Alliance Creative Group (ACGX) Releases 2023 Annual Financial and Disclosure Report - PeopleVine's revenue increased by 100% in 2023
- Revenue for PeopleVine doubled in 2023, with a 100% increase.
- Net profit for PeopleVine tripled in 2023.
- Total assets for Alliance Creative Group were $4,295,764 as of December 31, 2023.
- The CEO discussed the potential sale of PeopleVine shares to fund future projects and investments.
- The Wayne Property project is nearing completion of renovations and aims to attract potential buyers.
- Coastal Spritz rebranded to 'Say Less Spritz' and partnered with industry experts for growth.
- Peak Construction projects faced delays and cancellations, leading to a change in accounting methods to Cash Basis.
- Alliance Creative Group is exploring acquisition targets, partnerships, and new investors to enhance future growth.
- None.
Alliance Creative Group (ACGX) Releases 2023 Annual Financial and Disclosure Report
PeopleVine's revenue increased by
Revenues for the Year ending December 31, 2023 ("2023") were
Gross Profits for the Year ending December 31, 2023 ("2023")were
Net Income for the Year ending December 31, 2023 ("2023") were
The total assets on the Balance Sheet for the Alliance Creative Group as of 12/31/23 were
The total outstanding common shares as of December 31, 2023 were 4,079,211 with 2,424,023 of those shares in the float - Same as the end of the third quarter.
The Company ended the quarter with
*The Company changed to Cash Basis accounting to avoid confusion with the delayed Peak Construction projects.
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, "Our potentially most valuable asset/investment (The PeopleVine shares) had its best year ever. Overall revenues for PeopleVine doubled and the Net Profit Tripled. We believe PeopleVine has reached its tipping point and is potentially ready to bring in outside investors and strategic partners to help with the next stage of the company. What this means for ACGX is a potential sale of a portion of the shares to help fund other potential future projects and investments while still maintaining the majority of the position to hopefully benefit from any continued growth.
The overall goal is to diversify our investments to reduce the risk and look for a positive cashflow company that we can acquire to improve the overall future value for ACGX investors and shareholders.
The Wayne Property project has completed almost all of its renovations and hopes to have the final 2 units rented soon. The property is in an area with increasing investment interest and once it is fully rented and all additional expenses are paid for we expect to have a good positive cashflow to attract a quality buyer to hopefully sell the property this year.
Coastal Spritz is transitioning to its new name "Say Less Spritz". The Company has partnered with a new Co-Packer and a long-time industry expert to help with the rebranding. The Company is also in discussions with an experienced sales team and hopes to engage their team to help maintain and grow in new marks. We are also very proud to say that the product can be found in Wrigley Field again this year.
Peak Construction continued to have delayed and canceled projects. To avoid any confusion or a misunderstanding related to our financials we changed to Cash Basis accounting from Accrual to only record the money we received from completed projects. Therefore, you will notice we no longer have any AR or AP listed for any potential projects and will instead only report the actual projects that were paid for.
We are continuing multiple conversations with potential acquisition targets, projects, strategic partners, investors, and other opportunities to determine the best fits for ACGX as well as possible new investors for PeopleVine. 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 companies that, if we are successful, can each reduce their expenses by leveraging our resources and relationships to increase the overall assets, revenues, and profits 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, Real Estate projects, and strategic investments are vertically integrated, optimizing efficiencies and cost savings. 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.
About PeopleVine
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 Say Less Spritz
Say Less Spritz is a low ABV premium light wine in a can. Say Less 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 Products come in 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. Currently, Products can be found in over a dozen states and in over 1,000 stores. Some retailers include: HEB, Jewel Osco, Meijer, Liquor Barn, and lots more, as well as GoPuff and SpiritHub online. Product 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.SayLessSpritz.com
Investor Relations and Media Contact
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SOURCE Alliance Creative Group, Inc.
FAQ
What was the revenue increase for PeopleVine in 2023?
What were the total assets for Alliance Creative Group as of December 31, 2023?
What change did the company make in its accounting method?
What is the new name for Coastal Spritz?
What is the CEO's plan regarding potential partnerships and investments?
What is the current status of the Wayne Property project?
How did Peak Construction projects impact the company's financials?
What is Alliance Creative Group exploring for future growth?
