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Unix/Linux "finger" Command is what the news reminds me of. Sent that to the company and said they should use that as name of service. I should get a cut of the profits :)
NP. It would be nice if the company would break its silence.
Need something to get through .005. Im ready to read the 10Ks...
Zeobond - Low Carbon Paving Material
Zeobond also has a low carbon paving material that they are launching at this expo:
http://buildexpoonline.com.au/blog/latest-updates/Low-carbon-paving-to-launch-at-expo
Zeobond Article and Video
Article mentions ACDU partner Zeobond and video talks about magnitude of CO2 emissions from concrete.
1 ton concrete = 1 ton carbon
http://www.ienergysaver.com/concrete-7-global-co2-emissions-global-warming-impact
WESBANCO bought sometime between 03/31/2009 - 06/30/2009 and held until at least 03/31/2010 or still currently holds.
Greylin bought between 9/30/2009 - 12/31/2009 and sold between 12/31/2009 - 03/31/2010.
Institutional Investment Funds own/owned ACDU
No huge holdings but still kinda interesting as I have read many arguments about institution involvement in OTC. I found a couple huge funds that own or used to own ACDU. Institutions are required to file form 13F which is a "Holdings Report", but I am not sure why they are even reporting ACDU as its not a Section 13(f) security.
WESBANCO TRUST AND INVESTMENTS - 1 Billion $ Fund
This report ending 06/30/2009 has 80K shares of Italian Oven:
http://www.sec.gov/Archives/edgar/data/877134/000087713409000007/trust.txt
I checked the previous report to see if they owned it from back in the restaurant days, but no ownership for the report ending 03/31/2009:
http://www.sec.gov/Archives/edgar/data/877134/000087713409000005/trust.txt
And the current report ending 03/31/2010 has 80 K shares of "Accredited Business":
http://www.sec.gov/Archives/edgar/data/877134/000087713410000004/trust.txt
Greylin Investment Management Inc - 248 Million $ Fund
Owned 50K "Italian Oven Inc New" according to this report ending December 31 2009:
http://www.sec.gov/Archives/edgar/data/1158583/000115858310000001/dec09.txt
It appears they sold because the next report does not have any shares listed.
They have said they prefer to only update shareholders when they have something worth saying. I don't expect they will provide routine status reports on all their subs. However, once they are current and submitting regular 10-Q's, shareholders will be able to assess their progress.
Also, it costs $435 per press release. As a shareholder, I would rather they spend that money on other things if the news they are reporting is not that important. The only activity I think they really needed to provide an update on is the progress of the audits. IMO they should explain whats the hold-up.
http://www.globenewswire.com/faqs/ratesheet/uswire.html
Someone said ACDU's CEO is in Europe. Maybe I will try and look her up ;) My Pleasure LTD is a private company thats why there is little info about them other than the filings they are required to submit IAW UK law.
Thanks tungtung,
Im not sure how long it will take ACDU to accomplish the events I mentioned, but I think they are headed in the right direction.
I think its crazy that one year ago millions are shares were traded at our current level when only a fraction of the information about the company's activities was available to the market. Personally, I value ACDU much more than a measly 2 Million dollar market cap.
But, not many people are willing to "invest" in a Pink Sheet stock. This is my only pink sheet that I currently own and consider an investment. I anticipate more interest in the stock once the company is current with their financial reports and is upgraded to the OTCQB tier.
What damaged this stock was the dividends. Lots of people promoted the dividends, which is a typical pump job type BS, and when they were delayed, it really hurt the stock and the companies reputation. Thats all everyone still talks about even though the company has done so much over the past year or so. Especially given the fact it was done without dilution. Thats why I think the release of the financials and registration statements is important because that is verifiable progress on the dividends.
ACDU Analysis - Fundamental and Technical
I have been following ACDU for about 8 months. This post documents my analysis of ACDU. If you have any thoughts on ACDU, send me a PM...
