Eline Entertainment Group Inc (EEGI)

[stockinvestor01]

Building a long term Marijuana company! I thought this was a very good shareholder update.

They confirmed share structure listed in iBox is still current since the end of last year. So, NO DILUTION has occurred.

All shares issued for acquisitions will be restricted.

Continued reduction of debt and future share reduction.

More than one acquisition in the marijuana field: "we are in the process of creating a new project from more than one existing companies".

Clearly they can't release details until everything is in place, but it sounds like we'll hear more shortly.

I like that they are building a solid company for the long term and not trying to satisfy short term flippers. Exactly what they should be doing imo.

Eline Entertainment Shareholder Update
Feb 03, 2017

OTC Disclosure & News Service

Scottsdale, AZ -
Eline Entertainment Company Update

Dear Shareholders,
I know everyone wants to know the details about our company and the incredible changes we are going through. I know being in the dark can be very frustrating. We are working day and night to get everything in order to be able to announce our direction and acquisitions. Its no secret at this point that at least part of our future is aimed at supplying the lighting systems to growers in the cannabis industry. This is an extremely lucrative business to be in and the lighting and irrigation systems are literally the key to this multi billion dollar industry so its a very exciting time for all of us. Our market consultant has notified us about the hundreds of emails per day heâ??s getting and I suppose that signifies great public interest. Anyone who announces a change in business and an acquisition or merger that is substantial in value, and completes everything in a week should be a huge red flag to everyone. These types of transactions take time to effectively close, and I know everyone is very anxious to hear more. We are still at the stage of deciding exactly what our board of directors will look like and of the experienced management team involved, who will take the position of CEO, COO, and CFO, but we are very anxious to start announcing appointments.
I can say that one of the major concerns for us is the recent trading. I will tell you that while we are not experts in the stock market, we are extremely concerned with the dilution of our equity and regardless of what it may look like on the quote systems, nobody has been selling billions of shares in a day. What we are seeing is very high volume turnover possibly due to day trading or some other creative trading methods. Our goal is to keep the number of outstanding shares as low as possible while closing our transaction, and then to use all of our resources to pay off outstanding debt and reduce the OS as much as possible. Can this be done quickly and effectively? It remains to be seen, but we will certainly pool our experience and try. Our object is to build a long term success here, not a fly-by-night operation.
For those of you curious about the current structure, it is the same as it was at the end of the year. As for the authorized shares, we plan to finish what prior management started and get the company domiciled in Wyoming first and then file an update to lower it. This will save the company almost eight thousand dollars. Money that can be used for many other things. Please try to understand that our goal here is the long term, not making a few people comfortable in the short term, so we must make decisions based on that goal even if it differs slightly from yours individually. Like any acquisition or merger, we will have to issue some preferred and possibly some common shares. These shares will be "control shares" that will be restricted and will not effect the float, so the current shareholders should not be concerned about this. Of course we are looking at ways to limit it and keep the number as low as possible. It would be great if another share never needed to be issued, but we are in the process of creating a new project from more than one existing companies, so we will issue the minimum necessary.
I hope this update calms some fears about shares and dilution, or at least shows that we are trying to move this along as quickly as possible and keep an optimal business structure in place as we move forward in this most exciting venture.

Thank you,
Eline Entertainment Group Management Team.

https://www.otcmarkets.com/stock/EEGI/news/Eline-Entertainment-Shareholder-Update?id=150390&b=y