Wrong! LOL! Just because a separate company Reports on Interests or Holdings with a Consolidated Financial Statement that effectively means nothing!
Subsidiary in its Legal definition only means that a company owns or controls more than 50% of the Stock it does not mean they are in any way a "Wholly Owned Subsidiary" or that they have Legally Merged as that would has been stated and Legally Recognized as such and this is and not been the case. Every Legal mention of ProEltie mentioned anywhere and everywhere including recent cases reflecting Legal Filing with the SEC have solely mentioned Proelite Inc.
As I have previously stated very clearly Stratus are large Shareholders! Nothing more! Anything suggesting otherwise is ridiculous and completely fabricated.
For the record, I am sure CBS who also continue to be a substantial Shareholder along with many others provide a Consolidated Financial Statement for all of their Interests as do I and every other Shareholder of ProElite, none of them say Stratus Media Group anywhere.
The US Government itself and most importantly the SEC see them as completely Separate Entities, they then by every definition are separate Legal entities.
The have 2 Separate Boards, 2 Separate Management Teams and most importantly 2 Separate Groups of Shareholders who own interests in the individual company's which are separate by every definition possible, there is no other point to be made.
Until CBS's( Who also continue to be substantial Shareholders ), Frank Sharmrock's, mine and every other Shareholders Shares Read and are directly identified as Stratus Media Group, a single company does not exist. There is no other point.
Who knows with Stratus may choose to sell their Stock and Interests in ProElite to someone else which they could do without selling whatever the rest of the company is, and we would again parts ways just as they bought them along with every other Shareholder.
There are 2 Company's! To that point there is no Question!
Again I say they are nothing more than Shareholders until we see one Company, one Symbol, one Board and one group of Shareholders. IMO. I continue to believe there is value ProElite and it's product and I cannot speak of or for Stratus.
Go ProElite!
AI
