Item 1.01 Entry into a Material Definitive Agreement.

Through a series of Stock Purchase Agreements (the "Purchase Agreements"), the majority owners of registrant, United States Basketball League, Inc. ("USBL"), Richard C. Meisenheimer, Daniel T. Meisenheimer, III, James Meisenheimer, Meisenheimer Capital, Inc. and Spectrum Associates, Inc. (the "Sellers") sold a total of 2,704,007 shares of USBL's common stock at a per share price of $.065, 2,400,000 shares of USBL's common stock at a per share price of $.10 and 1,105,644 of USBL's preferred stock at a per share price of $.057 for a total purchase price of $481,066. There were two purchasers of over 5% of the issued and outstanding shares of USBL's capital stock following these sales, Equity Markets Advisory which owns 8.29% of the issued and outstanding shares of USBL's common stock and EROP Enterprises LLC which owns 29.24% of the issued and outstanding shares of USBL's common stock and 100% of the issued and outstanding shares of preferred stock. 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. The foregoing description of the Stock Purchase Agreements does not purport to be complete and is qualified in its entirety by reference to the Stock Purchase Agreements with EROP Enterprises LLC which are filed as Exhibit 10.1 and 10.2 to this Current Report on Form 8-K. World Equity Markets acted in the capacity of a broker/dealer and was issued 125,000 shares of common stock for its services.

Item 3.02 Unregistered Sales of Equity Securities.

Effective April 7, 2021, the Sellers sold a total of 2,704,007 shares of USBL's common stock at a per share price of $.065, 2,400,000 shares of USBL's common stock at a per share price of $.10 and 1,105,679 of USBL's preferred stock at a per share price of $.057 for a total purchase price of $481,066. None of the foregoing transactions involved any underwriters, underwriting discounts or commissions, or any public offering. We believe the offers, sales and issuances of the above securities were exempt from registration under the Securities Act (or Regulation D or Regulation S promulgated thereunder) by virtue of Section 4(a)(2) of the Securities Act because the issuance of securities to the recipients did not involve a public offering. The recipients of the securities in each of these transactions represented their intentions to acquire the securities for investment only and not with a view to or for sale in connection with any distribution thereof, and appropriate legends were placed upon the stock certificates issued in these transactions. All recipients had adequate access, through their relationships with us, to information about the registrant. The sales of these securities were made without any general solicitation or advertising.





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