**FORM      10-Q**

| x      | QUARTERLY                REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES   |
|--------|--------------------------------------------------------------------------------|
|   | EXCHANGE                ACT OF 1934                                            |
|   |                                                                           |
|   | For                the quarterly period ended May                31, 2008      |
|   |                                                                           |
| o      | TRANSITION                REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT |
|   |                                                                           |
|   | For                the transition period from ________ to________              |
|   |                                                                           |
|   | Commission                File Number 1-15913                                  |

**UNITED      STATES BASKETBALL LEAGUE, INC.**

| Delaware                                       |   | 06-1120072                            |
|------------------------------------------------|--------|---------------------------------------|
| (State                or Other Jurisdiction of |   | (I.R.S.                Employer       |
| Incorporation                or Organization)  |   | Identification                Number) |

----

|   | Large                accelerated filer o                     |   | Accelerated                filer         | o      |
|--------|--------------------------------------------------------------|--------|------------------------------------------|--------|
|   |                                                         |   |                                     |   |
|   | Non-accelerated                filer o                       |   | Smaller                reporting company | **x**  |
|   | (Do                not check if a smaller reporting company) |   |                                     |

----

|                    |                                                                                                                                      | PAGE    |
|-------------------------|-------------------------------------------------------------------------------------------------------------------------------------------|---------|
| PART                I.  | FINANCIAL                INFORMATION                                                                                                      |  3 |
|                    |                                                                                                                                      |    |
| Item                1.  | Unaudited                Financial Statements.                                                                                            |  3 |
|                    |                                                                                                                                      |    |
|                    | Consolidated                  Balance Sheets – May 31, 2008 and                  February 28, 2008                                  | 3       |
|                    |                                                                                                                                      |    |
|                    | Consolidated                  Statements of Operations for the three months Ended May 31, 2008                  and                  2007 | 4       |
|                    |                                                                                                                                      |    |
|                    | Consolidated                  Statement of Stockholders’ Deficiency                                                                 | 5       |
|                    |                                                                                                                                      |    |
|                    | Consolidated                  Statements of Cash Flows for the three                  months ended May 31, 2008 and 2007                  | 6       |
|                    |                                                                                                                                      |    |
|                    | Notes                to Consolidated Financial Statements                                                                                 | 7       |
|                    |                                                                                                                                      |    |
| Item                2.  | Management’s                Discussion and Analysis or Plan of Operation                                                            | 12      |
|                    |                                                                                                                                      |    |
| Item                3.  | Quantitative                and Qualitative Disclosures About Market Risks                                                                | 13      |
|                    |                                                                                                                                      |    |
| Item                4T. | Controls                and Procedures                                                                                                    | 13      |
|                    |                                                                                                                                      |    |
| PART                II. | OTHER                INFORMATION                                                                                                          | 13      |
|                    |                                                                                                                                      |    |
| Item                6.  | Exhibits                                                                                                                                  | 13      |

