Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Feb. 29, 2016 | Apr. 07, 2016 | Aug. 31, 2015 | |
Document Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Feb. 29, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | UNITED STATES BASKETBALL LEAGUE INC | ||
Entity Central Index Key | 764,630 | ||
Current Fiscal Year End Date | --02-29 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 107,024 | ||
Trading Symbol | USBL | ||
Entity Common Stock, Shares Outstanding | 3,512,527 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Feb. 29, 2016 | Feb. 28, 2015 |
Current Assets: | ||
Cash and cash equivalents | $ 416 | $ 614 |
Total Current Assets | 416 | 614 |
Total Assets | 416 | 614 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 172,499 | 133,853 |
Credit card obligations | 5,968 | 7,361 |
Due to related parties | 2,015,128 | 1,969,350 |
Total Current Liabilities | 2,193,595 | 2,110,564 |
Total Liabilities | 2,193,595 | 2,110,564 |
Stockholders' Deficiency: | ||
Common stock, $0.01 par value, 30,000,000 shares authorized; 3,552,502 and 3,552,502 shares issued, respectively | 35,525 | 35,525 |
Preferred stock, $0.01 par value, 2,000,000 shares authorized; 1,105,679 shares issued and outstanding | 11,057 | 11,057 |
Additional paid-in capital | 2,679,855 | 2,679,855 |
Deficit | (4,877,162) | (4,793,933) |
Treasury stock, at cost; 39,975 shares of common stock | (42,454) | (42,454) |
Total Stockholders' Deficiency | (2,193,179) | (2,109,950) |
Total Liabilities and Stockholders' Deficiency | $ 416 | $ 614 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Feb. 29, 2016 | Feb. 28, 2015 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 30,000,000 | 30,000,000 |
Common stock, issued | 3,552,502 | 3,552,502 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 1,105,679 | 1,105,679 |
Preferred stock, shares outstanding | 1,105,679 | 1,105,679 |
Treasury stock, shares | 39,975 | 39,975 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
Revenues: | ||
Rental income | $ 0 | $ 13,941 |
Total revenues | 0 | 13,941 |
Operating Expenses: | ||
Officers’ compensation | 0 | 8,000 |
Professional fees | 35,211 | 40,766 |
Transfer agent and EDGAR agent fees | 20,914 | 24,120 |
Rent | 12,000 | 12,000 |
Depreciation | 0 | 1,568 |
Other | 13,309 | 11,101 |
Total operating expenses | 81,434 | 97,555 |
Loss from Operations | (81,434) | (83,614) |
Other Income (Expenses): | ||
Gain on sale of property | 0 | 192,931 |
Interest expense | (1,795) | (5,685) |
Total other income (expenses) - net | (1,795) | 187,246 |
Net income (loss) | $ (83,229) | $ 103,632 |
Earnings (Loss) per Common Share: | ||
Basic | $ (0.02) | $ 0.03 |
Diluted | $ (0.02) | $ 0.02 |
Weighted Average Number of Common Shares Outstanding: | ||
Basic | 3,512,527 | 3,512,527 |
Diluted | 3,512,527 | 4,618,206 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity Deficiency - USD ($) | Total | Common Stock | Preferred Stock | Additional Paid-in Capital | Deficit | Treasury Stock |
Balance at Feb. 28, 2014 | $ (2,213,582) | $ 35,525 | $ 11,057 | $ 2,679,855 | $ (4,897,565) | $ (42,454) |
Balance (in shares) at Feb. 28, 2014 | 3,522,502 | 1,105,679 | 39,975 | |||
Net loss | 103,632 | $ 0 | $ 0 | 0 | 103,632 | $ 0 |
Balance at Feb. 28, 2015 | (2,109,950) | $ 35,525 | $ 11,057 | 2,679,855 | (4,793,933) | $ (42,454) |
Balance (in shares) at Feb. 28, 2015 | 3,552,502 | 1,105,679 | 39,975 | |||
Net loss | (83,229) | $ 0 | $ 0 | 0 | (83,229) | $ 0 |
Balance at Feb. 29, 2016 | $ (2,193,179) | $ 35,525 | $ 11,057 | $ 2,679,855 | $ (4,877,162) | $ (42,454) |
Balance (in shares) at Feb. 29, 2016 | 3,552,502 | 1,105,679 | 39,975 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
Cash Flows from Operating Activities: | ||
Net income (loss) | $ (83,229) | $ 103,632 |
Adjustments to reconcile net to net cash (used in) operating activities: | ||
Gain on sale of property | 0 | (192,931) |
Depreciation | 0 | 1,568 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | 0 | 3,409 |
Accounts payable and accrued expenses | 38,646 | (42,379) |
Credit card obligations | (1,393) | (4,294) |
Net cash used in operating activities | (45,976) | (130,995) |
Cash Flows from Investing Activities: | ||
Proceeds from sale of property | 0 | 412,597 |
Net cash provided by investing activities | 0 | 412,597 |
Cash Flows from Financing Activities: | ||
