ACDU news out... nothing special
Accredited Business Consolidators Corp. to Form Business Development Corporation
Date : 02/09/2010 @ 4:01PM
Source : globe
Stock : Accredited Business Consolidators Corp. (ACDU)
Quote : 0.007 0.0003 (4.48%) @ 3:52PM
Accredited Business Consolidators Corp. to Form Business Development Corporation
DOYLESTOWN, Pa., Feb. 10, 2010
GLOBE NEWSWIRE
Accredited Business Consolidators Corp. (Pink Sheets:ACDU) issued a resolution yesterday that directs its officers to create a Business Development Company. The corporation will be known as Accredited Business Development Company and will elect to be governed by the provisions of section 55 of the Investment Company Act of 1940.
"The purpose of our new subsidiary, which will be able to raise capital on the markets after a registration statement is filed, is to invest in smaller companies that provide unique opportunities to us. The structure of this new enterprise will allow the regulatory flexibility found in the Investment Company Act," Joanna Chmielewska, President of Accredited Business Consolidators Corp., said.
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.
