Business
Alliance Creative Group (ACGX) Reports Q1 '18 Revenue Above $5,000,000 and Confirms Not Reversing Stock
Alliance Creative Group (ACGX) Reports Q1 '18 Revenue Above $5,000,000 and Confirms Not Reversing Stock.
About this update from Alliance Creative Group, Inc.
[{"type":"text","content":"\nLetter to shareholders released to clarify some confusion\n CHICAGO, IL. , May 15, 2018 (GLOBE NEWSWIRE) -- Alliance Creative Group, Inc. (AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce the results of Operations for the Three Months Ended March 31, 2018. Revenues for the quarter ending March 31, 2018 (“Q1 2018”) were $5,026,388 Gross Profits for the quarter ending March 31, 2018 (“Q1 2018”) were $927,448. Net Incomes for the quarter ending March 31, 2018 (“Q1 2018”) were $47,583 The total assets on the Balance Sheet for the Alliance Creative Group as of 3/31/18 were $6,874,037. The total outstanding common shares as of March 31, 2018 were 1,875,103,928 with 1,774,782,953 of those shares in the float. Company ended the quarter with $93,726 in the bank. The full financial statement, balance sheet, cash flow statement, stockholder equity and information 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. In addition to the quarterly financial report and disclosure statement the Company has also released a shareholder letter to help clarify some potential confusion.  The letter can be found on the OTCmarkets.com under Disclosures and on the www.ACGX.us website under the investor relations section. Paul Sorkin, COO and General Counsel of the Alliance Creative Group, said “This Quarter included many positive changes but also caused some confusion in the market.  The confusion began and rumors started to spread due to the fact that the stock has been trading below a penny and for a company to uplist to the OTCQB it must trade above a penny for 30 days.  Therefore, if a company wants to become a fully reporting audited company and to uplist to the OTCQB they either need to trade above a penny or consider reversing the stock to get above a penny.  Our current and original plans and desires were and are ideally to get to the OTCQB without a reverse. We believe the potential negative effects of a near-term reverse has given the shorters too much power and control to drive down our stock.  Therefore, we are clarifying our position that we are not reversing the stock ...