Eline Entertainment Group, Inc. (OTCMKTS:EEGI) Planning For The New Direction
Eline Entertainment Group, Inc. (OTCMKTS:EEGI) has been planning for a new direction in one of the exciting emerging markets in the coming period. More details about the firm direction, new assets and facilities will be released shortly as soon as some administrative tasks are put into place. The firm, under a new management team intends to remain cautious about giving specific data before it is ready, but ascertains investors that the industry, and people involved are serious about turning Eline a success.
Although former management are planning to make place for the new direction, they will ensure that the torch is passed adequately and properly so that the firm becomes, and remains up-to-date in its disclosures with OTC Markets. The recent disclosure required to raise the firm to the “Pink Current” tier is anticipated to be posted soon, showing considerably cleaner balance sheet with less debt and in a better position moving forward to circumvent unnecessary dilution. More info will be following this thrilling announcement soon and the firm asks for the investors’ patience so that it can be closed the right way to increase value.
Earlier in October, Eline Entertainment released a shareholders’ letter to clarify revelation of recent events. The first confusion that management addressed was Cranium, Inc. transaction. When initially stated to the public Cranium was just an assignment. Initially that assignment was bought by company in lieu for controlling stake that would put the assignment founder in control of company. This is why it was preliminary mentioned to as an acquisition.
Since then, Cranium was formally incorporated in the PA as ‘Cranium Corporation.’ The agreement was changed and amended from acquiring an assignment to acquiring and eventually merging the firm that owned that assignment into EEGI. It is the reason why it was then stated as a reverse merger.© Copyright 2016 OTC News Magazine. All rights reserved.