American Community Development (PINK:ACYD) has been on the progressive move since Tuesday. Yesterday, the stock 
soared another 3.33% on a substantially high traded volume. Looks like today the up move is meant to continue.
The main reason for the gain appears to be the huge promotional campaign on Tuesday. The records show that ACYD was promoted by a few websites for a total compensation of $45,000.
The promotions pumped up the stock price at once, though the campaign was followed by another supportive factor for ACYD. Namely, the latest news by the company.
Yesterday, ACYD reported that it has concluded a letter of intent to acquire and fund a real estate company and a $4.5 million portfolio. The closing of the merger is anticipated to be completed around Jan 1, next year.
Apparently, this news was released just in time to ensure the current up move of ACYD, though the result is yet to be seen.[BANNER]
Regarding the company’s financials, these don’t look that good. On the contrary, as of June 30 the liabilities of ACYD were notably higher as compared to its current assets, while the accumulated deficit totaled $1.8 million.
Based on its poor cash position, ACYD needs to attract both investment and debt capital for its new business line as well as for its new acquisition. Though, until the agreement gets signed, it is uncertain about the company’s ability to obtain sufficient capital and financing may be significantly dilutive to the then-existing shareholders.
