the criteria set forth in the Internal Control
– Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).



Because of its inherent
limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation
of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.



Management’s assessment
of the effectiveness of the small business issuer’s internal control over financial reporting is as of February 28, 2019.
We believe that internal control over financial reporting is effective. We have not identified any current material weaknesses
considering the nature and extent of our current operations or any risks or errors in financial reporting under current operations.





| | Item 9B. | Other Information.
| | -------- | ------------------



None.



7


Table of Contents




PART III



| | Item 10. | Directors, Executive Officers and Corporate Governance.
| | -------- | -------------------------------------------------------



The following persons served
as our directors and executive officers for the fiscal year ended February 28, 2019. Each director holds office until the next
annual meeting of the stockholders or until his successor has been duly elected and qualified. Each executive officer serves at
the discretion of the Board of Directors of the Company.





|Name                       | Age | Position                            
|-------------------------- | --- | ------------------------------------
|Daniel T. Meisenheimer III | 68  | Chairman of the Board and President 
|Richard C. Meisenheimer    | 65  | Chief Financial Officer and Director







Background of Executive Officers and Directors



Daniel T. Meisenheimer
III (“Mr. Meisenheimer III”) has been Chairman of the Board and President of the Company since its inception in 1984.
Mr. Meisenheimer III has also been the Chairman of the Board and President of MCI, USBL’s parent, since 1983, and Meisenheimer
Capital Real Estate Holdings, Inc. (“MCREH”) a former subsidiary of USBL. Mr. Meisenheimer III is also a shareholder
and director of Synercom, Inc. (“Synercom”), a Meisenheimer family-owned holding company which owns Spectrum Associates,
Inc., a shareholder of USBL and which company has loaned funds to USBL and MCREH.



Richard C. Meisenheimer
(“R. Meisenheimer”), brother of Mr. Meisenheimer III, has acted as Chief Financial Officer and a Director of USBL since
the inception of the business in 1984. R. Meisenheimer has also been associated with Spectrum Associates, Inc. since 1976 and is
now the President of that Company. Spectrum owns 34.1% of USBL Preferred Stock and 6.5% of USBL Common Stock.



The Company does not have
a separate audit committee. The Board of Directors functions as the audit committee. Richard Meisenheimer qualifies as an audit
committee financial expert.



Section 16(a) Beneficial Ownership Reporting
Compliance



Section 16(a) of the Securities
Exchange Act of 1934 requires the Company’s executive officers, directors and persons who own more than ten percent of a
registered class of its equity securities to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the Securities
and Exchange Commission. These persons are required by SEC regulation to furnish the Company with copies of all Forms 3, 4 and
5 they file with the SEC. Based solely upon our review of the copies of the forms the Company has received, we believe that all
such persons complied on a timely basis with all filing requirements applicable to them with respect to transactions during fiscal
2019.



8


Table of Contents




Code of Ethics



The Company has not adopted
a Code of Ethics applicable to its principal executive officer, and principal financial officer. As a small public company with
limited funds and other resources, the Company elected not to incur the time and expense of adopting such a code.



| | Item 11. | Executive Compensation.
| | -------- | -----------------------



The following table sets
forth information with respect to all compensation paid by us to our Chief Executive Officer and our Chief Financial Officer (only
two officers) for the last two fiscal years ended February 28, 2019 and February 28, 2018:





|Name and Principal Position                                                                                                      | Fiscal Year                                                                               | Salary | Fees | All other
        Compensation | Total
|-------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------- | ------ | ---- | ------------------------------ | -----
|                                                                                                                                 |                                                                                           |        |      |                                |      
|Daniel T. Meisenhimer, III
                                                                                CEO
    and President | 2019
                                                                                2018 |        |      |                                |      
|                                                                                                                                 |                                                                                           |        |      |                                |      
|Richard C. Meisenheimer
                                                                                CFO and Vice President   | 2019
                                                                                2018 |        |      |                                |      
|                                                                                                                                 |                                                                                           |        |      |                                |      









For many years our only
two officers, D. Meisenheimer III and R. Meisenheimer, have not received or taken any salaries from USBL. There are no formal employment
agreements with either D. Meisenheimer III and R. Meisenheimer and they have not been paid any salary for the last five years.