Increase (decrease) in due to related parties | 45,778 | (291,966) |
Net cash provided by (used in) financing activities | 45,778 | (291,966) |
Net Increase (Decrease) in Cash and Cash Equivalents | (198) | (10,364) |
Cash and Cash Equivalents, beginning of year | 614 | 10,978 |
Cash and Cash Equivalents, end of year | 416 | 614 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 1,795 | 66,963 |
Income tax paid | $ 0 | $ 0 |
Description of Business and Bas
Description of Business and Basis of Presentation | 12 Months Ended |
Feb. 29, 2016 | |
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | |
Business Description and Basis Of Presentation [Text Block] | 1. Description of Business and Basis of Presentation United States Basketball League, Inc. (“USBL”) was incorporated in Delaware on May 29, 1984 On October 30, 2014, USBL dissolved its wholly-owned subsidiary, Meisenheimer Capital Real Estate Holdings, Inc. (“MCREH”). MCREH owned a commercial building in Milford, Connecticut until June 19, 2014 (see Note 3). At February 29, 2016, USBL had negative working capital of $ 2,193,179 4,877,162 The Company is making efforts to raise equity capital, revitalize the league and market new franchises. However, there can be no assurance that the Company will be successful in accomplishing its objectives. The consolidated financial statements do not include any adjustments that might be necessary should USBL be unable to continue as a going concern. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Feb. 29, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies The accompanying consolidated financial statements include the accounts of USBL and MCREH (to October 30, 2014). All significant intercompany accounts and transactions have been eliminated in consolidation. The carrying amounts of the Company’s financial instruments, which consist of cash and cash equivalents, accounts payable and accrued expenses, credit card obligations, and due to related parties, approximate their fair value due to their short term nature or based upon values of comparable instruments. 30 The Company generally uses the accrual method of accounting in these financial statements. However, due to the uncertainty of collecting royalty and franchise fees from the franchisees, USBL recorded these revenues upon receipt of cash consideration paid or the performance of related services by the franchisee. Franchise fees earned in nonmonetary transactions were recorded at the fair value of the franchise granted or the service received, based on which value was more readily determinable. Upon the granting of the franchise, the Company had performed essentially all material conditions related to the sale. 1,015,000 As of February 29, 2016, USBL had a net operating loss carryforward of approximately $ 2,900,000 2019 to 2035 USBL and MCREH have filed consolidated Federal and combined separate Connecticut income tax returns. The last returns filed were for the year ended December 31, 2014. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Stock-based compensation is accounted for at fair value in accordance with Accounting Standards Codification (“ASC”) 718, “Compensation Stock Compensation”. No stock options were granted during the years ended February 29, 2016 and February 28, 2015 and none are outstanding at February 29, 2016. 1,105,679 Comprehensive income - |
Gain on Sale of Proptery
Gain on Sale of Proptery | 12 Months Ended |
Feb. 29, 2016 | |
Property, Plant and Equipment [Abstract] | |
Gain on Sale of Proptery [Text Block] | 3. Gain on Sale of Proptery February 28, 2014 Land $ 121,253 Building 155,747 Total 277,000 Less accumulated depreciation (55,766) Property, net $ 221,234 The property was a commercial building owned by MCREH located in Milford, Connecticut. From June 2008 to December 2010, MCREH had no tenants at the property. On February 1, 2012, MCREH executed a Lease Agreement with an unrelated entity (the “Tenant”) to rent the MCREH property (on a Net Lease basis) for a term of 11 months from February 1, 2012 to December 31, 2012 at a monthly rent of $ 3,000 3,150 3,300 On June 19, 2014, the property was sold to two individuals affiliated with the Tenant for $ 420,000 192,931 Sale Price $ 420,000 Selling Costs (7,403) Net proceeds 412,597 Cost of property, net of accumulated depreciation of $57,334 (219,666) Gain on sale of property $ 192,931 |
