Major League Football (MLFB) has been slowly, but surely working towards bring their product to market. Originally announced in 2014, the league seems to be inching closer to their goal.
It had been a while since we had heard from the league, but last month MLFB broke their silence by putting out a release detailing the cities they were considering. When MLFB hits the field, they’re planning on launching with six franchises; which could be in one of the following locations:
Little Rock, Arkansas
Norfolk-Virginia Beach, VA
Canton-Massillon, Ohio (Hall of Fame Stadium)
San Antonio, Texas
Oklahoma City, Oklahoma
Less than a month later, we have another press release from MLFB, this time detailing financing for the league. If you’ve been following spring football, you know that’s it’s biggest Achilles heel is funding. If MLFB wants a chance to hit the field, and stick around, they’re going to need a lot of capital.
The release announces that President and CEO, Frank Murtha, has sold a “Convertible Senior Note coupled with Warrants for 15,000,000 shares at .03 cents and 10,000,000 shares at .035 cents per share to an institutional investor“. If you’re not aware, a senior convertible note is a debt security that contains an option in which the note will be converted into a predefined amount of the issuer’s shares. Additionally, a senior convertible note has priority over all other debt securities issued by the same organization.
The release also re-affirms that the league is hoping to kickoff in 2022, with training camps staring in April.
With the USFL kicking off in 2022 and the XFL returning in 2023; do you think there’s enough room for MLFB? Let us know down in the comments below or join the conversation on Discord.
LAKEWOOD RANCH, FL / ACCESSWIRE / December 1, 2021 / Frank Murtha, President and CEO of Major League Football, Inc. (OTC PINK:MLFB) announced today that it had sold a Convertible Senior Note coupled with Warrants for 15,000,000 shares at .03 cents and 10,000,000 shares at .035 cents per share to an institutional investor. The transaction supports the plan to conduct a 2022 playing season beginning with training camp in Lakewood Ranch, FL in April 2022. The transaction closed on November 29th, 2021. Murtha also announced that the search for new and expanded corporate offices in Lakewood Ranch, FL is underway. This facility will house League executives and key staff. MLFB is simultaneously evaluating office space and facilities in its franchise cities.
MLFB’s next Quarterly Filing is due December 15, 2021