UNITED
STATES

SECURITIES
AND EXCHANGE COMMISSION

Washington,
D.C. 20549





FORM 
10K/A



|x | AMENDED
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934

For
the fiscal year ended December 31, 2011.
|- | ------------------------------------------------------------------------------------------------------------------------------------------

Commission
file number 0-27182



ACCREDITED
BUSINESS CONSOLIDATORS CORP.

(Exact
name of registrant as specified in its charter)



|PENNSYLVANIA                                                   | 25-1624305                       
|-------------------------------------------------------------- | ---------------------------------
|(State
or other jurisdiction of incorporation or organization) | (IRS
Employer Identification No.)

Accredited Business Consolidators Corp. c/o Accredited
Suppliers Nicaragua S.A. De La Estatua de Montoya 1 Cuadra al
Sur Casa Esquinera Apartado PA-228 Managua
10000 Nicaragua

(Address of principal executive
offices) 1-267-864-7737 or +505-8796-8888 (Registrant's
telephone number, including area code) 196 West
Ashland Doylestown, PA  18901 (Former Name or Former
Address, if changed since last report)



Securities
registered pursuant to Section 12(b) of the Act:   
None

Securities
registered pursuant to Section 12(g) of the Act:   Class:  Common
stock, $.0001 par value

Indicate
by checkmark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act:  (  ) Yes  (X) No.

Indicate
by checkmark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act:  (  ) Yes  (X) No.

Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) or the Securities Exchange Act of 1934 during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for
the past 90 days.    Yes   
o    No   x (The Company was late filing its
Second Quarter 2011 10-Q report because it required to have its EDGAR
password reset).

Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Website, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (s. 232.405 of this
chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files).  ( )
Yes   (X) No.  The Company is unable to convert its filings into
an Interactive Data File and plans on petitioning the Securities and Exchange
Commission for an exemption from this requirement.

Indicate
by check mark if the disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K (s. 229.405 of this chapter) is not contained herein, and will
not be contained, to the best of registrant's knowledge, indefinite proxy or
information statements incorporated by reference in Part III of this Form 10-L
or any amendment to this Form 10-K.    (  ).

Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.  See the definitions of "large accelerated filer," "accelerated
filer," and "smaller reporting company," in Rule 12b-2 of the Exchange
Act.  (  ) Large accelerated filer; ( ) Accelerated
filer; (  ) Non-accelerated filer (do not check if a smaller reporting
company); (X) Smaller reporting company.

Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Act).  ( ) Yes  (X) No.

State
the aggregate market value of the voting and non-voting common equity held by
non-affiliates computed by reference to the price at which the
common equity was last sold, or the average bid and asked price of such
common equity, as of the last business day of the registrant's most
recently completed second quarter:  As of June 30,
2010, considering the price of the common stock being .004 on that
day, the aggregate market value of the common equity was $1,745,598 with
436,399,566 common shares outstanding.

APPLICABLE
ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING
FIVE YEARS:  Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Section 12, 13, or 15(d) of
the Securities Act of 1934 subsequent to the distribution of securities under a
plan confirmed by a court.  ( ) Yes  ()
No.    As of December 31, 2011, there were
436,399,566 shares outstanding of the registrants Common Stock, $.0001 par
value.  Additionally, there were 500,000,000 preferred shares issued and
outstanding.

As
of the date of this filing, there were 436,399,566 common shares
outstanding of the registrant's Common Stock, $.0001 par value.
Additionally, there are 500,000,000 preferred shares issued and
outstanding.   The preferred shares are not registered and are not
convertible into common shares.



---









|PREFACE  FORWARD LOOKING STATEMENTS AND RISK FACTORS | 3                                                                                       
|----------------------------------------------------- | ----------------------------------------------------------------------------------------
|                                                      |                                                                                         
|PART I                                                | 4                                                                                       
|                                                      |                                                                                         
|ITEM
1.                                               | Description
of Business                                                                 
|                                                      |                                                                                         
|ITEM 1A.                                              | Risk
Factors                                                                            
|                                                      |                                                                                         
|ITEM 2                                                | Properties                                                                              
|                                                      |                                                                                         
|ITEM 3                                                | Legal
Proceedings                                                                       
|                                                      |                                                                                         
|ITEM 4                                                | Submission
of Matters to a Vote of Securities Holders                                   
|                                                      |                                                                                         
|PART
II.                                              |                                                                                         
|                                                      |                                                                                         
|ITEM
5.                                               | Market
for Registrant's Common Equity, Related Stockholder Matters, and Issuer
Purchases
|                                                      |                                                                                         
|ITEM 6.      Selected Financial
Data                  | 7                                                                                       
|                                                      |                                                                                         
|ITEM
7.                                               | Management's
Discussion and Analysis of Financial Condition and Results of
Operations   
|                                                      |                                                                                         
|ITEM
8.                                               | Financial
Statements and Supplementary Data                                             
|                                                      |                                                                                         
|ITEM
9.                                               | Changes
in and Disagreements with Accountants or Accounting and Financial
Disclosure    
|                                                      |                                                                                         
|ITEM
9AT                                              | Controls
and Procedures                                                                 
|                                                      |                                                                                         
|ITEM
9B.                                              | Other
Information                                                                       
|                                                      |                                                                                         
|PART
III.                                             |                                                                                         
|ITEM 10.                                              | Directors, Executive Officers, and Corporate Governance                                 
|ITEM 11.         
Executive Compensation              | 8                                                                                       

2









FORWARD LOOKING STATEMENTS AND RISK FACTORS

Certain
statements contained in this Form 10-K filed by Accredited Business
Consolidators Corp. ("Accredited" or "Company") constitute "statements"
within the meaning of Section 27A of the Securities Act of 1933, as amended (the
"Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). These statements, identified by words such as
"will," "may," "expect," "believe," "anticipate," "intend," "could," "should,"
"expect," "estimate," "plan" and similar expressions, relate to or involve the
current views of management with respect to future expectations, objectives and
events and are subject to substantial risks, uncertainties and other factors
beyond management's control that may cause actual results to be materially
different from any such forward-looking statements. Such risks and uncertainties
include those set forth in this document and others made by or on behalf of the
Company in the future, including but not limited to, the Company's limited
operating history, its need for additional capital or financing, its ability or
inability to produce and market products and services, its ability to make a
profit in the future, its dependence on a limited number of customers and key
personnel, its dependence on certain industries, its ability to locate and
consummate business opportunities that would appear to be in the best interests
of the shareholders, its ability to implement strategies to develop its business
in emerging markets, competition from other or similar companies or businesses,
and, general economic conditions. Any forward-looking statements in this
document and any subsequent Company document must be evaluated in light of these
and other important risk factors. The Company does not intend to update any
forward-looking information to reflect actual results or changes in the factors
affecting such forward-looking information.

