Company focusing more on its core packaging solutions business in 2019
CHICAGO, March 28, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (ACGX) is pleased to announce the results of Operations for the Three Months Ended December 31, 2018 and the 2018 Annual Financials.
Revenues for the quarter ending December 31, 2018 (“Q4 2018”) were $3,750,842
Total Revenue for the year ending December 31, 2018 (“2018”) was $15,339,599
Gross Profits for the quarter ending December 31, 2018 (“Q4 2018”) were $2,053,405
Gross Profits for “2018” were $4,590,011
Net Income for the quarter ending December 31, 2018 (“Q4 2018”) were $11,074
Net Income for “2018” was $475,139
The total assets on the Balance Sheet for the Alliance Creative Group as of 12/31/18 were $7,208,321.
The total outstanding common shares as of December 31, 2018 were 2,098,651,682 with 1,998,330,307 of those shares in the float.
The Company ended the quarter with $231,959 in the bank.
Total Stockholder Equity as of 12/31/18 was $4,061,229
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. There will not be an earnings call this year. The reduction in total revenues compared to 2017 is due to the transitioning and discontinuing of the Primary Trucking and Rapid Freight Solutions services.
The Company is still in the process of completing PCAOB audits of prior periods and will disclose the report information to the public when it is completed.
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, Inc., said, “This year included a lot of transitioning our focus from trucking services back to our core business of offering packaging solutions to our clients. We continued to reduce our debt and expenses while creating more future efficiencies to help us attempt to create a better growth company in the future. We will continue to evaluate other opportunities and discuss any and all options for us to create more future shareholder value. We believe the changes we have been making and will continue making will better position us to become a more expandable, scalable, investable company in the future. We are also very excited about the future potential of PeopleVine. We were able to add some key clients and features in 2018 and believe 2019 could be the crucial break-out year we’ve been working towards.”
CEO of the Alliance Creative Group, Steven St. Louis, said, “We have re-focused more of the company's resources on our core of being a packaging solutions company. From this re-focus we have grown our fulfillment solutions and our clients are finding value in our expanded services. We will continue to evaluate multiple ways to expand these services in the future. We believe the reason we have so many long term relationships is because we offer a very valuable service to our clients. However, we believe we need to continue improving our internal processes to help us grow faster in the future. The team has worked very hard and will continue to work hard to allow us to leverage our improved foundation to increase our growth rate while maintaining the highest quality of our services.”
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (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 8 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.
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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