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EliteXC Lost Over 27 Million In 2007

EliteXC reported $27,584,500 in losses for 2007 in the company’s annual report. The company has now lost $31,834,355 between its inception and 12/31.

In money spent, the company paid $3.25 million to fully acquire King of the Cage, $4.1 million for Mixed Martial Arts, Ltd., $400,000 for ownership of Future Fights (ICON in Hawaii), and $1 million for partial ownership of Entlian Corporation (Spirit MC in South Korea).

EliteXC cut back on expenses by reducing the number of staff with staff layoffs in January.