-|| FUNDAMENTAL ANALYSIS ||-
** Company Information **
Accredited Business Consolidators Corporation (ACDU) is approximately 1 1/2 years old. The company started in late 2008 when My Pleasure LTD (a private UK Company) purchased the controlling block of ACDU common shares. At the time of the purchase, ACDU was trading as The Italian Oven Incorporated (IOVE). IOVE was an Italian restaurant chain that went bankrupt in 1996. IOVE emerged from bankruptcy in 1997 with the common shares intact and remained a shell corporation with zero assets and zero liabilities until the company was purchased by My Pleasure LTD. According to My Pleasure LTD's annual accounts and ACDU reports, the shell cost 150 thousand USD. In addition, My Pleasure LTD annual accounts indicate the amount of initial funding provided to ACDU was 1.2 million USD. Before engaging in any actual business operations, the company performed the following activities / initiatives:
- 100:1 forward split to increase liquidity
- Retired 1.8 M common shares
- Converted the control block of common shares (owned by My Pleasure LTD.) into non-convertible preferred shares
- Implemented a share issuance moratorium which restricts the company from issuing any shares of stock until the moratorium has ended (Currently expires Nov 2010)
- Announced intent to return to current status with SEC. Prior to the bankruptcy, the company was registered with the SEC. While dormant, the company did not file financial reports as required. ACDU is currently working through the backlog of financial reports.
In June of 2009, the company announced the formation of its initial subsidiaries to hold future business ventures. In my opinion, this marked the end of restructuring and the start of actual business operations. The company also announced its business model. The key concept is the acquisition or creation of small businesses which will be spun-off as separate publicly traded stocks. This provides ACDU with a low-cost method of raising capital to assist each subsidiaries growth. According to an email from ACDU Investor Relations, prior to the spin-off, each subsidiary will file a registration statement with the SEC which will “detail every aspect of the program (for each subsidiary)” regarding the raising of capital via stock issuance. Over the past year, the company has initiated various business ventures. Listed below is a summary of each subsidiary:
Telecom Tools. Inc – A PA state corporation (Entity Number 3891753) established in July 2009. Telecom Tools Inc. is a joint venture created to hold a patent on a telecommunications tool modification. ACDU owns 45% of the company. A patent attorney was retained and the attorney filed the patent on 15 January 2010. ACDU has stated this subsidiary will be spun-off to ACDU shareholders after filing a registration statement with the SEC.
Bankruptcy Claims Fund Inc - A PA State Corporation (Entity Number 3891770) established in July 2009. This company was created to invest in bankrupt companies including Lehman Brothers Holding Inc. ACDU later sold their stake in Lehman for a 10% loss. (See 8K filed on 30 Mar 2010 for rationale). I believe this subsidiary currently has no business activities and I expect this subsidiary will be dissolved into Accredited Business Development Corporation.
Accredited Business Development Company - A PA State Corporation (Entity Number 3944662) established in March 2010. According to ACDU, "Accredited Business Development Company's investments will be diversified in nature including investments into franchise operations, office supply stores, and computer supply stores in developing nations". ACDU has stated this subsidiary will be spun-off to ACDU shareholders after filing a registration statement with the SEC.
Richwood Eco Ventures - A PA State Corporation (Entity Number 3892542) established in July 2009. Richwood is a joint venture with four Nicaraguan corporations that salvaged, processed, and exported timber. ACDU's role in the venture was to market wood. According to multiple press releases, ACDU successfully located multiple customers. Currently, Richwood Eco Ventures is expanding operations and is performing due diligence regarding "developing a new factory controlled exclusively by our Richwood subsidiary, purchasing the entire Rich Corporation factory, or purchasing a controlling or partnership interest in a working factory belonging to a third-party". ACDU has stated this subsidiary is producing revenue and will be spun-off to ACDU shareholders at a ratio of 1 share of Richwood for every 1 share of ACDU after filing a registration statement with the SEC.
Accredited Suppliers Corporation - A PA State Corporation (Entity Number 3916560) established in November 2009. This subsidiary owns 97% of Accredited Suppliers Nicaragua, Sociedad Anonima which distributes automobile parts to small parts stores in Central America. ACDU has stated this subsidiary is producing revenue and will be spun-off to ACDU shareholders at a ratio of 1 share of Accredited Suppliers for every 1 share of ACDU after filing a registration statement with the SEC.
