Alliance Creative Group (ACGX) Reports Third Quarter of 2023 Financials

Rhea-AI Summary

Alliance Creative Group (ACGX) reported its financial results for the third quarter of 2023, with revenues, gross profits, and net income all totaling $201,996. The company also returned 3,999,999 Series G Preferred Shares to its treasury, reduced future dilution, and engaged in various growth initiatives across its subsidiaries. The full financial statements and disclosure statements are available on the OTC Market Company website and the company's investor relations section. CEO Paul Sorkin highlighted several updates, including Coastal Spritz's expansion into concerts and ACG's investments in concerts.

• Alliance Creative Group (ACGX) Reports Third Quarter of 2023 Financials 
• 3,999,999 Series G Preferred Shares returned to Company's Treasury in Q3

CHICAGO, Nov. 15, 2023 /PRNewswire/ -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce the results of Operations for the Three Months and Quarter Ending September 30, 2023.

Revenues for the quarter ending September 30, 2023 ("SeptemberQ3 2023") were $201,996

Gross Profits for the quarter ending September 30, 2023 ("SeptemberQ3 2023") were $201,996

Net Income for the quarter ending September 30, 2023 ("SeptemberQ3 2023") were $62,657

The total assets on the Balance Sheet for the Alliance Creative Group as of 9/30/23 were $4,958,759

The total outstanding common shares as of September 30, 2023 ("SeptemberQ3 2023") were 4,079,211 with 2,424,023 of those shares in the float. 

The Company ended the quarter with $85,524 Cash on hand.

Total Stockholder Equity as of 9/30/23 was $1,317,721

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, "We had a number of relevant updates recently.  I returned 3,999,999 Shares of Series G Preferred Convertible Stock to help reduce some future dilution.  We have engaged an experienced real estate broker to list the Wayne Property for what we hope to be a decent profit.  PeopleVine is continuing to grow each quarter and had its best quarter ever.  Coastal Spritz has engaged a long-time industry expert and a very qualified Ecommerce growth company to help increase their DTC (Direct to consumer) online activity.  Coastal is also expanding its sponsorship into concerts and ACG is testing some investments in concerts.  First one being Coastal Spritz Presents DJ Vice Toy Drive at Bourbon Hall in Louisville Dec 16th - tickets are available at https://posh.vip/f/7eb6?t=paul  Overall, the lower revenue for this quarter was caused by a few more delays with some of our peak construction projects but we hope to know more about the realistic timelines and scope for those and other projects soon.  We are continuing multiple conversations with potential acquisition targets, projects, strategic partners, investors, and other opportunities to determine the best fits.  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 portfolio companies that, if we are successful, can each reduce their expenses by leveraging our resources and relationships to increase the overall assets and revenues 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 and strategic investments are vertically integrated, optimizing efficiencies and cost savings.  ACG will apply some of its resources towards diversified classifications of real estate with a strong focus on distressed assets and healthcare.  ACG will leverage its internal construction company to provide services while looking for some distressed value-add projects and opportunities.  The remaining 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 Coastal Spritz

Coastal Spritz is a low ABV premium light wine in a can. Coastal 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 Coastal provides 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. The Coastal Spritz brand is growing fast and gaining momentum. Currently, Coastal can be found in over a dozen states and in over 1,000 stores. Some retailers include: Trader Joes, HEB, Jewel Osco, Meijer, Liquor Barn, and lots more, as well as GoPuff and SpiritHub online. Coastal 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.CoastalSpritz.com

Investor Relations and Media Contact

1-312-498-9769

info@ACGemail.com

View original content:https://www.prnewswire.com/news-releases/alliance-creative-group-acgx-reports-third-quarter-of-2023-financials-301988307.html

SOURCE Alliance Creative Group, Inc.

FAQ

What were Alliance Creative Group's revenues for the third quarter of 2023?

The revenues for the quarter ending September 30, 2023, were $201,996.

What initiatives did Alliance Creative Group engage in during the quarter?

The company returned 3,999,999 Series G Preferred Shares to its treasury, engaged in real estate listing for potential profit, and pursued growth activities across its subsidiaries.

Where can I find Alliance Creative Group's full financial statements and disclosure statements?

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 and on www.ACGX.us in the investor relations section.