HARBIN, China, May 7 /PRNewswire-FirstCall/ - Eline
Entertainment Group Inc. (EEGI, http://elineentertainment.com/) and
its China based subsidiary
Innovation Investment Group (Inn Group; http://www.ydwtz.com/eng/)
report on the company's 1st Quarter financials.
Innovation Investment Group Inc. reports, that during the
January 1 - March 31, 2010 period the
company revenues reached nearly 9 million
RMB ($1.3 million USD), with
net Profit of 6 million RMB ($889K
USD), at the exchange rate of 6.825.
Mrs. Wei Hong commented, "People
don't realize how profitable the educational market is. Our net
profit margin dwells somewhere in the range of 65-70%. The beauty
of the educational industry is that once the initial investment
pays back, this margin will be steady indefinitely. As we expand,
we need to reinvest this money into our 2010 projects, but its all
growth that pays back fast and offers great future profits.
China's middle class grows
rapidly, and based on China's
cultural past, parents demand quality education, making children's
education the utmost priority. Inn Group plans to offer its
investors many great news as we grow with this market."
The financial statements will be posted on Pink Sheets before
the market closes.
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.
Don't be a victim. Report a stock basher. 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 like
investorshub.com and other posters, and the remedies available to
you as an individual investor.
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.
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.