9


Table of Contents






| | Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.
| | -------- | -----------------------------------------------------------------------------------------------



We have 30,000,000 shares
of authorized Common Stock, of which 3,552,502 shares are currently issued and 3,512,527 shares are currently outstanding. We also
have 2,000,000 authorized shares of Convertible Preferred Stock, of which 1,105,679 shares are currently issued and outstanding.



The following table sets
forth certain information as of August 23rd, 2019 with respect to the beneficial ownership of both our outstanding Convertible
Preferred Stock (the "Preferred Stock") and Common Stock by (i) any holder of more than five (5%) percent thereof; (ii)
each of our officers and directors and (iii) directors and officers of the Company as a group.





|Name and Address of Beneficial Owner                                                                                                      | Amount and Nature of
        Beneficial Ownership            | Approximate
        Percent of Class
|----------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------ | ------------------------------------
|Daniel T. Meisenheimer III (1)
        c/o The United States Basketball League
        183 Plains Road, Suite 2
        Milford, CT 06461 | 235,360 Preferred Stock (1)
        429,500 Common Stock (1) | 21.3%
        12.2%                 
|                                                                                                                                          |                                                              |                                     
|Richard C. Meisenheimer(2)
        884 Robert Treat Ext.
        Orange, CT 06477                                                         | 233,647 Preferred Stock (2)
        44,500 Common Stock (2)  | 21.1%
        1.3%                  
|                                                                                                                                          |                                                              |                                     
|Meisenheimer Capital Inc.
        183 Plains Road, Suite 2
        Milford, CT 06461                                                      | 140,000 Preferred Stock
        2,096,175 Common Stock       | 12.7%
        59.7%                 
|                                                                                                                                          |                                                              |                                     
|Spectrum Associates, Inc. (3)
        183 Plains Road, Suite 2
        Milford, CT 06461                                                  | 376,673 Preferred Stock
        228,857 Common Stock         | 34.1%
        6.5%                  
|                                                                                                                                          |                                                              |                                     
|All Officers and Directors as a Group (2 persons)                                                                                         | 469,007 Preferred Stock
        474,000 Common Stock         | 42.4%
        13.5%                 





_________________________

* less than 1%



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(1) Includes 20,000 shares of Preferred Stock
and 100,000 shares of Common Stock held by Mr. Meisenheimer III for the benefit of his two children. Includes 91,362 shares of
Preferred Stock and 4,500 shares of Common Stock in the name of Daniel T. Meisenheimer, Jr. who died in September, 1999, bequeathed
his stock to his wife, Mary Ellen Meisenheimer, who died in August, 2008, who bequeathed her stock to her two children Daniel T.
Meisenheimer, III and Richard C. Meisenheimer.



(2) Includes 91,362 shares of Preferred Stock
and 4,500 shares of Common Stock in the name of Daniel T. Meisenheimer, Jr. who died in September, 1999, bequeathed his stock to
his wife, Mary Ellen Meisenheimer, who died in August, 2008, who bequeathed her stock to her two children Daniel T. Meisenheimer,
III and Richard C. Meisenheimer. Richard Meisenheimer, an officer and director of USBL, is also the President of Spectrum Associates,
Inc., which owns both Preferred and Common Stock as set forth herein.



