Tuesday, May 24, 2022

ProElite Cancels Show In England, Second This Week

Sam Caplan over at Fiveouncesofpain.com has some interesting information regarding the happenings at ProElite these days. Things arn't looking on the upside for the company, and Sam breaks down some numbers:

In addition to EliteXC canceling its planned Sept. 20 event in Albuquerque, N.M., we are receiving word that its parent company, ProElite, has also called off a “Contenders 11” event in the UK that had been scheduled for today. “Contenders” is the “B” brand of Cage Rage, which was acquired by ProElite last year. Several layoffs have also taken place with Cage Rage now down to just three full-time employees.

ProElite also filed a notice with the SEC that they will be late in filing their 10-Q quarterly report for the fiscal second quarter that ended June 30. According to the extension request, ProElite intends to file their second quarter report on Aug. 19.

In other ProElite-related corporate, the company’s stock (PELE.PK) jumped from $2.50/share to $8.00 on Friday. That’s an increase of $5.50 in just one day. There’s no word why the stock suddenly jumped 220% in one day. I could speculate, but I won’t. But I think it’s obvious that something is going on behind the scenes.

EliteXC has a big show coming up on October 4th on CBS that will feature Kimbo Slice in the main event of the evening as well as have two women's matchups on the card, “Ninja” Rua is also scheduled to be on the card as MMANews.com learned a few weeks ago.

It should be interesting to see what happens over the next few weeks but like Caplan says, it's obvious something is going on.

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