----

**PART      I**

**FINANCIAL      INFORMATION**

**ITEM      1.  CONSOLIDATED      FINANCIAL STATEMENTS.**

|                                                                                                                                                                        |   | May                31, 2008 |         | February                29,2008 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------------|---------------------------------|--------|
|                                                                                                                                                                        |   | (Unaudited)                 |         |                            |   |
| ASSETS                                                                                                                                                                      |   |                        |         |                            |   |   |   |
|                                                                                                                                                                        |   |                        |         |                            |   |   |   |
| CURRENT                ASSETS:                                                                                                                                              |   |                        |         |                            |   |   |   |
| Cash                and cash                equivalents                                                                                                                     |   | $                           | 2,922        |                            | $      | 17,975 |   |
| Marketable                equity                securities                                                                                                                  |   |                        | 3,642        |                            |   | 3,642 |   |
| Inventory                                                                                                                                                                   |   |                        | 5,000        |                            |   | 5,000 |   |
| Due                from related parties                                                                                                                                     |   |                        | 31,737       |                            |   | 28,895 |   |
| Total                current assets                                                                                                                                         |   |                        | 43,301       |                            |   | 55,512 |   |
|                                                                                                                                                                        |   |                        |         |                            |   |   |   |
| PROPERTY,                NET                                                                                                                                                |   |                        | 251,088      |                            |   | 252,386 |   |
| Total                assets                                                                                                                                                 |   | $                           | 294,389      |                            | $      | 307,898 |   |
|                                                                                                                                                                        |   |                        |         |                            |   |   |   |
| LIABILITIES                AND STOCKHOLDERS’ DEFICIENCY                                                                                                          |   |                        |    |                            |   |    |   |
|                                                                                                                                                                        |   |                        |         |                            |   |   |   |
| CURRENT                LIABILITIES:                                                                                                                                         |   |                        |         |                            |   |   |   |
| Accounts                payable and accrued                expenses                                                                                                         |   | $                           | 53,311       |                            | $      | 73,375 |   |
| Credit                card obligations                                                                                                                                      |   |                        | 111,135      |                            |   | 96,688 |   |
| Due                to related                parties                                                                                                                        |   |                        | 1,035,497    |                            |   | 994,604 |   |
| Current                portion of mortgage                payable                                                                                                           |   |                        | 71,467       |                            |   | 74,245 |   |
|                                                                                                                                                                        |   |                        |         |                            |   |   |   |
| Total                current liabilities                                                                                                                                    |   |                        | 1,271,410    |                            |   | 1,238,912 |   |
| Due                to related parties, net of current portion                                                                                                               |   |                        | 50,000       |                            |   | 50,000 |   |
| Total                Liabilities                                                                                                                                            |   |                        | 1,321,410    |                            |   | 1,288,912 |   |
| STOCKHOLDERS’                DEFICIENCY                                                                                                                               |   |                        |         |                            |   |   |   |
| Common                stock, $0.01 par value; 30,000,000shares                authorized; issued and outstanding3,522,502                and 3,522,502, shares respectively |   |                        | 35,225       |                            |   | 35,225 |   |
| Preferred                stock, $0.01 par value; 2,000,000shares                authorized; 1,105,679 shares issuedand                outstanding                           |   |                        | 11,057       |                            |   | 11,057 |   |
| Additional                paid-in-capital                                                                                                                                   |   |                        | 2,668,155    |                            |   | 2,668,155 |   |
| Deficit                                                                                                                                                                     |   |                        | (3,699,004   | )                               |   | (3,652,997 | ) |
| Treasury                stock, at cost; 39,975 shares                                                                                                                       |   |                        | (42,454      | )                               |   | (42,454 | ) |
| Total                stockholders’ deficiency                                                                                                                         |   |                        | (1,027,021   | )                               |   | (981,014 | ) |
|                                                                                                                                                                        |   |                        |    |                            |   |   |   |
| Total                liabilities and stockholders’ deficiency                                                                                                         |   | $                           | 294,389      |                            | $      | 307,898 |   |

