Forward-looking Statements

There are "forward-looking statements" contained in this quarterly report. All statements that express expectations, estimates, forecasts or projections are forward-looking statements. In addition, other written or oral statements which constitute forward-looking statements may be made by us or on our behalf. Words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate," "project," "forecast," "may," "should," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in or suggested by such forward-looking statements. We undertake no obligation to update or revise any of the forward-looking statements after the date of this quarterly report to conform forward-looking statements to actual results. Important factors on which such statements are based are assumptions concerning uncertainties, including but not limited to, uncertainties associated with the following:

? Inadequate capital and barriers to raising the additional capital or to

obtaining the financing needed to implement our business plans;

? Our failure to earn revenues or profits;

? Inadequate capital to continue business;

? Volatility or decline of our stock price;

? Potential fluctuation in quarterly results;

? Rapid and significant changes in markets;

? Litigation with or legal claims and allegations by outside parties; and

? Insufficient revenues to cover operating costs.

The following discussion should be read in conjunction with the financial statements and the notes thereto which are included in this quarterly report. This discussion contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ substantially from those anticipated in any forward-looking statements included in this discussion as a result of various factors.

OVERVIEW

United States Basketball League, Inc. (OTC: USBL) is an emerging diversified investment vehicle focused on participating in and acquiring interests that are leading edge in their respective market niches, and that have expectations of enhancing shareholder values. Based in Tampa, Florida, the Management, Advisors, and the Board of the Company are currently engaged in evaluating and assessing new business opportunities.

Results of Operations

The three months ended August 31, 2021compared to the three months ended August 31, 2020

Revenue

The Company recognized no revenue for the three months ended August 31, 2021 and 2020.

Professional Fees

For the three months ended August 31, 2021, the company incurred $247 of professional fees compared to $2,000 for the three months ended August 31, 2020, a decrease of $1,753. Professional fees generally consist of audit, legal, accounting and transfer agent fees expense.


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General and Administrative Expense

For the three months ended August 31, 2021, the company incurred $80,096 of general and administrative expense compared to $2,143 for the three months ended August 31, 2020 an increase of $77,953. The increase in the current period is primarily the result of stock compensation of $70,730.

Director Compensation

For the three months ended August 31, 2021, the company incurred $48,000 of director compensation expense compared to $0 for the three months ended August 31, 2020. During the current period we issued common stock to two of our directors for total non-cash stock compensation of $48,000.

Other Income/Expense

During the three months ended August 31, 2021, the Company recognized a related party loss on conversion of debt of $127,480 (Note 6) and $2,000 of other income. There was no other income or expense in the prior period.

Net Loss

For the three months ended August 31, 2021, we had a note loss of $205,823 compared to $4,143 for the three months ended August 31, 2020. Our increase in net loss is largely attributed to non-cash stock compensation expense.

The six months ended August 31, 2021compared to the six months ended August 31, 2020

Revenue

The Company recognized no revenue for the six months ended August 31, 2021 and 2020.

Professional Fees

For the six months ended August 31, 2021, the company incurred $12,272 of professional fees compared to $4,000 for the six months ended August 31, 2020, an increase of $8,272. Professional fees generally consist of audit, legal, accounting and transfer agent fees expense.

General and Administrative Expense

For the six months ended August 31, 2021, the company incurred $105,466 of general and administrative expense compared to $6,534 for the six months ended August 31, 2020 an increase of $98,932. The increase in the current period is primarily the result of stock compensation of $89,272.

Director Compensation

For the six months ended August 31, 2021, the company incurred $48,000 of director compensation expense compared to $0 for the six months ended August 31, 2020. During the current period we issued common stock to two of our directors for total non-cash stock compensation of $48,000.

Other Income/Expense

During the six months ended August 31, 2021, we recognized a gain of forgiveness of debt of $66,747 (Note 5), related party loss on conversion of debt of $127,480 (Note 6) and $2,000 of other income. There was no other income or expense in the prior period.



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Net Loss

For the six months ended August 31, 2021, we had a note loss of $224,471 compared to $10,534 for the six months ended August 31, 2020. Our increase in net loss is largely attributed to non-cash stock compensation expense.

Liquidity and Capital Resources

Operating Activities

For the six months ended August 31, 2021, the company used $82,065 in operating activities compared to $237 for the six months ended August 31, 2020.

Financing Activities

During the six months ended August 31, 2021, we received $240,000 from the sale of common stock. We received a cash advances from our CEO of $3,000, $28,870 from another related party and $39,994 from members of the prior management. We also received $3,581 from another party to assist with general operating expenses.

Off Balance Sheet Arrangements

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

Critical Accounting Policies

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

Recent Accounting Pronouncements

We have reviewed other recently issued accounting pronouncements and plan to adopt those that are applicable to us. We do not expect the adoption of any other pronouncements to have an impact on our results of operations or financial position.

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