Good, Bad News For Pro Elite

This can probably be filed under “Unexplained” as there is good and bad news coming from ProElite, according to Sam Caplan of FiveOuncesOfPain.com.  First the bad news: Not only did EliteXC cancel their September 20 show in New Mexico, but ProElite (parent company of EliteXC) also cancelled their “Contenders 11” show in the United Kingdom that had been scheduled for today, as well.  Contenders is the “B” brand of Cage Rage.  Several layoffs have occurred at Cage Rage as they’re down to only 3 full-time employees.

In addition, ProElite also filed a notice with the Securities Exchange Commission informing them that they will be late in filing their 10-Q quarterly report for the fiscal second quarter which ended June 30.  According to the filing request, ProElite intends to file the report on or about August 19.  Now the good news:  In light of these developments, ProElite’s stock price actually rose in price as it jumped from $2.50 to $8.00 a share on Friday; there’s no explanation for the sudden jump in price, but it seems there’s something funny or strange going on over at ProElite corporate.  When more developments in this very strange episode involving ProElite become available, Octagon Buzz will have them here for you, as well as all of the up-to-date MMA news.

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One Response to “Good, Bad News For Pro Elite”

  1. […] I had reported that ProElite had cancelled 2 shows – an EliteXC event in Albuquerque, NM and a Cage Rage “Contende…; it has been learned from MMAjunkie.com that Cage Rage officials have claimed that the Cage Rage […]

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