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OTCMarkets.com just updated their stock chart. Previously they did not adjust for the forward split last May.
Too bad stockcharts.com refuses to update the chart. They claim the price would be too small to plot.
I also sent an email to Investorshub and asked why the historical IOVE data was not appended to ACDU. No answer yet.
Uh... That was filed in an 8K 5 days ago.
"The Company is in final negotiations with several suppliers for a joint venture and intends to provide a release relating to its scope and direction within 14 days."
I did not have any problems downloading the file. PM me your email and ill send it to you.
Glad to see you made it over here alaska. I like your posts because they seem honest.
I agree. I would not have issued that as it was written. I also do not believe the company intentionally pumped the price up last year. They had a lot of material developments last year because that is when they started buying and creating companies. The company bought the shell at the end of 2008. They want to spin off the subsidiaries so that they can operate semi-independently (including raising capital). They are not issuing the dividends strictly for the benefit of ACDU shareholders. Initially they planned to offer the dividend without filing a registration statement, but they found out that they needed to file after announcing the planned dividends. That is the cause of the delay. I don't see how they could have announced their plans of spinning off companies without the OTC market getting very excited.
The PR today was not adversarial
The company has made multiple statements about their intentions. Here is an excerpt from a letter sent to shareholders at the end of 2009:
"We understand that many of our newer shareholders are professional traders who buy and sell securities on a short term basis. For those shareholders, we need you to understand that we're not real worried about making you happy. We're not going to issue news releases or make announcements so that you're able to buy and sell our stock to make a quick dollar. We're not a get rich quick scheme. We're interested in developing long term projects, and we hope to obtain long term shareholders (long term means growing with us, but not investing your entire savings into our company). We try to tell it like it is, but even then sometimes we think things will go more quickly than what actually happens (for example, our symbol change to reflect the new company)."
Thanks. That was nice. Wish you wrote ACDU PR's!
Well it is apparently working for them. They keep getting discount shares. Why stop now. I stole some of their shares today tho!
I guess it is a matter of expectations. The company purchased this shell in late 2008. So it has been a little over a year and they have created or aquired interest in companies all over the world, are getting all their financials audited, are getting caught up on SEC filings, and have a good business plan. I think that is a lot of work since it appears they only have a few people working for them.
I never expected them to be making millions yet.
I was actually hoping for a new NOBO list. PR had a kinda $hitty tone to it, but I like that they are committed to the business.
This was posted on another board:
Edgar only takes updates through 10 p.m. Eastern Time. Filings made during the evening (6 p.m. through 10 p.m.) are released the next day at 6:00 a.m.
Nice update on the Envirocare Corp. project. Although this company seems slow, I think the companies initiatives have a good chance of being successfull.
I posted this once before. The Company is required to file NT-10K even if they do not anticipate filing within 15 days:
"Question: Is a company required to file a Form 12b-25 even when it anticipates filing a periodic report after the Rule 12b-25 extension period?
Answer: Yes. Under Rule 12b-25(a), a company must file a Form 12b-25 for a periodic report that is filed after the due date regardless of whether it anticipates filing the periodic report within the extension period. See Exchange Act Release No. 16718 (Apr. 2, 1980). If the company does not anticipate filing the periodic report within the extension period, it should not check the box in Part II of Form 12b-25. [September 30, 2008]"
http://www.sec.gov/divisions/corpfin/guidance/exchangeactrules-interps.htm
That whole paragraph is in past tense. Even the info about the Nicaraguan companies. I think all they are looking for a new "wood processor" factory.
My gut says it is probably bad news. But, according to their NT-10K, they have over 100K accounts receivable. That has to be from Richwood IMO...
I agree with OG. I don't think bad news about Richwood will significantly impact the SP. I think most people currently holding the stock are holding for the same fundamental reasons I am. These are:
1. Completion of audited financials for past 10 years that show ACDU has a good SS and is not diluting and funded by private investment group. Audit will also show private group controls company with non-convertible preferred shares.
2. After audit is complete, ACDU will file registration statements for subs that will be divested. Also, ACDU will start process of being listed on OTCBB after audit.
3. After registration statements are considered effective by SEC, ACDU will release dividend ex-dates and divest subs.
Hopefully we receive some additional unexpected good news along the way. I think the value of ACDU is in the business model and not based on the subsidiaries revenues at this time.
For those who are wondering why it is taking so long for ACDU to spin-off the subs, this is a good article which explains why ACDU needs to file registration statements. ACDU issued a PR last year about this:
http://www.sec.gov/interps/legal/slbcf4.txt
"Question: Is a company required to file a Form 12b-25 even when it anticipates filing a periodic report after the Rule 12b-25 extension period?
Answer: Yes. Under Rule 12b-25(a), a company must file a Form 12b-25 for a periodic report that is filed after the due date regardless of whether it anticipates filing the periodic report within the extension period. See Exchange Act Release No. 16718 (Apr. 2, 1980). If the company does not anticipate filing the periodic report within the extension period, it should not check the box in Part II of Form 12b-25. [September 30, 2008]"
http://www.sec.gov/divisions/corpfin/guidance/exchangeactrules-interps.htm
I'm not sure why they said "over the next two weeks". My email was:
"I support the idea of a shareholders conference. I would be in attendance in person or over the phone."
BTW... 10-Q's are not audited so I am guessing they release the first 2010 10Q before the audited series of 10K's. Should be easier to put together w/o need for audit IMO.
IR Response - Shareholders Conference
Hi XXX:
We are considering the idea of a shareholder conference call or a
financial radio interview. We do not believe something like that would occur over the next two weeks.
