Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
That's funny
You should post that list though
FYI: MLHC has been removed from the Huge Authorized Increase Warning list
I have no idea. The circulated list still has MLHC showing at 10billion rather than at 2.5billion.
Will look into it though.
MLHC needs to get off that Warning Increased AUthorized/dilution List that gets posted multiple times per week as it still has the initially filed/announced Authorized of ten billion rather than the 2.5 billion it ended up being. That def14c from last fall is what keeps them on that Warning List as filings stopped after that.
That is unless they plan to increase up to that ridiculous amount......
MLHC 's new product should start to pull in excess of 250k per month in revenue this month according to shareholder letter. Let's hope we see evidence of that success in the Q for this quarter. This quarter, Q1 to end September 30th.
Here's a recap of the letter which includes the new product projections:
July 13, 2015
Shareholder Letter
To begin we want to inform our shareholders of the exciting news that our preliminary unaudited results for the year ended 6/30/2015 reflect a profit and positive EBITDA. Although Revenues are lower than in 2014 as a result of our planned reduction in revenue from the machine sales division and our move, we reduced overhead significantly and coupled with earnings from our new business financial services division have given the Company a much improved position.
It is important that our shareholders know about our last eighteen months but before we begin our update on the progress the Company has made, we wanted to first thank all our shareholders for sticking with the Company during this transition to overall profitability.
As we all know, it has been an extremely difficult 12 to 18 months but we feel that we are now closing in on the completion of various transactions that will change the future of this Company.
First we are proud to say that our internal 12 point plan to profitability, mentioned in press releases, is close to completion and is described below:
12 Point Plan:
Step#1, We reinvigorated management and its employees so that a “new attitude” could emerge in M Line by taking away the “image” that the graveyard was not on the horizon and that this company, despite all of its problems, will be successful.
Step #2, Our Cash flow needed more focus and improvement, first by concentrating on regaining customer endorsement and support as well as by cutting overheads as much as possible. There is still work to be done to improve our cash flow but our plans are working and positive results are slowly coming through.
Step # 3, We reduced our reliance on any one customer by adding new customers and expanding revenues from current customers. We have also added new products and new industries that meet our manufacturing capabilities.
Step #4, Get the Company’s primary customer to do a “product quality” review, with the objective to say that our manufacturing quality was acceptable based on their standards, not ours. Now, we were able to focus on more orders and new primary customers which doubled in the first year.
So, with the first four steps accomplished, management then looked at our manufacturing facility as the next step in improving the Company.
Step #5, The next step was to consider a move from our Tustin location. The Tustin facility had a disorganized and uneconomical production flow line, with utilization running at 35% of capacity, and over-priced rent. We needed to relocate and we moved to a new facility in Anaheim in July, 2014, saving some $200,000 in rent, utilities and improved efficiencies annually.
Step #6, M Line had to repair its identity and attract new capital in order to broaden its overhead break-even coverage. Management achieved this by starting the following actions:
a/. The Company contracted with a recognizable New York City investment banking firm to provide us with a $30 million funding commitment. This funding was designed to be used to acquire other companies in the
aerospace industry. As noted in our previous press releases we have identified five candidates and are close to closing the first two of those candidates. We continue to work closely with our investment bankers on this process.
b/. Replace our current lender with lower cost financing. We have signed documentation for the first part of this funding which is due to commence as soon as we file our three outstanding 10-Qs.
c/. Complete the refinance with another asset based lender at a lower cost than our current lender. This has not been completed yet but is in process.
Step #7, Find acquisition candidates that add positive benefits to our current business. We found two key acquisitions which could not only complement our existing business but more than double our revenues, expand our key customer base and significantly increase our EBITDA. We know how important it is to show profitable growth so that we can gain the confidence of our shareholder base.
Step #8, Set up better communication with our shareholders. Although we are trying to keep our shareholders informed it is difficult to issue news when the shares have a “stop” sign. It also makes it difficult to close the acquisition transactions but we continue to work on completing our filings which will solve this issue.
Step #9, Close the first 2 acquisition candidates. We did get delayed but we are working on closing these transactions now. We are also looking for additional targets.
Step #10, Complete the audit of the 2014 10-K which has now been filed. Complete the reviews of the 10-Q’s as soon as possible which is currently in process.
Step# 11, Prepare and complete timely the audit of our 2015 10-K
Step #12, Translate the efforts from the past 18-months into true Shareholder Value!
Over the last six months we have reduced overhead significantly. Although our revenues have dropped, mainly due to the move of our manufacturing facility and the changes at Elite Machine Tool, overhead reductions have been significant.