WARNING:  Accredited
Business Consolidators Corp. and its affiliated enterprises
have minimal assets and are in their developmental stages.  The
previously filed registration statement relating to the Italian Oven restaurants
should not be relied upon as the company has divested itself of all assets
during its 1997 bankruptcy proceeding and has been dormant until 2009. 
Since 2009, and through the present, the Company invested in high risk loans to
affiliated companies with intention that the affiliates can raise funds to begin
their enterprises by registering their securities. Only experienced investors
who understand the risks of purchasing the common stock of a start-up
company with little assets should participate in any trading of our common
stock.

3





PART


ITEM
1  --DESCRIPTION OF BUSINESS

Accredited
Business Consolidators Corp. (the Company or Accredited) was organized in
1990 under the name Fornello U.S.A., Inc. Accredited eventually changed its name
to The Italian Oven, Inc., to reflect its operation of various Italian
restaurants.  However, in October, 1996, Accredited did not have the funds
to sustain itself, and it filed for protection under Chapter 11 of the United
States Bankruptcy Code. Accredited submitted a plan to the bankruptcy court
which divested it of all assets, including intellectual property.  The plan
provided no payment to shareholders; however it did not cancel or extinguish the
common shares of Accredited.  The United States Bankruptcy Court for the
Western District of Pennsylvania approved the bankruptcy plan and on July 17,
1998, Accredited emerged from bankruptcy. From the time Accredited emerged
from bankruptcy until December 31, 2008, the company conducted no
business.  It had no operations and no assets.  Rather, it simply
remained dormant while management sought an opportunity for its
shareholders.  The Company has not had any substantive business operations
from its emergence from bankruptcy until this year.  The Company was
considered a "shell company" as it had no or nominal operations. In 2008, the
Company found an investor, My Pleasure Ltd., of the United Kingdom, to pay
down all debt owed to business consultants and to lead the Company in a new
direction.

When management
attempted to locate business opportunities for the company, it incurred debts
payable to business reconstruction consultants. My Pleasure, Ltd., a corporation
domiciled in the United Kingdom, agreed to provide ACDU with a cash infusion of
$150,000.00 to pay off all of the company's debts in exchange for a controlling
interest in the Company. On October 17, 2008, My Pleasure Ltd. did indeed
provide the cash to the Company which was used to pay off the prior debt and
legal expenses. After the payments occurred, ACDU was completely free of debts
and expenses. My Pleasure Ltd. received 5,000,000 restricted pre-split common
shares which provided it with a majority control over the Company. After the
stock split, these 5,000,000 common shares became 500,000,000 common
shares.  In 2009, My Pleasure Ltd. elected to convert these shares to
preferred shares that are not trading.  During 2009, it did consummate the
conversion.  The preferred shares are equivalent in voting rights to a
common share except that the preferred shares, in totality, will always have at
least 51% of the voting power of the Company. My Pleasure Ltd. is a
foreign entity that is not owned by any United States persons. Because of this,
the Company believes that the transaction was exempt from securities regulations
governing United States investors. Nevertheless, legal counsel for the Company
filed a REGDEX on November 3, 2008, related to the transaction since My Pleasure
was also an accredited investor. The REGDEX does not allow, and will not allow,
the Company to sell the unregistered free trading securities to other accredited
investors. In fact, My Pleasure Ltd. ultimately converted its controlling
interest through common shares to a controlling interest through preferred
shares.

Also
in October 2008, My Pleasure Ltd., as majority shareholder, elected Joanna
Chmielewska as the Company's primary officer. Concurrently, the Company
appointed Action Stock Transfer as its stock transfer agent. Action Stock
Transfer is located at 7069 South Highland Drive, Suite 300, Salt Lake City, UT
84121. Action is registered with the Securities and Exchange Commission as a
stock transfer agent.  As of the end of 2011, My Pleasure Ltd. remains the
controlling shareholder.  Action Stock Transfer remains the Company's stock
transfer agent.

The
Company established a virtual office at 196 West Ashland Street in Doylestown,
Pennsylvania 18901 so that it could receive legal documents and mail. The office
is not a staffed office but is merely a center to receive business
communications. The Company deemed it unnecessary to have a fully staffed office
because most of its business opportunities would be located out of the United
States and would be in diverse regions.

During
2010, the Company primarily operated as a holding company loaning money
to enterprises it helped form and which it will eventually own a stake
in.

Change
in Control and Change in Management

As
explained above, in October 2008, there was a significant and material change in
control and management when the Company issued 5,000,000 restricted common
shares to My Pleasure Ltd. of the United Kingdom. The issuance of these shares
effectively gave majority control to My Pleasure Ltd. My Pleasure Ltd.
effectively controls the Company and, by vote of its shares, controls the
directors and officers of the Company. Also in October 2008, Joanna Chmielewska
was appointed the Company's control officer and director. Ms. Chmielewska is
effectively controlled by the voting shares of My Pleasure Ltd. No person owns
more than 10% of My Pleasure Ltd. However, My Pleasure Ltd. is a private company
and most of its records have not been made available to the public. Investing in
ACDU does not constitute an investment in My Pleasure Ltd. On the contrary, My
Pleasure Ltd. is an investor in ACDU and may be an investor in other companies
not affiliated with ACDU.  As of December 31, 2011, and through the date of
the filing of this report, My Pleasure Ltd. remained the majority owner of the
Company with 53% of its controlling interest.  My Pleasure Ltd. is also the
largest creditor of the Company having provided it the majority of the financing
it received.

