ST. PETERSBURG, Fla., May 16, 2012
ST. PETERSBURG, Fla., May 16, 2012 /PRNewswire/ -- American Community Development Group, Inc. (the "Company") (OTC Pinksheets: ACYD.PK) is pleased to announce that it has received a funding commitment of up to $1 million from a private equity fund that can be drawn for working capital and acquisitions over the next year.
The Company has recently drawn $50,000 in the first installment to secure legal, accounting and short term working capital requirements.The priority for the use of proceeds is to expand revenue and cash flow. These funds are earmarked for the completion of commercial real estate acquisitions that will add increased capacity for its transitional housing programs and the continued evolution of several business development projects. There are also corporate acquisitions, previously announced, that are being finalized.
This financing is an integral part of the accelerated efforts of the company to complete its audits, complete all legal and other requirements in order to qualify for a QX listing.The Company is also in separate negotiations for additional capitalization that is acquisition and merger specific for those larger projects contemplated.
As the Company moves forward to current status on Pinksheets, there will be announcements regarding additional relationships that have been under development and negotiation.
Management is also taking steps to better understand the trading of its stock in the market. The Company will initiate a regular review of the DTC, shareholder and NOBO lists and arrange to have those analyzed by competent advisors and or securities attorneys to understand the narrow trading stock range despite purchase or sale demand and volume. 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 is a tool that might be used by professional shorters.
Market Data 
Markets 
AI
