First 6 Months of 2017 Net Income up Over $500,000 Compared to Last Year
CHICAGO, IL / ACCESSWIRE / August 9, 2017 / Alliance Creative Group, Inc. (AllianceCreativeGroup.com) (OTC PINK: ACGX) is pleased to announce the results of Operations for the Three Months Ended June 30, 2017.
Revenues for the quarter ending June 30, 2017 ("Q2 2017") were $4,733,909 compared to $2,853,307 for the quarter ending June 30, 2016 ("Q2 2016") or an increase of $1,880,602 or 66% increase.
Gross Profits for the quarter ending June 30, 2017 ("Q2 2017") were $930,655 compared to $651,161 for the quarter ending June 30, 2016 ("Q2 2016") or an increase of $279,494 or 43% increase.
Net Incomes for the quarter ending June 30, 2017 ("Q2 2017") were $232,438 compared to $15,785 for the quarter ending June 30, 2016 ("Q2 2016") or an increase of $216,653 or an increase of 1,373%.
The total assets on the Balance Sheet for the Alliance Creative Group as of 6/30/17 were $6,612,978, up $910,352 from 06/30/16.
The total outstanding common shares of stock symbol ACGX as of June 30, 2017, and still as of August 8, 2017, were 1,539,196,388 with 1,408,875,413 of those shares in the float.
The Company ended the quarter with $240,511 in the bank.
Long Term Liabilities (including accrued interest) were reduced by $424,231 in the 2nd Quarter ending June 30, 2017.
The full financial statement, balance sheet, cash flow statement, stockholder equity and information and disclosure statements are posted on the company's website at AllianceCreativeGroup.com or www.ACGX.us under investor relations and on www.OTCmarkets.com under the stock symbol ACGX under the section for filings and disclosure section.
CEO of the Alliance Creative Group, Steven St. Louis, said, "We have turned the corner and are now able to start reaping some of the benefits from our past investments with continued growth in revenues and profits. We feel confident we will be able to execute more of our business plans for the rest of 2017 and into 2018."
Paul Sorkin, COO, and General Counsel, said, "In a shared resources type of company you always have a lot of moving parts with multiple challenges. Our team has handled a variety of difficult tasks during the last few quarters and we have improved many of our internal and external processes and have continued to solidify our base and expand in multiple directions simultaneously. We are very proud of our substantial increase in revenues and profits during the first 6 months of the year and our significant reduction of debt. We will share more details with the public regarding some specific projects and the settled lawsuit during the next few weeks and months. The last 6 months have possibly been the best 6 months in the history of the company and we believe we can continue our positive progress in the upcoming quarters and years."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a full-service product-development agency that since 1997, has been helping clients connect their products and services to their customers. ACG focuses on creative and design services, printing and packaging, brand and product development, fulfillment, logistics and transportation, strategic consulting, digital marketing and engagement, and software development. For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
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This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. 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