ACGX Amends Articles to Reduce authorized shares and Reduce Preferred voting
Press Release | 09/18/2019
ALLIANCE CREATIVE GROUP, INC. AMENDS ITS ARTICLES OF INCORPORATION & ITS CERTIFICATE OF DESIGNATION FOR SERIES G PREFERRED STOCK
CHICAGO, IL -- (SYMBOL: ACGX), September 18, 2019, Alliance Creative Group, Inc., a Nevada corporation (the Company, we, and our) announced that the Company amended both: the Companys Articles of Incorporation and the Companys Certificate of Designation of Preferences for the Companys Series G Preferred Stock, as follows:
(A) We amended the Companys Articles of Incorporation to reduce the amount of our authorized Common Stock (par value $0.0001) to eight (8) million shares.
(B) We amended the Companys Certificate of Designation of Preferences for our Series G Preferred Stock (par value $0.0001) (the Certificate) so that, as amended, the rights of the holders of the Series G Preferred Stock, are as follows:
Section (c.) of the Certificate has been amended so that in the event of any Liquidation, the holders of each share of the Series G Preferred Stock are entitled to only one (1) share of the Companys Common Stock;
Section (d.) of the Certificate has been amended to reduce the conversion rights of the Series G Preferred Stock so that each share is convertible into one (1) share of the Companys Common Stock;
Section (e.) of the Certificate has been amended to reduce the voting rights of the Series G Preferred Stock so that each share is entitled to one (1) vote per share.
The amendments were duly approved and reflect the determination of our Board of Directors to undertake appropriate actions that may serve to support and build value for our Common Stockholders.
Overall, we believe that as a result of these actions and if circumstances and market conditions allow, we may be better able to create and sustain a stronger shareholder value proposition for the holders of our Common Stock. Historically we have followed a policy of reinvesting any profits that we generate to ensure that we add strength to our financial condition. We intend to continue this policy absent a dramatic change in our business. The two amendment actions cited above and our recent reverse stock split (that resulted in the Company reducing the number of Common Stock outstanding to around 600,000 shares) may serve to allow us to achieve and sustain a stronger trading market and a better stock trading level for our Common Stock assuming that our circumstances and market conditions allow. We are a small company and we face all the risks and uncertainties of a small business.
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, Inc. said We believe these amendments will allow the Company to present a more desirable structure to attempt to have future conversations with potential strategic partners, investors, and/or acquirers and increase our ability to evaluate more future opportunities that may position the company, our investors, and shareholders in a way to create more future value.
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a Packaging Solutions Company focused on Retail Packaging and Packaging Management. The Company helps its clients from initial concept and packaging development through final production and managed inventory solutions. The Companys core business has been around since 1997. The Company is primarily focused 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.
The Company has expertise that allows it to provide high-quality packaging and printed products. Overall the Company experience includes very hands-on operational support out of 8 different warehouse locations and several national and international manufacturing partners. The Company seeks to provide customer support during the entire product process or cycle including but not limited to creating, warehousing, delivering, and replenishing their packaging products.
News 
Market Data 
Discover 
AI
