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57 minutes ago, CrimsonBull9584 said:

It almost seems like everyone wants to see this league fail. Sure they've had problem, but I don't see anyone being positive that they will work through them and we will get a new pro football league. 

 

50 minutes ago, walkerws said:

The start of these leagues usually seem to be shady. The UFL was the best try since the USFL, but if they could get a couple seasons in, work out a suitable relationship with the NFL, maybe they could stay. It's all about getting tape for guys who aren't in the league so players will always be available.

 

A regional system like currently exists in semipro football would be better but the span of control and teams is problematic. The NAFL was closest to this model.

Both of you, this is not a start, but rather just another lead investor/owner in an ongoing process EIGHT years old.  They are publicly held, so if you researched it, they've not reported revenues for years, were evicted from their HQ near Sarasota for not paying rent (as well as failing to create promised jobs and hotel nights for a tax break) and still owe the state of Delaware back taxes. So why be positive?

 

 

In February 2016, they announced a letter of intent from a seemingly fictional "Asian Global Capital, Ltd." for $100M in capital which never occurred. Prior to that in September 2015, they announced a $15M investment from a "Clairemont Private Investment Group, LLC", which was just a dude with a home business in a Houston suburb, and that dude was supposed to also get a franchise.  Guess what? That fell through and MLFB had the gall to sue even though they couldn't afford an attorney.

 

From their March 2017 filing:

Quote


Financial Condition


The accompanying unaudited financial statements have been prepared assuming the Company will continue as a going concern. As reflected in the accompanying unaudited financial statements, the Company had no revenues, and a net loss and negative cash from operating activities of $4,386,576 and $235,861 respectively, for the nine months ended January 31, 2017. Additionally, at January 31, 2017, the Company has a working capital deficit of $4,106,505, an accumulated deficiency of $25,508,408 and a stockholders' deficiency of $4,091,977, which could have a material impact on the Company's financial condition and operations.


Results of Operations


Nine months ending January 31, 2017, compared to the nine months ended January 31, 2016


For the nine months ended January 31, 2017, we had no revenue as compared to $87,445 of revenue for the nine months ended January 31, 2016. The Company is working through its business plan whereby it is seeking to establish, develop and operate MLFB as a professional spring football league. For 2016, all revenue was from league tryout camp fees with no comparable amount in 2017.


Total operating expenses for the nine months ended January 31, 2017 were $3,592,811 as compared to total operating expenses for the nine months ended January 31, 2016 of $3,096,179, or an increase of $496,632.  The increase from 2016 to 2017 was primarily from a $691,744 increase in professional fees, offset by a $119,923 decrease in league tryout expenses and $71,651 of general and administrative expense.  The increase in professional fees was primarily from a $655,390 increase in consulting comprised primarily for the issuance of stock warrants for prior consulting services.  The decrease in league tryout expenses related to no league tryout camps in 2017 as compared to 2016.  


Other income (expense) for the nine months ended January 31, 2017 was $793,765 of expense compared to $978,118 of expense for the nine months ended January 31, 2016, or a decrease in expense of $184,353. The change from 2016 to 2017 was primarily from a $557,688 decrease in interest expense, primarily because in 2016, there was interest expense for a beneficial conversion feature for the conversion of convertible notes payable and accrued interest into common stock and warrants with no comparable amount in 2017.  This was offset by $285,435 from the change in the fair value of an embedded conversion option in 2017 with no comparable amount in 2016.  


We had net losses of $4,386,576 and $3,986,852 for the nine months ended January 31, 2017 and 2016, respectively.

 

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2 hours ago, CrimsonBull9584 said:

It almost seems like everyone wants to see this league fail. Sure they've had problem, but I don't see anyone being positive that they will work through them and we will get a new pro football league. 

I don't want them to fail, but I expect them to fail. Those are two very different things. If you are unwilling or unable to see the difference then there's nothing else that needs to be said about these football leagues that are trying to become the next thing.

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4 hours ago, Sec19Row53 said:

I don't want them to fail, but I expect them to fail. Those are two very different things. If you are unwilling or unable to see the difference then there's nothing else that needs to be said about these football leagues that are trying to become the next thing.

 

It is true that the owners and backers of this league seem to be in financial disarray. But, even a league that is run by financially sound parties, such as the XFL, gets denounced by a segment of fans simply because it is not the NFL.

 

You cannot deny that many fans inexplicably react with a reflexive hostility towards any football league that is not the NFL. It is as if they have internalised the notion that the NFL is the only legitimate league, and that no other league even ought to exist.

 

This is ugly because it suggests that these fans are less interested in watching the sport than they are in identifying with power.

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1 hour ago, Ferdinand Cesarano said:

 

It is true that the owners and backers of this league seem to be in financial disarray. But, even a league that is run by financially sound parties, such as the XFL, gets denounced by a segment of fans simply because it is not the NFL.

 

You cannot deny that many fans inexplicably react with a reflexive hostility towards any football league that is not the NFL. It is as if they have internalised the notion that the NFL is the only legitimate league, and that no other league even ought to exist.

 

This is ugly because it suggests that these fans are less interested in watching the sport than they are in identifying with power.

