ProElite, Inc. (fka PELE)

[DalaiTom]

Sounds like Mr. Blech will be joining us as a major shareholder.


Form 8-K for STRATUS MEDIA GROUP, INC

31-Jan-2012

Creation of a Direct Financial Obligation or an Obligation under an Off-



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On January 25, 2012, The Company issued to Isaac Blech a promissory note (the "Note") in the principal amount of $1,000,000. The Note bears interest at an annual rate of 0.19% with principal and interest due on the earlier to occur 120 days from the date of the Note or the receipt by the Company of net proceeds of $1,000,000 from a private placement of the Company's securities. In consideration of the loan to the Company, the Company issued a five year option to Mr. Blech to purchase from the Company 82,784,000 shares of the Common Stock of ProElite, inc.("PEI") owned by the Company. The option shares represent approximately 4.99% of the outstanding shares of PEI after giving effect to the conversion of PEI's Series A Convertible Preferred Stock owned by the Company.



http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8365429