Accredited Business Consolidators Corp. Provides General Business Update
June 14 2010 - 2:36AM
Accredited Business Consolidators Corp., (Pink Sheets:ACDU), today
provided a general business update.
The Company continues to restructure its Richwood Eco Ventures
Inc. subsidiary. Acting President Gertzen Perez finished his
term and assisted the Company make various contacts with third
parties for potential joint ventures. Andy William will assume the
role of Acting President until the Company can name a permanent
successor. The Company is focusing on finding a partner that
will be able to make use of the equipment we own. Several
prospective business arrangements are being discussed with multiple
parties that have existing wood processing or timber export
businesses.
Accredited Suppliers Corp. continues to operate its business at
a profit; however, the operation remains small with only one
vehicle on the road and a total of four agents. ASC is relying
on moving forward with its registration statement so that it can
raise additional capital and replicate its present operation on a
larger scale. ASC streamlined its accounting procedures so
that documents are provided in a timely manner to our
bookkeepers. Presently, our Nicaraguan accountant is working
on the financial reports from inception for this
subsidiary.
The Company expects the documents for Accredited RAC, the rental
agency subsidiary, to be accepted this week by the Pennsylvania
Secretary of State. The Company retained Attorney Harold
Montiel from Managua, Nicaragua, to form the Nicaraguan entity.
The Company understands that Costa Rican retail shop, Marilyn
Boutique, will expand to Spain with its second retail shop before
the end of the year. The Company agreed to assist the Costa
Rican company which it owns 25% of. The Company believes that
expansion in Europe, where there is an additional premium on unique
culture-based clothing, will create substantial growth.
The Company received a report from the executives of Soluciones
Faciles, S.A., the Costa Rican enterprise that we own 25%
of. The report indicates that during the experimental stage of
the Company, it was able to receive a return of over 30% per annum
on its loans – even factoring in defaults and costs. As a
result, Soluciones Faciles S.A. must seriously consider whether it
will create a vehicle to raise capital from direct investors to
fund additional loans and expand to several offices or whether it
should continue to grow using house capital.
The Company hopes to provide additional information on other
projects as soon as practicable. Shareholders are advised to
watch the official 8-K filings with the Securities and Exchange
Commission to see when documents are actually filed with state
agencies.
ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.
ACDU is a diversified holding corporation. The total number
of authorized common shares is 450,000,000, and the common share
outstanding is 436,399,566, 329,086,266 shares are in the public
float and on hand with CEDE & Co., 70,546,600 shares are
restricted in certificate form, and 36,766,700 shares are
unrestricted but in certificate form. There was an increase of
66 shares due to a correction to post-split shares at the request
of the DTCC. There will be no increases in shares until at
least December 1, 2010.
This is not an offer to sell securities. Statements made
are forward-looking subject to risks and
uncertainties. Statements included are made as of the date
hereof, and the company undertakes no obligation to update such
statements to reflect subsequent events or circumstances. Actual
results could differ materially from anticipated results.
CONTACT: Accredited Business Consolidators Corp.
Investor Relations
267-864-7737
Fax: 267-371-5168
info@accreditedbiz.com
Twitter: accreditedbiz