(3) Between the various members of the Meisenheimer
family and their affiliates, Spectrum Associates, Inc. and MCI, the Meisenheimers effectively control 89% of the outstanding Preferred
Stock and 80% of the outstanding Common Stock of USBL. No public shareholders own any Preferred Stock of USBL.



| | Item 13. | Certain Relationships and Related Transactions, Director Independence.
| | -------- | ----------------------------------------------------------------------



a)        Loans



For many years, the principals
of MCI consisting of Daniel Meisenheimer III, Richard Meisenheimer and their affiliated entities have made loans to us. As of February
28, 2019, USBL was indebted to the principals or their affiliated entities in the sum of $2,134,379. Of the foregoing amount, Spectrum
was owed the sum of $1,318,789 and the principals (D. Meisenheimer III and R. Meisenheimer) and their other affiliates were owed
$815,590.



b)       
Dependency on Affiliates



Over the years we have
received a material amount of revenues from affiliated persons or entities.



| | Item 14. | Principal Accountant Fees and Services.
| | -------- | ---------------------------------------



Audit Fees



We were billed $15,000
and $14,500 by Michael T. Studer CPA P.C. (“Mike Studer”) for the years ended February 28, 2019 and February 28, 2018,
respectively, for professional services rendered for the audits of our annual financial statements and reviews of our financial
statements included in our Forms 10-Q and 10-K.



11


Table of Contents




Tax Fees



We have not incurred expenses
or been billed by Mike Studer for the year ended February 28, 2019 or February 28, 2018 for fees for tax compliance, tax advice
or tax planning services.



All Other Fees



There were no other fees
billed to us by Mike Studer for the years ended February 28, 2019 or February 28, 2018.





Pre-Approval Policies



Our Board of Directors
has not adopted any blanket pre-approval policies. Instead, the Board will specifically pre-approve the provision for all audit
or non-audit services.



Our Board of Directors approved all of the services
provided by Mike Studer described in the preceding paragraphs.



12


Table of Contents






PART VI



| | Item 15. | Exhibits and Financial Statement Schedules.
| | -------- | -------------------------------------------



a)       The
following financial statements of United States Basketball League, Inc. are included in this report immediately following the signature
page:

|1.   Financial Statements                                                                                                                                                                                                                                                                                                                                                                                
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|·Balance Sheets
        ·Statements of Operations
        ·Statements of Stockholders' Deficiency
        ·Statements of Cash Flows
        ·Notes to Financial Statements                                                                                                                                                                                                                               
|2. Index to Financial Statement Schedules
        
        Schedules are omitted because they are either
        not required or the required information is provided in the financial statements or notes thereof.
        
        3. Index to Exhibits
        
        The exhibits filed herewith or incorporated
        by reference are set forth on the Exhibit Index below and attached hereto.



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Exhibit

No. 	Description



*3(i)		Certificate of Incorporation (May 29, 1984)



*3(i)a	Amended Certificate of Incorporation (Sept. 4, 1984)



*3(i)b	Amended Certificate of Incorporation (March 5, 1986)



*3(i)c	Amended Certificate of Incorporation (Feb. 19, 1987)



*3(i)d	Amended Certificate of Incorporation (June 30, 1995)



*3(i)e	Amended Certificate of Incorporation (January 12, 1996)



*3(i)f	Certificate of Renewal (June 23, 1995)



*3(i)g	Certificate of Renewal (May 22, 2000)



*3.9	By-Laws of USBL



*3.10	Amended By-Laws



+10.1 	Standard Franchise Agreement of USBL



31.1 	Certification of President (principal executive officer)



31.2	 Certification of Chief Financial Officer (principal financial officer)



32    Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



|101.INS
        101.SCH
        101.CAL
        101.DEF
        101.LAB
        101.PRE | XBRL Instance Document
        XBRL Taxonomy Extension Schema Document
        XBRL Taxonomy Extension Calculation
        Document
        XBRL Taxonomy Extension Definitions
        Document
        XBRL Taxonomy Extension Labels Document
        XBRL Taxonomy Extension Presentations
        Document
|--------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

___________________

*Incorporated by reference to the Company’s Registration
Statement on Form 10-SB, and amendments thereto, filed with the SEC on May 30, 2000.



+Incorporated by reference to the Company’s
Annual Report on Form 10-KSB for the fiscal year ended February 28, 2001.

14


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SIGNATURES



Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.



