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From John Folger
President
American Community Development Group, Inc.
Admiral,
I just returned from a business meeting at 10:30, and what new information do I discover?
That you have actual transfer agent records? They only exist at the TA. As far as I know, only issuers and their transfer agents have this info and it is kept very confidential. The certificates that you posted are part of our financial reporting and would be available for all on Pinksheets, but that is not true of the actual cert numbers!
How was this CONFIDENTIAL INFORMATION obtained if the TA has been gagged? Aren't the actual certificate number only on the NOBO list? How did you manage to get a copy? Are you employed by, or are you actually one of our brokers with whom this confidential information has been shared or are you an officer or director of one of our former funding entities?
As of 9AM on Wednesday morning, August the 1st, I will copy and paste your exact emails and claims to ClearTrust LLC. I think they, their counsel and other regulatory agencies will have a very active interest in the exact source of your Prohibited information.
Have a restful evening because tomorrow doesn't look quite so good!
John Folger
President
American Community Development Group, Inc
Admiral,
I agree with you, I for one would greatly appreciate all of the help I can get, especially from people qualified to assist me.
But, since Ron Brewer and SouthBridge are already advisers, we already have their assistance. I will have to ask Ron tonight when you and he are planning on taking control of ACYD. Since you are in contact with or private messaging everyone on the planet, I assume you both are a good bit along in managing your corporate takeover. Gordon Gekko will be very proud. Oh wait, he was a fictional character, wasn't he!! I think you two have much in common!
I do wish we could have had Shaun and Gary on the team, there would have been good value for all of us, which is why we worked on that transaction and are sorry when it became untenable because of circumstances.
BTW, the certificate numbers you have listed are old, and I believe they were converted in April, so as usual, all of your posting are either old news or complete fabrication. The latter includes the millions of shares that are somehow part of a US Highlands and ACYD conspiracy. The fact is that Ron Brewer and his consulting team have many clients. Us Highlands is also a client of theirs and has nothing to due with any stock ownership or participation by ACYD. Anything you claim is total nonsense.
I noticed that you took credit for the removal of a CEO in post 17493. You stated that "At this time a form DFAN14A will be filed". Should the shareholders on this board assume that one on the names on the bottom of that form are you? Or, more likely, did you remain an anonymous paid basher as you stated?
I am also going to alert the board that I will no longer be responding to the phone calls and emails resulting from the nonsense that you post. There are shareholders who have legitimate questions that we will continue to answer or address, but this fiction is all a waste of everyone's time unless and until the Admiral releases his real name and I can have all of his private messages and emails forwarded to me for proper scrutiny.
I will state again that the Company has not diluted any new shares but that it can not stop the conversion of debt holders and 144 holders, which is exactly what has been occurring. I have stated this continually and for some reason, you seem to think that your continued repetition of false information will change the facts
As of today, here is the current share structure, along with the previous months as I promised.
Share structure changes are as follows for May, June and July;
As of May 31st, 2012 was:
Issued & Outstanding Shares: 171,976,213
Restricted Shares: 57,648,997
Un-Restricted Shares: 114,327,216
"FLOAT" - Shares in Street: 87,513,821
As of June 15th 2012
171,976,213 Issued and Outstanding
56,934,830 Restricted
115,041,383 Un-Restricted
102,642,025 in Street Name
As of Monday June 25, 2012
178,860,227 Issued and Outstanding
57,944,931 Restricted
120,915,296 Un-Restricted
107,642,025 in Street Name
As of Today, July 31, 2012
500,000,000 Authorized
211,579,244 Issued and Outstanding
63,500,486 Restricted Shares
148,078,758 Un-restricted
123,893,567 Street Name
We also intend to release the TA gag order as we discussed, I will let the shareholders know when that occurs.
John Folger
President
American Community Development Group, Inc.
There is the link to the actual claim that shows it is my personal liability and never had anything to do with the Company. You are correct Admiral, this was brought up months ago. It was also answered months ago during the newspaper turmoil.
There was a refiled a Default Judgment which only shows me personally listed as Defendant on April 11, 2011, not including any other original 2008 Defendants. This document supersedes the original 2008 Default Judgment as far as who is currently liable for the debt.