Plan
of Operation and Statement of Operations

Subsequent
to the purchase of control by My Pleasure Ltd., the Company changed its scope of
operations. The Company's business model turned into that of a holding company
engaged in locating business opportunities. ACDU would either create the
business themselves, form partnerships or joint ventures with third parties, or
make direct investments into other corporations. Most of the business
opportunities would involve distressed entities or new entities. As a result,
ACDU would be required to help assist the companies locate loans or equity
finance to enhance the potential for success of the ventures. These companies
and ventures may also need to file registration statements with the Securities
and Exchange Commission so that they may seek investment money from the public.
With this business plan in mind, ACDU created certain related
companies as discussed below.  While ACDU will own part, and in some
cases most or all, of the entities below, the Company has not directed a stock
transfer agent of these entities to issue shares to it.  Once the shares
are activated, formal documentation will be filed.

Unfortunately,
2011 did not see our projects reach the stated goals. In 2012, we plan on
advancing our programs more aggressively and through the use of independent
contractors and consultants.

1.
Italian Oven International, Inc. ("IOII"). IOII was formed in January 2009
through a filing with the Pennsylvania Secretary of State to hold investments
into small businesses located outside of the United States. 2011 was an
uneventful year for IOII.

2.
Accredited Business Development Corp. ("ABDC"). ABDC was formed in March 2010 as
a Pennsylvania corporation. ABDC will purchase minority stakes in international
companies that are deemed worthy and which may be positioned for growth. The
Company is in the process of finalizing the necessary documents to raise capital
as a Business Development Corp. under section 55 of the Investment Company Act
of 1940. It is expected that ACDU will maintain control of ABDC even after the
capital raise. Presently, however, ABDC is not conducting business and its
success will be dependent on formulating its filings and locating
investment-worthy international enterprises. 2011 was an uneventful year for
ABDC, but plans continue to move ABDC forward during 2012.

3.
Accredited Consolidators Europe PLC ("ACE"). ACE was formed in the United
Kingdom in November 2009 as a public limited company. ACE will be a holding
corporation similar to ABDC, discussed above. However, it will focus primarily
on projects in Eastern Europe. While it will operate similar to a BDC, the
Company may or may not choose not to register with the Securities and Exchange
Commission and, instead, might only accept foreign investment capital. On
December 31, 2011, the Company entered into a resolution directing that it would
file documentation with the Pennsylvania Secretary of State to domesticate
itself there during the second quarter of 2012. These documents are expected to
be filed in March 2012.

4.
Accredited Hospitality Group Inc. ("AHG"). AHG is a Pennsylvania corporation
formed in November 2009. AHG was formed to develop investments in the
hospitality industry. Presently, AHG's sole contract is to provide management
services with Hiland Terrace Corp., a small hotel in North Huntingdon,
Pennsylvania. The contract does not presently provide revenue to AHG due to
Hiland Terrace's financial position. It is noted that the Hiland Terrace was
sold to Hotels & Stuff, Inc., a Colorado corporation, in December 2011.
Hotels & Stuff will continue its relationship with ACDU. The Company will
advise of further developments in this regard.

5.
Italian Oven Intellectual Property Inc. ("IOIP"). IOIP is a Pennsylvania
corporation formed in January 2009. The purpose of IOIP will be to manage ACDU's
intellectual property and trademarks, whether official or common law. IOIP will
act separately from the parent company and will receive income through licensing
and commissions. While the Company previously reported that IOIP is not expected
to be divested from the parent company and it will most likely never file a
registration statement to raise capital, certain business opportunities were
presented to IOIP during 2011. These opportunities included partial purchase of
a patent for certain technologies that are being infringed upon. If the business
venture is implemented, IOIP could expand beyond its role of retaining the
intellectual property of ACDU.

6.
Italian Oven Travel & Entertainment Corp. ("IOTE"). IOTE is a Pennsylvania
corporation formed in January 2009. The purpose of IOTE is to offer travel and
entertainment related websites. IOTE presently has numerous contracts in place
to sell travel offerings such as cruises, hotels, car rentals, and tour packages
throughout the world. While agreements to offer travel services are in place,
IOTE will need to raise capital to obtain the money to prepare the websites and
booking engines necessary to be successful. 2011 was an uneventful year for
IOTE. However, plans remain to accelerate the opportunities during 2012.

7.
Italian Oven Technologies Inc. ("IOTI"). IOTI is a Pennsylvania corporation
formed in February2009 to engage in the business of distributing electronic
devices to Central America. Initially, the Company teamed up with ACER Computers
as an authorized partner and prepared to import computers into Costa Rica,
Nicaragua, and Honduras. However, the Company determined that the pricing for
purchasing systems in bulk from ACER could not compete with large retailers such
as Circuit City and Amazon.com. While these outlets are not in Central America,
residents of those countries import electronics on their own using services with
mail forwarding from Miami. Recently, IOTI changed its focus to dual-SIM
cellular phones. IOTI began negotiating agreements with several wireless
telephone manufacturers in China and Hong Kong that manufacturer the devices.
IOTI is in the product testing stage to assure that only quality products are
purchased. If the phones being tested pass the tests, the Company will begin
importing these telephones into Central America. The dual-SIM phones are
extremely popular in Central America because most clients use a prepaid SIM. The
prepaid plans provide low cost calling, but only to other phones on the same
network. Therefore, residents of Central America usually carry two cellular
phones, each being on a separate provider. Having a dual SIM phone alleviates
the need for two phones. IOTI will require capital to successfully move forward
with the project. This project did not move forward during 2011. However, plans
were developed for 2012 that including purchasing name-brand telephonic
equipment earmarked for India and importing it to Central America. Specifically,
the Company is looking at certain dual SIM models of LG telephones.