Grupo Accredited RAC - On 23 April 2010, ACDU announced the initiation of a vehicle and equipment rental company in Central America. The company is currently completing paperwork to establish a Nicaraguan company and a Pennsylvania company to hold the business.
Accredited Consolidators Europe Inc. - A PA State Corporation (Entity Number 3916614) established in November 2009. Accredited Consolidators Europe Inc. owns Accredited Consolidators Europe PLC, a United Kingdom Public Limited Company (Number 07045928). It's business model will mirror that of Accredited Business Consolidators Corp. in the United States, but it will be focused on Eastern European investments and on investments that may be subject to regulatory scrutiny in the United States. ACDU has stated this subsidiary will be spun-off to ACDU shareholders at a ratio of 1 share of Accredited Consolidators Europe for every 250 shares of ACDU after filings a registration statement with the SEC.
Envirocare Corporation - A PA State Corporation (Entity Number 3891766) established in July 2009. On 26 April 2010, ACDU announced that Envirocare Corp. has joined the joint venture entitled Calichi Sino Incorporated. According to ACDU, “the alliance members are already offering green solutions to the construction industry and CSI will enhance the success of the numerous opportunities that will be presented through this venture”.
Soluciones Faciles, S.A. - ACDU owns 25% of Soluciones Faciles, S.A., a Costa Rican corporation, which presently provides short term payday or microloans to individuals and businesses in Costa Rica.
Marilyn Boutique - ACDU owns 25% of Marilyn Boutique which offers unique gothic, metal, Victorian, and vintage clothing in Costa Rica.
Domain Management - In June of 2009, ACDU purchased Domain Management Inc., a San Antonio based developer of Internet software.
Accredited Hospitality Group – A PA State Corporation (Entity Number 3917059) established in November 2009. According to ACDU, Accredited Hospitality Group is “a wholly owned subsidiary of IOVE, invested in an undisclosed holding corporation that purchased a small hotel. The hotel plans to conduct a public offering to raise capital to build a new complex consisting of modern rooms, a storage facility, a safe deposit box facility, Laundromat, internet café, and business center. After the filing of the registration statement, AHG may choose to divest itself by dividend”.
** Share Structure **
Authorized common shares: 450,000,000
Outstanding common shares: 436,399,500
Public Float: 328,018,200
70,546,600 shares are restricted in certificate form, and 37,834,700 shares are unrestricted but in certificate form. There will be no increases in shares until at least 01 Nov 2010.
Because of the bankruptcy decision in 1997 to leave the common shares intact, there are a large number of shareholders that have held shares for over ten years. The 100 Million shares in certificate form are owned by over 600 individuals who invested in the previous company prior to the bankruptcy. In addition, of the 328 M shares in the public float, the company estimates 70 Million shares are also held by long term shareholders. The company estimates the actual tradable public float to be 250 - 260 M shares.
--|| TECHNICAL ANALYSIS ||-
** Short Term **
ACDU needs to breakout of another recent descending triangle pattern as shown below:
** Long Term **
ACDU needs to break .008 to confirm triple bottom as shown below:
--|| FORWARD LOOKING EVENTS ||-
These are the key events that I am looking forward to:
1. Completion of remaining financial reports (ACDU has filed 10-Qs for 2001-2008 and audited 10-Ks for 2001-2006)
2. Filing of registration statements for multiple subsidiaries
3. Completion of paperwork for Grupo Accredited RAC and Calichi Sino
4. After registration statements considered effective, announcement of dividend ex-dates
I own shares of ACDU. I was not compensated for this post. I like the idea of a community of investors sharing information for the benefit of all...
Bluemoonraider
04 June 2010
ACDU Analysis - Fundamental and Technical
I have been following ACDU for about 8 months. This post documents my analysis of ACDU. If you have any thoughts on ACDU, send me a PM...
