October 09, 2009 00:01 ET

Pennsylvania Secretary of State Accepts the Italian Oven's Change of Name to Accredited Business Consolidators Corp.

DOYLESTOWN, PA--(Marketwire - October 9, 2009) - Accredited Business Consolidators Corp., f/k/a the Italian Oven Inc. (PINKSHEETS: IOVE), today announced that the Pennsylvania Secretary of State accepted the Company's amended articles of incorporation. These articles changed the Company's name from the Italian Oven Inc. to Accredited Business Consolidators Corp. In addition, the amended articles reduced the number of authorized shares of common stock to 450,000,000.

Additionally, the Company previously announced a share issuance moratorium for six months from the date of the name change. Therefore, the date of the expiration of the moratorium is April 8, 2010. No common shares of stock shall be issued for any purpose while the moratorium is in effect. No dilution of the Company's stock will occur. The Company has not issued any free trading common shares of stock for over twelve years.

The next step in the transition is to obtain a new CUSIP number and to apply with the Financial Industry Regulatory Authority (FINRA) for a new ticker symbol. Until the new symbol, our shares will continue to trade as IOVE.

Shareholders will not need to do anything as a result of the change. Shareholders with their shares at their broker will automatically receive Accredited Business Consolidators Corp. shares and they will trade under the new symbol when announced.

The total number of common shares outstanding is 436,399,500. 328,018,200 shares are in the public float and on hand with CEDE & Co., 70,546,600 shares are restricted in certificate form, and 37,834,700 shares are unrestricted but in certificate form.

ABOUT ACCREDITED BUSINESS CONSOLIDATORS CORP.

Accredited Business Consolidators Corp., f/k/a the Italian Oven, 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.accreditedbiz.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
    Accredited Business Consolidators Corp.
    ir@accreditedbiz.com
    267-864-7737
    Fax: 267-371-5168
    Twitter: italianoven