8.
Italian Oven Financial Inc. ("IOF"). IOF is a Pennsylvania corporation formed in
January 2009. IOF's purpose and plan is to offer financial services as a white
label affiliate for unique products that can be provided with fair pricing.
Presently, IOF is exploring a potential partnership to provide a binary options
trading platform to the public. During 2011, negotiations did not continue for
the binary options program. However, IOF is planning to explore the opportunity
with another financial services company that may wish to enter a similar program
during 2012.

9.
Richwood Eco Ventures, Inc. ("REVI"). REVI is a Pennsylvania corporation formed
in 2009. REVI operated a venture whereby it had Richwood Corporacion in
Nicaragua process wood for it which was then sold to enterprises in Europe and
the United States. REVI filled two orders for wood from a company in Andorra and
caused the timber to be delivered; however, it has since been impaired from
operating because of several factors. The first material event was that its
consulting director fell ill and was unable to continue in his capacity. This
left REVI with no experienced officer in the field. Concurrently, creditors of
Rich Forest Management took over the Richwood factory as they claimed to hold a
mortgage thereon. While REVI, through its affiliates, owned approximately
$100,000 in equipment assets, those assets were inside the factory. REVI's
affiliates are presently going through both criminal and civil legal channels to
reacquire possession of its wood processing equipment. Once REVI obtains the
equipment, it will either partner with another wood processing plant or it will
open its own plant. In either case, REVI will need capital and will file an
appropriate registration statement with the Securities and Exchange Commission
so that it can raise money. During 2011, the legal challenges remained
pending.

10.
Telecom Tools Inc. ("TTI"). TTI is a Pennsylvania corporation formed in July
2009. TTI filed a patent for a modification to a popular telecommunications
punch-down tool. Punch-down tools are routinely used when installing wiring for
communications systems and in telephone rooms. The #66 punch-down blade
frequently causes accidental shorting when installers brush the tool against
adjacent connections. This causes digital stations to crash, lockup, or trip
circuit protection, resulting in dropped calls and upset clients. Worse, such
accidental contact sometimes causes permanent damage to equipment. TTI's patent
provides a coating to the tool that will minimize the chances of shorting. The
modification will only cost manufacturers a small amount of money per tool to
add the protection to it. TTI will collect royalties on its patent-pending
process. TTIs patent application remained pending during 2011. The Company
expects a response from the USPTO during 2012. In the interim, the Company plans
on marketing the improvement as a patent pending improvement to tool makers
during 2012.

11.
Industrial Supply Company LLC ("ISC"). ISC is a Florida Limited Liability
Company formed in April 2008. ACDU presently owns 25% of ISC. ISC operates as a
construction consulting and lobbying organization. It does not intend to file a
registration statement or seek capital from investors. It will work closely with
ACDU to develop its consulting enterprises and may help construction companies
obtain financing or obtain modifications to local, state, and federal laws
through its lobbying programs.   Unfortunately, during 2011, our
relationship with ISC remained flat. The executives at ISC failed to pursue
their plans and it is unlikely that they will come into fruition. We continue to
possess our ownership, and we have not yet written off the value of our
investment, but we do not expect the business to advance in a beneficial way to
ACDU. Furthermore, ACDU will not attempt to enforce any rights against ISC or to
force changes in the business model.

12.
Envirocare Corp. ("ECC"). ECC was formed in 2009 by ACDU as an entity that would
sell products such as environmentally friendly cement. The formation of ECC
occurred before the Calichi Sino alliance was created. ACDU will not move
forward with using ECC as a vehicle to sell this type of product because it will
focus primarily on the CSI alliance. Since determining that it could not
continue with the proposed joint venture with Blue World Crete (formerly known
as Green World Crete) because it determined that officers of B/GWC had
convictions in a Medicare fraud scheme. Because of the abandonment of the
project, ECC remained dormant. However, ECC will continue to search for ventures
that will not compete with CSI and that are environmentally friendly. If it
locates an opportunity, it would need to file a registration statement with the
Securities and Exchange Commission to gain the capital it needs.

13.
Accredited Suppliers Corp. ("ASC"). ASC was formed in November 2009 as an entity
that would import auto parts and other supplies to Central America. ASC has been
in operation for nearly two years and is achieving a fair profit; however, the
initial investment into ASC was low so the profits were similarly not
substantial. Therefore, ASC needs to replicate its business model with
additional capital. ASC requires additional capital to implement its business
model and buy additional vehicles and hire staff to deliver parts to enterprises
in rural areas in Nicaragua, Honduras, and Guatemala. Parts carry a premium in
remote areas because most business owners have to travel to the city to buy
items for sale in their stores. Having a delivery service to the areas makes
Accredited a primary supplier for the rural business.

14. 
3-101-532180, S.A., of Costa Rica. 3-101-532180 S.A. operates a mall-based
clothing store in Costa Rica. ACDU owns 25% of 3-101-532180 S.A.  The
Company is expanding to Spain, most likely Madrid or Barcelona, in 2011.
However, the Spain store will be a separate entity. It is expected
that ACDU will own 25% of the Spanish entity that will be formed for this
operation or will participate in a joint venture agreement whereby it controls a
25% interest therein. During 2011, 3-101-532180 did indeed expand to Spain with
a slight direction to the program. The new venture focuses on new age materials.
During 2012, a Pennsylvania entity will be formed to purchase certain loans made
to the new enterprise. It is expected that ACDU will own between 9 and 24% of
the new entity.