----

|                                                                               |   | Three Months Ended |      |
|------------------------------------------------------------------------------------|--------|------------------------------|-----------|
|                                                                               |   | May 31, 2008       |      | May 31,2007 |   |
|                                                                               |   |                         |      |   |   |
| REVENUES:                                                                          |   |                         |      |   |   |   |   |
| Initial                franchise                fees                               |   | $                            | -         |   | $ | - |   |
| Continuing                franchise fees                                           |   |                         | 10,000    |   |   | 55,000 |   |
| Sponsorship/advertising                                                            |   |                         | -         |   |   | 45,000 |   |
| Other                                                                              |   |                         | 11,000    |   |   | 16,542 |   |
|                                                                               |   |                         | 21,000    |   |   | 116,542 |   |
|                                                                               |   |                         |      |   |   |   |   |
| OPERATING                EXPENSES:                                                 |   |                         |      |   |   |   |   |
| Consulting                                                                         |   |                         | -         |   |   | 48,500 |   |
| Referee                fees                                                        |   |                         | -         |   |   | 11,600 |   |
| Salaries                                                                           |   |                         | 14,700    |   |   | 14,950 |   |
| Travel                and                promotion                                 |   |                         | 11,395    |   |   | 5,772 |   |
| Depreciation                                                                       |   |                         | 1,298     |   |   | 1,298 |   |
| Other                                                                              |   |                         | 30,312    |   |   | 27,621 |   |
|                                                                               |   |                         | 57,705    |   |   | 109,741 |   |
|                                                                               |   |                         |      |   |   |   |   |
| Income                (loss) from operations                                       |   |                         | (36,705   | ) |   | 6,801 |   |
|                                                                               |   |                         |      |   |   |   |   |
| OTHER                INCOME (EXPENSES):                                            |   |                         |      |   |   |   |   |
| Net                gain (loss) from marketable equity securities                   |   |                         | -         |   |   | (175 | ) |
| Interest                and other expense                                          |   |                         | (9,304    | ) |   | (5,567 | ) |
| Interest                and dividend income                                        |   |                         | 2         |   |   | 12 |   |
|                                                                               |   |                         | (9,302    | ) |   | (5,730 | ) |
|                                                                               |   |                         |      |   |   |   |   |
| NET                INCOME (LOSS)                                                   |   | $                            | (46,007   | ) | $ | 1,071 |   |
|                                                                               |   |                         |      |   |   |   |   |
| Earnings                (loss) per common share:                                   |   |                         |      |   |   |   |   |
| Basic                                                                              |   | $                            | (0.01     | ) | $ | 0.00 |   |
| Diluted                                                                            |   | $                            | (0.01     | ) | $ | 0.00 |   |
| WEIGHTED                AVERAGE NUMBER OF COMMON                SHARES OUTSTANDING |   |                         |      |   |   |   |   |
| Basic                                                                              |   |                         | 3,482,527 |   |   | 3,482,527 |   |
| Diluted                                                                            |   |                         | 4,588,206 |   |   | 4,588,206 |   |

----

**(Unaudited)**

|                                       |   | Common Stock |                                                                         | Preferred Stock |   | Additional  |   |   |      |    |   | Total   |   |
|--------------------------------------------|--------|-------------------|------------------------------------------------------------------------------|----------------------|--------|-------------|--------|--------|-----------|---------|--------|---------|--------|
|                                       |   | Shares            |                                                                         |                 |   | Shares      |   |   |      | Paid-in |   |    |   | Treasury |   | Stockholders’ |   |
|                                       |   | Outstanding       |                                                                         | Amount               |   | Outstanding |   | Amount |      | Capital |   | Deficit |   | Stock |   | Deficiency |   |
|                                       |   |              |                                                                         |                 |   |        |   |   |      |    |   |    |   |   |   |   |   |
| Balance                  February 29, 2008 |   |              | 3,522,502                                                                    |                 | $      | 35,225      |   |   | 1,105,679 |    | $      | 11,057  |   | $ | 2,668,155 |   | $ | (3,652,997 | ) | $ | (42,454 | ) | $ | (981,014 | ) |
| Net                  Income (loss)         |   |              |                            |                 |   | -           |   |   | -         |    |   | -       |   |   | - |   |   | (46,007 | ) |   | - |   |   | (46,007 | ) |
|                                       |   |              |                                                                         |                 |   |        |   |   |      |    |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Balance                  May 31, 2008      |   |              | 3,522,502                                                                    |                 | $      | 35,225      |   |   | 1,105,679 |    | $      | 11,057  |   | $ | 2,668,155 |   | $ | (3,699,004 | ) | $ | (42,454 | ) | $ | (1,027,021 | ) |

