ShellStockReview.com

Member Login

Forum - Latest Posts

  • No posts to display.
Welcome, Guest
Username: Password: Remember me

TOPIC: PETE Pro Elite, Inc.

PETE Pro Elite, Inc. 10 years 11 months ago #1067

  • azzman
  • azzman's Avatar
  • OFFLINE
  • Junior Boarder
  • Posts: 25
  • Karma: 0
[Re: PETE Pro Elite, Inc.]
500:1 Reverse split. symbol change to PELE

50 x 50 for now...
The administrator has disabled public write access.

PETE Pro Elite, Inc. 11 years 1 week ago #1035

  • azzman
  • azzman's Avatar
  • OFFLINE
  • Junior Boarder
  • Posts: 25
  • Karma: 0
[PETE Pro Elite, Inc.]
Pro Elite, Inc Acquires Real Sports, Inc.

Raises $10 Million

SANTA MONICA, Calif., Oct 9, 2006 (PrimeZone Media Network via COMTEX) -- Pro Elite, Inc. (Pink Sheets:PETE) announced today the acquisition of Real Sport, Inc. through an exchange of stock (reverse merger) with the shareholders of Real Sport, Inc. Concurrently with the closing of the reverse merger, Pro Elite, Inc. (the "Company") raised $10 million in gross proceeds from institutional investors in a private placement of units. Each unit consisted of 1,500 shares of common stock and one three-year warrant to purchase 500 shares of common stock with an exercise price of $.004 per share. The purchase price of a unit was $3.00. Hunter World Markets, Inc. of Beverly Hills, Calif., acted as the Company's sole placement agent. After giving effect to the private placement and the Reverse Merger, the investors in the private placement received approximately 27% of the outstanding stock of Pro Elite, Inc., and the shareholders of Real Sport, Inc. received approximately 66% of the outstanding stock (prior to any shares of common stock issuable upon exercise of outstanding warrants and options).

The spread: .15 x .51
no volume today

does it matter that the sec filings for this company is almost nil?
The administrator has disabled public write access.
Moderators: Editor
Time to create page: 0.105 seconds