Alliance Creative Group (ACGX) Announces the Removal of their DTCC Deposit Chill Company Amending Preferred Stock Terms to Benefit Current Shareholders
CHICAGO, Nov. 1, 2012 /PRNewswire/ -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (Stock Symbol: ACGX.pk) is pleased to announce the removal of the DTCC Deposit Chill on its stock and the amending of the terms of the company's preferred stock to benefit current shareholders.
Attorney Simon Kogan represented the company and was able to help clear up any confusion by sharing all requested documentation with The Depository Trust & Clearing Corporation (DTCC) and getting the chill lifted so the company can resume accepting deposits and book-entry transfer services.
CEO of the Alliance Creative Group, Steven St. Louis, said, "Our attorney Simon Kogan deserves a lot of credit for helping us resolve this very frustrating and unfortunate situation. Now that we have resolved this issue we are going to continue working on growing the business and increasing shareholder value. In a significant step to improve shareholder value we are amending our Preferred Stock rights from 1000 to 1 voting and conversion rights to 25 to 1. There are 5 million outstanding preferred shares, however we have not converted any preferred stock into common shares and have no plans to do so at this time." St. Louis went on to say, "Our Q3 #s will be released around the middle of November and we will be adding more detailed updates and disclosures in our 3rd Quarter reports that will be posted on the OTC Markets."
About Alliance Creative Group, Inc.
ALLIANCE CREATIVE GROUP, Inc. (Stock Symbol: ACGX) is a printing, packaging and brand management marketing company. The Alliance Creative Group utilizes shared resources to create efficiencies between their projects and internal divisions to create quality results and long-term partnerships. The core business areas include creative and design services, printing and packaging, product fulfillment & logistics and strategic marketing. www.AllianceCreativeGroup.com
About Simon Kogan, ESQ
Mr. Kogan is a senior litigator with over 20 years of experience in complex cases from inception to trial and beyond. He has personally managed dozens of arbitration and related matters for both brokers and public customers and generated over $400,000 per year in annual billings. Mr. Kogan has a long history as a partner in boutique securities firm where he developed and maintained the firm's intranet and use of technology for litigation support. Through his private practice and in cooperation with other lawyers, Mr. Kogan handles civil litigation and private securities matters, including private placements and reverse mergers. From 1993-95, Mr. Kogan taught legal writing as an Adjunct Professor of Law at New York Law School.
For Mr. Kogan's website please go to http://mysite.verizon.net/vzexoxyk/simonskoganesqattorneyatlaw/.
To contact via email firstname.lastname@example.org or via phone 718-984-3789.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plan, 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.