Dépêches

M Line Holdings, Inc. Announces New Acquisition

Dépèche transmise le 28 juin 2011 par Business Wire

M Line Holdings, Inc. Announces New Acquisition

M Line Holdings, Inc. Announces New Acquisition

TUSTIN, Calif.--(BUSINESS WIRE)--M Line Holdings, Inc. (OTC Bulletin Board: MLHC):

New Acquisition

M Line Holdings, Inc. (OTC Bulletin Board: MLHC)(“M Line Holdings” or “the Company”), announces that it has entered into a binding letter of Intent to acquire 19% of Mediatronics, Corp. (“Mediatronics”) from Money Line Capital, Inc. (“Money Line”). In addition Money Line has assigned to the Company its option to acquire another 61% of the equity of Mediatronics in two future tranches, the first to bring M Line Holdings’ stock ownership to 51% and the second tranche to take ownership to 80%. The purchase price being paid by The Company for the first 19% is made up of 2 million common shares of stock and $750,000 and will close no later than July 31, 2011. Prior to December 31, 2011, the Company will acquire the second tranche at an estimated cost of $3,500,000 of stock and cash for an additional 32% of Mediatronics, and on or before June 30, 2012, the Company will acquire the final tranche at an estimated cost of $6,000,000 of stock and cash for 29% of Mediatronics. The acquisition of the second and third tranches of the stock of Mediatronics will be subject to an independent valuation and audit of the Mediatronics’ financial statements and records.

Money Line Capital, Inc.

The sale of Money Line Capital, Inc’s shareholding in Mediatronics is the first step, as previously promised, towards acquiring all of the operating subsidiaries of Money Line Capital, Inc. Although announced in 2009 these acquisitions have been delayed as a direct result of the economic downturn during 2009 and 2010 in business both for M Line Holdings and for Money Line Capital, Inc. and its subsidiaries. However with the improvement in the economy we believe it is now timely for The Company to begin these acquisitions.

Mediatronics, Corp.

  • An Original Design Manufacturer of innovative technology for the automotive OEM sector, consumer/aftermarket and specialty vehicle markets.
  • Customizable hardware platforms and corresponding unique voice enabled applications together referred to as Vdriv TM are designed to enhance the driver’s productivity and infotainment experience while maintaining a critical focus on safety.
  • Connected Vehicle Mediatronics is one of the leaders in the evolution of this newly emerging marketplace.
  • Applications in the vehicle include media-on-demand, real-time diagnostics/geo-location/tracking, remote start, Bluetooth and Wi-Fi-based communication, navigation and other content related services.
  • Cloud based Architecture – each of our applications are migrating from in-vehicle stand-alone radio-centric products to a cellular-centric product line which accesses content and services from the internet.
  • Vdriv… Your Voice in Motion!

George Colin, CEO of M Line Holdings, Inc. stated, “We are very excited to take this first step in our acquisition of the operating subsidiaries of Money Line Capital, Inc. and our first acquisition in the media/technology arena of business. The Board has been discussing a new media division and Mediatronics is a positive step in our efforts to build that division in conjunction with our aerospace division. The cutting edge technology that Mediatronics has developed and its engineering capabilities make this acquisition crucial to the growth of our Company.”

About M Line Holdings, Inc.

M Line Holdings, Inc. (formerly Gateway International Holdings, Inc.) is currently a reporting company under the Securities and Exchange Act of 1934, as amended, with approximately 600 shareholders and two operating subsidiaries, Eran Engineering, Inc. and E. M. Tool Co., Inc. dba Elite Machine Tool and has now acquired a minority interest in Mediatronics, Corp.

M Line Holdings, Inc. is headquartered at 2672 Dow Avenue, Tustin, CA 92780.

Forward Looking Statements

This news release contains certain “forward-looking statements.” Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company's control. The forward-looking statements are also identified through the use of words “believe,” “enable,” “may,” “will,” “could,” “intends,” “estimate,” “anticipate,” “plan,” “predict” “probable,” “potential,” “possible,” “should,” “continue,” and other words of similar meaning. Actual results could differ materially from these forward-looking statements as a result of a number of risk factors detailed in the Company's periodic reports filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved.

Business Wire

Les plus belles photos d'avions
Boeing 737-8U3/WL (PK-GNT) Boeing 787-9 Dreamliner (ZK-NZE) CRJ-1000 NextGen (PK-GRE) L4H (F-AZII) Airbus A320-214 (CS-TNP) Dassault Falcon 7X (VQ-BAA)