Once again the IFL and EliteXC filed notice that they wouldn’t have their end of quarter reports ready. And as usual, the IFL’s excuse was that they fired everyone that would normally do it and still haven’t organized replacements. EliteXC’s excuse is a little more upbeat though:
The Company has been meeting with potential financiers regarding significant funding. The Company’s management and accounting department have dedicated significant time toward due diligence and other requirements of those entities investigating the Company as a possible investment. The time dedicated to these due diligence processes left the Company unable to complete the consolidated financial reporting needed to file with the Securities and Exchange Commission by the deadline without unreasonable effort and expense.
This would be all well and good if the MMA Payout article didn’t also state that without this magic investment money, EliteXC will be on the edge of complete ruin. I think we all knew that the May 31st show is an important date for MMA and EliteXC, but not to the point where shitty ratings would result in a possible ‘Closed’ sign on the door the next day.