American Community Development Group, Inc. (OTCMKTS:ACYD) Receive Unprecedented Attention, Surge Upwards
The massive changes that American Community Development Group, Inc. (OTCMKTS:ACYD) went through this past month have finally began to effect the performance of their stock. Less than two weeks ago the company was trading at $0.001 but after another amazing session yesterday it finally left the double zero territory by adding 50% to its value and closing at $0.014. Traded volume doubled the average amount by reaching 36 million shares. The absolute record for ACYD happened last Friday when 69 million shares changed their owners.
Normally such a steep upwards trend wouldn’t be possible for a pennystock company that is in the OTC Pink limited information tier without the involvement of a paid pump. But fortunately for shareholders of ACYD the company hasn’t been mentioned in any alert emails since February 2012. So why are investors displaying such strong confidence in the stock?
That’s because ACYD underwent a radical overhaul of every aspect of the company. They did a merger with Wialan Technologies LLC, all of the management team was substituted with Wialan’s and a new name and symbol should be assigned in the next 45 days. For now we have no way of knowing what Wialan brought in the form of financial results and ACYD has skipped filing the report for the second quarter of 2013. But for the period ending March 31 things didn’t look promising:
- ZERO cash
- $5 thousand total current assets
- $500 thousand total current liabilities
- $3 thousand revenues
- $46 thousand net loss
Not to mention the extreme dilution that must have happened. For December, 2012 ACYD reported 336 million outstanding shares who as of late-August turned into 2.5 billion. Maybe that is why Wailan announced that an aggressive buyback strategy is going to be employed until the float has been decreased to around 100 million shares.
Although Wailan have a stable business as a wireless service provider with airports, parks and apartment buildings using their devices it is still a risky bet investing in them until a consolidated balance sheet has been filed.
Another stock that surged yesterday was 3D Eye Solutions, Inc. (OTCMKTS:TDEY) who closed at $0.008 after an increase of more than 90%. Alkaline Water Co., Inc. (OTCBB:WTER) are still on their way to recovery after the first crash of the $3 million pump.