ST. PETERSBURG, Fla., June 27, 2012 /PRNewswire/ --American Community Development Group, Inc. (ACYD.PK) is providing recent changes in the share structure of its common stock. The release was slightly delayed by recent power outages and flooding from Tropical Storm Debby. In some cases, management team members are still without power.
The Company is also confirming that it is moving forward on several transactions but because they are larger commercial projects, there are more checklist items; zoning approvals, contractor completions and other elements involved. In the case of business acquisitions, management and the advisory group are actively engaging in specific transactions for a "best fit" and funding capacity. The Company will only file press release when specific transactions are under contract and the probable financing structure is developed to prevent any shareholder misunderstanding.
The Company has only recently restructured from the point during March when it was determined to discontinue the single family residential transitional housing program to a more complete, larger and more complicated "community" facility that would include housing, employment, counseling, job training and support. The company is very pleased that it expects to qualify forsecuredGovernment funding of $1500.00 per program client and the probability of matching funds of $1500.00 from a private endowment. This will eliminate some of the collections issues that plagued the past housing program.
Share changes are as follows;
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 | |
As of June 15th 2012 | |
171,976,213 Issued and Outstanding | |
56,934,830 Restricted | |
115,041,383 Un-Restricted | |
102,642,025 in Street Name | |
As of Monday June 25, 2012 | |
178,860,227 Issued and Outstanding | |
57,944,931 Restricted | |
120,915,296 Un-Restricted | |
107,642,025 in Street Name | |
Note* | 6,884,014 increase in Issued and Outstanding |
295,934 increase in restricted | |
6,588,080 increase in Un-restricted | |
20,128,204 increase in Float-shares in street name | |
The company, management nor any "insider" have not done any financing or selling during this period. Aged debt and note holders have converted. The company does predict that some continued conversions will occur, as well as the timing of aged 144 restricted shares. The Company is attempting to ensure that any corporate financing will have the least negative impact. If the company did financing or selling, the Issued and Outstanding would be substantially higher, as shown, the increase in I&O represents only $20K at .003
About American Community Development Group, Inc.
American Community Development Group, Inc. is a for-profit corporation founded to provide economic support and management guidance to the non-profit community to assist their support of various economically distressed citizens. We believe in the concept of "social entrepreneurship" as stewards of our investors' and our own resources while also creating strong economic returns on capital. ACDG has chosen this field because it offers stable growth and a socially conscious application of the talents of its founders. ACDG has signed agreements with non-profits that have been providers of services and operate missions for the homeless, ex-offenders, drug and alcohol programs and housing facilities for other disadvantaged persons in the Tampa Bay, Florida area.
Affordable Housing
We are acquiring interests in multi-family, affordable housing and other high occupancy commercial real estate properties. We will break new ground as a national provider of these affordable housing services by specializing in residents that have been previously under-served. As a for-profit company, we have the ability to acquire, renovate and manage group housing, primarily apartments and mobile home parks. We will dramatically increase cash flow through greater population density combined with efficient and professional property management.
Job Creation is Profitable Enterprise
The second focus of ACDG is to create jobs appropriate to the same disadvantaged citizens further supporting social entrepreneurship. These jobs will be created in various enterprises that require minimal capital versus their return through profits. The enterprise will be created through acquisition of profitable businesses or the launching of franchise type businesses that meet the employment and profitability criteria.
ACDG is creating multiple non-profit relationships nationally that have an ongoing need for both housing and job creation, and have government assisted agreements to assist in placement of disadvantaged citizens. ACDG projects 90% occupancy rates can be accomplished over a 90 day period with each new property acquired.
The corporate principals of ACDG are experienced property developers and managers on a national level in residential/commercial real estate. They also have a wealth of experience in emerging growth of public and private entities, capital markets, and merger/acquisition strategies.
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.