UNITED STATES BASKETBALL LEAGUE,
INC.



__/s/ Daniel T. Meisenheimer,
III_

Daniel T. Meisenheimer, III

Chairman and President

August 23rd, 2019



Pursuant to the requirements
of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.



__/s/ Daniel T. Meisenheimer,
III_

Daniel T. Meisenheimer, III

Chairman and President

August 23rd, 2019





__/s/ Richard C. Meisenheimer___

Richard C. Meisenheimer

Chief Financial Officer and Director

August 23rd, 2019

















15


Table of Contents


UNITED STATES
BASKETBALL LEAGUE, INC.





CONTENTS



Years
Ended February 28, 2019 and February 28, 2018







|Financial Statements                                    |  |     | Pages | 
|------------------------------------------------------- |  | --- | ----- | 
|Report of Independent Registered Public Accounting Firm |  | F-2 |      
|Balance Sheets                                          |  | F-3 |      
|Statements of Operations                                |  | F-4 |      
|Statements of Stockholders' Deficiency                  |  | F-5 |      
|Statements of Cash Flows                                |  | F-6 |      
|Notes to Financial Statements                           |  | F-7 |      

























F1


Table of Contents




REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM





To the Board of Directors and Stockholders of

United States Basketball League, Inc.



Opinion on the Financial Statements



We have audited the accompanying balance sheets of United States
Basketball League, Inc. (the “Company”) as of February 28, 2019 and 2018 and the related statements of operations,
stockholders’ deficiency, and cash flows for the years then ended, and the related notes (collectively referred to as the
“financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial
position of United States Basketball League, Inc. as of February 28, 2019 and 2018 and the results of its operations and cash flows
for the years then ended in conformity with accounting principles generally accepted in the United States.



Explanatory Paragraph – Going Concern



The accompanying financial statements referred to above have been
prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company’s
present financial situation raises substantial doubt about its ability to continue as a going concern. Management’s plans
in regard to this matter are also described in Note 1. The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.



Basis for Opinion



These financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are
a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and
are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.



We conducted our audit in accordance with the standards of the PCAOB.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal
control over financial reporting. Accordingly, we express no such opinion.



Our audit included performing procedures to assess the risks of
material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those
risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.









/s/ Michael T. Studer CPA P.C.

Michael T. Studer CPA P.C.





Freeport, New York

August 23rd, 2019



We have served as the Company’s auditor since 2005.





F2


Table of Contents








UNITED STATES BASKETBALL LEAGUE, INC.





Balance
Sheet

|February 28, 2019 and February 28, 2018                |  |                                                                                                 |            |                  
|------------------------------------------------------ |  | ----------------------------------------------------------------------------------------------- | ---------- | -----------------
|                                                       |  |                                                                                                 |            |                  
|Assets                                                 |  | February 28,
                                                                              2019 |            | February 28, 2018
|                                                       |  |                                                                                                 |            |                  
|Current Assets:                                        |  |                                                                                                 |            |                  
|Cash                                                   |  | $                                                                                               | 295        |                  
|Total Current Assets                                   |  |                                                                                                 | 295        |                  
|Total Assets                                           |  | $                                                                                               | 295        |                  
|                                                       |  |                                                                                                 |            |                  
|                                                       |  |                                                                                                 |            |                  
|Liabilities and Stockholders' Deficiency               |  |                                                                                                 |            |                  
|                                                       |  |                                                                                                 |            |                  
|Current Liabilities:                                   |  |                                                                                                 |            |                  
|Accounts payable and accrued expenses                  |  | $                                                                                               | 227,638    |                  
|Credit card obligations                                |  |                                                                                                 | 6,215      |                  
|Due to related parties                                 |  |                                                                                                 | 2,134,379  |                  
|Total Current Liabilities                              |  |                                                                                                 | 2,368,232  |                  
|                                                       |  |                                                                                                 |            |                  
|Total Liabilities                                      |  |                                                                                                 | 2,368,232  |                  
|                                                       |  |                                                                                                 |            |                  
|Stockholders' Deficiency:                              |  |                                                                                                 |            |                  
|Common stock, $0.01 par value, 30,000,000 shares       |  |                                                                                                 |            |                  
|authorized; 3,552,502 and 3,552,502 shares issued,     |  |                                                                                                 |            |                  
|respectively                                           |  |                                                                                                 | 35,525     |                  
|Preferred stock, $0.01 par value, 2,000,000 shares     |  |                                                                                                 |            |                  
|authorized; 1,105,679 shares issued and outstanding    |  |                                                                                                 | 11,057     |                  
|Additional paid-in capital                             |  |                                                                                                 | 2,679,855  |                  
|Deficit                                                |  |                                                                                                 | (5,051,920 | )                
|Treasury stock, at cost; 39,975 shares of common stock |  |                                                                                                 | (42,454    | )                
|Total Stockholders' Deficiency                         |  |                                                                                                 | (2,367,937 | )                
|Total Liabilities and Stockholders' Deficiency         |  | $                                                                                               | 295        |                  



