Accredited Business Consolidators Corp (fka ACDU)

[Stock_*Explorer]

ACCREDITED BUSINESS CONSOLIDATORS CORP. (OTC: IOVE)
"Up 23.26% on Wednesday"

Detailed Quote: http://www.otcpicks.com/quotes/IOVE.php

Accredited Business Consolidators Corp., formerly known as the Italian Oven, is a diversified holding corporation. Visit www.accreditedbiz.com (under construction) for information on its affiliated companies. The total number of common shares outstanding is 436,399,500. 328,018,200 shares are in the public float and on hand with CEDE & Co., 70,546,600 shares are restricted in certificate form, and 37,834,700 shares are unrestricted but in certificate form. There will be no increase in shares until at least April 2010.

IOVE News:

October 20 - Accredited Business Consolidators Corp. to Divest Richwood Eco Ventures Inc. and to Issue Dividend

Accredited Business Consolidators Corp., trading as Italian Oven, Inc. (OTC: IOVE), issued a resolution to divest the Company's Richwood Eco Ventures Inc. subsidiary.

IOVE will begin the paperwork to obtain a CUSIP for the subsidiary and will subsequently issue a one for one dividend to present shareholders of IOVE. That is, for every share of IOVE, one share of Richwood Eco Ventures would be issued to the IOVE shareholder. The ex date will be set in the next three to six weeks. Richwood Eco Ventures maintains a share structure of 999,999,999 authorized shares.

After the issuance of the dividend and the close of the fiscal year, the Company will take the appropriate action necessary to have the financial statements of Richwood Eco Ventures Inc. audited and to register the securities in question with the Securities and Exchange Commission. Once registered, the Company will attempt to secure a market maker for the registered securities so that a trading symbol may be obtained from FINRA.

This divesture is mutually exclusive from the planned issuance of Accredited Consolidators Europe PLC shares to IOVE common shareholders at the rate of 1 ACE PLC share for every 250 IOVE shares. (There will only be 5,000,000 shares of ACE PLC.)