Is it possible to use my modem to extend any USB hardware?

Using Windows 7 x64 Ultimate and an AT&T (Motorola) router 5031NV.

I want to use my USB devices in another room. I am already connected via Etheet cable to the router and was wondering whether, instead of a NAS, it would be possible to use any USB device or even a USB splitter (Connected to the router)?

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