----

|                                                                                                                            |   | Three Months Ended |         |
|---------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|--------------|
|                                                                                                                            |   | May 31,2008             |         | May 31,2007 |   |
|                                                                                                                            |   |                         |         |   |   |
| CASH                FLOWS FROM OPERATING ACTIVITIES:                                                                            |   |                         |         |   |   |   |   |
| Net                Income (loss)                                                                                                |   | $                            | (46,007      | ) | $ | 1,071 |   |
| Adjustments                to reconcile net income(loss) to net cash (used in) provided by operating                activities: |   |                         |         |   |   |   |   |
| Depreciation                                                                                                                    |   |                         | 1,298        |   |   | 1,298 |   |
| Change                in operating assets and liabilities:                                                                      |   |                         |         |   |   |   |   |
| Marketable                equity securities                                                                                     |   |                         | -            |   |   | 175 |   |
| Accounts                payable and accrued expenses                                                                            |   |                         | (20,064      | ) |   | 16,864 |   |
| Credit                card obligations                                                                                          |   |                         | 14,447       |   |   | (7,700 | ) |
|                                                                                                                            |   |                         |         |   |   |   |   |
| Net                cash (used in) provided by operating activities                                                              |   |                         | (50,326      | ) |   | 11,708 |   |
|                                                                                                                            |   |                         |         |   |   |   |   |
| CASH                FLOWS FROM FINANCING ACTIVITIES:                                                                            |   |                         |         |   |   |   |   |
| Decrease                (increase) in due from related parties                                                                  |   |                         | (2,842       | ) |   | (17,188 | ) |
| Increase                (decrease) in due to related parties                                                                    |   |                         | 40,893       |   |   | 9,507 |   |
| Decrease                in mortgage payable                                                                                     |   |                         | (2,778       | ) |   | (2,652 | ) |
|                                                                                                                            |   |                         |         |   |   |   |   |
| Net                cash provided by (used in) financing activities                                                              |   |                         | 35,273       |   |   | (10,333 | ) |
|                                                                                                                            |   |                         |         |   |   |   |   |
| NET                (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                                                             |   |                         | (15,053      | ) |   | 1,375 |   |
|                                                                                                                       |   |                         |    |   |   |    |   |
| CASH                AND CASH EQUIVALENTS, beginning of period                                                                   |   |                         | 17,975       |   |   | 4,061 |   |
|                                                                                                                            |   |                         |    |   |   |    |   |
| CASH                AND CASH EQUIVALENTS, end of period                                                                         |   | $                            | 2,922        |   | $ | 5,436 |   |
| SUPPLEMENTAL                DISCLOSURES OF CASH FLOW INFORMATION:                                                               |   |                         |         |   |   |   |   |
|                                                                                                                            |   |                         |         |   |   |   |   |
| Interest                paid                                                                                                    |   | $                            | 6,854        |   | $ | 5,958 |   |
| Income                tax paid                                                                                                  |   | $                            | -            |   | $ | - |   |

----

| 1. | **Description                of Business and Basis of Presentation**: |
|----|-----------------------------------------------------------------------|

| 2. | **Summary                of Significant Accounting Policies**: |
|----|----------------------------------------------------------------|

***Principles      of consolidation***

***Fair      value disclosures –***

***Cash      and cash equivalents -***

----

***Marketable      equity securities***
*–      *

***Inventory      -***

***Depreciation      expense -***

***Revenue      recognition -***

***Income      taxes***

***Estimates***

----

***Advertising      costs***

***Stock-based      compensation***

***Earnings      (loss) per share***
**      - SFAS No. 128, “Earnings Per Share”, establishes standards for computing and      presenting earnings (loss) per share (EPS). SFAS No. 128 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. **

