Patrick McDermott/Getty Images(NEW YORK) -- NBA owners and locked-out players are talking again Thursday after meeting for 12 hours on Wednesday.  The league had imposed a 5 p.m. ET deadline on Wednesday for the players to accept their latest offer, but the two sides continued to talk.

"Nothing was worked out today," NBA commissioner David Stern said after Wednesday's talks.  "We're not failing and we're not succeeding. We're just there."

NBA Players Association president Derek Fisher echoed that same sentiment.

"We can't say that there was significant progress made," Fisher said.

The two sides continue to negotiate over how all basketball-related income should be divided.

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