UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
WASHINGTON DC 20549
FORM 8-K
CURRENT
REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF
1934.
DATE OF REPORT: NOVEMBER 20, 2009 (Date of
earliest event reported)
ACCREDITED BUSINESS CONSOLIDATORS
CORP.
(Exact name of registrant as specified in its charter)
PA
0-27182
25-1624305
(State or other
jurisdiction (Commission
File IRS
Employer
of
incorporation)
Number)
Identification Number)
196 WEST ASHLAND STREET, DOYLESTOWN, PA
18901
(Address of principal executive offices)
267-864-7737
(Registrant's telephone number, including area
code)
NOT APPLICABLE
(Former Name or Former Address, if changed since
last report)
ITEM 3.03 Material Modification to Rights of Security Holders
Accredited Business Consolidators Corp. extended its share issuance
moratorium until June 30, 2010. Management's policy regarding the issuance
of shares is that, until the Company's subsidiaries are fully operational and
reporting, it does not plan to sell shares of IOVE. For this reason, IOVE
entered into the moratorium that prohibits management from approving any
new shares. IOVE previously reduced its authorized common stock to
450,000,000. IOVE has 436,399,500 common shares issued and
outstanding. Of the 436,399,500 common shares of IOVE, 328,018,200
shares are in the public float on hand with the Depositary Trust Corporation.
The remaining shares are on file with the transfer agent, and 70,546,600 are
restricted. These numbers did not change. As IOVE issued no shares, and has no
plan to issue shares, the purchase and sale of its securities are within the
hands of the shareholders and market makers. When investors acquire shares on
the market, they buy them from other shareholders, not from IOVE. IOVE is not
accepting any form of investment that involves shares.
ITEM 7.01 Regulation FD Disclosure
IOVE released information that it received about its list of
shareholders. The list revealed that 62,651,863 are held by objecting
owners. This means we cannot determine who owns the shares. The rest of the
shares are accounted for. There are 1459 shareholders with shares at their
brokerage. There are 853 shareholders with certificates. As of
November 2, 2009, IOVE knows the following statistics as to NOBO shares with the
DTCC: There are no shareholders with more than 11,000,000 common shares; 4
shareholders own more than 5,000,000 shares -- 2 are individuals and 2 appear to
be foreign financial corporations; 17 shareholders owned between 1,000,000 and
5,000,000 shares, of which 14 are individuals, 1 is a bank, 1 is a family trust,
and 1 is a corporation; 85 shareholders own between 500,000 and 1,000,000
shares, 79 are individuals, 2 are stock brokers, 1 is a financial management
company, 2 are banks, and 1 is a pension plan.
All other shareholders own less than 500,000 shares. The shares
were held by the following clearing agents (broker name, number of shareholders,
and number of shares):
QTRADE
ADVISOR
1,50000
RBC DOMINION
SECURITIES.
5,888000
BMO NESBITT BURNS
INC.
1,121500
CIBC WORLD
MARKETS
2,103000
SCOTIACAPITAL
INC.
2,1050000
TD
WATERHOUSE
1,11800
PENSON FINANCIAL SERVICES CANADA INC 4,1179500
FIFTH THIRD
BANK
1,15000
EDWARD
JONES
10,864700
HUNTINGTON BANKS, TRUST DEPARTMENT 1,40000
FIRST CLEARING,
LLC
115,8416000
RIDGE CLEARING &
OUTSOURCING 7,1815000
MERRILL
LYNCH
9,1083300
CHARLES SCHWAB & CO.,
INC. 95,19153646
AMERIPRISE
FINANCIAL
3,154500
TD AMERITRADE CLEARING,
INC 278,68045676
AMERIPRISE
FINANCIAL
13,2134482
UBS FINANCIAL SERVICES
INC. 4,203300
LPL
FINANCIAL
16,915000
PENSON FINANCIAL
SERVICES
136,41171984
RBC CAPITAL MARKETS CORPORATION 15,4984000
SOUTHWEST SECURITIES,
INC. 2,1532500
FIRST SOUTHWEST
COMPANY
1,150000
J.P. MORGAN CLEARING
CORP. 2,110000
USAA BROKERAGE
SERVICES
24,1845144
JANNEY MONTGOMERY SCOTT
LLC 19,951700
CITIGROUP GLOBAL MARKETS, INC.
13,1891300
STEPHENS
INC.
1,10000
PERSHING
LLC
67,11559086
E*TRADE SECURITIES
LLC
159,34397679
ROBERT W. BAIRD & CO.
INC. 4,240000
OPPENHEIMER & CO.
INC.
3,150000
UBS SECURITIES
LLC
1,67000
PRIMEVEST FINANCIAL SERVICES, INC 3,375000
CLEARVIEW CORRESPONDENT SERVICES 2,220000
DAVENPORT & COMPANY
LLC
2,120000
RAYMOND JAMES & ASSOCIATES, INC. 4,283200
MESIROW FINANCIAL
INC.
1,152500
WELLS FARGO INVESTMENTS, LLC
7,1290000
STERNE AGEE & LEACH
INC
1,50000
J.J.B. HILLIARD, W.L. LYONS LLC 24,1805700
MORGAN KEEGAN & CO.,
INC.
2,135000
STIFEL NICOLAUS &
CO.,INC.
4,260000
KEYBANC CAPITAL
MARKETS
1,275000
NATIONAL FINANCIAL SERVICES LLC
111,13461058
SCOTTRADE
INC
262,34264032
SHAREBUILDER SECURITIES CORPORATION 1,2250
BNY
MELLON
2,105000
VANGUARD BROKERAGE
SERVICES 17,7263000
Several shareholders suggested to IOVE that there may be some form of
conspiracy regarding trading activity. IOVE does not believe that there is an
orchestrated attempt to manipulate our stock. Rather, over the counter
securities are often volatile. A single mid-size trader can drastically alter
the price of the stock simply by making an investment decision. IOVE believes
that, in time, and as more information is released, its share price will become
less volatile.
Finally, some investors asked about the symbol change. As we previously
stated, we provided FINRA with the documentation they requested. We hope that
the next contact we have with them is to advise us that our request has been
approved and what our symbol will be. We do not see anything unusual with the
amount of time that passed. If a material development occurs, we will announce
it immediately.
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act
of 1934, the registrant has duly caused this report to be
signed on
its behalf by the undersigned hereunto duly
authorized.
Dated: November 20, 2009
ACCREDITED
BUSINESS CONSOLIDATORS CORP.
By: /s/ Joanna Chmielewska
Joanna
Chmielewska, President
Twitter: accreditedbiz
fax:
1-267-371-5168