See notes to financial statements.







F3


Table of Contents




UNITED STATES BASKETBALL LEAGUE,
INC.





Statements of Operations



|Years Ended February 28, 2019 and February 28, 2018   |  | 2019 |           | 2018
|----------------------------------------------------- |  | ---- | --------- | ----
|                                                      |  |      |           |     
|Revenues                                              |  | $    | —         |     
|                                                      |  |      |           |     
|Operating Expenses:                                   |  |      |           |     
|Professional fees                                     |  |      | 31,042    |     
|Transfer agent and EDGAR agent fees                   |  |      | 16,385    |     
|Rent                                                  |  |      | 12,000    |     
|Other                                                 |  |      | 956       |     
|Total operating expenses                              |  |      | 60,383    |     
|                                                      |  |      |           |     
|Loss from Operations                                  |  |      | (60,383   | )   
|                                                      |  |      |           |     
|Other Income (Expenses):                              |  |      |           |     
|Interest expense                                      |  |      | (762      | )   
|                                                      |  |      |           |     
|Total other income (expenses) - net                   |  |      | (762      | )   
|                                                      |  |      |           |     
|Net loss                                              |  | $    | (61,145   | )   
|                                                      |  |      |           |     
|Earnings (Loss) per Common Share:                     |  |      |           |     
|Basic                                                 |  | $    | (0.02     | )   
|Diluted                                               |  | $    | (0.02     | )   
|                                                      |  |      |           |     
|Weighted Average Number of Common Shares Outstanding: |  |      |           |     
|Basic                                                 |  |      | 3,512,527 |     
|Diluted                                               |  |      | 3,512,527 |     





See notes to financial statements.



F4


Table of Contents




UNITED STATES BASKETBALL LEAGUE, INC.



Statements of Stockholders’ Deficiecy





|Years Ended February 28, 2019 and February 28, 2018 |  |              |           |                 |  |             |        |        | 
|--------------------------------------------------- |  | ------------ | --------- | --------------- |  | ----------- | ------ | ------ | 
|                                                    |  |              |           |                 |  |             |        |        | 
|                                                    |  | Common Stock |           | Preferred Stock |  | Additional  |        |        | 
|                                                    |  | Shares       |           |                 |  | Shares      |        |        | 
|                                                    |  | Issued       |           | Amount          |  | Outstanding |        | Amount | 
|                                                    |  |              |           |                 |  |             |        |        | 
|Balance, February 28, 2017                          |  |              | 3,522,502 |                 |  | $           | 35,525 |        | 
|Net Loss                                            |  |              | —         |                 |  |             | —      |        | 
|Balance, February 28, 2018                          |  |              | 3,552,502 |                 |  |             | 35,525 |        | 
|                                                    |  |              |           |                 |  |             |        |        | 
|Net Loss                                            |  |              | —         |                 |  |             | —      |        | 
|                                                    |  |              |           |                 |  |             |        |        | 
|Balance, February 28, 2019                          |  |              | 3,552,502 |                 |  | $           | 35,525 |        | 



See notes to financial statements.

















