Net income was $15,576 for the second quarter of 2020
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 $2,103,920
Gross Profits for the quarter ending June 30, 2020 (“Q2 2020”) were $532,486
Net Income for the quarter ending June 30, 2020 (“Q2 2020”) were $15,576
The total assets on the Balance Sheet for the Alliance Creative Group as of 06/30/20 were $4,176,569.
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 $197,887 Cash on hand.
Total Stockholder Equity as of 06/30/20 was $1,698,499
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.
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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.