Business As Usual for King of the Cage?

Despite the downfall of ProElite and EliteXC, King of the Cage, via the following press release on their website on Tuesday, says that it will continue operations as normal, despite being a subsidiary of ProElite:

King of the Cage, Inc. (KOTC) is fully aware of the reports surrounding the financial difficulties of ProElite, Inc. (PE) and the reports that PE has filed or may soon file a bankruptcy case. KOTC is currently reviewing and investigating the situation and has determined that no bankruptcy case has yet been filed by PE . Although KOTC is a wholly owned subsidiary of PE, it has maintained its own independent operational structure since its acquisition by PE. While there may be some short term impact on KOTC’s operations, KOTC intends to fulfill all of its existing obligations and to conduct all of its scheduled events. KOTC further intends to resume normal business operations as quickly as possible and to continue to grow its brand as it has for the past 10 years. We will provide further updates as more information becomes available.