Play video content EXCLUSIVE TMZSports.com

Dana White has an update on the status of the Conor McGregor/Floyd Mayweather ﻿megafight ... "WE ARE NOWHERE."

TMZ Sports saw Dana out in L.A. Friday afternoon ... and asked if there has been any progress made in the negotiation.

FYI -- Dana, Floyd, and Conor are all in Los Angeles.

The answer, no.

In addition to telling us who Conor definitely will not fight next ... the UFC honcho also breaks down with who and when Conor will next step into the Octagon.