Alliance Creative Group (ACGX) Reports Total Revenue of $2,772,576 for Q2 2019 and Improves Net Income by over $470,000 Compared to Q2 2018
Shareholder Equity over $4,000,000 as of June 30, 2019
Chicago, IL -- August 14, 2019 -- InvestorsHub NewsWire -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (Stock Symbol OTC: ACGX) is pleased to announce the results of Operations for the Three Months Ending June 30, 2019 and the 2019 Quarterly Financials.
Revenues for the quarter ending June 30, 2019 (“Q2 2019”) were $2,772,576
Gross Profits for the quarter ending June 30, 2019 (“Q2 2019”) were $657,941
Net Income for the quarter ending June 30, 2019 (“Q2 2019”) were $9,425
The total assets on the Balance Sheet for the Alliance Creative Group as of 6/30/19 were $7,117,559.
The total outstanding common shares as of June 30, 2019 were 2,193,538,213 with 2,098,651,682 of those shares in the float. No new shares have been issued in approximately 167 days.
The Company ended the quarter with $151,022 in the bank.
Total Stockholder Equity as of 6/30/19 was $4,109,281
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. majority of the reduction in total revenues in Q2 2019 compared to Q2 2018 is due to the transitioning and discontinuing of the Primary Trucking and Rapid Freight Solutions services.
The Company is still in the process of completing PCAOB audits of prior periods and will disclose the report information to the public when it is completed.
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, Inc., said, “During this quarter we continued to make significant progress with our transition away from our trucking business and increasing our future focus on fulfillment and packaging services. Our revenues were down, as expected, mostly due to the reduced trucking services but our gross profit margin was up, our expenses are down, and our net income is up. We also continued to increase our assets while reducing our liabilities and increasing our shareholder equity. Transitions take some time and we are frustrated with the delay with our audits but we are working with third parties to attempt to complete that process. In the meantime we are very pleased with our ability to substantially reduce our expenses and reducing our losses to turn things around to generate profits in 2019 after experiencing significant trucking losses in 2018. Our main focus for the rest of 2019 will be to continue our transition and evaluate all our future options to become a more desirable Company for potential future lenders and/or investors. We will share updates as they become available.”
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a Packaging Solutions Company focused on Retail Packaging and Packaging Management. ACG helps its clients from initial concept and packaging development through final production and managed inventory solutions. The core business has been around since 1997. ACG currently focuses mostly on providing solutions for flexible and clear packaging, folding cartons, vendor managed inventory supply chain services and fulfillment. Additional services include but are not limited to corrugated boxes, commercial printing, labels, and other products and services related to the printing or packaging of consumer products. ACG’s team includes experts to provide high-quality packaging and printed products. The ACG experience includes very hands-on operational support out of 8 different warehouse locations and several national and international manufacturing partners. ACG provides customer support during the entire product process or cycle including but not limited to creating, warehousing, delivering, and replenishing their packaging products 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 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.
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