Due to Related Parties
Due to Related Parties | 12 Months Ended |
Feb. 29, 2016 | |
Due To Related Parties [Abstract] | |
Due to Related Parties [Text Block] | 4. Due to Related Parties February 29, February 28, 2016 2015 USBL loans payable to Spectrum Associates, Inc. (“Spectrum”), a corporation controlled by the two officers of USBL, interest at 6%, due on demand $ 1,233,289 $ 1,184,289 USBL loans payable to the two officers of USBL, interest at 6%, due on demand 523,917 525,111 USBL loans payable to Daniel T. Meisenheimer, Jr. Trust, a trust controlled by the two officers of USBL, non-interest bearing, due on demand 44,100 44,100 MCREH note payable to president of USBL, interest at 7%, due on demand 45,000 45,000 MCREH loan payable to Spectrum, non-interest bearing, due on demand 4,500 4,500 MCREH loan payable to president of USBL, non-interest bearing, due on demand 4,000 4,000 MCREH loan payable to Meisenheimer Capital, Inc., non-interest bearing, due on demand 160,322 162,350 Total $ 2,015,128 $ 1,969,350 For the years ended February 29, 2016 and February 28, 2015, interest due under the USBL loans were waived by the respective lenders. From June 19, 2014 to February 29, 2016, interest due under the $ 45,000 At February 29, 2016 and February 28, 2015, accounts payable and accrued expenses included accrued interest payable to related parties on MCREH notes payable totaling $ 13,562 13,562 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Feb. 29, 2016 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity [Text Block] | 5. Stockholders’ Equity Each share of common stock has one vote. Each share of preferred stock has five votes, is entitled to a 2 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Feb. 29, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions [Text Block] | 6. Related Party Transactions For the years ended February 29, 2016 and February 28, 2015, USBL included in operating expenses rent incurred to Genvest, LLC (an entity controlled by the two officers of USBL) totaling $ 12,000 12,000 |
Commitment and Contingencies
Commitment and Contingencies | 12 Months Ended |
Feb. 29, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitment and Contingencies [Text Block] | 7. 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 entity controlled by the two officers of USBL. Improvements to the Company’s space were completed in February 2008. Pursuant to a verbal agreement, the Company is to pay Genvest monthly rentals of $ 1,000 96,000 84,000 Cancellation of 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016 Seasons USBL cancelled its seasons from 2008 to 2016. These cancellations may result in claims and legal actions from franchisees. Litigation 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 $ 285,000 |
Summary of Significant Accoun14
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 29, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of consolidation - The accompanying consolidated financial statements include the accounts of USBL and MCREH (to October 30, 2014). All significant intercompany accounts and transactions have been eliminated in consolidation. |
Fair Value Measurement, Policy [Policy Text Block] | Fair value disclosures The carrying amounts of the Company’s financial instruments, which consist of cash and cash equivalents, accounts payable and accrued expenses, credit card obligations, and due to related parties, approximate their fair value due to their short term nature or based upon values of comparable instruments. |
Depreciation, Depletion, and Amortization [Policy Text Block] | Depreciation expense 30 |
Revenue Recognition, Policy [Policy Text Block] | Revenue recognition - The Company generally uses the accrual method of accounting in these financial statements. However, due to the uncertainty of collecting royalty and franchise fees from the franchisees, USBL recorded these revenues upon receipt of cash consideration paid or the performance of related services by the franchisee. Franchise fees earned in nonmonetary transactions were recorded at the fair value of the franchise granted or the service received, based on which value was more readily determinable. Upon the granting of the franchise, the Company had performed essentially all material conditions related to the sale. |
