Sam Caplan at Fiveouncesopain.com has the scoop:
In recent hours FiveOuncesOfPain.com has been informed by sources that ProElite, Inc. has accepted a bid to sell its assets to an outside company.
However, Five Ounces of Pain has been unable to verify the identity of that company. It is also unclear whether the company came close to receiving its asking price of $9 million. An announcement could be made by the end of business on Thursday, or possibly on Monday.
Several companies have submitted formal bids to ProElite in recent weeks, with the company believed to have set a Thursday deadline to decide on a buyer. Sources have indicated that if a bid was not accepted soon, ProElite would not have had enough money to continue operations and likely would have filed for bankruptcy.
To continue reading click HERE