HARBIN, China, July 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/)
announce that the company held Innovation Summit 2010 to assure
smooth implementation of the 2010 plan.
Innovation Investment Group held a high management Summit in
Harbin. During this summit, the
management summarized company's progress on implementation of the
2010 expansion plan and assessed the timeline progress determined
for the Inn Group's expansion in 2010 on the Chinese educational
market.
The Summit focused on adjustment of strategic plans to ensure
the best effect of company's expansion and operation. The
adjustment of the plans stemmed from the assessment of trends that
unraveled at the beginning of the year. The Inn Group executives
adjusted the strategic direction, strategic objectives, program
implementation, etc. to address these trends.
Innovation Investment Group Inc. reported revenues reaching
nearly 9 million RMB ($1.3 million USD) in Q1 2010, with net profit
margin in the range of 65-70%. The company continues to expand on
the Chinese educational market, investing in its 2010 projects such
as new Centre in Chengdu.
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
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updates.
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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.