-|| FUNDAMENTAL ANALYSIS ||-
** Company Information **
Accredited Business Consolidators Corporation (ACDU) is approximately 1 1/2 years old. The company started in late 2008 when My Pleasure LTD (a private UK Company) purchased the controlling block of ACDU common shares. At the time of the purchase, ACDU was trading as The Italian Oven Incorporated (IOVE). IOVE was an Italian restaurant chain that went bankrupt in 1996. IOVE emerged from bankruptcy in 1997 with the common shares intact and remained a shell corporation with zero assets and zero liabilities until the company was purchased by My Pleasure LTD. According to My Pleasure LTD's annual accounts and ACDU reports, the shell cost 150 thousand USD. In addition, My Pleasure LTD annual accounts indicate the amount of initial funding provided to ACDU was 1.2 million USD. Before engaging in any actual business operations, the company performed the following activities / initiatives:
- 100:1 forward split to increase liquidity
- Retired 1.8 M common shares
- Converted the control block of common shares (owned by My Pleasure LTD.) into non-convertible preferred shares
- Implemented a share issuance moratorium which restricts the company from issuing any shares of stock until the moratorium has ended (Currently expires Nov 2010)
- Announced intent to return to current status with SEC. Prior to the bankruptcy, the company was registered with the SEC. While dormant, the company did not file financial reports as required. ACDU is currently working through the backlog of financial reports.
In June of 2009, the company announced the formation of its initial subsidiaries to hold future business ventures. In my opinion, this marked the end of restructuring and the start of actual business operations. The company also announced its business model. The key concept is the acquisition or creation of small businesses which will be spun-off as separate publicly traded stocks. This provides ACDU with a low-cost method of raising capital to assist each subsidiaries growth. According to an email from ACDU Investor Relations, prior to the spin-off, each subsidiary will file a registration statement with the SEC which will “detail every aspect of the program (for each subsidiary)” regarding the raising of capital via stock issuance. Over the past year, the company has initiated various business ventures. Listed below is a summary of each subsidiary:
Telecom Tools. Inc – A PA state corporation (Entity Number 3891753) established in July 2009. Telecom Tools Inc. is a joint venture created to hold a patent on a telecommunications tool modification. ACDU owns 45% of the company. A patent attorney was retained and the attorney filed the patent on 15 January 2010. ACDU has stated this subsidiary will be spun-off to ACDU shareholders after filing a registration statement with the SEC.
Bankruptcy Claims Fund Inc - A PA State Corporation (Entity Number 3891770) established in July 2009. This company was created to invest in bankrupt companies including Lehman Brothers Holding Inc. ACDU later sold their stake in Lehman for a 10% loss. (See 8K filed on 30 Mar 2010 for rationale). I believe this subsidiary currently has no business activities and I expect this subsidiary will be dissolved into Accredited Business Development Corporation.
Accredited Business Development Company - A PA State Corporation (Entity Number 3944662) established in March 2010. According to ACDU, "Accredited Business Development Company's investments will be diversified in nature including investments into franchise operations, office supply stores, and computer supply stores in developing nations". ACDU has stated this subsidiary will be spun-off to ACDU shareholders after filing a registration statement with the SEC.
Richwood Eco Ventures - A PA State Corporation (Entity Number 3892542) established in July 2009. Richwood is a joint venture with four Nicaraguan corporations that salvaged, processed, and exported timber. ACDU's role in the venture was to market wood. According to multiple press releases, ACDU successfully located multiple customers. Currently, Richwood Eco Ventures is expanding operations and is performing due diligence regarding "developing a new factory controlled exclusively by our Richwood subsidiary, purchasing the entire Rich Corporation factory, or purchasing a controlling or partnership interest in a working factory belonging to a third-party". ACDU has stated this subsidiary is producing revenue and will be spun-off to ACDU shareholders at a ratio of 1 share of Richwood for every 1 share of ACDU after filing a registration statement with the SEC.
Accredited Suppliers Corporation - A PA State Corporation (Entity Number 3916560) established in November 2009. This subsidiary owns 97% of Accredited Suppliers Nicaragua, Sociedad Anonima which distributes automobile parts to small parts stores in Central America. ACDU has stated this subsidiary is producing revenue and will be spun-off to ACDU shareholders at a ratio of 1 share of Accredited Suppliers for every 1 share of ACDU after filing a registration statement with the SEC.
