Alliance Creative Group (ACGX) Releases Q1 2024 Financial and Disclosure Report with an 88% increase in Net Income from Q1 2023 to Q1 2024
Alliance Creative Group (ACGX) announced its Q1 2024 financial results, reporting an 88% increase in net income from Q1 2023 to Q1 2024. Revenues and gross profits for Q1 2024 were $217,916, and net income was $142,330. The company listed its West Devon property for sale at $3.95 million with a 7.97% cap rate. As of March 31, 2024, total assets stood at $4,531,689, with cash on hand of $156,554. Outstanding common shares were 4,454,211, with 2,799,023 shares in the float. CEO Paul Sorkin emphasized the company's strategy of low expenses and strategic investments to drive growth, with PeopleVine having a strong quarter and ongoing discussions for future opportunities.
- Net income increased by 88% from Q1 2023 to Q1 2024.
- Revenues for Q1 2024 were $217,916.
- Gross profits for Q1 2024 amounted to $217,916.
- Cash on hand as of March 31, 2024, was $156,554.
- Total assets as of March 31, 2024, were $4,531,689.
- PeopleVine had a strong quarter, indicating positive performance.
- No revenue growth compared to the previous quarter.
- The West Devon property being listed for sale may indicate a need for liquidity.
- Outstanding common shares remain high, which could lead to potential dilution for shareholders.
West Devon Property listed for sale at
Revenues for the Quarter ending March 31, 2024 ("Q1 2024") were
The total assets on the Balance Sheet for the Alliance Creative Group as of 3/31/24 were
The total outstanding common shares as of March 31, 2024 were 4,454,211 with 2,799,023 of those shares in the float - Same as the end of the third quarter.
The Company ended the quarter with
The property located at 1324 W. Devon Ave,
https://www.loopnet.com/Listing/1324-W-Devon-Ave-Chicago-IL/31610262/
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, "This quarter was a continuation of keeping our expenses as low as possible while we attempt to sell the 1324 W. Devon property and look for the next best strategic investment, acquisition, or partnership to continue to grow our positive cashflow and position ourselves for potentially larger opportunities.
PeopleVine had another strong quarter and we are engaging in multiple conversations to determine the best next steps for us.
Overall we are in search of a potential strategic acquisition or project that can leverage our foundation to grow and scale faster than on their own. We will continue to update the public as things progress 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
1-312-498-9769; info@ACGemail.com
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SOURCE Alliance Creative Group, Inc.
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