Alliance Creative Group, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 15, 2020 at 09:12 am EDT
Share
Alliance Creative Group, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced sales was USD 2.103 million compared to USD 2.772 million a year ago. Operating loss was USD 28,753 compared to operating income of USD 9,116 a year ago. Net income was USD 15,576 compared to USD 9,425 a year ago. For the half year, sales was USD 4.453 million compared to USD 5.315 million a year ago. Operating income was USD 451 compared to USD 46,701 a year ago. Net income was USD 44,780 compared to USD 47,010 a year ago.
Alliance Creative Group, Inc. (ACG) operates as a parent holding company. The strategy that the Company intends to deploy is a shared resource model where internal divisions, portfolio companies and strategic investments are vertically integrated. It is focused on three types of investments or projects: real estate acquisition; secured lending for small businesses, and early-stage equity business investments (and acqui-hires). ACG shall apply some of its resources towards diversified classifications of real estate with a focus on distressed assets and healthcare. The Company's distressed value add projects may consist of warehouses, student housing, multifamily, conversions, and flips. ACG may also invest in a mix of early-stage equity investments in companies that synergize with the Company's shared resource model and lending opportunities.
ALLIANCE CREATIVE GROUP, INC. 
