PROELITE, INC.'s SEC filing
Hey, I posted this in the UFC section on a thread about competition. I didn't see it in the last week plus in the EliteXC section, so I thought you guys may want to see it. It's the annual financial report of PROELITE, INC, the parent company of EliteXC. I don't usually read these things unless I'm getting paid for it, but I was curious about the MMA promotions business so I skimmed most of the report. If you're not into this kind of stuff here are some interesting sections.
Shareholders: page 39
Balance Sheet: F-3 (section F is right after page 43)
Income Statement: F-4
Cash Flow: F-6
Segment Info: F-29
CBS Broadcast Agreement: page 1 (after section F and an index numbered 31-33)
Anyway, my bad if this has already been posted. But I can answer a few questions if anyone has any.
They lost $27,000,000 in 2007 and $4,000,000 in 2006. So they are nicely in the hole to the tune of $31,000,000 +. I give them one more year then they are done. There is only room in the USA for one big organization. They should have tried to start up in Japan.
DREAM should do well because it is a totally different product, wrapped in a different wrapper for a very different audience on the other side of the world. Plus Japan was in need as PRIDE left.
I dont think they'll go out that easily. CBS has a LOT of money, and they may let them sink or swim for a couple years
Yeah, that's possible. CBS already exercised options to the tune of 2 Mil shares of ProElite for a total of $4 Mil. Showtime (a CBS subsidiary) already owned over 9 Mil shares. That is a pretty big investment, and CBS has to pay ProElite for four shows whether they broadcast them or not. So I imagine the ratings for the shows would have to be pretty bad for us to not see at least two of them. Unless the per show payment is very small AND the rating is terrible, I think CBS will show all four.
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