Income Tax, Policy [Policy Text Block] | Income taxes - 1,015,000 As of February 29, 2016, USBL had a net operating loss carryforward of approximately $ 2,900,000 2019 to 2035 USBL and MCREH have filed consolidated Federal and combined separate Connecticut income tax returns. The last returns filed were for the year ended December 31, 2014. |
Use of Estimates, Policy [Policy Text Block] | Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Share-based Compensation, Option and Incentive Plans, Director Policy [Policy Text Block] | Stock-based compensation Stock-based compensation is accounted for at fair value in accordance with Accounting Standards Codification (“ASC”) 718, “Compensation Stock Compensation”. No stock options were granted during the years ended February 29, 2016 and February 28, 2015 and none are outstanding at February 29, 2016. |
Earnings Per Share, Policy [Policy Text Block] | Earnings (loss) per common share 1,105,679 |
Comprehensive Income Policy [Policy Text Block] | Comprehensive income - |
Gain on Sale of Proptery (Table
Gain on Sale of Proptery (Tables) | 12 Months Ended |
Feb. 29, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | At February 28, 2014, property, net, consisted of: February 28, 2014 Land $ 121,253 Building 155,747 Total 277,000 Less accumulated depreciation (55,766) Property, net $ 221,234 |
Schedule of gain on sale of property [Table Text Block] | The gain on sale of property was $ 192,931 Sale Price $ 420,000 Selling Costs (7,403) Net proceeds 412,597 Cost of property, net of accumulated depreciation of $57,334 (219,666) Gain on sale of property $ 192,931 |
Due to Related Parties (Tables)
Due to Related Parties (Tables) | 12 Months Ended |
Feb. 29, 2016 | |
Due To Related Parties [Abstract] | |
Due To Related Parties [Table Text Block] | Due to related parties consist of: February 29, February 28, 2016 2015 USBL loans payable to Spectrum Associates, Inc. (“Spectrum”), a corporation controlled by the two officers of USBL, interest at 6%, due on demand $ 1,233,289 $ 1,184,289 USBL loans payable to the two officers of USBL, interest at 6%, due on demand 523,917 525,111 USBL loans payable to Daniel T. Meisenheimer, Jr. Trust, a trust controlled by the two officers of USBL, non-interest bearing, due on demand 44,100 44,100 MCREH note payable to president of USBL, interest at 7%, due on demand 45,000 45,000 MCREH loan payable to Spectrum, non-interest bearing, due on demand 4,500 4,500 MCREH loan payable to president of USBL, non-interest bearing, due on demand 4,000 4,000 MCREH loan payable to Meisenheimer Capital, Inc., non-interest bearing, due on demand 160,322 162,350 Total $ 2,015,128 $ 1,969,350 |
Description of Business and B17
Description of Business and Basis of Presentation (Details Textual) - USD ($) | 12 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
Description Of Business And Basis Of Presentation [Line Items] | ||
Entity Incorporation, Date Of Incorporation | May 29, 1984 | |
Working Capital Deficit | $ 2,193,179 | |
Accumulated losses | $ (4,877,162) | $ (4,793,933) |
Summary of Significant Accoun18
Summary of Significant Accounting Policies (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended |
Jun. 19, 2014 | Feb. 29, 2016 | |
Summary Of Significant Accounting Policies [Line Items] | ||
Property, Plant and Equipment, Useful Life | 30 years | |
Deferred Tax Assets, Valuation Allowance | $ 1,015,000 | |
Operating Loss Carryforwards | $ 2,900,000 | |
Operating Losses Carryforward Expiration Date | 2019 to 2035 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,105,679 |
Gain on Sale of Proptery (Detai
Gain on Sale of Proptery (Details) - USD ($) | Jun. 19, 2014 | Feb. 28, 2014 |
Property, Plant and Equipment [Line Items] | ||
Land | $ 121,253 | |
Building | 155,747 | |
Total | 277,000 | |
Less accumulated depreciation | $ (57,334) | (55,766) |
Property, net | $ 221,234 |
Gain on Sale of Proptery (Det20
Gain on Sale of Proptery (Details 1) - USD ($) | 12 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
Property, Plant and Equipment [Line Items] | ||
Sale Price | $ 420,000 | |
Selling Costs | (7,403) | |
Net proceeds | 412,597 | |
Cost of property, net of accumulated depreciation of $57,334 | (219,666) | |
