M Line Holdings, Inc. Files Its 10-K for the Year Ended June 30, 2014

M Line Expects Positive EBITDA for Fiscal Year Ended June 30, 2015

ANAHEIM, CA / ACCESSWIRE / June 24, 2015 / M Line Holdings, Inc. (OTC: 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 Computer Numerically Controlled (“CNC”) Machine Tool Equipment.

M Line today announced its audited results for the year ended June 30, 2014. The results show revenues of $8,701,122 for Fiscal 2014, compared to $9,324,685 for Fiscal 2013-a reduction of 6.8%. This drop in sales was due to the fact that revenue of $2,100,000 was reflected in the financial statements at $1,000. The reason for this was the payment for this work was in public company stock, the listing for which was deferred pending an independent appraisal or a new upgraded European Stock Exchange listing. As a result your Board felt it appropriate to value this revenue at a nominal value of $1,000 at this time. The shares will be listed again very shortly on the new exchange and the value will then be added back to the financial statements for Fiscal 2015. However, even with lower revenues, the EBITDA for Fiscal 2014 was $1,385,344 as compared to EBITDA of ($3,611,109) in Fiscal 2013. This was a massive improvement of $4,996,453. Both revenue and EBITDA were lower than forecasted for the reasons described above.

Bruce Barren, CEO of M Line, commented: “We are continuing to move forward with our Business Plan. Our results for Fiscal 2014 were close to forecasts, a significant feat for our Company when one takes into account the booked expense charges incurred with our current Primary Lender. Management’s objectives have not changed. We can now begin to concentrate on closing various acquisitions and increasing Shareholder Value. We believe that in Fiscal 2015 ending June 30, we will not only achieve positive EBITDA but also positive net earnings. Stay Tuned.”

Tony Anish, COO of M Line, stated: “We are now working diligently on our three outstanding 10-Q’s which we plan to complete very shortly. We intend to file our Fiscal 2015 10-K by the end of this September. We will be fully SEC compliant very shortly at which time our first step will be to restore our listing back on the OTC QB, and when appropriate to the QX exchange.”

For more information on M Line, see our website at 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.

For further information contact:

Tony Anish
tony@mlineholdings.com

SOURCE: M Line Holdings, Inc.

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