Business
PeopleVine Spun Off to Separate Corporation to Better Prepare for Potential Partners
PeopleVine Spun Off to Separate Corporation to Better Prepare for Potential Partners.
About this update from Alliance Creative Group, Inc.
[{"type":"text","content":"\n \n \n PeopleVine Spun Off to Separate Corporation to Better Prepare for Potential Partners\n \n \nPeopleVine Spun Off to Separate Corporation to Better Prepare for Potential Partners\n\nACGX receives shares of new corporation and board seat\n\n \n CHICAGO, IL--(Marketwired - Oct 9, 2017) -  Alliance Creative Group, Inc. (AllianceCreativeGroup.com) (OTC PINK: ACGX) is pleased to announce that software company, PeopleVine, has been spun off into its own private Delaware Corporation. \n The new company will start with 2 board members, Jordan Gilman and Paul Sorkin. Alliance Creative Group, Inc. has been the sole investor to date and has invested $700,000 in cash and services since 2015 and will be a shareholder of the new Corporation. The same two original founders of PeopleVine are also shareholders of the new corporation. \n Alliance Creative Group, Inc. (Stock symbol ACGX) currently owns 3,364,375 shares of the new private corporation with a current value of $.50 per share based on the price of the last investment into the new company. \n PeopleVine will continue discussions and possible partnerships, investments, and strategic alliances with multiple potential parties. \n President and Founder of PeopleVine, Jordan Gilman, said, \"Alliance Creative Group has been an amazing partner. Their team and capital have helped us create a significantly improved platform with even more advanced features in our all-in-one CRM marketing platform. This new structure will allow us to have more focused conversations with potential investors and partners and hopefully allow us to grow faster.\" \n Paul Sorkin, COO and General Counsel of Alliance Creative Group and PeopleVine, said, \"Our original goals with PeopleVine included improving the overall UI/UX experience, adding clients, and increasing the number of useful features in the platform. After accomplishing those goals we have been evaluating multiple ways to accelerate the growth and traction and secure strategic partnerships with people with industry experience and additional resources to help elevate us to the next level. As for ACGX, our higher priorities have included reducing our debt and dilution while positioning ourselves for more increased growth without the need for substantial share dilution. This new structure allows us...