***Comprehensive      income***

***Referee      fees***

| ***3.*** | ***Due                from related parties*** |
|----------|-----------------------------------------------|

|                                                                                                                                                                      |   | May 31, |   | February 29, |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|-------------------|--------|
|                                                                                                                                                                      |   | 2008         |   | 2008              |   |
|                                                                                                                                                                      |   | (unaudited)  |   |              |   |
| Due                from Meisenheimer Capital, Inc. (“MCI”), controlling stockholder of USBL,                non-interest bearing, due on demand               |   | $            | 29,737 |              | $      | 26,895 |   |
|                                                                                                                                                                      |   |         |   |              |   |   |   |
| Due                from Synercom, Inc. (“Synercom”), a corporation controlled by the two                officers of USBL, non-interest bearing, due on demand |   |         | 2,000  |              |   | 2,000 |   |
|                                                                                                                                                                      |   |         |   |              |   |   |   |
| Total                                                                                                                                                                     |   | $            | 31,737 |              | $      | 28,895 |   |

| **4.** | **Property,                Net** |
|--------|----------------------------------|

|                                         |   | May 31, |    | February 29, |   |
|----------------------------------------------|--------|--------------|---------|-------------------|--------|
|                                         |   | 2008         |    | 2008              |   |
|                                         |   | (unaudited)  |    |              |   |
|                                         |   |         |    |              |   |
| Land                                         |   | $            | 121,253 |              | $      | 121,253 |   |
| Building                                     |   |         | 155,747 |              |   | 155,747 |   |
| Total                                        |   |         | 277,000 |              |   | 277,000 |   |
|                                         |   |         |    |              |   |   |   |
| Less                accumulated depreciation |   |         | (25,912 | )                 |   | (24,614 | ) |
|                                         |   |         |    |              |   |   |   |
| Property,                net                 |   | $            | 251,088 |              | $      | 252,386 |   |

----

| **5.** | **Credit                Card Obligations** |
|--------|--------------------------------------------|

| **6.** | **Due                to Related Parties** |
|--------|-------------------------------------------|

|                                                                                                                                                                                                       |   | May 31,2008 |       | February 29,2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------|------------|-----------------------|--------|
|                                                                                                                                                                                                       |   | Unaudited        |       |                  |   |
| USBL                loans payable to Spectrum Associates, Inc. (“Spectrum”), a corporation                controlled by the two officers of USBL, interest at 6%, due on                demand |   | $                | 574,420    |                  | $      | 553,919 |   |
| USBL                loans payable to the two officers of USBL, interest at 6%, due on                demand                                                                                                |   |             | 321,077    |                  |   | 300,685 |   |
| MCREH                note payable to mother of the two officers of USBL, interest at 6%,                due                December 31, 2011                                                               |   |             | 50,000     |                  |   | 50,000 |   |
| MCREH                note payable to Spectrum, interest at 7%, due on demand, secured                by MCREH                property                                                                      |   |             | 25,000     |                  |   | 25,000 |   |
| MCREH                note payable to president of USBL, interest at 7%, due on demand,                secured                by MCREH property                                                             |   |             | 45,000     |                  |   | 45,000 |   |
| MCREH                note payable to mother of the two officers of USBL, interest at 7%,                due on                demand, secured by MCREH property                                            |   |             | 70,000     |                  |   | 70,000 |   |
| Total                                                                                                                                                                                                      |   |             | 1,085,497  |                  |   | 1,044,604 |   |
| Less                current portion                                                                                                                                                                        |   |             | (1,035,497 | )                     |   | (994,604 | ) |
|                                                                                                                                                                                                       |   |             |       |                  |   |   |   |
| Non                current portion                                                                                                                                                                         |   | $                | 50,000     |                  | $      | 50,000 |   |

| **7.** | **Mortgage                Payable** |
|--------|-------------------------------------|

