M Line Back on Track with Its Recovery Plan
Accesswire
1 hour ago
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Forward Movement Continues on the Audit, a New Funding Source and Acquisitions
ANAHEIM, CA / ACCESSWIRE / March 11, 2015 / M Line Holdings, Inc. (PINKSHEETS:MLHC "M Line" or the "Company"), is pleased to announce that its Recovery Plan is now back on target. Details of this Plan will be released shortly through a Shareholder Letter.
M Line is pleased to confirm that its auditors are now working as fast as possible to complete the 10-K and 10-Q's so that we will have all our filing current. In addition we are proceeding with an asset-based lending line of credit with another funding source that will start its due diligence process shortly. Presuming we are approved, this funding will pay off any remaining amount due our current lender and will give us room for growth.
The negotiations and documentation with our first acquisition is moving smoothly and we hope for further announcements regarding this acquisition shortly.
Bruce Barren, CEO of M Line, commented: "It was unfortunate that it took so long to resolve the issues with our current lender but with that behind us we have started to speed up our 12-Step Recovery Plan."
Tony Anish, COO of M Line, further stated that: "Management is now making some changes within the organization to accelerate the Group's effectiveness ahead of the introduction of the acquisitions. As more news becomes available, we will update shareholders."
About M Line Holdings, Inc.:
M Line Holdings, Inc. (PINKSHEETS:MLHC "M Line" or the "Company"), is a leading provider of Products, assemblies and services to the precision high tech segment of both the aerospace and medical industries as well as selling high end pre-owned Japanese Computer Numerically Controlled ("CNC") Machine Tool Equipment with key customers that include Panasonic Avionics, UTC Aerospace Systems, Beckman Coulter, BE Aerospace and a strategic alliance with Structural Integrity Engineering.
For more information on M Line see our web site at www.mlineholdings.com.
Safe Harbor and Informational Statement
This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial conditions or results of operations; (iii): the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends.
The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intend to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not a guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking.
For More Information:
Contact:
Tony Anish
tony@mlineholdings.com
SOURCE: M Line Holdings, Inc.