Feel free to recommend services to us that would provide accessibility by investors.
Investor Relations
AccreditedBiz
June 29 2010 @ 11:12 AM
I think you are correct 3 announced. They also said this but its a maybe:
Accredited Hospitality Group, Inc., 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 of the interest in the corporation since it will not be majority controlled by IOVE. It may also offer IOVE shareholders to be the first persons authorized to participate in the public offering depending on an opinion from legal counsel.
The remark in the filing about registration statements says "and other entities"
Your "very bullish flag pattern" that you drew looks like an ascending wedge to me...
I think it was just poor wording in the PR. If they had not done anything with 2008 - current, then how would the auditors have identified the concern with documentation of the $ associated with the acquisition of the company. There is a lot of info in a 10K. I would imagine it takes awhile to gather just one year of data.
No. Its the same guy.
They are required to report. They are delinquent. They admit being delinquent. They plan to get caught up.
From PR on 9 Nov -
"IOVE remains under the obligation to file reports with the Securities and Exchange Commission as it is a reporting company. IOVE, during its dormancy, did not file its reports. Since new management took over, IOVE filed delinquent quarterly reports for over ten years outlining a zero dollar balance sheet. Additional reports need to be filed."
"The Company will file appropriate audited annual reports for the delinquent years before or along with its audited annual report for 2009. From that period on, IOVE intends to remain current with its reporting obligations."
The submission of a 10K by 31 March is not self imposed. They are required to submit because they are a reporting company and there is an annual report requirement in the Securities Exchange Act. Deadlines for the submission of a 10K can be found on the first page of a 10K form (http://www.sec.gov/about/forms/form10-k.pdf)
Go to OTCmarkets.com and pull up some dually-quoted securities (I think that tier are all SEC reporting companies) and then check and see how many have submitted their 10K yet... not that many when I just checked. Even if they cannot meet the 31 March deadline, it is not the end of the world. They will file for an extension which will disclose how much longer they need. Most of the extensions I have seen are only 10 - 15 days.
I agree with the rest of your post. I think they are busy and probably inundated with shareholder requests for information. I think that right now they are focusing on getting their business up and running.
ACDU SMA Chart
A Close of .0083 or better would put the 5 day over the 50 day. Something that has not happended since initial run.
http://stockcharts.com/h-sc/ui?s=ACDU&p=D&yr=0&mn=8&dy=10&id=p17584290751&a=193913050
Articles about Richwood Eco. Vent. (REVI) Sub.
Here is some reading material while we wait...
I found these articles about the company REVI owns (rich corporation, SA). I like the part about "annual sales ranging over 400 thousand dollars"
Article 1:
http://archivo.laprensa.com.ni/archivo/2005/septiembre/21/economia/economia-20050921-09.html
Google translation of article 1:
http://translate.google.com/translate?hl=en&sl=es&u=http://archivo.laprensa.com.ni/archivo/2005/septiembre/21/economia/economia-20050921-09.html&ei=xh-gS6LkNoX6NaDVkbYM&sa=X&oi=translate&ct=result&resnum=7&ved=0CCYQ7gEwBg&prev=/search%3Fq%3DAnker%2BStruve%2BTEKNISA%26hl%3Den%26safe%3Doff%26sa%3DG
Article 2:
http://www.elobservadoreconomico.com/articulo/589
Google translation of article 2:
http://translate.google.com/translate?hl=en&sl=es&u=http://www.elobservadoreconomico.com/articulo/589&ei=xh-gS6LkNoX6NaDVkbYM&sa=X&oi=translate&ct=result&resnum=3&ved=0CBQQ7gEwAg&prev=/search%3Fq%3DAnker%2BStruve%2BTEKNISA%26hl%3Den%26safe%3Doff%26sa%3DG
Article 3:
http://www.construccion.com.ni/articulo?idarticulo=124
Google translation of article 3:
http://translate.google.com/translate?hl=en&sl=es&u=http://www.construccion.com.ni/articulo%3Fidarticulo%3D124&ei=ryOgS9D3G5SANqnWybYM&sa=X&oi=translate&ct=result&resnum=10&ved=0CCoQ7gEwCTgU&prev=/search%3Fq%3DAnker%2BStruve%2Brichwood%26start%3D20%26hl%3Den%26safe%3Doff%26sa%3DN
I have TD and my watchlist displays incorrect quotes as mentioned, but if you click on the stock symbol and bring up the stock webpage, the bid and ask are correct. Something is wrong with TD's watchlist.
I sent this email earlier today:
Is Accredited Suppliers Nicaragua, Sociedad Anonima registered with the Nicaragua Ministry of Industry and Commerce?
ACDU Response:
Hi XXXX
The company is presently registered as a society, maintains a tax license with the Direccion General de Ingresos (gives it the ability to charge and collect sales tax), maintains a RUC via persona juridica from DGI, and is registered with the City of Managua to operate.
In due course, additional registrations as needed will occur. The Company may legally operate with the present registrations.
Investor Relations
AccreditedBiz
ACDU records with the state of Pennsylvania have ABC Agents inc listed as registered office.
https://www.corporations.state.pa.us/corp/soskb/Corp.asp?873065
According to ABC Agents web page:
"Pennsylvania requires that all corporations and limited liability companies/partnerships have a commercial registered office provider that is registered with the Secretary of State for Pennsylvania unless you maintain your own office in Pennsylvania for service of process. We are registered with Pennsylvania as a CROP and you may list us as your provider immediately upon submitting payment."
Where did you see Regus at?