Alliance Creative Group (ACGX) Reports Total Revenue of $2,350,457 for First Quarter of 2020 With Gross Profit of $576,034
Move to new office and warehouse completed to create more efficiency
May 14, 2020, 16:30 ET
CHICAGO, May 14, 2020 /PRNewswire/ -- Alliance Creative Group, Inc., (http://www.AllianceCreativeGroup.com) (Stock Symbol OTC: ACGX) is pleased to announce the results of Operations for the Three Months Ending March 31, 2020.
Revenues for the quarter ending March 31, 2020 ("Q1 2020") were $2,350,457
Gross Profits for the quarter ending March 31, 2020 ("Q1 2020") were $576,034
Net Income for the quarter ending 3March 31, 2020 ("Q1 2020") were $19,593
The total assets on the Balance Sheet for the Alliance Creative Group as of 03/31/20 were $5,049,597.
The total outstanding common shares as of March 31, 2020 ("Q1 2020") were 716,044 with 690,456 of those shares in the float.
The Company ended the quarter and year with $9,031 Cash on hand.
Total Stockholder Equity as of 03/31/20 was $2,458,481
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.
Steve St. Louis, CEO of the Alliance Creative Group, Inc., said, "Like most companies in the world today we are still dealing with some very unique situations. However, we have been very aggressive with cutting costs and creating new efficiencies. We completed our move into a new main office and warehouse facility that provides us more space for less money. With the new warehouse we will be focusing more on fulfillment and leveraging having more things under 1 roof while improving the ROI of our internal trucks and deliveries. Fortunately we have been able to maintain a decent percent of our core business and have continued most of our operations in a safe way. I believe that with the help of the PPP and other resources we should be able to maintain a reasonable amount of business in 2020 and return to growth in 2021."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a Packaging Solutions Company focused on Retail Packaging and Packaging Management. ACG helps its clients from initial concept and packaging development through final production and managed inventory solutions. The core business has been around since 1997. ACG currently focuses mostly on providing solutions for flexible and clear packaging, folding cartons, vendor managed inventory supply chain services and fulfillment. Additional services include but are not limited to corrugated boxes, commercial printing, labels, and other products and services related to the printing or packaging of consumer products. ACG's team includes experts to provide high-quality packaging and printed products. The ACG experience includes very hands-on operational support out of 8 different warehouse locations and several national and international manufacturing partners. ACG provides customer support during the entire product process or cycle including but not limited to creating, warehousing, delivering, and replenishing their packaging products For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
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This news release contains forward-looking statements as defined by the bespeaks-caution doctrine. Forward-looking statements include statements concerning plans, 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.
