Five Ounces of Pain » u http://fiveouncesofpain.com Your Destination for Insider MMA News and Opinion Sun, 12 Feb 2012 22:00:37 +0000 hourly 1 http://wordpress.org/?v=3.0.4 Strange happenings for ProElite http://fiveouncesofpain.com/2008/08/16/strange-happenings-for-proelite/ http://fiveouncesofpain.com/2008/08/16/strange-happenings-for-proelite/#comments Sat, 16 Aug 2008 12:15:48 +0000 Sam Caplan http://fiveouncesofpain.com/?p=5461 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.

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