New Products and Services:
a/. New Products
We have added a new product line to our manufacturing facility and are now producing a “Vape Pipe” for a new customer. We anticipate that revenues for this product will exceed $250,000 per month by the end of September. We, together with our customer’s support, designed the “Pipe” and are now manufacturing our first order of 1000 units. We believe there is a very large market for these “Pipes” and we are already planning the next two generations of the product. We anticipate our ability to produce a high quality product with our technological manufacturing capabilities can put us at the forefront of this growth industry.
b/. New Services
During this last year we formed and started providing services in our new business financial services company. We are expecting significant profits from this division over the next year. We closed our first transaction last year and we are currently negotiating with three new prospective clients and hope to continue to expand this financial services division. In the future we expect to include equipment financing for our customers as a part of this division’s activities which will then add to our anticipated sales growth objectives.. We have not added any staff to manage this division as the work is primarily managed by our CEO Bruce Barren and COO Tony Anish.
Our Move:
The move to our new facility has been very beneficial to the Company. Our corporate offices are located on the second level of the building with its own entrance. The facility for Precision includes sufficient office space, a large assembly area which is important for the assembly of our Vape Pipes and a manufacturing floor that has some room for expansion but is much more efficient space. Overall the building is smaller but with a much more usuable “footprint”.
Refinancing:
The refinancing of our Company is still not complete. We have arranged financing for the take-out of approximately 50% of the amount due our current lender. We expect the additional financing to be finalized very shortly. This has been a long process. It has been made more difficult as working with our current lender is complex, however it has also been made more challenging due to the drop in revenues as a result of our move. Currently, we are working with a number of excellent sources and expect to close a transaction very shortly.
Conclusion:
At present we are working to complete the following:
1/. Finalize and file our three outstanding 10-Qs and get the “Stop Sign” removed from our SEC listing.
2/. Finalize the remaining finance necessary to pay off our current lender
3/. Continue with the closing of the first two acquisition targets previously disclosed.
a/. Blue Star Machinery Inc. is a targeted acquisition that will enhance our machine sales division. We had planned to close this acquisition much earlier but due to the delays with our financial reporting we were unable to close as originally planned. We now expect to close as soon as the 10-Qs are filed.
b/. The Byran Company, Inc. is a targeted acquisition that will increase and enhance our manufacturing capabilities. Byran is a very well run machine tool shop providing design, manufacturing and assembly services to the aerospace and medical industries. This was always going to be our second acquisition but we now plan to move it forward as fast as possible and to close soon after the 10-Qs are filed.
Bruce Barren, CEO and Tony Anish, COO of M Line commented; “We sincerely believe that the end result will be a stronger company with a stronger stock and much improved Shareholder Value. We are looking forward to the next twelve months. This has not been an easy year but we now see the “finish line” which will result in a more profitable group of companies with revenues in excess of $20 million and a strong EBITDA.”
Sincerely,
/s/ Bruce Barren
Bruce Barren
CEO
/s/ Tony Anish
Anthony Anish
COO
This assumption is based on them not being able to close by that date or shortly after becoming current or based upon something more?
Thanks in advance
Anything new worth learning about with MLHC or is everything stalled over there?
Anyone talk to MrAnish of late? Any hope still for those two acquisitions?
Didn't see any V twins or BKRt on ask today? End of their cashing in?
It's kinda like crazy juice has been passed around. This is not good, even if old shares, this is a bad place to be.
Thank you.
For what it is worth, my hope is that your positive view of MLHC is accurate and that these are old shares and a temporary frustration and we are not headed towards no bid and a reverse split.
I like what this company could be if they succeed to climb out of the muck (without an R/S)
Bkrt on the ask as soon as they become current, back in the low trips, seems pretty logical that it is Dilution.
They have no requirement to keep that number on the website up to date.
If it is not dilution, they can announce such. If it is shares already reflected in the OS, they can announce such.
If there is any sense in waiting this out, they can communicate that.
???????????? Really?
In the wrong direction apparently with bkrt on the ask at .0004
So much for getting current
Was it vfin there diluting yesterday? I only saw the list of trades end of day and not the L2 yesterday. That is disappointing
I guess they couldn't convert while Mlhc wasn't current?
Wonder if that will be the new norm after our many months dilution free or if that was the end of it.
The guy who keeps moving his 10mil wall around is a nuisance too.
"We anticipate that revenues for this product will exceed $250,000 per month by the end of September. "
This should help a wee bit......
