M Line Holdings, Inc. Highlights Fiscal 2014 Achievements to Date
May 13 2014 - 8:35AM
M Line Holdings, Inc. (OTCQB: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, today provided highlights of its
Fiscal 2014 achievements.
Fiscal 2014 has been an excellent year so far. The majority of
our key achievements have been previously noted in our
press releases and can be summarized as
follows:
- Restored Profitability-3 quarters in a row
- Through March 31, 2014 we are approximately $1.8 million ahead
of the comparable period for last year.
- Obtained a Commitment for Acquisition
Financing
- Despite our weak financial condition and tight cash flow we
obtained a commitment in the sum of $30 million.
- Improved and Strengthened Management
- We added Bruce Barren to our management team as CEO and brought
in our first totally independent Board Member, Percy Cerff.
- Rejuvenated Old and Attracted New Customers
- We have added five new customers and rejuvenated 4 old
customers.
- Accelerated Discussions with Three Prospective
Acquisitions
- These first three prospective acquisitions represent over $15
million of new revenue and $3 million of EBITDA.
- Completed a Strategic Alliance to Expand Products and
Services to the Aerospace Industry
- This co-operation agreement with Structural Integrity
Engineering, Inc., an aerospace based engineering company, will
enhance both company's abilities and strengths to service the
aerospace industry.
- Expanded Production Capacity in our machine
refurbishing and sale division
- Increased the machine refurbishing and sales division's
facility size by over 50% to meet growing demand.
With everything that has been done we are not satisfied and
continue to look for more acquisition prospects while searching for
better ways to manage M Line, reducing overheads and improving
productivity.
Bruce Barren, CEO of M Line, commented, "These accomplishments
are just the beginning. We plan to do more to improve our
profitability and enhance shareholder value which, as we have
stated so many times, remains our primary objective. For anyone who
remains skeptical, keep watching for we are full committed to our
mission."
Tony Anish, COO of M Line, added, "While achieving so much in
such a short time, we are definitely not complacent. In fact we are
consistently striving for better results. We will not be satisfied
until the market's view of our Company begins reflecting its true
value."
The Company has set in motion plans to hold regular shareholder
conference calls, which are expected to start in June. Management
encourages all shareholders and prospective shareholders utilize
this platform to ask questions to and talk with their team. More
information will be sent out shortly.
For more information on M Line see our website at
http://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 statements
as a result of various factors including the risk disclosed in the
company's statements and reports filed with the OTC Markets. The
Company claims the safe harbor provided by Section 21E(c) of the
Exchange Act for all forward-looking statements.
CONTACT: Investor Relations: Howard Gostrand info@amcapventures.com 305.918.7000
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