SHELBY VET: Should This Have Counted As A Shooting Foul? | Bill Treece's Circus Shot

It was a tie game, 69-69, with seconds left, Bulls Bill Treece was fouled by Thunders Shawn Graham. As the whistle blew, Bill Treece threw up an amazing shot, that went in. The referee's called a " on the floor foul". We play by college rules, so there is no continuation here at Ultimate Hoops Shelby. The Thunder weren't in foul trouble, so with that foul and the basket waived off with only a few seconds left, the Bulls had to take the ball out on he sideline. They didn't convert, the game went to overtime, where the Thunder completed a huge upset, to stun the Bulls and win. Here is the video of the shot, should this have counted? Here is a video in real time and slow motion, you be the judge.