Although Amer Community Dev Inc (PINK:ACDP) made an official announcement yesterday, it failed to deliver a positive market performance during the latest trading session.
Closing at $0.34 per share, ACDP stock lost another 17% in value, following Wednesday’s 8% depreciation. The volume, however, spiked considerably with more than 170 thousand shares of ACDP stock changing hands yesterday, marking a seven-fold increase over the preceding session, as well as an 84% improvement over the average daily trading volume.
Now, in an effort to give ACDP a breath of fresh air, third parties have pooled $5 thousand into a brand-new promotional campaign.
The company has been fairly prolific recently with regard to its investor relations policy. After a string of PRs, a new corporate update surfaced yesterday. According to the latter, the company had now secured the services of Canadian Mel Marshall. Renowned for its thorough grounding in geophysics, Marshall has been hired to design and subsequently utilise a seismic program for ACDP’s New Mexico-based Oil & Gas Exploration project.
American Community Development, Inc. describes itself as an emerging enterprise that aims to specialize in exploring oil and gas reserves in North America. The company was incorporated back in 1988 and recently announced a full-on drilling plan for its New Mexican project mentioned above.
Having adopted an alternative reporting standard, ACDP has been diligent in its financial policy so far. Last month, the company filed a comprehensive quarterly report. Covering the period ended Mar. 31, 2011, it revealed:
- zero cash and $25K in prepaid expenses, comprising the company’s current assets;
- $3 million in current liabilities plus $2.7 million in notes payable;
- $23K in sales revenue vs. $126K for the preceding quarter;
- net loss in excess of $35 thousand as opposed to $186K in Q4 of 2010.
Unless the company strikes oil as soon as possible, it will most probably continue to accumulate losses with no light at the end of the tunnel.
