$ACGX News! Alliance Creative Group (ACGX) Reports Q1 '18 Revenue Above $5,000,000 and Confirms Not Reversing Stock
May 15, 2018 (GLOBE NEWSWIRE via COMTEX) -- Letter to shareholders released to clarify some confusion
CHICAGO, IL. , May 15, 2018 (GLOBE NEWSWIRE) -- Alliance Creative Group, Inc. (AllianceCreativeGroup.com) ACGX, +9.09% is pleased to announce the results of Operations for the Three Months Ended March 31, 2018.
Revenues for the quarter ending March 31, 2018 ("Q1 2018") were $5,026,388
Gross Profits for the quarter ending March 31, 2018 ("Q1 2018") were $927,448.
Net Incomes for the quarter ending March 31, 2018 ("Q1 2018") were $47,583
The total assets on the Balance Sheet for the Alliance Creative Group as of 3/31/18 were $6,874,037.
The total outstanding common shares as of March 31, 2018 were 1,875,103,928 with 1,774,782,953 of those shares in the float.
Company ended the quarter with $93,726 in the bank.
The full financial statement, balance sheet, cash flow statement, stockholder equity and information 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.
In addition to the quarterly financial report and disclosure statement the Company has also released a shareholder letter to help clarify some potential confusion. The letter can be found on the OTCmarkets.com under Disclosures and on the www.ACGX.us website under the investor relations section.
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, said "This Quarter included many positive changes but also caused some confusion in the market. The confusion began and rumors started to spread due to the fact that the stock has been trading below a penny and for a company to uplist to the OTCQB it must trade above a penny for 30 days. Therefore, if a company wants to become a fully reporting audited company and to uplist to the OTCQB they either need to trade above a penny or consider reversing the stock to get above a penny. Our current and original plans and desires were and are ideally to get to the OTCQB without a reverse. We believe the potential negative effects of a near-term reverse has given the shorters too much power and control to drive down our stock. Therefore, we are clarifying our position that we are not reversing the stock at this time. We will continue to work on the 2 years of PCAOB audits for 2016 and 2017, and future 10Q filings, while we evaluate all of our options for uplisting to a higher exchange. We will also discuss different ways to raise capital to execute and expand our current and future business plans. We have released a more detailed shareholder letter to address other areas of possible confusion related to our trucking companies, the structure and value of PeopleVine, overall 2018 projections, and other misc. We greatly appreciate all of our supportive long-term shareholders and will continue to try to find ways to improve the Company's stock price - One important way at this time is to NOT reverse the stock - so we will NOT be reversing the stock at this time."
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. 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