ST. PETERSBURG, Fla.,
May 23, 2012 /PRNewswire/
-- American Community Development Group, Inc. (the "Company")
(OTC Pinksheets: ACYD.PK) is pleased to announce that it has
provided the required attorney opinion letter which should cause
the Company to be current in its required filing. We were told that
because of a documentation backlog, a status change announcement
could take several days.
The Company can now move into the next phase of financial and
structural changes required to move forward to implement the larger
portion of its business plan. Management has also reconsidered and
postponed any immediate financing plans as it reviews the market
for its common stock.
Management is continuing to take steps to better understand the
trading of its stock in the market. As previously disclosed
the Company will initiate a regular review of the DTC, shareholder
and NOBO lists and arrange to have those reviewed by competent
advisors. The Company recently instructed its transfer agent,
Cleartrust LLC, to discontinue providing share structure info to
callers representing themselves as shareholders as we have been
advised that this open access to share structure could be
misused.
The Company plans to make more announcements regarding these
issues in the future.
Since 2008, American Community Development Group, Inc. (ACYD)
has been a socially responsible public company that specializes in
profitable real estate investments by acquiring distressed property
and then using these properties as 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.
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.
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.
SOURCE American Community Development Group, Inc.
