ALLIANCE CREATIVE GROUP (ACGX) RELEASES FINANCIALS FOR Q3’2017 - REVENUES INCREASED BY OVER $2,200,000 or 95% COMPARED TO Q3’2016
Third Quarter Gross Profits up 41% compared to Third Quarter 2016
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, 2017.
Revenues for the quarter ending September 30, 2017 (“Q3 2017”) were
$4,550,757 compared to $2,345,384 for the quarter ending September 30, 2016 (“Q3 2016) or an increase of $2,205,373 or 94% increase.
Gross Profits for the quarter ending September 30, 2017 (“Q2 2017”) were $802,550 compared to $570,838 for the quarter ending September 30, 2016 (“Q3 2016) or an increase of $231,712 or 41% increase.
Net Incomes for the quarter ending September 30, 2017 (“Q3 2017”) were $32,026 compared to a loss of ($55,457) for the quarter ending September 30, 2016 (“Q3 2016) or an increase of $87,388.
The total assets on the Balance Sheet for the Alliance Creative Group as of 9/30/17 were $6,676,087 compared to $5,466,137 as of 09/30/16. An increase of $1,209.950 or 22%.
The total outstanding common shares as of September 30, 2017 were 1,614,560,106 with 1,484,234,806 of those shares in the float.
The Company ended the quarter with $142,070 in the bank.
The Year to date revenue as of 09/30/2017 was $13,869,102 compared to $7,917,384 for the 9 months year to date as of 09/30/2016. An increase of $5,951,718 or 75% increase.
Long Term Liabilities (including accrued interest) were reduced by $183,785 in the 3rd Quarter ending September 30, 2017.
The full financial statement, balance sheet, cash flow statement, stockholder equity and information and disclosure statements are posted on the company's website at AllianceCreativeGroup.com or www.ACGX.us under investor relations and on www.OTCmarkets.com under the stock symbol ACGX under the section for filings and disclosure section.
CEO of the Alliance Creative Group, Steven St. Louis, said “Our team continues to work very hard to execute our business plans and every quarter it becomes more obvious internally that we are making significant strides towards our goals. Although all growth comes with challenges I feel very confident that we are making positive changes and I see continued progress in our future.”
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, Inc., said “During the last 11 quarters we have invested, advanced, and/or had one-time expenses totaling over $1,700,000 to help improve our foundation, expand our products and services, diversify our customer base, and prepare for larger future growth. During that same time period we have added about $7,000,000 of future annual revenues and reduced our convertible debt by over $1,000,000. The transition and evolution of our company has been a long and detailed process but the results are starting to become more evident. The next few quarters will be significant for us to continue to reduce our convertible debt to zero and leverage the shared resources we have been building to maximize the economies of scale and create long-term shareholder value.”
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.
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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 com
petition 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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