----

| **8.** | **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. |

| **9.**  | **Related                Party Transactions**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|    | In                the three months ended May 31, 2008 and 2007, USBL included in continuing                franchise fees revenues from MCI of $0 and $45,000, respectively,                and                revenues from Spectrum of $10,000 and $0 respectively. In                the three months ended May 31, 2008 and 2007, USBL received advertising                revenues from Spectrum totaling $0 and $45,000, respectively. In                the three months ended May 31, 2008 and 2007, MCREH received rental                income                from Cadcom, Inc., a corporation controlled by the two officers of                USBL,                totaling $11,000 and $16,500, respectively. In                the three months ended May 31, 2008 and 2007, USBL included in consulting                fees expenses to MCI of $0 and $45,000, respectively.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **10.** | **Commitment                and Contingencies**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|    | Occupancy                Agreement In                September 2007, the Company moved its office from the MCREH building                to a                building owned by Genvest LLC, an organization controlled by the                two                officers of USBL. Improvements to the Company’s space there were completed                in February 2008. Pursuant to a verbal agreement, the Company is                to pay                Genvest monthly rentals of $1,000 commencing March 2008. Financial                Advisory Agreement On                November 28, 2007, USBL executed an agreement with Colebrooke Capital,                Inc. (“Colebrooke”). The agreement provided for Colebrooke to provide                financial advisory services to USBL. As compensation, USBL was to                pay                Colebrooke monthly fees of $3,000 commencing December 15, 2007. In                the                event that a financing is consummated with a participant introduced                to                USBL by Colebrooke or with which Colebrooke was in discussions with                on                behalf of USBL, Colebrooke is to receive consideration equal to 7.5%                of                the total capital raised. For non financing capital transactions,                Colebrooke is to earn a cash fee equal to 5% of the Transaction Value;                alternatively and at Colebrooke’s option, Colebrooke may receive 6% of the                Transaction Value in an equivalent form to that received or issued                by                USBL. The term of the agreement was four months and was to renew                automatically unless either party provided written notice of cancellation.                Colebrooke’s engagement may be terminated by USBL or Colebrooke at any                time upon 30 days written notice from one party to the other. No                monthly fees to Colebrooke were paid or accrued in the three months                ended                May 31, 2008. The Company has obtained a verbal waiver of such fees                from                Colebrooke. Suspension                of 2008 Season In                December 2007, USBL announced the suspension of its 2008 season.                This                suspension may result in claims and legal actions from franchisees.                As of                June 18, 2008, no such claims and legal actions have been                made. |

----

**ITEM**
**      2. **
**MANAGEMENT’S      DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.**
** **

----

**I**TEM****3. ****QUANTITATIVE      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**** ****

**I**
**TEM**
**      4T. **
**CONTROLS      AND PROCEDURES.**
** **

**PART      II**

**OTHER      INFORMATION**

**Item      6. **
**Exhibits.      **

| Exhibit No.: |   | Description:                                                                                                                                                    |
|-------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              |   |                                                                                                                                                            |
| 31.1              |   | Certification                of principal executive officer                                                                                                     |
|              |   |                                                                                                                                                            |
| 31.2              |   | Certification                of principal financial officer                                                                                                     |
|              |   |                                                                                                                                                            |
| 32                |   | Certification                pursuant to 18 U.S.C. Section 1350 adopted pursuant to Section 906                of the                Sarbanes-Oxley Act of 2002 |

----

**SIGNATURES**

| UNITED                STATES BASKETBALL LEAGUE, INC. |
|------------------------------------------------------|
|                                                 |   |
| By:                                                  | */s/                Daniel T. Meisenheimer III* |
|                                                 | Daniel                T. Meisenheimer III |
|                                                 | Chairman                and President |
|                                                 |   |
| By:                                                  | */s/                Richard C. Meisenheimer* |
|                                                 | Richard                C. Meisenheimer |
|                                                 | Chief                Financial Officer and |
|                                                 | Director |

----

**EXHIBIT      INDEX**

| Exhibit No.: |   | Description:                                                                                                                                                    |
|-------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              |   |                                                                                                                                                            |
| 31.1              |   | Certification                of principal executive officer                                                                                                     |
|              |   |                                                                                                                                                            |
| 31.2              |   | Certification                of principal financial officer                                                                                                     |
|              |   |                                                                                                                                                            |
| 32                |   | Certification                pursuant to 18 U.S.C. Section 1350 adopted pursuant to Section 906                of the                Sarbanes-Oxley Act of 2002 |

----