Alliance Creative Group (ACGX) Reports Revenue of $3,399,008 for Fourth Quarter of 2022

Alliance Creative Group (ACGX) reported Q4 2022 revenues of $3,399,008, with a gross profit of $817,182 and a net income of $17,535.

Rhea-AI Summary

Alliance Creative Group (ACGX) reported Q4 2022 revenues of $3,399,008, with a gross profit of $817,182 and a net income of $17,535. For the full year, the company's total revenue reached $12,242,126, yielding an annual gross profit of $2,808,264 and net income of $93,170. As of December 31, 2022, total assets were $3,823,236, and total stockholder equity stood at $837,249. The company is transitioning its business model, focusing on building a vertically integrated portfolio while upgrading real estate assets. CEO Paul Sorkin emphasized ongoing negotiations and the importance of evaluating opportunities carefully.

Positive

• Q4 2022 revenue increased to $3,399,008.
• Annual revenue for 2022 was $12,242,126.
• Transitioning to a vertically integrated business model.
• Upcoming upgrades on the Wayne property are 75% complete.

Negative

• None.

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• Alliance Creative Group (ACGX) Reports Revenue of $3,399,008 for Fourth Quarter of 2022
• Total Annual Revenue for 2022 was $12,242,126 prior to the transition

CHICAGO, March 30, 2023 /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 and Year Ending December 31, 2022.

Revenues for the quarter ending December 31, 2022 ("Q4 2022") were $3,399,008

Gross Profits for the quarter ending December 31, 2022 ("Q4 2022") were $817,182

Net Income for the quarter ending December 31, 2022 ("Q4 2022") were $17,535

The total assets on the Balance Sheet for the Alliance Creative Group as of 12/31/22 were $3,823,236

The total outstanding common shares as of December 31, 2022 ("Q4 2022") were 2,854,211 with 1,898,971 of those shares in the float. 

The Company ended the quarter with $13,460 Cash on hand.

Total Stockholder Equity as of 12/31/22 was $837,249

Revenues for the Year ending December 31, 2022 ("2022") were $12,242,126

Gross Profits for the Year ending December 31, 2022 ("2022") were $2,808,264

Net Incomes for the Year ending December 31, 2022 ("2022") were $93,170

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, "Although these financial numbers are for 2022, our team has been focused on building the new foundation and planning for 2023 and beyond.  The overall transition away from printing and packaging is going well, but there are a lot of moving parts.  We are involved in multiple ongoing conversations and negotiations that we need to complete to determine exactly who and what will be involved in the first and second phases of our parent company.  The Wayne property is about 75% upgraded and we hope to finish the remaining 25% and increase the rents soon. Peak Construction Group is predominantly working on projects in IL and FL now, but we are in discussions for potential projects in TN and other states that we should know more about soon.  PeopleVine has been growing consistently and is positioned very well for the next phase of growth.  We understand many of the challenges that most companies and industries are dealing with today, therefore we are being very patient and selective to properly evaluate all of the potential opportunities before we confirm which are the best ones to add long term value and create a solid foundation to build from.  Our main goal is to continue 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." 

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 portfolio companies and real estate investments are vertically integrated, optimizing efficiencies and cost savings ACG will apply some of its capital raised towards diversified classifications of real estate with a strong focus on distressed assets and healthcare. The company's distressed value-add projects may consist of healthcare facilities, warehouses, student housing, multifamily, conversions, flips and other opportunities.  The remaining capital may be applied to a mix of early stage equity investments in companies that synergize with the company's shared resource model and secured lending opportunities.  ACG's strategic mission is to utilize a unique blend of capital, relationships, experience, and secured lending 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 secured lender 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

 

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SOURCE Alliance Creative Group, Inc.

FAQ

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What were Alliance Creative Group's Q4 2022 revenue figures for ACGX?

Alliance Creative Group reported Q4 2022 revenues of $3,399,008.

What is the total annual revenue for Alliance Creative Group in 2022?

The total annual revenue for Alliance Creative Group in 2022 was $12,242,126.

What was the net income reported by ACGX for Q4 2022?

The net income for Alliance Creative Group in Q4 2022 was $17,535.

How did ACGX perform in terms of gross profit for 2022?

Alliance Creative Group reported a gross profit of $2,808,264 for the year 2022.

What is the status of ACGX's Wayne property upgrades?

The Wayne property upgrades are about 75% completed.