07.09
HARBIN, China, July 9, 2010 /PRNewswire via COMTEX/ — Eline Entertainment Group Inc. (EEGI, http://elineentertainment.com/) and its main subsidiary Innovation Investment Group (INN) is pleased to announce its intentions to purchase a China apparel company; in concert with an amalgamation with AMRA-American Racing Capital, Inc.
The China merger candidate manufactures school uniforms, and other related school and sundry school items. Initial due diligence and investigations of the company are almost complete. A preliminary financial assessment found this company to be secure and stable, showing revenues in the seven figure US dollar range. EEGI has already commenced creating marketing materials, and obtained an office in the city of Shenzen China for the new apparel division, with the launch geared for the beginning of the 2011 school year. See filings on EEGI Pink Sheets posted July 8, 2010. INN management intends to close the Chinese apparel company purchase on an entirely cash basis and without disturbing the EEGI share structure or requiring any financing from the parent company, EEGI.
EEGI believes that this company is a strong match, both in terms of potential success and industry consistency with Innovation Investment Group. Negotiations are currently in the final stages and an agreement contract is expected to be finalized in July.
AMRA amalgamation and share distribution to shareholders, as per the rules, requires the approval of US authorities (FINRA) prior to finalization. AMRA possesses several assets which are appealing to EEGI shareholder base and the agreement from Mina Mar Group to waive fees on this transaction to yield a higher return to AMRA shareholders being amalgamated. Complex calculations, contracts and approval by US authorities are required for the amalgamation. These submissions will be filed immediately upon completion of the transaction. Notices and pay dates, including details regarding the finalization (expected 30-45 days) of this transaction, will be announced in due time, as they become available, and will be filed with Pink Sheets.
Participate! Be heard by the US authorities! Lets put the short sellers and stock bashers on ICE. See www.minamargroup.com/ice and sign the petition which we intend to present to US authorities to once and for all ban the short sales in the small cap markets. The same rules as in effect in Germany and Hong Kong. Our proposal has a limited scope effecting Pink Sheets and OTCBB companies only. Fight back as an investor to repeal the “Communications Decency Act” which allows for the short sellers, stock bashers and or those which offer them a safe harbour to leech and thrive on these markets, while causing distress and decline of small/micro cap companies and the values of issuers share prices.
The company reminds its shareholders and followers to monitor PinkSheets.com Filing section and also our IR company web site section “PRESS RELEASES AND FILINGS” TAB http://www.minamargroup.net/ for non newsworthy corporate updates.
For any matters relating to retail investor queries or to send the company or its IR a message please click on the “INVESTOR SUPPORT” TAB, or the direct link http://www.minamargroup.net/helpdesk. In this regard, Mina Mar Group works diligently to answer and address all the pressing issues regarding its clients to the shareholders’ satisfaction. MMG is in constant contact with the companies, addressing, obtaining and processing all inquiries. MMG is often one of the advisors or IR companies utilized by the issuer. Depending on the location of the issuer and management’s availability, it may take up to several days to address any pressing issues. In a normal course of business and a pending transaction, the issuer may opt to remain silent in order not to lose advantage to a competitor. MMG is mindful that sometimes shareholders want answers immediately, which for the above reasons cannot be fulfilled on a timely basis.
Don’t be a victim. Report a stock basher to authorities. The company is mindful that short sellers, the company competitors and stock bashers stalk small cap Pink Sheets listed companies with hidden agendas. Visit http://www.stockbasher.com/ and find out what criminal and civil actions the US authorities are taking against web sites and the remedies available to you as an individual investor. Discover for yourself why and how USA based small businesses and the backbone of the economy suffer. Stay informed and do not allow entrepreneurs dreams, innovations, and their access to capital to be thwarted as “scalpers” and day traders vigorously day in and day out try to exploit and extinguish US innovation and progress for quick profits. Filings for this event are currently being reviewed and will be filed with Pink Sheets and Client Support section in due course. To be included in company’s email database for press releases, industry updates, and non-weekly activity in the company that may or may not be news released, please subscribe or opt in mailer at http://www.minamargroup.com/updates.
