Business
M Line Holdings, Inc. Files its First Quarter Results for Fiscal Year Ended June 30, 2019
M Line Holdings, Inc. Files its First Quarter Results for Fiscal Year Ended June 30, 2019.
About this update from M Line Holdings Inc
[{"type":"text","content":"\nCOSTA MESA, CA, Nov. 20, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – M Line Holdings, Inc. (OTC Pink: MLHC; \"M Line\" or the “Company”), is pleased to announce that it has filed its results for the first quarter of Fiscal 2019 and continues to be current on OTC Markets. The results show a small negative EBITDA of $110,790.    \n Tony Anish, CEO of M Line, commented: “These results do not show the effects of the revenue of the new subsidiaries.  The second quarter ending December 31, 2018 will begin to show increased revenues as this will be the first full quarter of business as subsidiaries of M Line.  Best Choice, our Florida subsidiary, had a record month in October 2018 with revenues in excess of $300,000 and we expect this growth to be exponential.  We strongly believe, based on our forecasts, that we will be profitable for Fiscal 2019.” Tony Anish continued: “Although our Balance Sheet still shows the liabilities of the outstanding convertible notes, the Company will be repaying this debt from future revenues generated by the Company so that no new stock will be issued for debt conversion.  Our growth plans are in place and we expect to continue locating excellent opportunities to add to our portfolio of Companies. We anticipate closing a new addition very shortly. As always, our primary objective continues to be, positive growth of the business with improved shareholder value.” About M Line Holdings, Inc. M Line is a Holding Company. It controls subsidiaries involved in the Beverage Branding and Distribution industry that includes our VEA and TORQUE® branded drinks.  In addition, M Line controls two subsidiaries in Florida in the Food and Beverage distribution business and M Line has now expanded into the Cannabis Industry with the acquisition of our C-Pod manufacturing business.  Furthermore, M Line will continue with its business financing activities while looking for other opportunities in the Beverage, Distribution and Cannabis industries as well as other prospects that make sense to management.  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 st...