2.4.0.8116 - Disclosure - Commitments and Contingenciestruefalsefalse1falsefalsefalseP03_01_2013To05_31_2013http://www.sec.gov/CIK0000764630duration2013-03-01T00:00:002013-05-31T00:00:001true1us-gaap_CommitmentsAndContingenciesDisclosureAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_CommitmentsAndContingenciesDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00 <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <strong><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10.</font></strong><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">         </font> <strong><u>Commitments and Contingencies</u></strong></font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: -1.45pt; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Occupancy Agreement</u></font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: -1.45pt; MARGIN: 0in 0in 0pt 1.45pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">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 $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">1,000</font> commencing March 2008. At May 31, 2013 and February 28, 2013, accounts payable and accrued expenses included accrued rent payable to Genvest totaling $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">63,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">60,000</font>, respectively.</font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Cancellation of 2008, 2009, 2010, 2011, 2012 and 2013 Seasons</u></font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; TEXT-INDENT: -1.45pt; MARGIN: 0in 0in 0pt 1.45pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">USBL cancelled its seasons from 2008 through 2013. These cancellations may result in claims and legal actions from franchisees.</font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; TEXT-INDENT: -1.45pt; MARGIN: 0in 0in 0pt 1.45pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Litigation</u></font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; TEXT-INDENT: -1.45pt; MARGIN: 0in 0in 0pt 1.45pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">  </font></div> <div style="clear:both;FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt;TEXT-ALIGN: justify; LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">On June 30, 2008, a legal action was commenced by Albany Patroons, Inc., a franchisee of USBL, against the Company in the United States District Court for the Northern District of New York. The complaint alleges breach of contract by USBL due to the suspension of the 2008 season and seeks total damages of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">285,000</font>. On September 5, 2008, the Company answered the complaint and asserted a counter-claim against plaintiff for breach of franchise agreement and/or memorandum of agreement. This action was discontinued and the parties agreed to proceed with binding arbitration. The Company believes that it has a meritorious defense to the action and does not expect the ultimate resolution of this matter to have a material adverse effect on its consolidated financial condition or results of operations.</font></div> </div> falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for commitments and contingencies.Reference 1: http://www.xbrl.org/2003/role/presentationRef
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