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
