Alliance Creative Group (ACGX) Reports Revenue of $2,974,489 for Second Quarter of 2022
Alliance Creative Group, Inc. (OTC Pink: ACGX) reported a 13.5% increase in quarterly revenues for Q2 2022, totaling $2,974,489. However, the company faced challenges with an increase in cost of goods and reported a net income loss of $86,044. Total assets amounted to $4,099,779, with stockholder equity at $1,504,776. CEO Steve St. Louis noted that inflation is impacting operations but expressed optimism about future growth. The company is exploring acquisition opportunities but a previous potential deal has fallen through.
- Quarterly revenues increased by $354,699, a 13.5% growth compared to 2021.
- Kitting and fulfillment revenues are on the rise, indicating business expansion.
- Net income showed a loss of $86,044 for Q2 2022.
- Inflation is negatively impacting the cost of goods sold.
Quarterly Revenues Increased
Chicago, IL, Aug. 12, 2022 (GLOBE NEWSWIRE) -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (OTC Pink: ACGX) is pleased to announce the results of Operations for the Three Months Ending June 30, 2022.
Revenues for the quarter ending June 30, 2022 ("Q2 2022") were
Gross Profits for the quarter ending June 30, 2022 ("Q2 2022") were
Net Income for the quarter ending June 30, 2022 ("Q2 2022") were -(86,044)
The total assets on the Balance Sheet for the Alliance Creative Group as of 06/30/22 were
The total outstanding common shares as of June 30, 2022 ("Q2 2022") were 2,604,211 with 1,648,971 of those shares in the float.
The Company ended the quarter with
Total Stockholder Equity as of 06/30/22 was
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.
Steve St. Louis, CEO of the Alliance Creative Group, Inc., said, "Q2 saw an increase in revenue but also included an increase in our cost of goods. Inflation is hurting our business but we are positioned well to push through these challenging times and maintain and grow our business while we wait for better overall future economic times. We have increased our kitting and fulfillment revenues again this quarter and are in discussions to continue to expand that side of the business.
St. Louis, also said, we have previously stated that we have been evaluating all business options for ACGX and one of those opportunities was to possibly enter into a transaction to allow a faster growing company to acquire ACGX to potentially create more future value for our shareholders. Unfortunately, that specific group that expressed interest has decided not to proceed with a transaction and we will not be moving forward with them. However, now that we have gone through the due diligence process with them and better understand the current market conditions we are going to continue to engage in other conversions with other possible groups to see if we can complete a deal in the future. We will update the public if or when we are able to make any significant progress with any other groups and/or close a transaction."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (OTC Pink: 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 6 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.
About PeopleVine
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.
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
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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