ProElite, Inc. (fka PELE)

[Hole shot King]

I think they have a lot going on and I will bring up the 8k from Feb 11/09 and will high light one thing I think is in the gate

Los Angeles, CA, February 5, 2009 – ProElite, Inc. (OTB:PELE.PK) said today that it has sold a portion of its EliteXC assets to
Strikeforce ® , its co-promoter for some of the biggest and most widely watched televised mixed martial arts (MMA) events on CBS and
SHOWTIME ® .
With the deal closed, ProElite has retired its entire debt obligation to Showtime and Showtime will remain a significant shareholder in
ProElite.
Strikeforce ® is acquiring certain EliteXC fighter contracts and a library of televised EliteXC events.
“With the sale, ProElite can now operate substantially debt free,” said ProElite CEO Chuck Champion, “and devote more resources to
the development of our King of the Cage brand which founder Terry Trebilcock has managed profitably from its inception. Terry is one of the
most capable leaders in the MMA space. He’s staged hundreds of successful events and I’m confident that under his guidance King of the
Cage will continue to be a major force in the sport.”
Champion said that he was excited for the talented fighters that were part of EliteXC and are now joining Strikeforce. “Strikeforce is
a highly regarded producer of live events and it will no doubt create substantial opportunities for its new athletes,” he said.
“Getting to this point has been a long hard road and I’m grateful to Showtime, Strikeforce, the fighters and their managers for their
patience and their perseverance,” Champion concluded. “The company has managed its way through a very difficult time and it has done so in
a way that has built bridges rather than burn them. Everyone involved deserves a lot of credit for the outcome.”
Following the sale, ProElite will continue to own the EliteXC brand. Among ProElite’s other significant assets are a host of
international MMA brands such as Spirit MC, an extensive library of MMA events, and its community-driven interactive broadband
entertainment website. The company also is co-producing a new reality show with Mark Burnett, the visionary force behind reality TV in the
United States.

IMO it is the Ultimate women's challenge and it is being held back for a big roll out of pro and stratus

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