F5


Table of Contents




UNITED STATES BASKETBALL LEAGUE,
INC.



Statements of Cash Flows

|Years Ended February 28, 2019 and February 28 ,2018 |  | 2019 |         | 2018
|--------------------------------------------------- |  | ---- | ------- | ----
|                                                    |  |      |         |     
|Cash Flows from Operating Activities:               |  |      |         |     
|                                                    |  |      |         |     
|Net loss                                            |  | $    | (61,145 | )   
|Adjustments to reconcile net loss to net cash       |  |      |         |     
|(used in) operating activities:                     |  |      |         |     
|                                                    |  |      |         |     
|Changes in operating assets and liabilities:        |  |      |         |     
|Accounts payable and accrued expenses               |  |      | 19,992  |     
|Credit card obligations                             |  |      | 868     |     
|                                                    |  |      |         |     
|Net cash used in operating activities               |  |      | (40,285 | )   
|                                                    |  |      |         |     
|Cash Flows from Investing Activities                |  |      | —       |     
|                                                    |  |      |         |     
|Cash Flows from Financing Activities:               |  |      |         |     
|                                                    |  |      |         |     
|Increase in due to related parties                  |  |      | 40,250  |     
|Net cash provided by financing activities           |  |      | 40,250  |     
|                                                    |  |      |         |     
|Net Increase (decrease) in Cash                     |  |      | (35     | )   
|Cash, beginning of year                             |  |      | 330     |     
|Cash, end of year                                   |  | $    | 295     |     
|                                                    |  |      |         |     
|Supplemental disclosures of cash flow information:  |  |      |         |     
|Interest paid                                       |  | $    | 762     |     
|Income tax paid                                     |  | $    | —       |     
|                                                    |  |      |         |     



See notes to financial statements.















F6


Table of Contents








UNITED STATES BASKETBALL LEAGUE, INC.

NOTES TO FINANCIAL STATEMENTS

YEARS ENDED FEBRUARY 28, 2019 AND FEBRUARY
28, 2018



1. Description of Business
and Basis of Presentation



United States Basketball League, Inc.
(“USBL”) 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”).
Since the inception of the League, USBL has primarily engaged in selling franchises and managing the League. From 1985 and up to
the present time, USBL has sold a total of approximately forty active franchises (teams), a vast majority of which were terminated
for non-payment of their respective franchise obligations. Seasons from 2008 through 2018, inclusive, have been cancelled. At the
present time, USBL does not have any definitive plans as to the scheduling of a new season. USBL is currently in the process of
exploring certain strategic alternatives, including the possible sale of the League.



On October 30, 2014, USBL dissolved its
wholly-owned subsidiary, Meisenheimer Capital Real Estate Holdings, Inc. (“MCREH”). MCREH owned a commercial building
in Milford, Connecticut until June 19, 2014.



At February 28, 2019, USBL had negative
working capital of $2,367,937 and accumulated losses of $5,051,920. These factors, as well as the Company’s reliance on related
parties (see notes 3, 4 and 6), raise substantial doubt as to 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 recorded assets or the amounts or
classification of liabilities that might be necessary in the event the Company cannot continue in existence.



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. The financial statements do not
include any adjustments that might be necessary should USBL be unable to continue as a going concern.



2. Summary of Significant
Accounting Policies



Fair value disclosures–The carrying
amounts of the Company’s financial instruments, which consist of cash and cash equivalents, accounts payable and accrued
expenses, credit card obligations, and due to related parties, approximate their fair value due to their short term nature or
based upon values of comparable instruments.



Revenue recognition - The
Company generally uses the accrual method of accounting in these financial statements. However, due to the uncertainty of collecting
royalty and franchise fees from the franchisees, USBL recorded these revenues upon receipt of cash consideration paid or the performance
of related services by the franchisee. Franchise fees earned in nonmonetary transactions were recorded at the fair value of the
franchise granted or the service received, based on which value was more readily determinable. Upon the granting of the franchise,
the Company had performed essentially all material conditions related to the sale.



