M Line Holdings, Inc. Announces Final Results for the Nine Month Period Ended March 31, 2014 Confirming Revenue Increase of 2...
May 21 2014 - 8:32AM
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
it's results for the nine month period ended March 31, 2014.
Revenues increased to $8,453,085 almost $1.7 million more than the
comparable period from last year. EBITDA improved by $2,030,957 an
increase of over 200% compared to the prior period in 2013.
After a careful review, the derivative calculation has been
changed from our original estimate and the stated loss for the nine
month period was $598,781, although this loss all relates to the
non cash derivative calculation. This is compared with a stated
loss of $1,355,415 for the comparable period in 2013, an
improvement of over $756,000.
Bruce Barren, CEO of M Line, commented: "We are pleased with the
results. True operating profits continue to grow and we are
confident we will meet our forecast for the year ended June 30,
2014. While we are concerned about the undervalued share price, we
are confident that our market capitalization will rise
substantially following the release of the 2014 results."
Tony Anish, COO of M Line, added: "We are now sprinting towards
the year end attempting to close the year on a very positive note
with revenues and EBITDA that our shareholders can be proud of. We
are positioning your Company to reflect our substantial progress
over the last nine months and in the near future. Next year we
expect to see a totally different Company, since we anticipate that
we will be able to close some of the acquisition targets with which
we are negotiating."
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/
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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