SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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1. Name and Address of Reporting Person*
CBS CORP

(Last) (First) (Middle)
51 WEST 52ND STREET

(Street)
NEW YORK NY 10019

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/14/2007
3. Issuer Name and Ticker or Trading Symbol
PRO ELITE INC [ PETE ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 5,000,001 I Indirect(1)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant (2) 01/03/2014 Common Stock 2,500,000 2 I Indirect(1)
Warrant No. 2 (2) 01/03/2010 Common Stock 1,666,667 2 I Indirect(1)
Warrant No. 3 (3) 01/03/2012 Common Stock 2,500,000 2 I Indirect(1)
1. Name and Address of Reporting Person*
CBS CORP

(Last) (First) (Middle)
51 WEST 52ND STREET

(Street)
NEW YORK NY 10019

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Showtime Networks Inc.

(Last) (First) (Middle)
C/O CBS CORPORATION
51 WEST 52ND STREET

(Street)
NEW YORK NY 10019

(City) (State) (Zip)
1. Name and Address of Reporting Person*
CBS Operations Inc.

(Last) (First) (Middle)
C/O CBS CORPORATION
51 WEST 52ND STREET

(Street)
NEW YORK NY 10019

(City) (State) (Zip)
1. Name and Address of Reporting Person*
NAIRI INC

(Last) (First) (Middle)
200 ELM STREET

(Street)
DEDHAM MA 02026

(City) (State) (Zip)
1. Name and Address of Reporting Person*
NATIONAL AMUSEMENTS INC /MD/

(Last) (First) (Middle)
200 ELM STREET

(Street)
DEDHAM MA 02026

(City) (State) (Zip)
1. Name and Address of Reporting Person*
REDSTONE SUMNER M

(Last) (First) (Middle)
C/O CBS CORPORATION
51 WEST 52ND STREET

(Street)
NEW YORK NY 10019

(City) (State) (Zip)
Explanation of Responses:
1. The Common Stock and the Warrants are held by Showtime Networks Inc. (SNI), a wholly-owned subsidiary of CBS Operations Inc., which in turn is a wholly-owned subsidiary of CBS Corporation, amd may also be deemed to be beneficially owned by (a) NAIRI, Inc. (NAIRI), which owns approximately 76% of CBS Corporation's voting stock, (b) NAIRI's parent corporation, National Amusements, Inc. ("NAI"), and (c) Sumner M. Redstone, who is the controlling stockholder of NAI.
2. Current
3. This Warrant is exercisable the earlier of (a) November 8, 2009 and (b) the termination, under certain circumstances, of a certain agreement between the Issuer and SNI.
Remarks:
By: Angeline C. Straka, SVP and Secretary 05/14/2007
By: Angeline C. Straka, SVP and Secretary 05/14/2007
By: Angeline C. Straka, SVP and Secretary 05/14/2007
By: Sumner M. Redstone, Chairman & President 05/14/2007
By: Sumner M. Redstone, Chairman & CEO 05/14/2007
/s/ Redstone, Sumner M. 05/14/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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