Grupo Accredited RAC - On 23 April 2010, ACDU announced the initiation of a vehicle and equipment rental company in Central America. The company is currently completing paperwork to establish a Nicaraguan company and a Pennsylvania company to hold the business.
Accredited Consolidators Europe Inc. - A PA State Corporation (Entity Number 3916614) established in November 2009. Accredited Consolidators Europe Inc. owns Accredited Consolidators Europe PLC, a United Kingdom Public Limited Company (Number 07045928). It's business model will mirror that of Accredited Business Consolidators Corp. in the United States, but it will be focused on Eastern European investments and on investments that may be subject to regulatory scrutiny in the United States. ACDU has stated this subsidiary will be spun-off to ACDU shareholders at a ratio of 1 share of Accredited Consolidators Europe for every 250 shares of ACDU after filings a registration statement with the SEC.
Envirocare Corporation - A PA State Corporation (Entity Number 3891766) established in July 2009. On 26 April 2010, ACDU announced that Envirocare Corp. has joined the joint venture entitled Calichi Sino Incorporated. According to ACDU, “the alliance members are already offering green solutions to the construction industry and CSI will enhance the success of the numerous opportunities that will be presented through this venture”.
Soluciones Faciles, S.A. - ACDU owns 25% of Soluciones Faciles, S.A., a Costa Rican corporation, which presently provides short term payday or microloans to individuals and businesses in Costa Rica.
Marilyn Boutique - ACDU owns 25% of Marilyn Boutique which offers unique gothic, metal, Victorian, and vintage clothing in Costa Rica.
Domain Management - In June of 2009, ACDU purchased Domain Management Inc., a San Antonio based developer of Internet software.
Accredited Hospitality Group – A PA State Corporation (Entity Number 3917059) established in November 2009. According to ACDU, Accredited Hospitality Group is “a wholly owned subsidiary of IOVE, invested in an undisclosed holding corporation that purchased a small hotel. The hotel plans to conduct a public offering to raise capital to build a new complex consisting of modern rooms, a storage facility, a safe deposit box facility, Laundromat, internet café, and business center. After the filing of the registration statement, AHG may choose to divest itself by dividend”.
** Share Structure **
Authorized common shares: 450,000,000
Outstanding common shares: 436,399,500
Public Float: 328,018,200
70,546,600 shares are restricted in certificate form, and 37,834,700 shares are unrestricted but in certificate form. There will be no increases in shares until at least 01 Nov 2010.
Because of the bankruptcy decision in 1997 to leave the common shares intact, there are a large number of shareholders that have held shares for over ten years. The 100 Million shares in certificate form are owned by over 600 individuals who invested in the previous company prior to the bankruptcy. In addition, of the 328 M shares in the public float, the company estimates 70 Million shares are also held by long term shareholders. The company estimates the actual tradable public float to be 250 - 260 M shares.
--|| TECHNICAL ANALYSIS ||-
** Short Term **
ACDU needs to breakout of another recent descending triangle pattern as shown below:
** Long Term **
ACDU needs to break .008 to confirm triple bottom as shown below:
--|| FORWARD LOOKING EVENTS ||-
These are the key events that I am looking forward to:
1. Completion of remaining financial reports (ACDU has filed 10-Qs for 2001-2008 and audited 10-Ks for 2001-2006)
2. Filing of registration statements for multiple subsidiaries
3. Completion of paperwork for Grupo Accredited RAC and Calichi Sino
4. After registration statements considered effective, announcement of dividend ex-dates
I own shares of ACDU. I was not compensated for this post. I like the idea of a community of investors sharing information for the benefit of all...
Bluemoonraider
03 June 2010
Im shocked! :) Thanks for sharing.
I am putting together a all-in-one post of my knowledge of ACDU. Im heading to Europe for a while and not sure if I will be able to access ihub. Ill post in a little while.
According to various sources on the internet, "debtors" are the businesses and people who owe the business money, and so are assets of the company.
Originally I thought My Pleasure LTD would show one entry in their balance sheet for all the money they have provided ACDU, but now that I think about it, the 150K was an investement in ACDU stock and the funding for ACDU operations is via loans. So, I think the "investment" asset of 150K will remain the same (unless they make more investments) and the "debtors" asset will represent the funding My Pleasure LTD provides ACDU.
