ALLIANCE CREATIVE GROUP (ACGX) REPORTS AN INCREASE OF $849,035 IN NET INCOME FOR Q3’18 FINANCIALS.
Company still in the process of completing PCAOB audits for last 2 years
CHICAGO, IL - Alliance Creative Group, Inc. (AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce the results of Operations for the Three Months ended September 30, 2018.
Revenues for the quarter ending September 30, 2018 (“Q3 2018”) were $3,341,012 compared to $4,550,757 for the quarter ending September 30,
2017 (“Q3 2017) or a decrease of $1,209,745 or 26.6% due to the discontinuation of the trucking services.
Gross Profits for the quarter ending September 30, 2018 (“Q3 2018”) were $941,758 compared to $802,550 for the quarter ending September
30, 2017 (“Q3 2017) or an increase of $139,208 or 17.3%.
Net Incomes for the quarter ending September 30, 2018 (“Q3 2018”) were
$881,060 compared to $32,025 for the quarter ending September 30, 2017 (“Q3
2017) or an increase of $849,035 or 2,651% increase.
The total assets on the Balance Sheet for the Alliance Creative Group as of 09/30/18 were $6,799,005 up from $6,431,666 from 09/30/17. An increase of $367,339 or 5.7%.
The total outstanding common shares as of September 30, 2018 were
2,041,394,535 with 1,941,073,560 of those shares in the float.
The Company ended the quarter with $146,486 in the bank.
The Total Stockholder Equity as of 9/30/18 is $3,766,474
The financial statements ending September 30, 2018 are posted on www.OTCmarkets.com under the stock symbol ACGX in the section for filings and disclosure and on www.ACGX,us in the investor relations section. The information includes: Balance sheets, Statements of Operations, and Statements of cash flows.
The Company is still in the process of having their audits for the years ended 2017 and 2016 completed with the preparation help of Brio Financial and the PCAOB Auditing firm Ciro E. Adams, CPA, LLC and have engaged SEC attorney William Aul to advise and/or complete any potential SEC filings.
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, said “We made extremely positive improvements this Quarter. We continued to shift away from trucking by selling more trucks and reducing more expenses while focusing more on the company’s core packaging business. We made significant financial improvements by increasing our gross profits by almost $140,000 and increasing the net incomes by almost $850,000 while reducing our expenses. The revenues were down due to the discontinued trucking operations but the most important bottom line Net Income number set a quarterly record for us. We believe the changes we are making now will help position us to leverage synergistic opportunities as we increase our access to more capital to help increase our overall shareholder value. The main goals right now are to finish the audits, reduce more expenses, increase profits, focus more on building up the core packaging business and supporting the execution of the PeopleVine business plan. We also believe that with all the recent excitement in the engagement software industry we believe PeopleVine is positioned well to continue to grow and help its clients engage their people while increasing its overall value as a company and as an investment for us. We will continue to evaluate all of our options for a potential uplisting along with some different ways to raise capital to execute and expand our current and future business plans and we will update the public as we make more decisions.”
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a full-service product-development agency that since 1997 has been helping clients connect their products and services to their customers. ACG focuses on creative and design services, printing and packaging, brand and product development, fulfillment, logistics and transportation, strategic consulting, digital marketing and engagement, and software development. For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
PeopleVine is a consolidated platform that allows businesses to build more personal relationships with their customers at scale. PeopleVine solves the problem businesses have creating and managing holistic relationships with their customers without using multiple products that only support a portion of the relationship building activities. PeopleVine seamlessly brings together the tools needed to market, sell, and operate a business with streamline efficiencies in a customer engagement suite and enables businesses to make data informed decisions to help generate revenue growth.
PeopleVine is becoming an industry leader in the growth market of incubators and coworking spaces. Our platform is used by the best in the industry, from 1871 and mHub, to Daymond John’s Blueprint + Co and the Playboy Club. These clients need a robust platform to manage and engage with their members and PeopleVine supports them in this effort. In addition to these incubators and coworking spaces, PeopleVine also works with United Airlines, Chick-fil- a, and Bosch.
We are committed to being the most essential and adaptive SaaS engagement platform for companies that take a customer centric approach to business.
For more information www.PeopleVine.com
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.
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