Gain on sale of property | $ 0 | $ 192,931 |
Gain on Sale of Proptery (Paren
Gain on Sale of Proptery (Parenthetical) (Details 1) - USD ($) | Jun. 19, 2014 | Feb. 28, 2014 |
Property, Plant and Equipment [Line Items] | ||
Accumulated depreciation | $ 57,334 | $ 55,766 |
Gain on Sale of Proptery (Det22
Gain on Sale of Proptery (Details Textual) - USD ($) | 11 Months Ended | 12 Months Ended | ||||
Dec. 31, 2012 | Feb. 29, 2016 | Feb. 28, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 19, 2014 | |
Property, Plant and Equipment [Line Items] | ||||||
Gain (Loss) on Sale of Properties | $ 0 | $ 192,931 | ||||
Tenant [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Options To Renew Lease At Each Monthly Rates Year One | $ 3,150 | |||||
Options To Renew Lease At Each Monthly Rates Year Two | $ 3,300 | |||||
Proceeds From Rents Received | $ 3,000 | |||||
Buyer [Member] | Real Estate Contract [Member] | ||||||
Property, Plant and Equipment [Line Items] | ||||||
Escrow Deposit | $ 420,000 |
Due to Related Parties (Details
Due to Related Parties (Details) - USD ($) | Feb. 29, 2016 | Feb. 28, 2015 |
Related Party Transaction [Line Items] | ||
Total | $ 2,015,128 | $ 1,969,350 |
USBL loans payable to Spectrum Associates, Inc. (“Spectrum”), a corporation controlled by the two officers of USBL, interest at 6%, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | 1,233,289 | 1,184,289 |
USBL loans payable to the two officers of USBL, interest at 6%, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | 523,917 | 525,111 |
USBL loans payable to Daniel T. Meisenheimer, Jr. Trust, a trust controlled by the two officers of USBL, non-interest bearing, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | 44,100 | 44,100 |
MCREH note payable to president of USBL, interest at 7%, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | 45,000 | 45,000 |
MCREH loan payable to Spectrum, non-interest bearing, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | 4,500 | 4,500 |
MCREH loan payable to president of USBL, non-interest bearing, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | 4,000 | 4,000 |
MCREH loan payable to Meisenheimer Capital, Inc. (“MCI”), non-interest bearing, due on demand | ||
Related Party Transaction [Line Items] | ||
Total | $ 160,322 | $ 162,350 |
Due to Related Parties (Parenth
Due to Related Parties (Parenthetical) (Details) | Feb. 29, 2016 | Feb. 28, 2015 |
USBL loans payable to Spectrum Associates, Inc. (“Spectrum”), a corporation controlled by the two officers of USBL, interest at 6%, due on demand | ||
Related Party Transaction [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% |
USBL loans payable to the two officers of USBL, interest at 6%, due on demand | ||
Related Party Transaction [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% |
MCREH note payable to president of USBL, interest at 7%, due on demand | ||
Related Party Transaction [Line Items] | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.00% | 7.00% |
Due to Related Parties (Detai25
Due to Related Parties (Details Textual) - USD ($) | 12 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
Related Party Transaction [Line Items] | ||
Notes Payable, Related Parties | $ 13,562 | $ 13,562 |
MCREH Note Payable [Member] | ||
Related Party Transaction [Line Items] | ||
Interest Expense, Related Party | $ 45,000 |
Stockholders' Equity (Details T
Stockholders' Equity (Details Textual) | 12 Months Ended |
Feb. 29, 2016 | |
Class of Stock [Line Items] | |
Preferred Stock, Dividend Rate, Percentage | 2.00% |
Related Party Transactions (Det
Related Party Transactions (Details Textual) - USD ($) | 12 Months Ended | |
Feb. 29, 2016 | Feb. 28, 2015 | |
Genvest Llc [Member] | ||
Related Party Transaction [Line Items] | ||
Other Cost and Expense, Operating | $ 12,000 | $ 12,000 |
Commitment and Contingencies (D
Commitment and Contingencies (Details Textual) - USD ($) | 1 Months Ended | |||
Jun. 30, 2008 | Mar. 31, 2008 | Feb. 29, 2016 | Feb. 28, 2015 | |
Genvest Llc [Member] | ||||
Loss Contingencies [Line Items] | ||||
Accrued Rent | $ 96,000 | $ 84,000 | ||
Albany Patroons Inc [Member] | ||||
Loss Contingencies [Line Items] | ||||
Loss Contingency, Damages Sought, Value | $ 285,000 | |||
Occupancy Agreement [Member] | ||||
Loss Contingencies [Line Items] | ||||
Proceeds from Rents Received | $ 1,000 |