Income taxes -
Deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets
and liabilities, and are measured using the enacted tax rates and laws that will be in effect when the differences are
expected to reverse. A valuation allowance has been fully provided for the deferred tax asset (approximating $630,000 and
$630,000 at February 28, 2019 and February 28, 2018, respectively) attributable to the USBL net operating loss
carryforward.



As of February 28, 2019, USBL had a net
operating loss carryforward of approximately $3,000,000 available to offset future taxable income. Approximately, $2,940,000 carryforward
expires in varying amounts from 2020 to 2038 and $60,000 of the carryforward does not expire. Current United States income tax
laws limit the amount of loss available to be offset against future taxable income when a substantial change in ownership occurs.
Therefore, the amount available to offset future taxable income may be limited.



F7


Table of Contents




USBL files Federal and Connecticut income
tax returns using a December 31 fiscal year. The last returns filed were for the year ended December 31, 2015.

Estimates –
The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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.

Stock-based compensation –
Stock-based compensation is accounted for at fair value in accordance with Accounting Standards Codification (“ASC”)
718, “Compensation – Stock Compensation”. No stock options were granted during the years ended February 28, 2019
and February 28, 2018 and none are outstanding at February 28, 2019.

Earnings (loss)
per common share – ASC 260, “Earnings Per Share”, establishes standards
for computing and presenting earnings (loss) per share (EPS). ASC 260 requires dual presentation of basic and diluted EPS. Basic
EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of
common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if stock options or convertible
securities were exercised or converted into common stock. The Company did not include the 1,105,679 shares of convertible preferred
stock in its calculation of diluted loss per share for the years ended February 28, 2019 and February 28, 2018 as the result would
have been antidilutive.



Comprehensive income -
Other comprehensive income (loss) refers to revenues, expenses, gains and losses that under generally
accepted accounting principles are included in comprehensive income but are excluded from net income (loss) as these amounts are
recorded directly as an adjustment to stockholders' equity. Comprehensive loss was equivalent to net loss for all periods presented.

3. Accounts Payable and Accrued
Expenses



Accounts payable and accrued expenses consisted of:

|                                                                               |  | February 28, 2019 |         | February 28, 2018
|------------------------------------------------------------------------------ |  | ----------------- | ------- | -----------------
|                                                                               |  |                   |         |                  
|Legal and accounting services’ vendors                                         |  | $                 | 66,112  |                  
|Transfer agent and EDGAR agent                                                 |  |                   | 12,462  |                  
|Rent due Genvest, LLC (an entity controlled by the two officers of USBL)       |  |                   | 132,000 |                  
|Accrued interest on MCREH note payable to president of USBL                    |  |                   | 13,562  |                  
|Security deposit due CADCOM (an entity controlled by the two officers of USBL) |  |                   | 2,725   |                  
|Other                                                                          |  |                   | 777     |                  
|                                                                               |  |                   |         |                  
|Total                                                                          |  | $                 | 227,638 |                  







F8


Table of Contents








4. Due to Related Parties





Due to related parties consist of:

|                                                                                                                                                  |  | February 28, 2019 |           | February 28, 2018
|------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------- | --------- | -----------------
|                                                                                                                                                  |  |                   |           |                  
|USBL loans payable to Spectrum Associates, Inc. (“Spectrum”), a corporation controlled by the two officers of USBL, interest at 6%, due on demand |  | $                 | 1,314,289 |                  
|USBL loans payable to the two officers of USBL, interest at 6%, due on demand                                                                     |  |                   | 558,017   |                  
|USBL loans payable to Daniel T. Meisenheimer, Jr. Trust, a trust controlled by the two officers of USBL, non-interest bearing, due on demand      |  |                   | 48,850    |                  
|MCREH note payable to president of USBL, interest at 7%, due on demand                                                                            |  |                   | 45,000    |                  
|MCREH loan payable to Spectrum, non-interest bearing, due on demand                                                                               |  |                   | 4,500     |                  
|MCREH loan payable to president of USBL, non-interest bearing, due on demand                                                                      |  |                   | 4,000     |                  
|MCREH loan payable to Meisenheimer Capital, Inc., non-interest bearing, due on demand                                                             |  |                   | 159,723   |                  
|                                                                                                                                                  |  |                   |           |                  
|Total                                                                                                                                             |  | $                 | 2,134,379 |                  





