ProElite, Inc. (fka PELE)

[foozen]

Does ProElite own King of the Cage? Is Terry Trebilcock trying to buy it back or does he own it?

- If Geer’s comments are valid, there remains the possibility that ProElite never completed purchasing King of the Cage either. However this new development brings a question to my mind: If ProElite technically never owned Cage Rage or possibly King of the Cage, why are Geer and Terry Trebilcock going through so much trouble in trying to re-acquire their promotions. Don’t they still technically own them? http://www.mmaontap.com/mma/category/King-of-the-Cage/

In Feb. Champion makes it sound like ProElite is the sole owner of King of the Cage.

Champion: ProElite as a company will focus on those assets that are making money, which is principally King of the Cage.

There are a few other issues outstanding that will need to be resolved ... but there is capital in the bank in order to be able to do that. So, we'll look for what we do next, now. But this basically takes the company and makes it debt free, dispute free, litigation free. And we have an opportunity to concentrate on King of the Cage and other assets.


OLD NEWS!! Ultimate Challenge show this past weekend revealed that although Cage Rage had been purchased by ProElite, they hadn’t actually paid for it before going under.

Geer explains the situation, “To all intents and purposes, ProElite had entered into an agreement to purchase Cage Rage. A deal was struck with a deposit accepted. Then they had a cut-off date to make a balloon payment; they never completed the purchase.”

If Geer’s comments are valid, there remains the possibility that ProElite never completed purchasing King of the Cage either. However this new development brings a question to my mind: If ProElite technically never owned Cage Rage or possibly King of the Cage, why are Geer and Terry Trebilcock going through so much trouble in trying to re-acquire their promotions. Don’t they still technically own them?