M Line Holdings, Inc. Adds Two Multi-Dollar Aerospace Customers to Its Portfolio
May 19 2014 - 8:35AM
M Line Holdings, Inc. (OTCQB:MLHC) ("M Line" or the "Company"), a
leading provider of products, assemblies and services to the
precision high tech segment of both the aerospace and medical
industries as well as a seller of high end pre-owned Japanese
Computer Numerically Controlled ("CNC") Equipment, today announced
that the Company has added two major customers. The first is a
leader in providing distribution, life extension, maintenance,
repairman overhaul (MRO) and logistic support solutions to
operators in the US and in over 30 countries worldwide. The
second customer is another multi-million dollar sales company
located in Australia, a new territorial market for M Line. It
is an aerospace and defense company providing proprietary products
in avionics, display technology, filter panels and power supplies
markets.
In other news M Line will be filing its results for the three
quarters ended March 31, 2014 today. The preliminary results
will change and will reflect a lower profit than estimated at
$18,617 due to non cash derivative calculations of
$448,210. The EBITDA for the nine month period ended March 31,
2014 is $1,110,456 compared to ($920,501) for the comparable period
in 2013. This is an improvement of $2,030,957. Further, Fiscal
2014 is still on target for a profit of $1.5 million with EBITDA
expected to be closer to $2.5 million based on the profit from a
strategic alliance which the Company is currently working on and
expecting to close by June 30, 2014.
Bruce Barren, CEO of M Line, commented: "One of the most
important elements in building Shareholder Value is through one's
customers, particularly a company's capabilities to attract new
customers. We are demonstrating this at M Line in our
"step-by-step", one building block at a time approach. M Line's
team is committed to do just that - Stay Tuned."
Tony Anish, COO of M Line, added: "Even though our cash flow is
still tight, we continue to make positive moves with, new
customers, strategic alliances and our continued negotiations with
prospective acquisition targets plus we continue to improve our
customer performance ratings."
About M Line Holdings, Inc.
M Line Holdings, Inc. (OTCQB:MLHC). M Line
provides products 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")
Equipment. Key customers of our group include Panasonic
Avionics, UTC Aerospace Systems, Beckman Coulter, BE
Aerospace and SIE (Structural Integrity
Engineering, Inc.). The Company is headquartered in
Tustin, California. For more information see our website at
http://www.mlineholdings.com/
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This press release may contain forward-looking information
within the meaning of Section 21E of the Security Exchange Act of
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CONTACT: Investor Relations:
Howard Gostrand
info@amcapventures.com
305.918.7000
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