Since Folding Does the SEC Require Disclosure?

[barkley34]

Since the USBL has ceased to exist for all intents and purposes and has less cash on hand then the ABA and no teams to speak of, aren't they required by SEC law to make an announcement to the public? Silence is not an option they can utilize. Lets be real, the league is through and they had a very good run....for the most part, but their silence is deafening.

[nksports]

As long as they are on the bulliten board (.ob), they have to keep filing their financial statements. If they drop to the pink sheets (.pk), they don't really have to file anything (unless state laws where they are doing business require otherwise).
You don't actually have to do anything to have a stock listed (below NYSE, ASE or main NASDAQ).