1- Any initial income strategy should not be charging for tryouts. These seem to be the only way these leagues generate the small revenue they do. They traffic on hope from the prospective "players" and you.

 

2- This league is on record stating that their (old) revenue model needed 12-15,000 fans paying an average ticket of $50.  50 f'n dollars for sh!tty football. 

 

The academy calling itself "The Spring League" cannot get 250 people charing $39 and a handful of indoor teams folded in the last two weeks due to poor quality and even poorer attendance.

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Ooh goodie more football leagues. This will fail. The USFL is the closest we had to something being as popular as the NFL and was becuase of Herschel Walker. Let's see if a top tier college talent wastes his future by going to the MLF (milf?) instead of the NFL.

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4 hours ago, noleseveryday said:

Ooh goodie more football leagues. This will fail. The USFL is the closest we had to something being as popular as the NFL and was becuase of Herschel Walker. Let's see if a top tier college talent wastes his future by going to the MLF (milf?) instead of the NFL.

The UFL wanted to get in with the NFL and it didn't happen. I think the only way spring football works is if the NFL admits it needs the backups to get more meaningful snaps before the preseason. The MLF just needs to be buried. It's not even a junk bond anymore.

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15 minutes ago, MJWalker45 said:

The UFL wanted to get in with the NFL and it didn't happen. I think the only way spring football works is if the NFL admits it needs the backups to get more meaningful snaps before the preseason. The MLF just needs to be buried. It's not even a junk bond anymore.

 Oof

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On 07/23/2017 at 3:49 PM, dfwabel said:

1- Any initial income strategy should not be charging for tryouts. These seem to be the only way these leagues GE revenue.

 

2- This league is on record stating that their (old) revenue model needed 12-15,000 fans paying an average ticket of $50.  50 f'n dollars for sh!tty football. 

 

The academy calling itself "The Spring League" cannot get 250 people charing $39 and a handful of indoor teams folded in the last two weeks due to poor quality and even poorer attendance.

So just new owners and Wes Chandler and others are gone.

 

http://ih.advfn.com/p.php?pid=nmona&article=75337414

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Well the new owners of the league...

 

1-Promised a new website in August 2017 and failed.

http://mlfb.com/

 

2-Was evicted this week, owes $75,000 to the previous landlord,yet claims to establish a new location in Bradenton within days.

 

3- The league logo doesn't belong to them as they failed to pay for it.  I'll assume that the team logo designers weren't paid either since they only gained I income from hosting player tryouts/combines.

http://ih.advfn.com/p.php?pid=nmona&article=75551352

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On 7/23/2017 at 8:05 AM, CrimsonBull9584 said:

It almost seems like everyone wants to see this league fail. Sure they've had problem, but I don't see anyone being positive that they will work through them and we will get a new pro football league. 

Well homie, here's another reason why "a new pro league" is nearly impossible.

The "new" owners of MLFB failed to make their required $3M payment.

https://ih.advfn.com/p.php?pid=nmona&article=75875004

 

This company is dead, bro. Nobody wants $hitty football which is off-brand but costs $$$ near major college prices. We don't want to see it on TV too.

 

Next up, agent Don Yee's PacPro attempt.

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What happens when you fail to make the $3M payment to buy Major League Football?

 

If you are Larry and Kris Craig (Compass Creek Capital), you "form" your own spring league with the same coaches who were to be a part of MLFB and call it the Professional Football League, or PFL.  

 

Quote

About Professional Football League (PFL):

The Professional Football League (PFL) was founded in October 2017 and is set to launch its inaugural season in spring 2018 joined by an elite group of highly talented head coaches. Eight U.S. cities have been awarded first-year franchise teams. PFL aspires to be a steadfast resource for those who are interested in advancing their physical and mental game skillset necessary to continue chasing their dream of playing professional football. PFL strategies beyond the game will focus on players' educational development, the development of game officials, league staff, management, and front office executives all with the goal of employment within the sports industries and leagues. PFL's corporate league office will be located in Newport Beach, California. PFL team tryouts, the PFL player draft, and pre-season training will be held in Dallas, Texas.

pUMoHcY.jpg

Edited by dfwabel
Logo added

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5 hours ago, dfwabel said:

What happens when you fail to make the $3M payment to buy Major League Football?

 

If you are Larry and Kris Craig (Compass Creek Capital), you "form" your own spring league with the same coaches who were to be a part of MLFB and call it the Professional Football League, or PFL.  

 

pUMoHcY.jpg

That logo came straight out of the 80s...

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3 hours ago, dfwabel said:

Please celebrate your Thanksgiving with a laugh as you read the latest MLFB Annual Report.

Note that MLFB stock is now "trading" at $0.008/share.  Yes, eight tenths of a cent.

 

 

 

 

They have literally $525 in cash in the bank, and over $3 million in current liabilities. 

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On 7/23/2017 at 4:12 PM, DNAsports said:

I'm still wishing the UFL never folded. I honestly thought it had a bright future.

The problem was the UFL was banking heavily on the 2011 NFL lockout actually causing regular season games to be lost. That would make the UFL the only "pro" football league on television and they'd likely gain viewers out of nothing else being available. But then the lockout ended, the NFL didn't lost any regular season games, and the UFL never gained any traction.

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