Costa Mesa, CA, Oct. 16, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- M Line Holdings, Inc. (OTC Pink: MLHC; "M Line" or the “Company”), is reducing the Shares of the Corporation’s Authorized Capital that may be issued by two and a half Billion (2,500,000,000) Shares. This is the equivalent of one third (1/3) of the Authorized Stock of the Company.
Tony Anish, CEO of M Line stated: “We have stated publicly that we are taking a stand to protect the Company from dilution and this action is another step to achieve that goal. At some time in the future we may need to issue additional restricted stock for acquisitions or new financing (not convertible debt) but should that occur we will inform our shareholders.
“We are in the process of finalizing the appointment of Transfer Online as our new agent. It is Transfer Online’s policy to keep shareholders informed by working together with OTC markets through their Share Verification program. As a result, our Issued and Authorized shares will be updated weekly automatically by OTC Markets. Consequently, our shareholders will be able to see current updated information. In the near future, there will be increases in restricted shares of stock issued to the Directors in lieu of salaries.”
Tony continued: “I want to confirm that OTC Markets has been paid. We anticipate uploading our current financial Statements, disclosure information and attorney letter and expect to be current very soon. I will continue to be as transparent as possible with a view to Increasing Shareholder Value for our shareholders. Stay tuned for more news.”
About M Line Holdings, Inc.
M Line is a holding Company with subsidiaries involved in the Beverage Branding and Distribution industry as well as the Food and Beverage distribution business and now has introduced its first acquisition in the Cannabis Industry with our C-Pod manufacturing business. In addition, 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 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 is 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 more information contact Tony Anish
E Mail: info@mlineholdings.com
Follow us on Twitter: @mlinehc
Web site: www.mlinehc.com
Caravel Web site: www.drinkvea.com