Accredited Business Consolidators Corp (fka ACDU)

[bluemoonraider]

NT-10Q

Nice update IMO

Accredited Business Consolidators Corp. is unable to file its quarterly report on time because of staffing issues with its staff accountant. The accountant failed to deliver the finalized reports to the Company by November 1, 2010, as was originally scheduled. The accounting consultant cited a claim that his memory chip was stolen when he took his computer in for servicing. In addition, the accountant, while preparing the reports a second time, incorrectly classified stocks we purchased on the public market as subsidiaries rather than stock purchases and is now reformulating the reports. The Company expects to have the unaudited September 30, 2010, report soon and the Company expects to file the report within the time allowed by the extension of time. The Company expects to file 1Q 2009, 2Q 2009, 3Q 2009, 1Q 2010, and 2Q 2010 at the same time or within one week.
The Company has determined that it is necessary to hire another full time accountant and will provide additional supervision over the integrity of the Company's files and proper document retention control. Additionally, the new accountant will be required to use company-owned servers for all work and maintaining the Company's work product.