Graystone Education completes critical State and Federal applications as it prepares to close its first college acquisition

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 [email protected]. 

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SOURCE Eline Entertainment Group, Inc.