.0018 ACYD AH News-Nice 87m Float!
Thursday, June 07 2012 6:14 PM, EST
American Community Development Group, Inc. Updates Share Structure and Offers Conference Call
PR Newswire "Press Releases US - English"
ST. PETERSBURG, Fla. , June 7, 2012 /PRNewswire/ -- American Community Development Group, Inc. (the "Company") (OTC Pinksheets: ACYD.PK) is providing the updated share structure to our investors.
The Company recently changed its policy of providing open access to the transfer agent on a daily basis because it had been advised that this information was not being released to the general public. Management is considering the release of the share information on a monthly basis.
The majority of the shares recently issued pertain to previous financing, all of which have been postponed or discontinued by the Company. These are the numbers for the end of the month as submitted directly by our transfer agent.
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
The Company recently increased its authorized number of shares from 115 million to 500 million, but at 171 million is still considered to be on the lower conservative range when considered against many other entities, some of which are measured in billions.
The Company also held a limited investor conference call this afternoon and is considering a public shareholder conference call next week, which would be announced separately.
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.
