M Line Appoints new Auditors
TUSTIN, CA / CRWEPRESSRELEASE / September 14, 2015 /M Line Holdings, Inc. (OTCMKTS:MLHC; “M Line” or the “Company”), is pleased to announce that it has made its first payment to its current lender starting the repayment process.
In addition M Line has appointed Anton and Chia, LLP, as its new qualified SEC reporting auditor. Anton and Chia, have offices in the US as well as three international offices located in Vancouver, Mexico City and Hong Kong. The Board wants to thank Malone Bailey for its work over the last two years, but felt that a locally based auditor would benefit the Company, taking into account the growth plans over the next two years.
Bruce Barren, CEO of M Line, commented, “The first payment reducing capital owed to our current lender is an exciting step. Our plans include the full repayment over the next 6-12 months. The elimination of this lender over the next six to twelve months will significantly reduce our cost of funds-another step towards an improving EBITDA.”
Tony Anish, COO of M Line stated, “We are working on our 10-K for the year ended June 30, 2015 and will file those financials in a timely manner.”
M Line is a leading provider of manufactured precision metal products, assemblies and services to the high tech segment of aerospace, defense, medical and other industries with key customers that include Panasonic Avionics, UTC Aerospace Systems, and other leading aerospace customers. In addition M Line has started to trade in its business services division providing business, financial and other services to its clients and the restart in the near future of its machinery sales division.
For more information on M Line 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 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.
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SOURCE: M Line Holdings, Inc.