ProElite, Inc. (fka PELE)

[Lighthouse]

UPDATE TIME FOLKS...

I just spoke with Chuck Bearschell of smdi/pele

The latests on the DTCC hold is as follows.

The sec legal matter has been closed and no action has been taken by the sec against any of the trading companies involved.

As far as smdi/pele is concerned they do not have anything further to do to satisfy the dtcc to reinstate electronic trading.

Having said that, he said that they haven't been able to gain headway with the dtcc in removing the lock by just using their legal counsel soooooo....

a week ago they hired a dtcc member firm to represent them and basically stand behind pele in this matter and take responsibility for their actions moving forward.

The dtcc member firm said this process usually takes 2-4 weeks and they have been working on this for a week now.

you are now up to date...