15. 
Hiland Terrace Corp.  The Company owns less than 10% of the Hiland Terrace
Corp., a corporation that owned a small motel and office center in
Pennsylvania.  Hiland Terrace Corp. sold the hotel in December 2011 to
Hotels & Stuff, Inc. a Colorado corporation. ACDU will receive shares in
Hotels & Stuff Inc. to compensate it for its percentage of ownership in
Hiland Terrace Corp. It is expected that the new shares will be issued to the
Company during the second quarter of 2012.

16. 
Identifier Inc. ("II"). II was formed in 2010 to earn advertising revenue from
websites. The websites focus on the release of data in a publicly alterable wiki
format. II requires additional capital to implement its business model. During
2011, Identifier Inc. did not have substantial operations to report. However,
during the second quarter of 2012, Identifier Inc. will be hiring a full time
programmer in India to establish their internet sites so that the business model
will move forward. The Company has narrowed its choice between two programming
companies based in India that will supply programming staff for 48 hours per
week.

17. 
Accredited RAC Company ("ARAC"). ARAC is a Pennsylvania corporation formed in
July 2010. ARAC's business plan is to offer car rentals in Central America.
ARAC, while it maintains financing in place to purchase vehicles for rent in
Nicaragua, has chosen to continue its evaluation of the market before beginning
operations. Specifically, prior to moving forward with the vehicle purchase, the
Company needs to be assured that it will be able to make payments during the
initial stages of operations. The Company did not move forward with the ARAC
program during 2011 and, due to its investigation of insurance programs
available in Nicaragua, has decided to restructure the enterprises business
plans prior to proceeding.

18. 
Calichi Sino, Inc. ("CSI"). CSI is a Florida corporation formed in February
2010. ACDU will own between 10 and 20 percent of CSI depending on the final
agreement between the partners. CSI will market environmentally friendly
concrete products. CSI will be a prospective alliance of partners including
ACDU, companies affiliated with Zeobond of Australia, and entities affiliated
with Harricrete Ltd. of Trinidad. In the simplest of terms, the alliance will
purchase or produce Zeobond's patented products and distribute them in areas
that Zeobond does not presently have a market for them. Harricrete, which
presently engages in international distribution of construction materials, will
provide its logistical experience and distribution channels. During 2011 this
project did not move forward through no fault of Zeobond or ACDU officials.
Rather, United States-based intermediaries appeared to be occupied with other
projects and did not move the project forward. The Company believes that the
project remains viable, but without serious implementation of the plans by the
intermediaries in the United States, the project cannot move forward. While the
potential exists to find other partners in the United States and to use Zeobond
as a supplier or via a licensing agreement, ACDUs percentage of ownership in
CSI did not enable it to force the issue through. It is understood that the
intermediaries in the United States allowed CSIs Florida registration to lapse
as well. Therefore, if ACDU chooses to involve itself in this project during
2012 or beyond, it would require additional control over the administration of
the Company including, but not limited to, control of financial accounts and
corporate documents to enable complete oversight and achievement of success and
a direct working relationship with Zeobond so that the enterprise would not
become reliant on the intermediaries or consultants.

19.
SadBro Cinema Inc. (SadBro). SadBro is a Pennsylvania corporation formed
during 2011 that is in the process of filing a registration statement with the
Securities and Exchange Commission. SadBro maintains a licensing agreement to
create, produce, and complete a film preliminarily titled, The Convocation.
The screenplay is completed, but subject to certain editing. Once the
registration statement is filed, ACDU plans on providing support for the
enterprise. Final determinations have not been made as to the extent of ACDUs
involvement in the project, but it is expected that ACDU will own between 9% and
24% of the Company. 20. RSS Marketing Inc. (RSS). RSS is a
Pennsylvania corporation formed in 2009 that has developed business plans for an
internet marketing company based in Nicaragua. RSS will make use, pursuant to a
licensing arrangement, of certain domain names controlled by Domain Management,
Inc., a corporation also affiliated with ACDU. Presently, ACDU does not own any
shares of RSS. However, RSS is in the process of filing a registration statement
with the Securities and Exchange Commission. If approved, ACDU will be in a
position to purchase shares of RSS.

4



ITEM
1A.  Risk Factors.

Smaller
reporting companies are not required to provide risk factor disclosure on their
form 10-K filings.  Nevertheless, Accredited Business Consolidators Corp.
believes that investors and potential investors should view our company as an
extremely high risk and speculative investment.  We have outlined certain
risk factors below but they may not be complete and additional risk factors may
exist:

1.  Our
Business Is Difficult To Evaluate Because We Have No Ongoing Operations and
Minimal Assets. As the Company currently has no ongoing operations
other than to find business ventures and with only minimal assets,
there is a risk that we will be unable to continue as a going concern and
consummate a business combination. We have no significant assets or financial
resources. We will, in all likelihood, sustain operating expenses without
corresponding revenues, at least until the consummation of a business
combination. This may result in our incurring a net operating loss that will
increase continuously until we can consummate a business combination with a
profitable business opportunity. We cannot assure investors that we can identify
a suitable business opportunities and consummate the business
combinations.

