M Line Holdings Inc (MLHC)

[dakotag]

Remember that M-Line (#MLHC) is just a holding company. It owns Precision Aerospace and Technologies (http://www.precisionaerotech.com) and Elite Tool Company (http://www.elitemachinetool.com). Both look like very real companies. Precision has been around since 1976 and was bought by M-Line in 2003. It boasts increased revenue year over year since the downturn in the economy that crushed many companies from 2007 - 2010. Elite was founded in 1990 and recently moved into a new 15000 sq ft facility and expanded its offerings due to growth.

So, basically the company is real but the accounting and top level management stink. They either need to replace their finance staff (if they have any), replace their auditors or both. Because the delayed filings and final audit report are ridiculous.