Acdud is so full of crap it's funny.
Last April they announced the purchase of land in the amount of $1.35 million 100% financed by the seller over ten years at 6.75%. The debt service on that would amount to $15k per month or $180k per year. Noted in the 8K filing is that the transaction would be reported in the second quarter 10Q.
Two months later another 8K filing pleaded a hardship exemption from compliance with SEC interactive codes noting that the company had less than $10k in cash on hand. This exemption had nothing to do with the requirement to file the basic financials as promised and required.
In November, a control buyer miraculously appeared that gave the appearance without any sort of documentation that cash problems had been solved.
How did Acdud expect to pay for the land acquired in April? Why didn't they file the 10Q2013 as promised? What has been the source of cash for servicing the debt? Why haven't the presumably well-funded new control owners brought the SEC filings up to date? Where is the CEO? Why has the IR dude gone into hiding? Why is their no evidence regarding ownership of any of the land? Why haven't any of the past and present managers ever appeared in public or provided enough info that they could be identified? Why haven't the new control owners identified themselves? Where is any evidence of hotel construction? Etc, etc and more later.
Encyclopedia of DD Procedure for Recycled Pinkies:
_T'S_SC_M
Would you like to buy a vowel?