It is not recorded as a corporate liability of ACDG Inc, nor has it ever been considered a liability of ACDG Inc. Also, it was not recorded on the private company's financial books or included in the corporate records.
As far as I can tell, there are very few companies in the Pinksheets that can even come close to the amount of transparency that this Company attempts to provide.
You mention that you have more questions that need to be answered on order to consider our transparency, so why not list all of them so we can save this boring drip of useless air?
By the way, since you are one of the few people who don't know how to spell my last name, it really isn't too hard to know who you are from previous correspondence. I won't belabor this point.
Since it appears that your interest seems to continually put up random pieces of older information and try to create the illusion that they are new, perhaps you would like to repost all of the information from the February situation and all of the responses, both posted here and the press releases that were published to make sure that we were entirely transparent.
Just recently, a couple of weeks ago, I was called and threatened by a huge disclosure from several shareholders. I find it interesting that none of their information was accurate, just like yours. I wonder where people get all of this accumulated "knowledge", only to find out that it is nothing but air.
Those shareholders were very surprised when instead of capitulating to their request, I hosted a conference call for all of the shareholders to specifically address each and every accusation that they made.
Your continual posting is just more of the same, and possibly the source of continual fiction, rumors, innuendo and fabrication. You might not realize it, but when we increased the authorized number of shares, I had to contact the majority of the shareholders personally. So when I recently spoke directly with the shareholder you posted, I know absolutely that you did not have a phone, email or text conversation with that shareholder, it was a lie. I also know they don't appreciate your posting of their personal info without their permission, so I would be more careful, if I were you.
Since you require transparency from us, how about admitting the actual status of your "takeover" attempt? Please remember that I already disclosed that the money that is owed to me and others by the Company would be conversed to restricted common, and that conversion would easily eliminate any of the possibilities that you so easily throw around. As I said, I am a buyer, not a seller. Your false information about my loading the Matson trust and being an "inside seller" is also just more hot air. Do you need assistance to find the door?
From John Folger
President
American Community Development Group, Inc.
The only direct questions I have not yet answered are two:
The first was the status of the acquisition agreement regarding Southern Investments that was previously announced.
The second was the status of a $40K judgment in which the Company is named, along with me personally.
I am normally pleased to answer questions from shareholders on a timely basis, but I don't always have time to answer on the same day they are asked. As it has been pointed out here, I really don't spend all day in front of a computer, so there are times when it could take a day or two, which I believe is common courtesy. I also indicated, and thanks to those of you who commented, that I have been recovering from Pneumonia.
I believe both questions were fully answered in the fallout from the Tampa Bay News article in February, but just to confirm, the acquisition was disrupted because of the staff terminations and failure to collect client fees and our corporate shift away from residential properties. I will again confirm that we removed most of the residential portfolio from February to April and had all of those the clients placed in other programs.
The status of the $40K judgement is that it is my own personal debt from real estate transaction in 2005-2007. It never had anything to do with the Company and is only filed because my attorney at the time mishandled it.
I believe others on this board will be happy to point out the previous due diligence on these matters.
Other recent posts on this board are just pure fantasy. There is a shareholder (I assume) that actually posted the real name of a very large shareholder and said that he was in contact with them regarding a shareholder takeover. I found that interesting because when I spoke with that specific shareholder, he knew nothing about any contact.
Thanks to many of you for your support and good wishes, for the others, we'll be sorry to see you go, but don't let the door....
From John Folger
President
American Community Development Group, Inc
I would like to acknowledge and thank Sidestyle for a thoughtful and informative assessment of the current situation on Saturday. He is the closest to correct in his theory because he has actually done the due diligence with all of the information that we have provided.
Just to confirm several items that have already been discussed, the shares contained in the Matson Trust are the same amount as on the day created. There have been no additions or subtractions.
And no, we haven't paid any rent with shares.
There will be more news coming, but it is true that I am the only person authorized to release it and it will be public. Our timetable is the same as I discussed in the CC last week.
I have received several emails and I responded, given that I have been bedridden for the last week.
More info to come soon, but I do want to thank all for your support and best wishes.