2. We
Will Continue To Incur Claims, Liabilities And Expenses. We will
continue to incur claims, liabilities and expenses, which will reduce the
realizable value of our remaining assets and the amount potentially available
for distribution to stockholders. Claims, liabilities and expenses from
operations (such as salaries, directors' and officers' insurance, payroll and
taxes, legal, accounting and consulting fees and miscellaneous office expenses)
will continue to be incurred. These expenses will have to be satisfied from our
remaining assets and, therefore, will reduce the net realizable value of those
assets.    3.  Our Business Will Have
No Revenues Unless We Acquire An Operating Business or Create a Successful Joint
Venture. As of the date hereof, the Company, as defined in Rule 12b-2
under the Exchange Act, is a shell company, defined as a company with no or
nominal assets (other than cash) and no or nominal operations. We currently have
no revenues from operations. We may not realize any revenues unless and until we
successfully acquire an operating business or participate in an active joint
venture.  4.   Because Of The Deficiencies
In Our Past Compliance With Disclosure Rules And The Requirements Of Securities
Laws, We Face Risks Of Liability Under The Securities Laws. 
Although we are presently in compliance with our reporting requirements, we did
not achieve this status until May 2011. While we worked with the Securities and
Exchange Commission to meet certain deadlines they imposed on us, they still
have the right to take action against us. While we have no indication that they
will, in the past we have not filed our annual reports for several years. 
Therefore, we could be named in an administrative, civil or criminal proceeding
by the SEC or another government entity, and we could be named in a civil
proceeding brought by a stockholder or other private entity. There is no
guarantee we would emerge from such a proceeding with the ability to continue as
a going concern. The deficiencies in our compliance which we believe could have
material consequences for us include the following: We note that we failed to
file our reports with the SEC in a timely manner during the second quarter of
2011. This was the result of our inability to upload the reports because the
EDGAR system locked us out. We had to reapply for passcodes from the SEC and,
upon receipt, we promptly filed our report. We note, however, that another late
filing could cause us to be delisted from the Over the Counter Bulletin
Board.  During 2012, we received a communication from the Securities and
Exchange Commission containing staff comments.  These comments are
addressed throughout this report.  The communication resulted in our
Company changing certain accounting methods.  Our responses to the SEC's
staff comments do not foreclose the Commission from taking any action with
respect to the filing.  The SEC's position is that that the Company may not
assert staff comments as a defense in any proceeding initiated by the Commission
or any person under the federal securities laws.

5.  Our
Financial Statements Include A Going Concern Opinion From Our Independent
Auditors.The Company received a going concern opinion on its financial
statements for fiscal year 2011. Our auditors have stated that due to our lack
of assets and operations, there is "substantial doubt" about our ability to
continue as a going concern. The going concern opinion from our auditors may
limit our ability to access certain types of financing, or may prevent us from
obtaining financing.

6.   Future
Success Is Highly Dependent On The Ability Of Management To Locate And Attract A
Suitable Acquisition. The nature of our operations is highly
speculative and there is a consequent risk of loss of your investment. The
success of our  operation will depend to a great extent on the operations,
financial condition and management of the identified business opportunity. While
management intends to seek business combination(s) with entities having
established operating histories, we cannot assure you that we will be successful
in locating candidates meeting that criterion. In the event we complete a
business combination, the success of our operations may be dependent upon
management of the successor firm or venture partner firm, and numerous other
factors beyond our control.

7.   Future
Sales By Existing Security Holders Could Depress the Market Price of Our Common
Stock.  If our existing stockholders sell a large number of
shares of our common stock, the market price could decline significantly. 
Further, even the perception in the public market that our existing stockholders
might sell shares of common stock could depress the market price of the common
stock.

8.  There Are
Risks Associated With Our Stock Trading On The Over the Counter
Bulletin Board Rather Than A National Exchange.  There are
significant consequences associated with our stock trading on the Over the
Counter Bulletin Board market rather than a national exchange including limited
release of the market prices of our securities, limited news coverage,
limited interest by investors in our securities, volatility of our stock price
due to low trading volume, limited ability to issue additional securities
or to secure additional financing, manipulation by traders, and purchase
and sale decisions by market makers.

9.  There
is No Assurance That An Active Public Trading Market Will
Develop:  There has been an extremely limited public trading
market for the Company's common stock.  There can be no
assurances that a public trading market for the common stock will develop
or that a public trading market, if developed, will be sustained.  If for
any reason a public trading market does not develop, purchasers of
the shares of common stock may have difficulty in selling their securities
should they desire to do so.

10.  "Penny
Stock" Regulations May Impose Certain Conditions On The
Marketability Of Our Securities.  The Securities and
Exchange Commission has adopted regulations which generally define "penny
stock" to be an equity security that has a market price of less than $5.00 a
share, subject to certain exceptions.  Our common stock is presently, and
most probably will always be, subject to these regulations which impose
additional sales practice requirements on broker-dealers who sell such
securities to persons other than established customers and accredited
investors (generally those with assets in excess of $1,000,000 or annual income
exceeding $200,000, or $300,000 including their spouse).  For transactions
covered by these rules, the broker-dealer must make a special suitability
determination for the purchase of such securities and have received the
purchaser's written consent to the transaction prior to the purchase. 
Additionally, for any transaction involving a "penny stock," unless exempt, the
rules require the delivery, prior to the transaction, of a risk disclosure
document mandated by the Commission relating to the "penny stock" market. 
The broker-dealer must disclose the commission payable to both the broker-dealer
and the registered representative, current quotations for the securities and, if
the broker-dealer is the sole market maker, the broker-dealer must disclose this
fact and the broker-dealer's presumed control over the market.

There
are other risk factors associated with investing into ACDU that are not outlined
above. For that reason, our Company does not constitute an investment that
persons, other than those with experience in trading Over the Counter
securities, should invest in.

5







ITEM
2.  PROPERTIES

During
the 2011 fiscal year, the Company neither owned nor rented any
properties.

ITEM
3.  LEGAL PROCEEDINGS

During
the 2011 fiscal year, there were no known material legal proceedings involving
the Company.  The Company, through its
affiliates, is participating in litigation to achieve access to
property and industrial equipment belonging to Richwood Eco Ventures Inc. This
litigation continued during 2011.  The property consists of wood processing
equipment, electric power generators, and vehicles. While the Richwood Eco
Ventures matter is not material to the Company to the extent it will affect our
business model of assisting other companies, it is material to our subsidiary,
Richwood Eco Ventures, Inc. Prevailing on the legal actions would greatly assist
in the success of Richwood Eco Ventures. However, there is no certainty in legal
proceedings and the matter is ongoing.

ITEM
4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

During
the 2011 fiscal year, there were no matters submitted to a vote of securities
holders, through the solicitation of proxies, or otherwise. Most of the
Companys activities were conducted through resolutions granted by the majority
consent of My Pleasure Ltd., our majority shareholder.

