SOURCE: The Italian Oven, Inc.

October 05, 2009 06:06 ET

The Italian Oven Inc. Submits Documents to Reduce Authorized Common Shares to 450,000,000 and to Change Its Name to Accredited Business Consolidators Corp.

DOYLESTOWN, PA--(Marketwire - October 5, 2009) - The Italian Oven, Inc. (PINKSHEETS: IOVE) today sent the necessary paperwork to the Pennsylvania Secretary of State to reduce the authorized number of common shares to 450,000,000 and to change the company's name to Accredited Business Consolidators Corp. We expect approval within one week.

The total number of common shares outstanding is 436,399,500, and this number will not increase for at least six months from the date the Secretary of State accepts the name change. 328,018,200 shares are free trading, while 70,546,600 shares are restricted in certificate form, and 37,834,700 shares are unrestricted but in certificate form.

Once the name change occurs, IOVE will submit the necessary documents to the Financial Industry Regulatory Authority (FINRA) for a new stock symbol. We will propound the paperwork as soon as possible.

"We're looking forward to the paperwork being out of the way so we can disclose our plans for the future and focus attentively on the businesses that moved in and are moving in to our company," Andy William, Vice President for International Mergers and Acquisitions stated.

ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.

The Italian Oven Inc., soon to be Accredited Business Consolidators Corp., is a diversified holding corporation which will assist its affiliates grow with the intention of releasing the majority to the Company's shareholders upon sufficient development. Visit our website (under construction) at www.theitalianoveninc.com for information on our affiliated companies.

This is not an offer to buy or sell securities. Statements made are forward-looking statements 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 Information

  • Contact:

    Investor Relations
    The Italian Oven, Inc.
    ir@theitalianoveninc.com
    267-864-7737
    Fax: 267-371-5168
    Twitter: italianoven