MANAGUA, Nicaragua, March 9, 2010 (GLOBE NEWSWIRE) -- Accredited Business Consolidators Corp., (Pink Sheets:ACDU), today announced that its Accredited Suppliers Corp. subsidiary, which distributes automobile parts to small parts stores in Central America, shifted its Nicaraguan operations to a new corporation, Accredited Suppliers Nicaragua, Sociedad Anonima. The Nicaraguan subsidiary is over 97% owned by Accredited Suppliers Corp. The remaining 3% of the company is owned by the local directors of the enterprise.
"This pass through corporation will enable Accredited Suppliers Corp. to legally collect taxes and maintain auditable books in Nicaragua," Andy William, Vice President of Accredited Suppliers Corp. said.
The use of the local subsidiary will not alter the Company's plan to file a registration statement for Accredited Suppliers Corp. and subsequently divest the company for the benefit of its shareholders.
ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.
Accredited Business Consolidators Corp. is a diversified holding corporation. More information about the Company's subsidiaries may be obtained at www.accreditedbiz.com. The total number of authorized ACDU common shares is 450,000,000, and the number of common shares outstanding is 436,399,500. 329,086,200 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 will be no increase in shares until at least August 30, 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.