Alliance Creative Group (ACGX) Releases Q3 2024 Financial and Disclosure Report with an increase of over 100% in Net Income for 1st 9 months of 2024 vs 2023
Rhea-AI Summary
Alliance Creative Group (ACGX) has released its Q3 2024 financial report, showing revenues of $102,990 and net income of ($44,912) for the quarter ending September 30, 2024. The company reports total assets of $4,543,643 and cash on hand of $88,220. No new free trading shares have been issued for over 8 months, with total outstanding shares remaining at 4,454,211. The company plans to sell its Chicago property at reduced pricing and aims to convert 20-30% of its PeopleVine investment into cash in 2025 for future investments while maintaining majority ownership.
Positive
- No dilution with free trading shares maintained stable for 8 months
- Plans to monetize 20-30% of PeopleVine investment in 2025 for future growth
- Net Income increased over 100% in first 9 months of 2024 vs 2023
Negative
- Q3 2024 Net Loss of $44,912
- Property at 1324 W. Devon Ave requires price reduction to facilitate sale
- No suitable investment opportunities identified yet despite ongoing search
News Market Reaction
On the day this news was published, ACGX gained 39.81%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
No New Free Trading Shares have been issued for over 8 months
Revenues for the Quarter ending September 30, 2024 ("Q3 2024") were
The total assets on the Balance Sheet for the Alliance Creative Group as of 9/30/24 were
The total outstanding common shares as of September 30, 2024 were 4,454,211 with 2,799,023 of those shares in the float - Same as the end of the last quarter, and since March.
The Company ended the quarter with
The property located at 1324 W. Devon Ave,
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.
Paul Sorkin, CEO of the Alliance Creative Group, Inc. said, "We continue to look for future opportunities, however, nothing has been a good fit yet. Our goal is to reduce the price significantly with the 1324 W. Devon Ave property so we can sell it before the end of the year and increase our search for the next opportunity. Our shares of www.PeopleVine.com continue to be by far our strongest investment and the conversations with the growth capital investment groups have been avery positive experience with lots of interest. Our goal is to convert between
We haven't issued any new free trading shares in over 8 months now and we are still in search of other strategic investments, acquisitions, or partnerships in Real Estate or in a small business with good potential to grow. We will continue to update the public as things progress and will share more details as they become available."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a Parent Holding Company on the OTC market. The strategy ACG intends to deploy is a shared resource model where internal divisions, portfolio companies, Real Estate projects, and strategic investments are vertically integrated, optimizing efficiencies and cost savings. 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. ACG's 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 company's 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. For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
About PeopleVine
PeopleVine is a Software as a Service (SAAS) company that specializes in serving the Lifestyle Hospitality industry. The Member Experience & CRM Software allows luxury hotels, resorts, and private member clubs to elevate a more personalized online membership experience. PeopleVine helps their clients build member communities, drive engagement, and connect the dots that elevate experiences and revenues. The software empowers its clients teams to deliver efficiently managed operations through an integrated platform. PeopleVine is committed to being the most essential and adaptive SaaS engagement platform for companies that take a customer centric approach to business.
For more information www.PeopleVine.com
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.
Investor Relations and Media Contact
1-312-498-9769, info@ACGemail.com
View original content:SOURCE Alliance Creative Group, Inc.
FAQ
What were ACGX's Q3 2024 financial results?
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