Business
Alliance Creative Group (ACGX) Reports Total Revenue of $2,535,734 for Q1 2019 with total assets over $7,000,000
Alliance Creative Group (ACGX) Reports Total Revenue of $2,535,734 for Q1 2019 with total assets over $7,000,000.
About this update from Alliance Creative Group, Inc.
[{"type":"text","content":"\nCHICAGO, May 14, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (OTC: ACGX) is pleased to announce the results of Operations for the Three Months Ending March 31, 2019 and the 2019 Quarterly Financials.  Revenues for the quarter ending March 31, 2019 (“Q1 2019”) were $2,535,734 Gross Profits for the quarter ending March 31, 2019 (“Q1 2019”) were $727,768 Net Income for the quarter ending March 31, 2019 (“Q1 2019”) were 32,340 The total assets on the Balance Sheet for the Alliance Creative Group as of 3/31/19 were $7,158,344. The total outstanding common shares as of March 31, 2019 were 2,193,538,213 with 2,098,651,682 of those shares in the float. The Company ended the quarter with $109,418 in the bank. Total Stockholder Equity as of 3/31/19 was $4,094,585  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.  The reduction in total revenues in Q1 2019 compared to Q1 2018 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 quarter represented a significant step in our continued transition to reduce our trucking business and increase our focus on fulfillment and packaging services.  The revenue was reduced due to the discontinued trucking business but so were the expenses.  We improved our gross profit and general expense ratios and are positioning ourselves to actively pursue the growth and expansion of our core competency and more focused value proposition.  As we continue to evaluate all our future options we have put a higher priority on reducing our future risks and expenses.  We are also trying to improve our cash flows to become more desirable for potential future lenders or investors.  We understand we are progressing slower than...