ACYD : potential news
TAMPA, Fla., July 2, 2011 /PRNewswire/ -- American Community Development Group, Inc. (OTC Pinksheets: ACYD) today announced that it will update its quarterly financials.
The management of the company has focused their efforts on building the housing portfolio and expanding nonprofit relationships to broaden client capacity. This effort will be essential as the company continues to expand beyond the current 14 properties.
The company will also provide current capital structure information to Pinksheets and authorize the transfer agent to confirm our status with any legitimate shareholder inquiry. The company believes that these actions will provide complete transparency regarding its status. The company will continue in its plan to become fully reporting and has no plans for any type of share restructure or reverse splits.
American Community Development Group, "The Company", was founded as a real estate investment company in the Tampa Bay, Florida market. We intend to acquire properties at tremendously discounted prices during the current market down trend. The Company has also received offers to expand its pilot operations in other markets where distressed real estate prices are prevalent. We then increase shareholder value and revenue by using the properties to house the clients of existing nonprofits groups or other agencies.
A typical 3 bedroom property generates over $30,000 annually in gross revenues because of the extremely high demand for transitional housing. This compares to an average rental income of about $12,000 for a similar property with a traditional tenant.
According to John Folger, President of American Community Development Group, "We are currently acquiring interests in single and multi-family homes, affordable housing, and other high occupancy commercial real estate properties, all while helping members of our community," he continued. "This approach sits well with both the community and our shareholders because we work directly with the nonprofit community to house their clients. This model keeps our properties fully occupied."
For more information please visit our website at www.AmericanCommunityDevelopmentGroup.com.
About American Community Development Group
American Community Development Group (OTC Pinksheets: ACYD) is a hybrid social business model founded by a group of experienced professional managers and principals that acquire or fund businesses, consult with the nonprofit community, and purchase real estate and affordable housing properties for the purpose of housing and employing individuals and families in crisis or challenge. The properties include single and multi family homes, apartments, hotels, and mobile home parks.
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