1.2 M seems like a nice amount to startup operations. Wonder if they have received more?
My Pleasure LTD abbreviated annual accounts ending MAR 2009
The statement confirms the purchase of ACDU for 150K and lists ACDU as an asset with a value of 150K (the amount they paid to purchase the IOVE shell). This makes sense because ACDU did not start any business activities until June 2009 IAW SEC 8K.
The only other entry in the balance sheet was an asset entitled "debtors". I am no accountant, but I believe this is the funding My Pleasure LTD has provided to ACDU or the funding My Pleasure LTD will receive from its investors. The asset totals $ 1.2 M USD
Thanks Sky.
I think it is similar to richwood eco ventures. I bet their role is marketing & negotiations and prob also providing funding IMO.
They are part of calichi sino inc.
Accredited Business Consolidators Corp., (Pink Sheets:ACDU), previously announced that its subsidiary, Envirocare Corp., was working on a business venture to sell environmentally friendly cementitious products that contain reduced Portland cement.
ACDU negotiated with multiple entities that offer green cementitious products. After a complete review, the Company determined that it would join an alliance between various professionals. The alliance formed a company, Calichi Sino Inc., to move forward with bringing green construction materials to market.
ACDU will not hold a control position in the new entity; rather, it will directly and indirectly own about 20% of the alliance. However, the scope of the alliance will be much broader than a green concrete plant in Nicaragua. Rather, CSI already began negotiations for multiple projects.
More importantly, the other members of the alliance include the creators of a green cement known as Zeobond. Zeobond's product, which is being produced and used in Australia, will be the starting point for CSI's offering. Additional members of the alliance include the founders of Harricrete Ltd. of Trinidad & Tobago, West Indies. Harricrete has extensive experience bringing cementitious products to market. Other participants in the alliance will be announced in the future as agreements are secured.
Over the next month, ACDU and the other alliance members of CSI will continue the process of finishing the exact share structure of the new entity. Thereafter, it will create a registration statement for CSI. CSI's Central Index Key number with the Securities and Exchange Commission is 0001489668. Shareholders are invited to review filings with the CIK code when they are released to be informed of further details.
ACDU believes its participation in CSI is an extraordinary opportunity as the alliance members are reputable and able to bring environmentally friendly building supplies to market. As stated, the alliance members are already offering green solutions to the construction industry and CSI will enhance the success of the numerous opportunities that will be presented through this venture.
They like to submit SEC reports Wed - Fri after noon for whatever reason.
Thats what I suspected. The first step in filing with SEC is getting EDGAR access codes.
Here is the direct link. Not sure if this will work:
http://wck2.companieshouse.gov.uk/59c9d4d6caddcc4b6bebc2af2b48570f/compdetails
If not, just go to the companies house and search for My Pleasure using the WebCheck Service:
http://www.companieshouse.gov.uk/
I believe it will take 1 business day for the filing to be made available. Currently it says:
"Highlighted documents are not yet available for inspection"
It will cost one of these "£". I think thats a pound? It will be a few dollars with all the international fees if you buy it.
New My Pleasure LTD Filing!!!
My Pleasure LTD (The company that owns ACDU) just filed their annual accounts up to 31 Mar 2009. The annual accounts will have a basic balance sheet. I suspect My Pleasure LTD was late on their filing because they were waiting for ACDU to finish their financials. I believe the annual accounts will show ACDU as an asset in the balance sheet. Because of this, I suspect ACDU has completed their financials and expect to see them very soon...
The filing of the annual accounts brings My Pleasure LTD current with their filings.
Same thing for accredited suppliers corp:
http://www.sec.gov/Archives/edgar/data/933425/000093342509000082/iovn20091217.htm
Nope. Need to bump it up to .044 :)
Company has changed hands multiple times since the BK
I don't think thats gonna be possible. They have to file reg statement and have that statement be considered effective by SEC. Look at DMPD. Filed 9 April 2010. No response yet from SEC.
I think filing financials and reg statements should get some good interest, but I don't expect divies 2nd Q.
