Showtime loans ProElite $3M To Prepare for Next CBS Show

[Clint]

The ProElite SEC filings are out here:
Pro Elite: Investor Relations: SEC Filings

My understanding of them is that Showtime loaned ProElite $3M. In turn ProElite owes Showtime $3.5M and starting June 17, 2009 a 10% interest rate will start. Also Showtime bought 100,000 shares of ProElite stock at $0.01 each


The way I see it the CBS deal is becoming more and more make or break for them. If they catch a break they will be in a very solid position to compete but if that doesn't happen so, they can only continue to go so far into debt. This loan is giving them the chance they need but they have to succeed to continue

[POINDEXTER]

The shit appears to be hitting the fan.

[jlruthven84]

Originally Posted by POINDEXTER

The shit appears to be hitting the fan.

And Gary Shaw has quite the stink about him.

[Gr8_White_Rabbit]

I guess they needed more cash for rappers, dancers and fireworks.

[Healzyou]

Their dancers can't even dance. It's like they posted a want ad at the local community college.