According to an SEC filing (a public companies' financial statement or other formal document submitted to the US Securities and Exchange Commission) by ProElite, Inc. on Thursday, the company is refusing to close its doors without a fight.

On October 31, the company received a notice from Showtime Networks announcing the sale of ProElite assets at a public auction. On November 4, the cable network made an SEC filing announcing the sale and placed ads on several MMA websites advertising it. Showtime's Senior Vice President of Sports and Event Programming, Ken Hershman, also sits on ProElite's board of directors.

In line with a recent letter to fighter managers promising a return in early 2009, ProElite said it would do everything in its power to stay off the auctioning block.

"The Company plans to take all appropriate measures to prevent the sale from occurring," the filing states. "Such measures may include raising additional financing, filing a lawsuit enjoining the sale, filing a bankruptcy petition or negotiating a settlement with Showtime. There can be no assurances that the company will be successful in any of these actions."

According to some sources, ProElite's first tactic may be to sue CBS Networks over gate revenue produced by its third show, "Heat". The embattled company could argue the network forced them into default on a one million dollar loan from Showtime by misrouting the funds from the Sunrise, Florida, show.

A condition of Showtime's loan, dated June 18, said ProElite's assets could be sold or taken over if it did not maintain $550,000 in cash reserves.

"CBS took the gate revenue directly from Miami, and it was contracted to go through ProElite first," a source said. "If that had happened at the time that (Showtime) called in the note, there would have been enough money that they couldn't have called in the note. So there's a legal argument there."

"ProElite's claim would be that they could have raised the money in that time, but once Showtime called in that note, publicly, it ruined any chances of raising money."

An SEC filing on December 9 detailed an agreement between CBS and ProElite where CBS would cover all costs associated with the show, and "receive" all revenue from the event, though details on how that would occur were not specified.

The question now is whether ProElite can afford to go to battle with CBS in a civil court.

Requests to CBS and ProElite representatives asking for comment were not immediately returned.

The auction, however, could possibly determine the futures of fighters like Kimbo Slice, Gina Carano, Jake Shields, Robbie Lawler, Frank Shamrock, Nick Diaz, Cristiane Santos, Yves Edwards, Wilson Reis and many others.

The Sun Sentinel is reporting an interesting piece of information as they caught up with Kimbo Slice, who was at one of his kid's career days at school. Slice apparently is talking to his agent and considering fighting at K-1 Dynamite!! 2008 which will be held on December 31 at Saitama Super Arena in Saitama, Japan. His opponent would be none other than Seth Petruzelli.

The October 4th main event between Kimbo Slice and Petruzelli would always be known as the final nail in the coffin for ProElite, but now Slice may get his only chance to avenge his 14 second loss to Petruzelli.

Here's what the Sun Sentinel is saying:
"He may fight on the DREAM K-1 New Year's Eve show in Japan, possibly a rematch with Petruzelli."

From The MMA News:

In the world of mixed martial arts, Frank Shamrock has done it all. Shamrock’s been the Interim King of Pancrase champion, won the UFC light heavyweight title, then won the WEC light heavyweight title which he vacated to win the Strikeforce middleweight championship which he only recently lost to Cung Le. The MMA News recently had a talk with Shamrock and here’s what was said:

The MMA News: How’s your injury and what’s the update on your overall condition?

Frank Shamrock: I’m cleared so the arm is back to normal. I’m training at about 60% now.

The MMA News: Are you still looking to fight this year?

Frank Shamrock: I’m looking for a fight in November if I can get all the cards in place. I’m trying to pick a fight with Robbie Lawler.

The MMA News: How many fights do you have left on your contract?

Frank Shamrock: With Strikeforce I have one, with Pro-Elite I have two more.

The MMA News: Do you find that you don’t always get the credit for helping to innovate MMA conditioning to the levels that it has achieved now?

Frank Shamrock: I don’t know. I mean I don’t know if I need credit but I was at the forefront of it for a long time. Even now I think I’m still pretty advanced with what’s going on. The sport grows so fast and the history of it is so cloudy that I’m just glad that guys are in good shape and the level of athletism continues to grow.

The MMA News: What’s going on with you outside MMA?

Frank Shamrock: It’s all about the kids.

The MMA News: How’s the commentating with CBS working out?

Frank Shamrock: I’m the official CBS MMA expert guy. I’ve signed up for 4-6 a year, and I put a lot of juice into it.

The MMA News: What’s your take on Kimbo Slice?

Frank Shamrock: He’s generally a nice guy. He’s medium skilled but he’s dedicated. If you can’t be the best at least you can make the best of the opportunity.

The MMA News: How about Fedor Emelianenko?

Frank Shamrock: I’ve met him on a couple of occasions and he’s the nicest guy in the world. He’s a fan of mine, and he’s so nice and respectful. He’s always been wonderful to me.

The MMA News: How was Affliction:Banned for you?

Frank Shamrock: I had a blast at the show.

The MMA News: How’s your relationship with Ken?

Frank Shamrock: I don’t think we’ll ever be okay. We grew up weird. Ken and I grew up in the media in a sport that was just like the wild west and we’re totally different people.

The MMA News: Are you still looking at trying to fight Ken?

Frank Shamrock: Yes. The first quarter of ‘09 is when we’re looking at making it, and I think we’re on schedule to do that.

The MMA News: How about Tito Ortiz?

Frank Shamrock: I talked to Tito about it and he was pretty game. I think it’s going to happen and I think that Affliction will play a big part in that.

The MMA News: Where Is MMA headed?

Frank Shamrock: I think that the media property outside the industry will spur mainstream attention to what we’re doing. I don’t think it’s necessarily going to be the fighting itself, but perhaps a book or a docu-drama that will bring the attention and push the sport to the next level

The MMA News: Other than yourself who would you say is the pound for pound best fighter in the world.

Frank Shamrock: Probably for popularity I would say GSP or Anderson Silva. It’s so funny because I’ve been that guy on multiple occasions and all of a sudden you’re not that guy and you think “Wow that’s interesting” and you eventually learn it doesn’t mean anything. At one point I was the highest paid fighter per second and the best pound for pound fighter in the world and we had the smallest audience ever. Does it really mean all that much? I just smile because next year there’ll be another guy.

The MMA News: Give us some last words, first for your fans and then for your opponents.

Frank Shamrock: For the fans: Keep working out, keep training. For my opponents: Keep working out, keep training.