From John Folger
Here is the info on the shareholder conference call for today at 4:30 PM EST.
It might be helpful if you presubmit your questions so I can answer them, but this is not required. I do ask that we keep it civil and to specific questions. I do not intend this to be a "spin" session by me. This way you can judge for yourself about our intentions.
Dial-in Number: (605) 475-4800
Access Code: 791209#
From John Folger
A agree that they were botched, and I also accepted direct responsibility. I was responsible for that management team that was charged with managing the 11 smaller properties. They had a capacity for sheltering 65 clients. Over several months, we pressed the team about the fact that they were only collecting between 25 and 50% of the fees that were due from the 45 clients that were housed. During that time we were in negotiation to pay off the landlords, we discussed with that team that there would be have to be terminations for failing to operate properly. One of those persons went to the press and created the fire storm of the newspaper article. That same person, we are told, has now been terminated by the landlords because rental payments that were collected by them were not tuned over, but I guess the follow up newspaper story that showed him as the poster child will not be forthcoming.
We are now rebuilding our property portfolio with a different and more experienced management team, as has already been disclosed. Unfortunately, the current stock price does not help our financing.
From John Folger
As was previously stated, the company in which I had invested did owe some products to its clients. When we found out, we turned the information over to the Attorney General because we were mislead about the company's existing liabilities when we invested.
The Company did pay off those clients, over $100,000, so that was the RESTITUTION to which you refer. There were no criminal charges against anyone.
As was also the case with Household Direct.com, it was an internet company during the dot com bubble and was wiped out, along with about 3000 other companies. Again, there was never any criminal or regulatory issue and no action whatsoever by the SEC.
From John Folger
President
American Community Development Group, Inc
To our shareholders and others posting on IHub
The Company will be posting specific answers to various comments during the day today. Since there have now been complaints made to the SEC against a company that is current in all of its legally required filings and that also provides additional information access through its websites and other social media outlets, we have no choice to review whether or not it is to our advantage to continue discussions on this board at all.
Because someone with a specific agenda posted the link to the SEC and other information, here are some other important links, but of course all of you have had them all of the time:
John Folger cell phone 727-512-9989
John Folger email jfolger@acdginc.com
I will also post a number for a conference call at 4:30 EST today.
I speak with actual shareholders on a regular basis, because they call or email me. Unfortunately, they are not posters here, but they do read the boards. Incidentally, so will any new or potential shareholder doing due diligence on the company or the stock. So much for encouraging any interest that might increase the value of stock that you hold.
By the way, in press releases, you can figure out the probable issued and outstanding because we did disclose the take down of $50,000. I will post the actual SS later in the day.
It is with deep regret and concern that we now find the IHub board moderated by some people who now seem to have a destructive agenda. The other moderators don't seem to have the interest, time or inclination to counter, or to repost, the answers to the various comments made.
To those that continue to threaten to come and visit, please do. Oh, I forgot, then we would know who you actually are.
From John Folger, to clarify the errors in fact or perception posted today!
The company has not been in the habit of paying creditors with shares and HAS not paid anyone or anything in shares for about 45-60 days. The company has also not done any type of conversion recently. As already stated, the increase in the float was caused by shareholders that either had old debt or restricted shares that THEY converted. Interesting to note that neither they, or the company, are the sellers.
If anyone posts otherwise, know that they just want YOUR shares cheaply.If you want to give them away, that's your decision.
All of my personal bills are paid by cash, not shares, but I will be the one converting back pay into more restricted shares instead of cash, so I am a net buyer.
As to the number of units, it's true that we reduced the number of properties, but I also stated that we eliminated all of the clients that would not, or could not pay. I also stated very clearly that the new team has all of the ability to add PAYING CLIENTS, which they have already done,and projects 500 clients for the next year.
I also stated that lease and mortgage settlements should be limited to about $50 of the next $100k of capital raised. When we do a financing, we will post and press release so you will know who it was and why.
And no, we are not wandering in the wilderness looking for possible acquisitions. We actually disclosed several and are still in due diligence and financing mode, which was also disclosed.There will be more disclosures.
