TUSTIN, Calif., May 13, 2014 (GLOBE NEWSWIRE) -- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
Investor Relations: Howard Gostrand 305.918.7000