PART
II

ITEM
5  Market for Registrant's Common Equity, Related Stockholder Matters and
Issuer Purchases of Equity Securities.

Shares
of Accredited Business Consolidators Corp. common stock are traded in the
United States on the Over the Counter Market.  Our shares also trade as an
OTCQB stock on OTC Markets Group Inc.'s electronic pricing
system.  The principal United States market for our common stock
is not an exchange.  As such, the rules of the Securities and Exchange
Commission require us to state the range of high and low bid information for the
equity for each full quarter within the most recent fiscal years and any
subsequent interim period for which financial statements are included, or are
required to be included by Article 3 of Regulation S-X, as regularly quoted in
the automated quotation system or a registered securities association, or where
the equity is not quoted in such a system, the range of reported high and low
bid quotations, and to indicate the source of the quotations.  We are
required to advise that such over-the-counter market quotations reflect
inter-dealer prices, without retail markup, mark-down, or commission and may not
necessarily represent actual transactions.  However, because of
the passage of time, the best information available to the
Company consist of trading information. Therefore, we are providing the
pricing for each day.  The source of our information is the website
pinksheets.com that lists the entire history of the stock's trading
prices.  During 2011, the stock traded using the symbol ACDU.  Prior
to trading as ACDU, the stock traded as IOVE.

The
instructions provided by the Securities and Exchange Commission direct issuers
to provide the data retroactively to any split of the stock.  In 2009, a
100 for 1 forward split occurred.  This split occurred during the 2009
fiscal year.  As the split occurred before 2011, the prices below already
provide full accounting of the split.

During
the times material to this annual report, the Company had approximately 852
shareholders with share certificates.  An additional number of shareholders
maintained shares through the nominee name of Cede & Company, which is the
name for shares held by the Depository Trust and Clearing
Corporation.  The Company believes that approximately 600 persons
held shares under the nominee name at any given time during fiscal year
2008.  As such, the Company estimates that it had between 1200 and 1500
shareholders during the material times.  The number of shareholders changes
as people buy and sell the stock through the electronic quotation systems.

The
Company does not issue any cash dividends at the present time and it does not
anticipate the payment of cash dividends in the future.  There
are not and were not equity compensation plans in place during the fiscal
year 2010. There are no securities to be issued upon the exercise
of outstanding options, warrants and rights.

