ACDU audit due any day, bottoms in!
Accredited Business Consolidators Corp. Retains Independent Auditors and Extends Share Issuance Moratorium
http://online.wsj.com/article/PR-CO-20100218-900023.html?mod=crnews
DOYLESTOWN, Pa., Feb. 18, 2010 (GLOBE NEWSWIRE) -- Accredited Business Consolidators Corp., (Pink Sheets:ACDU), today announced the retention of independent auditors to audit its financial statements. Berman W. Martinez y Asociados, of Managua, Nicaragua, has been retained. The independent auditing firm is registered with the Public Company Accounting Oversight Board in the United States and, as a result, may perform audits for public issuers of securities.
The decision was made to use an auditor in Nicaragua since many of the Company's operations are in Central America, including Nicaragua, and the auditors are familiar with Central American currencies and their exchange rates.
Finally, many of our shareholders have expressed a concern that the share issuance moratorium will expire on June 30, 2010. The purpose of the moratorium was meant to provide shareholders with confidence that the company has no intention of diluting its common stock without sufficient advanced notice. By resolution of February 15, 2010, the moratorium is extended until August 30, 2010, and no common shares can be issued until that time.
ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.
Accredited Business Consolidators Corp. is a diversified holding corporation. More information about the Company's subsidiaries may be obtained at www.accreditedbiz.com. The total number of authorized ACDU common shares is 450,000,000, and the number of common shares outstanding is 436,399,500. 329,086,200 shares are in the public float and on hand with CEDE & Co., 70,546,600 shares are restricted in certificate form, and 36,766,700 shares are unrestricted but in certificate form. There will be no increase in shares until at least June 30, 2010.
This is not an offer to sell securities. Statements made are forward-looking subject to risks and uncertainties. Statements included are made as of the date hereof, and the company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.
CONTACT: Accredited Business Consolidators Corp.
Investor Relations
267-864-7737
Fax: 267-371-5168
info@accreditedbiz.com
Twitter: accreditedbiz