HARBIN, China, March 15 /PRNewswire-FirstCall/ - Eline
Entertainment Group Inc. (EEGI, http://elineentertainment.com/) and
its China based subsidiary
Innovation Investment Group's (Inn Group;
http://www.ydwtz.com/eng/) CEO forecasts a significant revenue
increase for 2010.
Ms. Wei Hong, the Director and
CEO of Innovation Investment Group, said, "Since its funding in
1999, the Inn Group completed all plans on schedule, and we don't
expect 2010 to be any different. We have achieved our plan of
opening 30 Centers by 2009. Our total company revenues in 2009
reached approximately $2.5 million
USD, with profits over $1.5 million
USD.
We expect the company to follow all the trends mentioned in the
past press releases, namely the improvement in investment/revenues
ratio and profits increase. We will follow our expansion plan for
2010, as the company expects total revenues to reach $5.8 million USD, with total profits of
$4.2 million.
We are also looking into new opportunities in the children
education and development. Currently we explore the possibility and
routes to develop children's eating habits and dining manners. The
idea is to launch Children's restaurant Chain Store, but this idea
is still on the drawing board, with no deadlines attached to it
just yet.
We also want to inform the shareholders about the EEGI shares
owned by the Inn Group, as the company received a number of
inquiries about this issue. Innovation Investment Group holds a
majority position the company's current shares outstanding and
plans to hold onto these shares as they represent a definite asset
for Inn.
More updates will follow shortly.
Our plans have been well structured since the company's launch,
and we achieved our goals each year according to our plans. We plan
to continue to fulfill all expectations and we look forward to work
and increase the shareholder value in 2010."
The company reminds our shareholders and followers to monitor
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section "PRESS RELEASES AND FILINGS" TAB
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Filings for this event are currently being reviewed and will be
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Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Eline
Entertainment Group Inc. that constitute forward-looking statements
for purposes of the Safe Harbor Provisions under the Private
Securities Litigation Reform Act of 1995. The words or phrases "can
be", "expects", "may affect", "believed", "estimate", "project" and
similar words and phrases are intended to identify such
forward-looking statements. Eline Entertainment Group Inc. cautions
you that any forward-looking information provided by or on behalf
of Eline Entertainment Group Inc. is not a guarantee of future
performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Eline Entertainment Group Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Eline Entertainment Group Inc.'s
control. In addition to those discussed in Eline Entertainment
Group Inc.'s press releases, public filings, and statements by
Eline Entertainment Group Inc.'s management, including, but not
limited to, Eline Entertainment Group Inc.'s estimate of the
sufficiency of its existing capital resources, Eline Entertainment
Group Inc.'s ability to raise additional capital to fund future
operations, Eline Entertainment Group Inc.'s ability to repay its
existing indebtedness, the uncertainties involved in estimating
market opportunities, and in identifying contracts which match
Eline Entertainment Group Inc.'s capability to be awarded
contracts. All such forward-looking statements are current only as
of the date on which such statements were made. Eline Entertainment
Group Inc. does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
CONTACT: For any investor relations matters, please contact
www.minamargroup.net/helpdesk; Investor Relations Department
Inquiry, www.minamargroup.net (IR); For (M&A) and Corporate
Matters, www.minamargroup.com
SOURCE Eline Entertainment Group Inc.