This has not been officially confirmed by Elite XC, but has been said in a post on a website by Graciefighter.com. Graciefighter have fighters on their roster who were employed by Elite XC, such as Nick Diaz, so there is some credibility to the rumor.
The company is said to have lost over $55 million since it began in 2006. Elite XC's CBS shows made them no money as the costs and revenues were picked up by CBS.
I will bring you more info on this story as it breaks.