Alliance Creative Group (ACGX) Reports Total Revenue of $2,103,920 for Second Quarter of 2020 with Gross Profit of $532,486
Alliance Creative Group, Inc. (ACGX) announced its Q2 2020 financial results, reporting revenues of $2,103,920, gross profits of $532,486, and a net income of $15,576. As of June 30, 2020, the company had total assets of $4,176,569 and cash on hand of $197,887. Total stockholder equity stood at $1,698,499. CEO Steve St. Louis expressed confidence in the company's strong positioning despite challenges, citing efficiency improvements from a new office and warehouse. ACG focuses on retail packaging and has been operational since 1997.
- Revenues increased to $2,103,920 for Q2 2020.
- Gross profits amounted to $532,486.
- Net income of $15,576 indicates profitability.
- Total stockholder equity is $1,698,499, reflecting financial stability.
- Cash on hand of $197,887 supports operations.
- None.
CHICAGO, Aug. 14, 2020 /PRNewswire/ -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce the results of Operations for the Three Months Ending June 30, 2020.
Revenues for the quarter ending June 30, 2020 ("Q2 2020") were
Gross Profits for the quarter ending June 30, 2020 ("Q2 2020") were
Net Income for the quarter ending June 30, 2020 ("Q2 2020") were
The total assets on the Balance Sheet for the Alliance Creative Group as of 06/30/20 were
The total outstanding common shares as of June 30, 2020 ("Q2 2020") were 968,044 with 758,154 of those shares in the float.
The Company ended the quarter and year with
Total Stockholder Equity as of 06/30/20 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, "considering all the challenges we are dealing with on a daily basis I believe we have performed better than most businesses and are positioned very well now to be able to weather this storm and come out the other side as strong or stronger. The new office and warehouse are proving to be a positive move that has helped reduce our expenses while improving our efficiency and giving us back more control over the movement of our local inventory. We also decided to make a few relevant adjustments on our balance sheet to more appropriately represent our sellable inventories as well as adjusted some prior uncollectible receivables and goodwill amounts from older transactions. I believe the biggest challenges are behind us and we are positioned well to continue to improve and grow moving forward."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: 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 7 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.
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 and the Playboy Club. 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
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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SOURCE Alliance Creative Group, Inc.
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