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TELA -- Techlabs, Inc.
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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Eline Subsidiary Eyes 2007 Hurricane Season
JENSEN BEACH, Fla., Feb 27, 2007 /PRNewswire-FirstCall via COMTEX/ -- Eline Entertainment Group, Inc.'s (OTC Pink Sheets: EEGI) Storm Depot International subsidiary has agreed to add another dealer in Palm Beach County, Florida. "This opportunity strengthens our exposure to Palm Beach County," stated Ellis Hyers, President of Storm Depot International. The new Dealer is a state of Florida general contractor with significant projects from Daytona Beach to Palm Beach County. "We are committed to establishing a solid Dealer network throughout Florida and to be ready for what is predicted to be a busy 2007 hurricane season," added Mr. Hyers.
According to the University of Colorado's Forecast team, 2007 will be an above average year for hurricane activity. Their report states, "We foresee an above-average Atlantic basin tropical cyclone season in 2007. We anticipate an above-average probability of United States major hurricane landfall." The report was issued December 8, 2006 and will be updated in April 2007. The University of Colorado's forecast predicts 14 named storms and 7 hurricanes, with 3 being major hurricanes. The report further stated that there was a 64% chance of U.S. landfall versus a historical average for the last century of 52%.
Based on the 2007 forecasts, the Company plans to have 25 active hurricane protection dealers licensed to use the Storm Depot name, throughout the state of Florida.
Eline also reported its investment in Techlabs, Inc. (OTC Bulletin Board: TELA). Pursuant to its previously reported agreement with Techlabs, the Company has issued to Techlabs ten million shares (10,000,000) of its common stock in exchange for a ten percent (10%) interest in a subsidiary of Techlabs, through which Techlabs is pursuing certain ventures in the Caribbean basin and South America. Most notable is Techlabs' planned acquisition of a minimum of a 51% interest in Venezuelan-based Corporacion SportAlum C.A. Techlabs recently entered into a letter of intent with the principals of SportAlum and is currently in the midst of a due- diligence effort with respect to the proposed transaction. SportAlum specializes in the fabrication, sale and installation of sport seating solutions for stadiums, arenas and other sports and entertainment facilities around the world.