DOYLESTOWN, Pa., April 16, 2010 (GLOBE NEWSWIRE) -- Accredited Business Consolidators Corp. (Pink Sheets:ACDU) today updated its shareholders pertaining to its share structure.
Over the past five months, shareholders continue to contact the Company with questions about the ownership of common stock and the issuance of shares. The Company has not issued any new common stock and there is a share issuance moratorium until at least September 15, 2010. Prices for the Company's stock are set by the shareholders as they place trades.
The Company compared the NOBO lists of November 25, 2009, and April 9, 2010. It is clear from the review that the volume and price changes occur as a result of professional stock traders. It is also clear that the majority of our shareholders are short term over the counter stock players. The shareholder churn of our stock exceeded 50% over the four month period. Large shareholder groups have been replaced by new large stakeholders.
This is also evident from the number of shareholders sending emails to the Company repeatedly asking it to issue news or information. As previously stated, the Company's policy is to release material information as it develops. The Company will not cater to traders or professional investors who seek volatility and price movement to profit at the expense of our long term investors.
The Company will be taking data from its November 5, 2009, November 25, 2009, and April 9, 2010, NOBO lists and removing privacy information for individual shareholders. The Company will assign pseudonyms to the shareholders and release the information so that the data can be analyzed by the Company's shareholders. The Company expects this to occur over the next several days.
After publishing the report, the Company will focus exclusively on its operations and will not field inquiries about its share price. Company management will not respond to emails about the share price other than to state that it will not materially affect operations.
Accredited Business Consolidators Corp. is a diversified holding corporation. The total number of ACDU common shares outstanding is 436,399,500. 329,086,200 shares are in the public float, 70,546,600 shares are restricted in certificate form, and 36,766,700 shares are unrestricted but in certificate form. There will be no increase in common shares until after September 15, 2010.
This is not an offer to sell securities. Statements made are forward-looking subject to risks and uncertainties. Statements included are made on the date hereof. The company undertakes no obligation to update such statements to reflect subsequent events or circumstances. Results could differ materially from anticipated results. Pay careful attention to all announcements and filings.