ST. PETERSBURG, Fla., May 1, 2012 /PRNewswire/ --American Community Development Group, Inc. (the "Company") (OTC Pinksheets: ACYD) announced that on Monday, April 23, 2012, the Company was advised by the Delaware Division of Corporations (the "Division") that a proposed amendment to the Company's Certificate of Incorporation has been accepted for filing with the Division. A copy of the Certificate of Amendment of Certificate of Incorporation will be attached as Exhibit "A" to this press release when uploaded and filed with OTC Markets Group, Inc.
The principal features of the amendment include an increase to the number of authorized shares of common stock of the Company to 500,000,000 shares (par value $0.0001 per share). Also, the Company is now authorized to issue up to 75,000,000 shares of preferred stock (par value $0.0001 per share). The Company Board of Directors is expressly granted the authority to divide any or all of the preferred stock into series and to fix and determine the relative preferences of the shares of each series established, subject to certain limitations set forth in the amendment. Please see the Certificate of Amendment of Certificate of Incorporation for the full text of the amendment.
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.
http://americancommunitydevelopmentgroup.com
SOURCE American Community Development Group, Inc.
