KNOXVILLE, Tenn., Oct. 17 /PRNewswire-FirstCall/ -- Eline Entertainment Group, Inc. (OTC Bulletin Board: EEGI) announced today that it has completed its first phase due diligence process in evaluating the acquisition of a majority interest in Cyclolab Research & Development Laboratory, Ltd. of Budapest, Hungary. As part of the process, consultants to Eline as well as Rick Strattan, president and CEO of CTD Holdings, Inc. (OTC Bulletin Board: CTDH), visited the facilities and reviewed with management the audited financial information of the company. CyloLab has been recognized as a leader in the European manufacturing of cyclodextrins and CD complexes on a pilot plant basis. Cylodextrins are contributing significantly to the practical commercial applications of nanotechnology. Recently, there has been an explosion of interest in nanotechnology, the manipulation on the nanoscale. The recent interest in the nanoscale has produced, among numerous other things, materials used for and in drug delivery. Nanoparticles are generally considered to be solids whose diameter varies between 1-1000 nm. As a result of intensive research and advances in enzyme technology, cyclodextrins and their chemically modified derivatives are now available commercially, generating a new technology: packing on the molecular level. Mr. Strattan said, "We were not disappointed during our recent visit to Budapest. The opportunities to jointly develop new and useful commercial products using CDs in nanotechnology may be limitless." He went on to further state, "We believe that this acquisition will not only consolidate our joint efforts but will enhance our ability to develop proprietary products to further enhance shareholder value." About CTD Holdings CTD Holdings sells cyclodextrins (CDs) and provides consulting services in the area of commercialization of cyclodextrins applications. CTD Holdings is a considered to be a leading consultant in determining manufacturing standards and costs for CDs. CDs have applications in the areas of biotechnology, cosmetics, foodstuffs, pharmaceuticals, and toxic waste treatment, among others. CDs help bring together oil and water and have potential applications anywhere these materials must be used together. CDs can improve the solubility and stability of a wide range of drugs, as many promising drug compounds are unusable or have serious side effects because they are either too unstable or too insoluble in water. This press release contains forward-looking statements, some of which may relate to CTD Holdings, Inc., and which involve numerous risks and uncertainties. Actual results, performance, or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in CTD Holdings, Inc.'s filings with the Securities and Exchange Commission. About Eline Entertainment Eline Entertainment Group, Inc. provides manufacturing solutions through the design, fabrication, sourcing and distribution of specialty materials, systems and related supplies for use in industrial, commercial and residential applications. Through its Industrial Fabrication and Repair subsidiary, the company provides machining, welding, specialty design, fabrication and component sales for custom applications, including systems used in the movement of raw materials, finished goods and supplies in its customers' manufacturing processes. The company's Storm Depot International subsidiary distributes hurricane protection products, including its proprietary E-Panel, a lightweight translucent hurricane panel, through a network of licensed dealers and independent retailers. The company's dealer outlets offer the public and the contracting trade a one-stop shopping solution for a broad range of hurricane protection and preparedness products. Eline Entertainment Group has recently announced that its Board of Directors has approved changing the corporate name to Grande International Holdings, Inc. This press release contains forward-looking statements, some of which may relate to Eline Entertainment Group, Inc., and which involve numerous risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in Eline Entertainment Group, Inc.'s filings with the Securities and Exchange Commission. CONTACTS: CTD Holdings, Inc. C.E. Rick Strattan President & CEO (386) 454-0887, ext. 22 Eline Entertainment Group Barry A. Rothman +1-215-895-9859
SOURCE Eline Entertainment Group, Inc.