Alliance Creative Group (ACGX) Reports Second Quarter of 2023 Financials
ACG added an Equity position in an exciting growing brand
Chicago, IL –Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (Stock Symbol OTC: ACGX) is pleased to announce the results of Operations for the Three Months and Quarter Ending June 30, 2023.
Revenues for the quarter ending June 30, 2023 (“Q2 2023”) were $322,827
Gross Profits for the quarter ending June 30, 2023 (“Q2 2023”) were $322,827
Net Income for the quarter ending June 30, 2023 (“Q2 2023”) were ($54,484)
The total assets on the Balance Sheet for the Alliance Creative Group as of 6/30/23 were $4,943,921
The total outstanding common shares as of June 30, 2023 (“Q2 2023”) were 3,454,211 with 2,198,971 of those shares in the float.
The Company ended the quarter with $150,328 Cash on hand.
Total Stockholder Equity as of 6/30/23 was $739,236
The full financial statement, balance sheet, statement of operations, cash flow statement, and disclosure statements are posted on the OTC Market Company website at 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.
Paul Sorkin, CEO of the Alliance Creative Group, Inc. said, “The 2nd quarter of 2023 included continued progress and some significant changes. We entered into a secured loan and equity agreement with Say Less Spritz, LLC, who acquired the rights to the Coastal Spritz brand. The agreement gives ACGX a 5% equity position while earning interest on the secured loan. ACG has also entered into a consulting agreement with Say Less Spritz that will pay ACG monthly. We are very excited about the Coastal Spritz brand and the opportunities with Say Less Spritz and believe the company has opened a number of very strategic distribution and retail relationships that will help provide a solid foundation for the company to grow from. We have received some interest in the Wayne property and are in negotiations to potentially sell it before the end of the year for a good profit. Our goal would be to use that extra capital to reinvest in other revenue producing assets that will allow us to continue to execute on our long-term business plans. The lower revenue for this quarter was caused by a few delays with some of our peak construction projects but we hope to know more about the realistic timelines and scope for those and other projects soon. PeopleVine has been performing incredibly well in 2023 and the pipeline continues to increase. The company has become a very solid and consistent profitable and positive cash flow SAAS company. PeopleVine has also been engaging in multiple conversations with potential future investors about possibly adding new growth capital and valuable introductions and resources to accelerate the business faster. Overall, we knew our new business plans and focus would take time to evolve and we are very pleased with the initial progress. We are continuing multiple conversations with potential acquisition targets, projects, strategic partners, investors, and other opportunities to determine the best fits. Our foundation and structure remains attractive for multiple potential opportunities and our long term goals are still based on building our shared resources foundation to position ourselves to own multiple vertically integrated portfolio companies that, if we are successful, can each reduce their expenses by leveraging our resources and relationships to increase the overall assets and revenues over time to hopefully create a larger return for everyone involved. We will continue to update the public as things are finalized and will share more details as they become available.”
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a Parent Holding Company on the OTC market. The strategy ACG intends to deploy is a shared resource model where internal divisions, portfolio companies and strategic investments are vertically integrated, optimizing efficiencies and cost savings. ACG will apply some of its resources towards diversified classifications of real estate with a strong focus on distressed assets and healthcare. ACG will leverage its internal construction company to provide services while looking for some distressed value-add projects and opportunities. The remaining resources may be applied to a mix of early-stage equity investments in companies that synergize with the company’s shared resource model and secured investment opportunities. ACG’s strategic mission is to utilize a unique blend of capital, relationships, experience, and secured investment structures to increase value for its clients, partners, investors, and shareholders while reducing the overall risk. The company’s big picture long term plan is to create an ecosystem of shared resources that can provide quality resources with reduced expenses while acting as a partner for internal projects. The intent is to have multiple businesses and investment projects or divisions to help diversify the risk and generate potential revenue in multiple ways while leveraging both the private and public markets. For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
PeopleVine is a Software as a Service (SAAS) company that specializes in serving the Lifestyle Hospitality industry. The Member Experience & CRM Software allows luxury hotels, resorts, and private member clubs to elevate a more personalized online membership experience. PeopleVine helps their clients build member communities, drive engagement, and connect the dots that elevate experiences and revenues. The software empowers its clients teams to deliver efficiently managed operations through an integrated platform. PeopleVine is 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
About Coastal Spritz
Coastal Spritz is a low ABV premium light wine in a can. Coastal blends a carefully sourced selection of West Coast rosé and wine varietals with sparkling water and real fruit juice to create a single serving ready to drink (RTD) wine in a can. The Award winning Coastal provides 6 flavors: Classic Rosé Spritz, Pineapple Rosé Spritz, Watermelon Rosé Spritz, Pinot Noir, Chardonnay, and Sauvignon Blanc. All products are 100 calories or less, 5 grams of sugar or less, and contain all natural ingredients. The rosé collection is sweetened with monk fruit to provide a cleaner and more enjoyable drinking experience without compromising on taste or quality. The Coastal Spritz brand is growing fast and gaining momentum. Currently, Coastal can be found in over a dozen states and in over 1,000 stores. Some retailers include: Trader Joes, HEB, Jewel Osco, Meijer, Liquor Barn, and lots more, as well as GoPuff and SpiritHub online. Coastal can also be found in iconic venues such as Wrigley Field, The Grand Ol' Opry, and The Philadelphia Zoo, where the brand continues to captivate wine enthusiasts who are looking for a refreshing and convenient beverage choice.
This news release contains forward-looking statements as defined by the bespeaks-caution doctrine. 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.
For more info: www.CoastalSpritz.com
Investor Relations and Media Contact