ProElite, Inc. (fka PELE)

[DalaiTom]

We're not talking about the current share structure. You've got to remember this part of the purchase agreement:

...the Company agreed to sell to SMGI, and SMGI agreed to purchase from the Company, shares of the Company's Series A Preferred Stock (the "Preferred Shares"). The Preferred Shares are convertible into the Common Stock of the Company. The amount of shares of Common Stock issuable upon conversion on a cumulative basis is equal to 95% of the sum of (a) the issued and outstanding shares of the Company as of the closing plus (b) any shares of the Company's Common Stock issued after the closing upon exercise or conversion of any derivative securities of the Company outstanding as of the closing, subject to any adjustment for stock splits, stock dividends, recapitalizations etc. and, in all cases, after giving effect to the shares issuable upon conversion of the Preferred Shares.

That will in itself change the current share structure. It just depends on what Stratus plans to do with those shares that matters.