M Line Holdings, Inc. cancelled the acquisition of BlueStar Machinery, Inc.
November 19, 2015 at 04:00 am
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M Line Holdings, Inc. (OTCPK:MLHC) signed a definitive agreement to acquire BlueStar Machinery, Inc. for $1.1 million on September 9, 2014. Sean Johnson will stay on as President of BlueStar Machinery with a three year employment contract. As of December 31, 2013, BlueStar Machinery generated revenues of $8 million. As on April 22, 2015, M Line Holdings signed final agreements with BlueStar Machinery. As reported on May 19, 2015, M Line Holdings has extended its close date for the acquisition of BlueStar.
M Line Holdings, Inc. (OTCPK:MLHC) cancelled the acquisition of BlueStar Machinery, Inc. on November 19, 2015.
M Line Holdings, Inc. is a holding company. The Company is focused on the beverage branding and distribution industry, the food and beverage distributing business, coal industry, the aerospace industry and business financing. Its subsidiaries include Best Choice Food and Beverage, LLC, a food and beverage distributing company; M Line Coal Development, Inc., which intends to acquire permits for the mining and distribution of coal out of mines located in Kentucky; M Line Transportation, Inc., which is formed to manage the transportation of mined coal to its distribution points; Precision Aerospace & Technologies, Inc., which manufactures precision metal component parts and assemblies; and M Line Machinery Funding, Inc., which provides advice and support in raising new capital, management support in relation to financial control and management of the business.
M LINE HOLDINGS, INC. 