Lol. Sometimes I get a good detailed response to my emails and sometimes I get the stock Reg FD. I think Andy and Joanna take turns responding to emails and thats why we get bipolar responses...
This is the bad side of no dilution. If I was starting up a public OTC company and not selling shares, I guess it would also make no difference to me if the SP was .004 or .008. The company claims to be busy working. This should be reflected in the financial statements. I will be looking for verification of the funding from My Pleasure LTD, reasonable expenses and G&A, and hopefully we can also see revenue increasing in Q1 FY 2010.
Without the financials, ACDU SP is based on speculation. Everyone holding or buying right now is taking big risk because a lot of information has not been released to the market. Once the info is released, the SP should move one way or the other regardless of the companies cavalier attitude...
I asked your questions and here is the response I received:
"OTCQB companies must have at least one market maker quoting the security through our Pink Quote system. If they do not, a 211 would be required. However, a vast majority of the quoted securities in the OTC space have at least one market maker in our system.
If a company is late on its filings, they are moved to Pink Sheets Limited or Pink Sheets No Information (depending on the last filing date) until the situation is rectified. FINRA still has the ability to add Es to the symbol if the company is also quoted on OTCBB. If it is only quoted on Pink Quote, no E would be added.
Regards,
Brandon
Brandon Ferguson
Business Analyst
Pink OTC Markets Inc.
304 Hudson Street, 2nd Floor
New York, NY 10013
issuers@pinkotc.com
+1.212.896.4420 w
+1.212.652.5920 f"
Not sure about those questions. I can't find much info on the new OTCQB. I did pass on this article to ACDU:
http://www.otcmarkets.com/content/doc/pinknews/RMR/May/2010.pdf
and this is what they said:
"Hi XXX.
Thank you for the article. While we do not believe that Pink Sheets' classification system is anything special, it is clear that many market makers are choosing the Pink Sheets electronic quotation system over the OTCBB's system. Investors should not confuse the classification system with the quotation system.
Investor Relations
AccreditedBiz"
I thought they were both only quotation systems but I guess I need to do more reading...
ACDU from Pinksheet to OTCQB Response
According to OTC Markets, ACDU will automatically move from Pink Sheets tier to OTCQB when they become current w SEC filings.
XXX,
Once the company is up to date with their reports, our systems will automatically move them to the OTCQB tier.
Best regards,
Brandon
Brandon Ferguson
Business Analyst
Pink OTC Markets Inc.
304 Hudson Street, 2nd Floor
New York, NY 10013
issuers@pinkotc.com
+1.212.896.4420 w
+1.212.652.5920 f
Currently they are in the Pink Sheet Limited Information tier, BUT they are still registered with the SEC. They used to be a big board stock (some Italian Restaurant that went bankrupt) and never de-registered. Therefore they are still required to file reports IAW the SEA but previous management did not file any reports after emerging from bankruptcy with no assets or debt and with commons intact.
When the new management bought the shell, they said they will bring the company back to being current with filings which I believe will automatically move them from pink sheets to OTCQB.
Your correct. The initial story was dividend shares of subs to shareholders of ACDU, but after they announced this they said their counsel told them they need to become current and file reg statements first so that is what killed the momentum of the first run. I believe the excuse because of this:
http://www.sec.gov/interps/legal/slbcf4.txt
Now, the company is starting to release the audited 10K's. Then the reg statements for at least three subs should follow. The filing of the 10K's and reg statements should generate good interest. Possibly enough interest to confirm the triple bottom. Do you agree?
Lowtrade comments on ACDU:
Lowtrade Post
Thank you!
You are correct, I do follow the story. I initially traded the chart, but the story sucked me in:)
ACDU is working through a backlog of audited 10Ks. They have done 2001 - 2006 so far. I am hoping when I see the 2008 or 2009 10K I will be able to better understand or verify the big board style funding situation. Also, the company that controls ACDU (My Pleasure LTD) is a private UK company and UK rules require them to file annual financial reports so I will be looking at those also.
Thanks again for your experience and insight. I will keep all of this mind.