If you want to sell, than please get out now so we all don't have to listen to the same rehashed false information. Once again, THE COMPANY HAS NOT DUMPED ANYTHING AND IS NOT A CURRENT SELLER!!!!
Sorry, I didn't sign the post! Full disclosure requires me to inform all that Bear991 is John Folger, President, American Community Development Group, Inc.
DannyMac
I hope this to be my last post, but not because I don't have a few minutes a day to check the boards. I do have to spend time on the computer just about every day for business, just like many of you. As David has indicated, the Company has an interest in providing transparent information, which is why he was given the assignment to keep a close eye on the boards, as well as developing and expanding the website and social media initiatives.
My reply to your reposting of the news article is largely because it was such a "hatchet job" and because we were totally blindsided by it. I have to admit that I took the article very personally just because the reporter took such glee in including very old events out of a 40 year career to deliberately put the project and me in the worst possible light, just as some posters are doing now.
Having said that, you have made several accusations that are totally accurate and deserve a thoughtful response.
You are absolutely correct when you indicate that the CEO is responsible for all of the events, positive and negative, and I do accept the blame for the failures and missteps regarding the initial execution of this project.
The business plan and vision were and are brilliant. I can say that because we get calls from around the country from very experienced people in the nonprofit world who tell us that they want to participate in our expansion. There will be more news about those specifics, but we have been invited to Dallas and California and other areas. Some of our largest shareholders fit this description and I speak with them frequently, which is the reason that my cell phone number is posted and answered.
Now to your specific questions...the number of properties has gone from 11 down to 3. The reason is that we were renegotiating the prices and terms after growing too quickly. Financing that was promised never materialized or was delayed. There were lease and mortgage arrearages because of the cash flow shortfall I described earlier. We had 2 experienced and well intentioned people that continued to add clients that were not suitable and who could not, or would not pay their fees. This took us from a capacity of $30K per month to actual collections of about $14K, so the company could not cover expenses. The individuals lied to us about implementing the changes required, and just as we were concluding additional financing to complete the reorganization, these incompetent people became involved with the reporter and an attorney that went to all of the properties and actually disrupted our contractual relationships with landlords, mortgage holders and clients to the degree that no payments were being made. That was when the article hit, which as you can imagine, totally disrupted everything that we had in place, including the financing that would have solved the entire problem. So now we are rebuilding the entire portfolio, but this time with a solid foundation and personnel that have proven to be the correct choice. We now have the right people in place to grow and we do believe that we can add 500 clients over the next year.
Now we have to rework the foundation of the Company and become reporting to get off the Pinksheets. This will require revised financing and other steps to reduce some of the original growth problems. The primary problem that we faced in acquiring properties was that as we needed funds, we were always getting investments that were too small and too slow. The $175K that I mentioned came in over a long period of time, and also as the stock price was constantly being hammered lower. This meant that we were continually diluted and I did make a couple of wrong choices regarding investor relations strategies. I will say that one group with whom we worked purchased all of their shares, they were not delivered just for services. At the end, quick runs don't help anyone, the Company or the shareholders. All of the recent activity is organic, as we have have not paid anyone for months. I believe that this increased share volume is locking the share float into longer hands.
In other matters, some of us do not draw salaries and some are way below the norm. We're invested in this because we believe in the mission. The combination of housing, counseling and employment is a winner, both for clients and shareholders.
I do live in suite in an extended stay hotel. It has a home office setup which makes me very efficient. I did negotiate a discount, so I pay less than $1000 per month and have no other utility payments or responsibilities. I did not move into any of our properties because at this time all of our efforts are toward client accommodations and cash flow.
Now we get to professional courtesy. Some personal information should remain private, as is the case with David and his divorce. We all have items in the past that don't belong on the boards. All posters should be responsible for their actions, and you and I are no different. A posted listing some time ago relating to properties in St. Petersburg that were boarded up and we were asked on the board why the property listed as our address was on it. I did review the list and never found any property of ours included on it. I also see the continued rehash of old information which has already been explained, disclosed and covered.
