Posted By: Paul Sorkin
ACGX Shareholder Letter - 07-06-2017
Dear Shareholder
We have recently received a number of questions regarding our remaining convertible debt, our current outstanding share structure, and the potential impact the extra shares may have caused on the stock from any potential selling by debt holders. The purpose of this shareholder letter is to share some updated information and attempt to clear up any confusion you may have regarding these subject matters.
We understand many people are concerned and frustrated with the current low stock price and want to better understand the current business financials, stock information, and future plans.
We still have the same long term plans to attempt to grow our revenues while reducing our debt and continuing to negotiate with our debt holders to reduce the future conversions and evaluate all potential options to improve the business and the stock as we move forward.
Many have expressed concerns related to our increased revenues and the likelihood of maintaining the increase. The significant increase in revenue in the first quarter of 2017 was not just a one time thing. We are expecting similar levels of revenue for the next few quarters and then hope to increase in 2018 and beyond via organic growth and through acquisitions when possible.
As for the convertible debt, the company was able to reduce or retire over $300,000 in principal and accrued interest during the second Quarter of 2017 ending June 30th. The exact numbers will be included in our full quarterly report that is due out by August 15, 2017 and should be released prior to that deadline.
Regarding the stock price and the percent of potential debt holder trading, ACGX ended the first quarter (March 31, 2017) with a stock price of .0006 and traded a total of almost 775 million shares overall during the quarter. The stock ended the second quarter of 2017 (June 30, 2017) at .0023 and traded a total of almost 3 Billion shares overall during the quarter. That was a 285% increase in stock price and a 287% increase in the total volume traded.
During the first quarter the Company issued 145 million shares to existing debt holders to reduce debt. That amount equaled about 18% of the overall shares traded and the stock ended the quarter at .0006. During the second quarter the Company issued about 300 million shares to debt holders to reduce debt. That amount equaled about 10% of the overall shares traded for the quarter and the stock ended the quarter at .0023
The Company will continue to negotiate with its debt holders to attempt to reduce the conversion amount while continuing to reduce and hopefully eliminate most or all of the convertible debt as quickly as possible.
The Company strongly encourages all potential shareholders, especially day traders, to read our full quarterly disclosure reports and perform their own due diligence so they can understand the risks and rewards that may be associated with our stock.
Sincerely,
Paul Sorkin
COO and General Counsel
Alliance Creative Group, Inc.
www.AllianceCreativeGroup.com
www.ACGX.us
Paul@ACGemail.com
Forward Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.