Business
Alliance Creative Group (ACGX) Reports Total Revenue of $2,772,576 for Q2 2019 and Improves Net Income by over $470,000 Compared to Q2 2018
Alliance Creative Group (ACGX) Reports Total Revenue of $2,772,576 for Q2 2019 and Improves Net Income by over $470,000 Compared to Q2 2018.
About this update from Alliance Creative Group, Inc.
[{"type":"text","content":"\nCHICAGO, Aug. 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 June 30, 2019 and the 2019 Quarterly Financials.\n Revenues for the quarter ending June 30, 2019 (“Q2 2019”) were $2,772,576 Gross Profits for the quarter ending June 30, 2019 (“Q2 2019”) were $657,941 Net Income for the quarter ending June 30, 2019 (“Q2 2019”) were $9,425 The total assets on the Balance Sheet for the Alliance Creative Group as of 6/30/19 were $7,117,559. The total outstanding common shares as of June 30, 2019 were 2,193,538,213 with 2,098,651,682 of those shares in the float.  No new shares have been issued in approximately 167 days.  The Company ended the quarter with $151,022 in the bank. Total Stockholder Equity as of 6/30/19 was $4,109,281 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.  Majority of the reduction in total revenues in Q2 2019 compared to Q2 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, “During this quarter we continued to make significant progress with our transition away from our trucking business and increasing our future focus on fulfillment and packaging services.  Our revenues were down, as expected, mostly due to the reduced trucking services but our gross profit margin was up, our expenses are down, and our net income is up.  We also continued to increase our assets while reducing our liabilities and increasing our shareholder equity.  Transitions take some time and we are frustrated with the delay with our audits but we are working with third parties to attempt to complete that process.  In the meantime we are very pleased with ou...