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Eline Entertainment Group Inc. (OTCPK:EEGI)
Eline Entertainment Group, Inc. this week announced that the company has entered into merger discussions with China-based video game designer Vu365.
EEGI management feels that this is a significant event that merits reporting to the market. Management believes that this merger is imminent, as Vu365 (www.vu365.com) has been looking to enter the USA markets for quite some time, and virtually exhausted its patience in discussion with another publicly traded company. EEGI management being able to accommodate VU365 needs is taking aggressive action. According to sources, Vu365 offers revenues in the $2 million USD range, with profits of $500,000 USD.
Vu365, a China-based gaming company, has over 30 employees. Founded in 2005, the group operates web and casual games. Vu365 has several products in development: an assortment of strategic web games, cyber games and 3-D large scale competitive games. Vu365 has already garnered popularity as the sole agent of a Korean MMORPG (Massively Multiplayer Online Role-Playing Game), a game that accrued 3000 online gamers and a monthly residual income of almost 300,000 RMB (about $10,000.00 USD) from that single application alone.
In other company news, the EEGI board awaits Innovation Group (Inn) updates regarding diversification of the Inn assets. EEGI management is looking for a change in direction and growth with its focus set in the entertainment industry with the aforementioned pending merger of VU365; and the recent merger of USA based luxury leisure transportation services.
Furthermore, Eline Entertainment Group, Inc. and the company's subsidiary Let The Good Times Roll has successfully merged with Midnight Express. This is a second expansion merger for EEGI .
LTGTR's subsidiary Midnight Express is a Florida based luxury transportation company specializing in tours of the Tampa Bay area. Midnight Express was previously geared towards tours in the party bus atmosphere, which makes for a great synergistic merger with LTGTR as the company expands both its business model and territory.
This acquisition has the potential to add significant increases in annual revenue to EEGI, but the real value in this merger lies in the select agreements and joint ventures with local businesses.
"The acquisition of Midnight Express helps us immensely in our pursuit of shuttle services. We expect to announce a major business strategic agreement in the Tampa Area in the upcoming few weeks thanks to this acquisition." - Debra Davis President of LTGTR.
LTGTR employs an organic expansion and acquisition strategy to increase revenue streams and expand into the market immediately. Besides organic expansion, EEGI continues to seek mergers, acquisitions, and participation in various joint ventures. EEGI seeks to achieve aggressive business growth with several mergers in the near future.
This is EEGI's third merger announcement in the last several days, and a second merger for the LTGTR. EEGI management is excited by the speed with which the LTGTR moves, and intends to keep shareholders updated with further details on the progression of any upcoming mergers and already completed mergers.
Eline Entertainment Group, Inc. operates in the educational industry in China. EEGI operates 12 educational training centers for nursery students; and 4 training programs. EEGI was formerly known as Eline Music.com, Inc. and changed its name to Eline Entertainment Group, Inc. in April 2001. Eline Entertainment Group, Inc. is based in Hendersen, Nevada.
To learn more about EEGI visit: http://www.elineentertainment.com
Costco Wholesale Corporation (Nasdaq:COST) announced on November 10, 2010 that Costco Wholesale Japan, Ltd. ("Costco Japan"), a wholly-owned subsidiary, has been recognized by Japan's Minister of Health, Labour and Welfare for its excellence in 2010 in promoting gender equality and for being a family-friendly employer. Costco Japan received both a Corporation Award for the Promotion of Gender Equality and a Family Friendly Corporation Award. These are Excellence Awards from the Director General of the Prefectural Labour Bureau, given to companies that ensure equal opportunities and treatment for men and women, and promote work-life balance for their employees. Costco Japan was recognized as a role model for its focus on equal opportunity, its open-door policy, its code of ethics that includes taking care of employees, and its "Journeys" program, which provides professional development and networking opportunities for female employees worldwide.
Costco Wholesale Corporation operates membership warehouses that offer a selection of branded and private label products in a range of merchandise categories in no-frills, self-service warehouse facilities.
Biogen Idec Inc. (Nasdaq:BIIB) announced on November 10, 2010 that its presentation at the Lazard Capital Markets 7th Annual Healthcare Conference will be webcast live on Wednesday, November 17, 2010 at 3:45 p.m. ET. To access the live webcast, please visit Biogen Idec’s Investor Relations section (investor.biogenidec.com). An archived version of the webcast will be available for 14 days following the presentation.
Biogen Idec Inc., a biotechnology company, develops, manufactures, and commercializes novel therapeutics in the areas of neurology, oncology, immunology, cardiopulmonary, and hemophilia in the United States and internationally.
Fossil, Inc. (Nasdaq:FOSL) reported third quarter net sales and earnings for the thirteen-week periods ended October 2, 2010. Net sales increased 37.4% to $523.8 million, Gross profit rose 41.8% to $298.7 million, Gross profit margin increased to 57.0%, Operating income increased 94.0% to $111.3 million, or 21.2% of net sales, Net income increased 93.2% to $68.2 million and Diluted earnings per share increased 92.3% to $1.00 on 68.0 million shares.
Fossil, Inc. designs, develops, markets, and distributes fashion accessories worldwide. It offers a line of fashion watches under its proprietary brands, such as FOSSIL, MICHELE, RELIC, and ZODIAC; and through licensed brands, including ADIDAS, BURBERRY, DIESEL, DKNY, EMPORIO ARMANI, MARC BY MARC JACOBS, and MICHAEL Michael Kors.
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