Shareholder-Friendly Moves Returns 4 Million Shares of Preferred Stock to Company, Plus Equity Partnership with Coastal Spritz Brand and New Business Plans Focused on Real Estate and Acquisitions:Alliance Creative Group, Inc. (Stock Symbol: ACGX)
For more information on ACGX visit: www.AllianceCreativeGroup.com or www.ACGX.us
Alliance Creative Group, Inc. (OTC: ACGX) is a Parent Holding Company on the OTC market. The strategy ACGX intends to deploy is a shared resource model where internal divisions, portfolio companies and strategic investments are vertically integrated, optimizing efficiencies and cost savings. ACGX will apply some of its resources towards diversified classifications of real estate with a strong focus on distressed assets and healthcare. ACGX will leverage its internal construction company to provide services while looking for some distressed value-add projects and opportunities. The remaining resources may be applied to a mix of early-stage equity investments in companies that synergize with the company’s shared resource model and secured investment opportunities. The ACGX strategic mission is to utilize a unique blend of capital, relationships, experience, and secured investment structures to increase value for its clients, partners, investors, and shareholders while reducing the overall risk. The ACGX big picture long term plan is to create an ecosystem of shared resources that can provide quality resources with reduced expenses while acting as a partner for internal projects. The intent is to have multiple businesses and investment projects or divisions to help diversify the risk and generate potential revenue in multiple ways while leveraging both the private and public markets.
ACGX is an investor in PeopleVine a consolidated membership engagement platform that allows businesses to build more personal relationships with their customers at scale. The PeopleVine platform has a primary focus in the member experience, subscription management, and CRM platform in the hospitality industry. For more information visit: http://www.PeopleVine.com.
Return of 3,999,999 Shares of ACGX Preferred Stock to Company Treasury
On September 12th ACGX posted a company filing to report that the Board of Directors had approved and accepted the return of Three Million Nine Hundred Ninety-Nine Thousand Nine Hundred Ninety-Nine (3,999,999) shares of the Company’s Series G Preferred Stock (par value $0.0001) from CEO Paul D. Sorkin.All said shares to be returned to the ACGX Company Treasury. This will leave Paul D. Sorkin with 1 share of the Series G Preferred Stock. ACGX also amended its Certificates of Designation to help reduce future dilution. These actions are very shareholder-friendly moves made by ACGX management.
ACGX Reports Second Quarter of 2023 Financials
On August 14th ACGXannounced the results of Operations for the Three Months and Quarter Ending June 30, 2023.
Revenues for the quarter ending June 30, 2023 (“Q2 2023”) were $322,827
Gross Profits for the quarter ending June 30, 2023 (“Q2 2023”) were $322,827
Net Income for the quarter ending June 30, 2023 (“Q2 2023”) were ($54,484)
The total assets on the Balance Sheet for the Alliance Creative Group as of 6/30/23 were $4,943,921
The total outstanding common shares as of June 30, 2023 (“Q2 2023”) were 3,454,211 with 2,198,971 of those shares in the float.
The Company ended the quarter with $150,328 Cash on hand.
Total Stockholder Equity as of 6/30/23 was $739,236
Paul Sorkin, CEO of ACGX said, “The 2nd quarter of 2023 included continued progress and some significant changes. We entered into a secured loan and equity agreement with Say Less Spritz, LLC, who acquired the rights to the Coastal Spritz brand. The agreement gives ACGX a 5% equity position while earning interest on the secured loan. ACGX has also entered into a consulting agreement with Say Less Spritz that will pay ACGX monthly.
We are very excited about the Coastal Spritz brand and the opportunities with Say Less Spritz and believe the company has opened a number of very strategic distribution and retail relationships that will help provide a solid foundation for the company to grow from. We have received some interest in the Wayne property and are in negotiations to potentially sell it before the end of the year for a good profit.
Our goal would be to use that extra capital to reinvest in other revenue producing assets that will allow us to continue to execute on our long-term business plans. The lower revenue for this quarter was caused by a few delays with some of our peak construction projects but we hope to know more about the realistic timelines and scope for those and other projects soon. PeopleVine has been performing incredibly well in 2023 and the pipeline continues to increase.
The company has become a very solid and consistent profitable and positive cash flow SAAS company. PeopleVine has also been engaging in multiple conversations with potential future investors about possibly adding new growth capital and valuable introductions and resources to accelerate the business faster. Overall, we knew our new business plans and focus would take time to evolve and we are very pleased with the initial progress.
We are continuing multiple conversations with potential acquisition targets, projects, strategic partners, investors, and other opportunities to determine the best fits. Our foundation and structure remains attractive for multiple potential opportunities and our long term goals are still based on building our shared resources foundation to position ourselves to own multiple vertically integrated portfolio companies that, if we are successful, can each reduce their expenses by leveraging our resources and relationships to increase the overall assets and revenues over time to hopefully create a larger return for everyone involved. We will continue to update the public as things are finalized and will share more details as they become available.”