SCOTTSDALE, Ariz., Oct. 20, 2014 /PRNewswire/ -- Eline Entertainment
Group, Inc. (OTCPink : EEGI) today announced that its wholly owned
subsidiary, Graystone Education, has completed all application
requirements for the change in control required for acquisition of
its first technical college. The company feels that its goal to
consolidate multiple independent colleges and add an online
university element to them could make Graystone the largest, most
reputable accredited online university in the world.
Acquisition details are still covered by non-disclosure
components in the purchase agreement, but all is on schedule to be
finalized very shortly. The acquisition will immediately add
several million dollars in assets and potential annual revenue to
Eline Entertainment Group, but it is just the first of many that
the company has its sights on. Maintaining strict regulatory
requirements are key to a high standard of excellence, continued
accreditation, academic credibility, and providing access for
students to Title IV funding (student loans).
Eline's CEO Dr. Lori Layne
commented on this next step in the building process. "We are
extremely excited to be moving forward with the plan, and getting
one step closer to closing the acquisitions. I'm also delighted
with our current progress in the extremely complex task of forming
a strong business and academic base on which to build."
Dr. Tim Brooker, Eline's COO
added "I've been personally involved with the process from thorough
due diligence to the change in control application requirements.
I'm impressed with the quality of the institution we are acquiring,
and can assure you we are proceeding with the utmost
professionalism and care."
About Eline Entertainment Group, Inc. Eline Entertainment Group,
Inc. operates its wholly owned subsidiary; Graystone Education,
Inc. Graystone provides a variety of education services, and plans
to compete with current online colleges and universities by
becoming a next generation institution offering accredited degree
and certificate programs online as well as on-campus, by acquiring
a network of colleges nationwide that address a variety of
demographic needs, verses a single traditional focus. This
multi-campus, multi- venue approach increases the company's appeal
to a variety of student demographics and enhances revenue potential
dramatically. For more information contact
elineentertainmentgroup@yahoo.com.
DISCLAIMER
This Press Release may contain certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The Company has tried,
whenever possible, to identify these forward-looking statements
using words such as "anticipates," "believes," "estimates,"
"expects," "plans," "intends," "potential" and similar expressions.
These statements reflect the Company's current beliefs and are
based upon information currently available to it. Accordingly, such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which could cause the Company's
actual results, performance or achievements to differ materially
from those expressed in or implied by such statements. The Company
undertakes no obligation to update or advise in the event of any
change, addition or alteration to the information catered in this
Press Release including such forward-looking statements.
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SOURCE Eline Entertainment Group, Inc.