ST. PETERSBURG, Fla.,
April 16, 2012 /PRNewswire/
-- American Community Development Group, Inc. (OTC Pinksheets:
ACYD) announced the continuing progress as a reporting holding
company and its plan to qualify for the QX during 2012.
The Company has recently filed its year end financials to
Pinksheets and expects to also file the first quarter financials by
the deadline of May 15, 2012. The
soon to be updated attorney opinion letter required will bring the
corporate reporting status to current.
Management is currently interviewing auditors and is expecting
to make its final announcement very shortly.
In a major step in the progression towards holding company
structure, the Company recently received majority shareholder
approval to increase the number of authorized common shares from
115 million to 500 million to accommodate structured acquisitions
and financing to grow corporate equity, revenue and earnings more
quickly and projects revenues over $3
million in 2013 by acquiring larger entities.
Since 2008, American Community Development Group, Inc. (ACYD)
has been a socially responsible public company that specializes in
profitable real estate investments by purchasing distressed
property and then using these transitional housing centers for
501c3 nonprofit clients. The Company generates increased profitable
rental income by housing clients that are sponsored into such
programs as drug and alcohol rehabilitation, ex-offenders,
homeless, HUD, government assistance and veterans. By utilizing
properties that are acquired at huge discounts due to the
distressed housing market, the company and its investors are able
to generate almost a 100% increase over traditional tenants.
We also create and sponsor job creation programs for the
nonprofit community and are currently focused on the Florida West
Coast. We have positively affected thousands of lives including,
but not limited to, Florida. Our
expansion plans include other regional and national
affiliations.
American Community Development Group, Inc. is a for-profit
corporation founded to provide economic support and management
guidance to the non-profit community in order to assist their
support of various economically distressed citizens. We believe in
the concept of "social entrepreneurship" as stewards of our
investors' and our own resources while also creating strong
economic returns on capital.
The Company has chosen this growth field because it offers
stable growth and a socially conscious application of the talents
of its founders. We has signed agreements with non-profits that
have been providers of services and operate missions and facilities
for the homeless, ex-offenders, drug and alcohol programs and
housing facilities for other disadvantaged persons in the
Tampa Bay, Florida area.
Mission Statement
Rebuilding America, One Life at a
Time!
Safe Harbor for Forward-Looking Statements: Except for
historical information contained herein, the statements in this
press release are forward-looking statements that are made pursuant
to the safe harbor provisions of the Private Securities Reform Act
of 1995. Forward-looking statements involve known and unknown
risks and uncertainties, which may cause the company's actual
results in future periods to differ materially from forecasted
results. These risks and uncertainties include, among other things,
product price volatility, product demand, market competition, risk
inherent in the company's domestic and international operations,
imprecision in estimating product reserves and the company's
ability to replace and expand its holdings.
http://americancommunitydevelopmentgroup.com
SOURCE American Community Development Group, Inc.