I might suggest that if you have a legitimate question, than just ask it. We won't run from the truth or get vindictive or petty. Some information you have the right to request. I believe it is our responsibility to answer shareholder questions in order to be credible to the public. We really encourage investors asking questions or pointing to potential mistakes, because we are human and should welcome the oversight.
The accusations and innuendo however are another matter. I see from your history that there are occasions in which you have been very supportive, but the tone of your questions and accusations could use improvement. If posters want us to engage in a real dialogue and provide access, that you all have to honor our rules of engagement. Otherwise we'll just be like other management teams on the boards. We would prefer a professional approach.
I will not let this stand without a corporate and personal response.
This was the original shareholder update that we sent out along with my explanation. Those who have known me for more than 30 years are aware of the actual events of my history and how I have treated any difficulties.
insert-text-here
We made the front page for all of the wrong reasons. I try to remember that “no good deed shall go unpunished!”
The reporter for this article represented to us that it was to be about a nonprofit group from Atlanta that allegedly stole all of their clients money and failed to pay their rent, causing all of its clients in Clearwater to be evicted and put on the street. The original event was covered on Bay News 9 in Florida.
“The ARC”, the nonprofit that we have sponsored, reacted proactively and immediately took in several of their clients and because their funds were lost, it agreed to give them a 2 week credit until they could get situated. They were provided complete housing, program support and other services to assist them to get back on their feet.
To clarify the rest of the article would take too much time, but in fact, while in Florida I probably purchased about 12 or 13 houses, many of which were sold at a profit. Like many others, I got stuck in 3 or 4 when the market crashed. Yes, it is true that some investor money, as well as lots of my own, is delayed in recovery by conditions of our current housing market.
The article also chose to focus on a few events from my past, going back almost 20 years. It failed to mention that I started my first company at 22, and combined it with a multimillion dollar enterprise or that my wife and I owned several successful construction related businesses and purchased a “distressed” 30 acre horse farm property in Connecticut and broke the local property sales record when it sold for about $1.5 million. Yes, there were other successful projects along the way.
The shopping club in Connecticut event described in the article was a 15 year old company that was financially troubled when I agreed to invest in it. When I discovered the size of the losses within the records, I was the one who brought all of the books and records to the States Attorney. We negotiated a global settlement for all of the clients and employees and paid off the outstanding claims. I believe the amount was in the range of $150,000.00. The was no civil, criminal or probation, with the stipulation that I not run a shopping company. I assured the judge that this fiasco was enough.
Household Direct was an internet start up that lost its continued funding in the “dotcom bubble” of the late 1990s and had no negative legal issues whatsoever.
American Community Development Group, Inc. (ACYD) is a public company that is not connected to American Restoration Centers. It has invested capital to fund the initial operations while “The ARC” finishes its compliance requirements as a 501c3 nonprofit enterprise.
Please remember that “The ARC”, the subject of the article, is a new entity, formed only last May to develop the transitional housing model. The management and operations team had been given adequate time to collect the fees from clients so that the company could pay its bills and continue to serve the needs of the clients.
In September through November of 2011, we were asked to continue to fund that operation, even though about $175K had been invested up to that point. The former management and “operations” team promised that they would reach breakeven in December, but only achieved less than 40% of collections from clients that were living in the properties.
One of those responsible parties is pictured in the article. We have been reviewing our legal options to collect on the damages and lost cash flow that they caused. We proactively brought in a new team of consulting advisers to assist in the reorganization process and alerted all of the creditors of the reorganization.
We recently agreed to provide more funding, but not until there were effective controls on the number of clients and their proper care and support. And of course, we will also require an improvement in the collection processes.
As of today, the persons that failed at the operations, support and management seem to be our loudest critics, but “Group Hugs” are easily managed when you live rent free, have all of your expenses paid and take no responsibility to understand the basic concepts of cash flow and accountability.
We have revised the operations and have gone from a capacity of 60 clients down to about 20 to 25 in order to solidify the foundation on which to build. Our new team, (see recent press releases)has rebuilt the client service side and have been serving the needs of rehab clients every day through this transition.
We firmly believe that the newly revised business plan of American Community Development Group, Inc. will prove to be a significant success.
Sincerely, John Folger, President
American Community Development Group, Inc.