For the years ended February 28, 2019 and February 28, 2018, interest due under the related party loans were
waived by the respective lenders.





















F9


Table of Contents




5. Stockholders’ Equity



Each share of common stock has one vote. Each share of preferred stock has five votes, is entitled to a 2%
non-cumulative annual dividend, and is convertible at any time into one share of common stock.





6. Related Party Transactions





For the years ended February 28, 2019
and February 28, 2018, USBL included in operating expenses rent incurred to Genvest, LLC (an entity controlled by the two officers
of USBL) totaling $12,000 and $12,000, respectively.





7. Commitment and Contingencies





Occupancy Agreement



In September 2007, the Company moved its office to a building owned by Genvest, LLC, an entity controlled
by the two officers of USBL. Improvements to the Company’s space were completed in February 2008. Pursuant to a verbal agreement,
the Company is to pay Genvest monthly rentals of $1,000 commencing March 2008. At February 28, 2019 and February 28, 2018, accounts
payable and accrued expenses included accrued rent payable to Genvest totaling $132,000 and $120,000, respectively.





















F10


Table of Contents








EXHIBIT INDEX





*3(i)	Certificate of Incorporation (May 29, 1984)



*3(i)a	Amended Certificate of Incorporation
(Sept. 4, 1984)



*3(i)b	Amended Certificate of Incorporation
(March 5, 1986)



*3(i)c	Amended Certificate of Incorporation
(Feb. 19, 1987)



*3(i)d	Amended Certificate of Incorporation
(June 30, 1995)



*3(i)e	Amended Certificate of Incorporation
(January 12, 1996)



*3(i)f	Certificate of Renewal (June 23,
1995)



*3(i)g	Certificate of Renewal (May 22, 2000)



*3.9	By-Laws of USBL



*3.10	Amended By-Laws



+10.2 	Standard Franchise Agreement of USBL



31.1        Certification
of President (principal executive officer)



31.2       Certification
of Chief Financial Officer (principal financial officer)



| | 32 | Certification pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002
| | -- | ---------------------------------------------------------------------------------------------------------------------

|101.INS
        101.SCH
        101.CAL
        101.DEF
        101.LAB
        101.PRE | XBRL Instance Document
        XBRL Taxonomy Extension Schema Document
        XBRL Taxonomy Extension Calculation
        Document
        XBRL Taxonomy Extension Definitions
        Document
        XBRL Taxonomy Extension Labels Document
        XBRL Taxonomy Extension Presentations
        Document
|--------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

___________________

*Incorporated by reference to the Company’s Registration
Statement on Form 10-SB, and amendments thereto, filed with the SEC on May 30, 2000.



+Incorporated by reference to the Company’s
Annual Report on Form 10-KSB for the fiscal year ended February 28, 2001.



|
|







F11


Table of Contents








SIGNATURES



Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.



UNITED STATES BASKETBALL LEAGUE,
INC.





__/s/ Daniel T. Meisenheimer,
III_

Daniel T. Meisenheimer, III

Chairman and President

August 23rd 2019



Pursuant to the requirements
of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.



__/s/ Daniel T. Meisenheimer,
III_

Daniel T. Meisenheimer, III

Chairman and President

August 23rd, 2019







__/s/ Richard C. Meisenheimer___

Richard C. Meisenheimer

Chief Financial Officer and Director

August 23rd, 2019























F12