And it looks like they cannot sell them until ACDU is current:
"If you want to sell your restricted or control securities to the public, you can follow the applicable conditions set forth in Rule 144. The rule is not the exclusive means for selling restricted or control securities, but provides a "safe harbor" exemption to sellers. The rule's five conditions are summarized below:"
"Adequate Current Information. There must be adequate current information about the issuer of the securities before the sale can be made. This generally means that the issuer has complied with the periodic reporting requirements of the Exchange Act."
http://www.sec.gov/investor/pubs/rule144.htm
I agree. We will have a good idea if those shares are changing hands because they are also in cert form.
I just sent an email last week asking about those. I asked who owns them and what were the conditions that needed to be satisfied for the shares to become unrestricted but I have not heard back yet.
Do you know who has those?
"Ultimately what I discovered on AMSZ is that it was dropped because while the shares themselves weren't being diluted the company was retiring restricted without reducing the outstanding. They did this with 30 million shares that we know about and I believe a total of 60 million shares. This of course created HUGE selling pressure as the market was flooded with millions of shares. Does ACDU have any restricted shares they may be doing this with? That would be one very easy explanation and something that COULD be done even with a share moratorium in place."
This is not possible with ACDU. If you retire shares, the OS IS reduced. The only way the OS would not be reduced is if the company simultaneously issued new non-restricted shares. ACDU cannot do that. If AMSZ is doing that then they are diluting and that is what might be driving the price down.
You should be able to see if AMSZ is selling by looking for a Form D even tho AMSZ is not registered. New SEC rule:
"The SEC does not require companies that are raising less than $1 million under Rule 504 of Regulation D to be "registered" with the SEC, but these companies are required to file a Form D with the SEC. The Form D serves as a brief notice that provides information about the company and the offering."
Lol. I think this is TOS violation anyway and will probly be deleted for talking about another stock on this board.
Lowtrade,
You commented in the past on ACDU (formerly IOVE) and I was wondering if you could provide your opinion again. Here is what I see and a little background on the company:
ACDU was a shell until late 2008. A company from the UK (My Pleasure LTD) purchased ACDU. Around June 2009 the company released information about starting up operations. As the company released more information about the business plans the price started going up and then had a good run around Oct of last year. Since the run, I have seen two patterns develop, a descending triangle that formed during the retracement and now a potential triple bottom formation. Do you agree and do you see anything else that is significant? The only negative I see is that the stock has retraced past acceptable levels (61.8% Fib).
Also, I have read your comments on the dark side and I was wondering what you think about potential dark side activities on ACDU. The company is currently under a "share issuance moratorium" until Nov 2010. The company has stated this on their website and in filings with the SEC. The company that controls ACDU does so with non-convertible preferred shares and funds ACDU with non-convertible simple interest loans. The current business plan for ACDU is to create or acquire companies and then spin-off the companies as tracking stocks with the intent of raising capital by selling the subsidiaries stock. Do you know of any OTC stocks that have successfully implemented this strategy? Do you think the company could exploit ACDU shareholders with this strategy?
Thanks for any input. You have a great board!
Here is an ACDU chart with the patterns I see. Also, Stockcharts refuses to adjust for a 100:1 forward split in May 2009 thus the stockcharts.com chart is incorrect prior to May 2009. OTC Markets and TD Ameritrade are correct.
Quarterly Report Posted?
Will the company be posting a quarterly report or will the only update be via PR?
The PR said the company had an increase in "net income" which is different than revenue. I believe the bottom line could have been increased by somthing not so good like converting debt to equity or by something good like reducing expenses. Would be nice to see an income statement.
As you said, they might read the board and therefore know that BL is the mod. The 8K they submitted about the BK trial sounded like the person knew alot about BKs and maybe uses Ihub for that and knows how the boards work? Just a guess...
The current chart setup reminds me of the setup from mid aug 09. Similar pattern and almost same volume considering we are trading 2x higher so current volume is 1/2 of aug 09.
Audits gotta be getting close... Hope they are sitting on the reg statements and uplist info too so its ready to go.
Did you see this:
"For Periods Ended: December 31, 2008 and December 31, 2009"
Lol. Maybe thats why it is NTN...
Hmmm. Looks like it was just fixed with an amendment?