MLHC
I guess we will find out for sure soon what these guys are really made of. Dilution kings or turn-around heroes.
Looking forward to your puns regardless.
Interesting trading today with so very many 10,500 share buys all day long
Those 2 giant sells also of interest
Something brewing
Perhaps we will both be fortunate and they will close that acquisition while the PPS hovers around .0005
They are once again current. Progress.
and I will support their progress with a buy as well
hope to see you back here
Bluestar acquisition perhaps closing this week? Shareholder letter said it was the outstanding quarterlies holding it up.
All quarterlies are now filed.
MLHC current.
Thanks for letting folks know
MLHC stop sign gone. Current as of this week.
I hope that you are right and the most current Quarterly filing is the last of the dreadful.
Here is where we are at today now that Mlhc is current and stop sign is down:
No more excuses time I believe
b/. Replace our current lender with lower cost financing. We have signed documentation for the first part of this funding which is due to commence as soon as we file our three outstanding 10-Qs.
c/. Complete the refinance with another asset based lender at a lower cost than our current lender. This has not been completed yet but is in process.
Step #7, Find acquisition candidates that add positive benefits to our current business. We found two key acquisitions which could not only complement our existing business but more than double our revenues, expand our key customer base and significantly increase our EBITDA. We know how important it is to show profitable growth so that we can gain the confidence of our shareholder base.
Step #8, Set up better communication with our shareholders. Although we are trying to keep our shareholders informed it is difficult to issue news when the shares have a “stop” sign. It also makes it difficult to close the acquisition transactions but we continue to work on completing our filings which will solve this issue.
Step #9, Close the first 2 acquisition candidates. We did get delayed but we are working on closing these transactions now. We are also looking for additional targets.
Step #10, Complete the audit of the 2014 10-K which has now been filed. Complete the reviews of the 10-Q’s as soon as possible which is currently in process.
No company wants to have to submit a filing saying they laid off their entire staff of one of their two subsidiaries if they don't have to......
Oh well, let's hope Bluestar closes in the next month and their staff starts Elite back up to full speed before the well runs completely dry
Good to see Mlhc current
Will wait for Q1 to see if their new product line and hopefully bluestar helps to stabilize them financially
Hope so. Very ugly Qs
Why didn't the stop sign come down? 10k not due till end of September. These Qs should be showing them as current, yes? Or am I missing a missing filing somewhere?
Wonderful. Good to know they have a pulse. Lots to read this week for MLHC
mlhc clearly accumulation and not dilution:
All buys at the ask. No diluting MMs to be found
Num Exch. Price Size Type C T Bid Offer Time Buy. ? Buy Ind. Buy Vol. Sell Vol. ? Vol.
6 nasd 0.0008 319,000 0.0006 0.0008 14:50:21 319,000 2,500,000 0 0
5 nasd 0.0008 181,000 0.0006 0.0008 14:50:20 181,000 2,181,000 0 0
4 nasd 0.0008 500,000 0.0006 0.0008 14:50:15 500,000 2,000,000 0 0
3 nasd 0.0008 500,000 0.0006 0.0008 14:50:05 500,000 1,500,000 0 0
2 nasd 0.0008 500,000 0.0006 0.0008 14:49:55 500,000 1,000,000 0 0
1 nasd 0.0008 500,000 0.0006 0.0008 14:47:13 500,000 500,000 0 0
Trade definitions are based on the mid-price and are indicative only
Do you think they are intentionally not becoming current in filings until they can add a successful quarterly to the stack or are they just done with feeling responsibity towards shareholders?
I can't imagine why else they wouldn't have followed through by now as it seems they can't close bluestar or financing without being current. Makes no sense to not progress with the filings
I think I will follow rockman and imacman out the door if nothing by second week of September. Tired of wondering if the .001 wall up for six months hasn't been one of the two executives slowly paying their salary.
Hmmmm
Lost cause or just sleeping
Mlhc
hey rockman
was that you exiting today?
hey rockman
was that you exiting today?
I guess that saved you from months and months of being angry with them. A blessing
Stop sign has been there since winter. You knew that I am assuming
Let's just call it peaceful for now.
Ommmmmmmmmm
Mlhc
To begin we want to inform our shareholders of the exciting news that our preliminary unaudited results for the year ended 6/30/2015 reflect a profit and positive EBITDA. Although Revenues are lower than in 2014 as a result of our planned reduction in revenue from the machine sales division and our move, we reduced overhead significantly and coupled with earnings from our new business financial services division have given the Company a much improved position.
Quiet little accumulation and bump up for mlhc this week.