|date       | Open   | High   | Low    | Close  | Volume  
|---------- | ------ | ------ | ------ | ------ | --------
|1/3/2011   | 0.0048 | 0.005  | 0.0048 | 0.005  | 3872404 
|1/4/2011   | 0.0053 | 0.0053 | 0.004  | 0.004  | 244000  
|1/5/2011   | 0.005  | 0.0051 | 0.004  | 0.0049 | 353300  
|1/6/2011   | 0.0045 | 0.0052 | 0.0042 | 0.0052 | 1184100 
|1/7/2011   | 0.0052 | 0.0055 | 0.0047 | 0.0055 | 671952  
|1/10/2011  | 0.0055 | 0.0055 | 0.0053 | 0.0053 | 77399   
|1/11/2011  | 0.0053 | 0.0053 | 0.0053 | 0.0053 | 0       
|1/12/2011  | 0.0047 | 0.0047 | 0.0044 | 0.0044 | 376198  
|1/13/2011  | 0.0044 | 0.0053 | 0.0037 | 0.0038 | 303550  
|1/14/2011  | 0.004  | 0.004  | 0.0039 | 0.0039 | 175997  
|1/18/2011  | 0.0039 | 0.004  | 0.0039 | 0.004  | 259000  
|1/19/2011  | 0.005  | 0.005  | 0.0045 | 0.0045 | 14997   
|1/20/2011  | 0.0044 | 0.005  | 0.004  | 0.005  | 20900092
|1/21/2011  | 0.0049 | 0.005  | 0.0044 | 0.005  | 213905  
|1/24/2011  | 0.0042 | 0.0042 | 0.0032 | 0.004  | 1254997 
|1/25/2011  | 0.004  | 0.004  | 0.004  | 0.004  | 0       
|1/26/2011  | 0.0032 | 0.0039 | 0.0032 | 0.0039 | 59998   
|1/27/2011  | 0.0032 | 0.0032 | 0.0032 | 0.0032 | 90002   
|1/28/2011  | 0.0038 | 0.0038 | 0.0038 | 0.0038 | 9998    
|1/31/2011  | 0.0038 | 0.004  | 0.0032 | 0.004  | 369500  
|2/1/2011   | 0.0032 | 0.0038 | 0.0026 | 0.0038 | 394997  
|2/2/2011   | 0.0026 | 0.0038 | 0.0026 | 0.0038 | 44997   
|2/3/2011   | 0.0042 | 0.0042 | 0.0042 | 0.0042 | 15000   
|2/4/2011   | 0.0042 | 0.0042 | 0.0042 | 0.0042 | 0       
|2/7/2011   | 0.0039 | 0.0039 | 0.0024 | 0.0024 | 159998  
|2/8/2011   | 0.003  | 0.0039 | 0.003  | 0.0037 | 121700  
|2/9/2011   | 0.0032 | 0.0038 | 0.0032 | 0.0038 | 71316   
|2/10/2011  | 0.0032 | 0.0032 | 0.0023 | 0.0023 | 606500  
|2/11/2011  | 0.0031 | 0.0037 | 0.0031 | 0.0037 | 130000  
|2/14/2011  | 0.0033 | 0.0037 | 0.0032 | 0.0032 | 272641  
|2/15/2011  | 0.0033 | 0.0038 | 0.0033 | 0.0036 | 45659696
|2/16/2011  | 0.0035 | 0.0038 | 0.0034 | 0.0038 | 543475  
|2/17/2011  | 0.0034 | 0.0034 | 0.0034 | 0.0034 | 9999    
|2/18/2011  | 0.0033 | 0.0033 | 0.0033 | 0.0033 | 643000  
|2/22/2011  | 0.0029 | 0.0033 | 0.0028 | 0.0028 | 46999   
|2/23/2011  | 0.0029 | 0.0029 | 0.0029 | 0.0029 | 64998   
|2/24/2011  | 0.0023 | 0.0023 | 0.0022 | 0.0022 | 205000  
|2/25/2011  | 0.0023 | 0.0029 | 0.0017 | 0.0025 | 3727191 
|2/28/2011  | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 89400   
|3/1/2011   | 0.0025 | 0.0029 | 0.0025 | 0.0029 | 80235   
|3/2/2011   | 0.0029 | 0.0029 | 0.0029 | 0.0029 | 0       
|3/3/2011   | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 154999  
|3/4/2011   | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 2156    
|3/7/2011   | 0.0023 | 0.0025 | 0.0023 | 0.0025 | 19992390
|3/8/2011   | 0.0025 | 0.0042 | 0.002  | 0.0022 | 361428  
|3/9/2011   | 0.0022 | 0.0022 | 0.0022 | 0.0022 | 0       
|3/10/2011  | 0.002  | 0.0028 | 0.002  | 0.0028 | 75000   
|3/11/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 0       
|3/14/2011  | 0.0028 | 0.0029 | 0.0028 | 0.0028 | 12300000
|3/15/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 0       
|3/16/2011  | 0.002  | 0.0029 | 0.002  | 0.0029 | 40000   
|3/17/2011  | 0.0029 | 0.0029 | 0.0029 | 0.0029 | 0       
|3/18/2011  | 0.002  | 0.0025 | 0.002  | 0.0025 | 836325  
|3/21/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 26000   
|3/22/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 130525  
|3/23/2011  | 0.0026 | 0.0026 | 0.0025 | 0.0026 | 49480   
|3/24/2011  | 0.0025 | 0.0027 | 0.0019 | 0.0027 | 68200   
|3/25/2011  | 0.0028 | 0.0028 | 0.0019 | 0.0027 | 163930  
|3/28/2011  | 0.0022 | 0.0026 | 0.002  | 0.0026 | 757008  
|3/29/2011  | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 25170   
|3/30/2011  | 0.0024 | 0.0027 | 0.0024 | 0.0027 | 345000  
|3/31/2011  | 0.0022 | 0.0022 | 0.002  | 0.002  | 300000  
|4/1/2011   | 0.0025 | 0.0025 | 0.0021 | 0.0021 | 122000  
|4/4/2011   | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 300000  
|4/5/2011   | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 0       
|4/6/2011   | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 50000   
|4/7/2011   | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|4/8/2011   | 0.0025 | 0.0025 | 0.0023 | 0.0025 | 130305  
|4/11/2011  | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 194000  
|4/12/2011  | 0.0027 | 0.0027 | 0.0021 | 0.0027 | 299609  
|4/13/2011  | 0.0027 | 0.0027 | 0.0027 | 0.0027 | 0       
|4/14/2011  | 0.0021 | 0.003  | 0.0021 | 0.0029 | 1673070 
|4/15/2011  | 0.003  | 0.0035 | 0.003  | 0.003  | 630000  
|4/18/2011  | 0.0029 | 0.0029 | 0.0029 | 0.0029 | 46665   
|4/19/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 1743    
|4/20/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 0       
|4/21/2011  | 0.0028 | 0.0028 | 0.0028 | 0.0028 | 0       
|4/25/2011  | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 1253    
|4/26/2011  | 0.002  | 0.002  | 0.0017 | 0.002  | 594384  
|4/27/2011  | 0.002  | 0.002  | 0.0012 | 0.0019 | 6204370 
|4/28/2011  | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|4/29/2011  | 0.0019 | 0.0019 | 0.0017 | 0.0019 | 278500  
|5/2/2011   | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 709000  
|5/3/2011   | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|5/4/2011   | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|5/5/2011   | 0.0019 | 0.0019 | 0.0013 | 0.0019 | 395000  
|5/6/2011   | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|5/9/2011   | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 338750  
|5/10/2011  | 0.0016 | 0.002  | 0.0013 | 0.0018 | 1271050 
|5/11/2011  | 0.0014 | 0.0017 | 0.0014 | 0.0017 | 629200  
|5/12/2011  | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 227400  
|5/13/2011  | 0.0017 | 0.002  | 0.0017 | 0.002  | 182484  
|5/16/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 3900    
|5/17/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 2500    
|5/18/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|5/19/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|5/20/2011  | 0.0016 | 0.0016 | 0.0015 | 0.0015 | 10000   
|5/23/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|5/24/2011  | 0.0015 | 0.0015 | 0.0013 | 0.0013 | 1005355 
|5/25/2011  | 0.0013 | 0.0019 | 0.0013 | 0.0019 | 25000   
|5/26/2011  | 0.0013 | 0.0018 | 0.001  | 0.0015 | 312306  
|5/27/2011  | 0.0015 | 0.0015 | 0.0011 | 0.0015 | 47000   
|5/31/2011  | 0.0015 | 0.0033 | 0.0015 | 0.0027 | 33995508
|6/1/2011   | 0.003  | 0.0031 | 0.0018 | 0.0026 | 2373720 
|6/2/2011   | 0.0026 | 0.0026 | 0.0026 | 0.0026 | 0       
|6/3/2011   | 0.0026 | 0.0026 | 0.0026 | 0.0026 | 0       
|6/6/2011   | 0.0026 | 0.0026 | 0.0026 | 0.0026 | 0       
|6/7/2011   | 0.0019 | 0.0026 | 0.0016 | 0.0026 | 130912  
|6/8/2011   | 0.0017 | 0.0017 | 0.0015 | 0.0015 | 50000   
|6/9/2011   | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 20000   
|6/10/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 27525   
|6/13/2011  | 0.0026 | 0.0026 | 0.0026 | 0.0026 | 2000    
|6/14/2011  | 0.0026 | 0.0026 | 0.0026 | 0.0026 | 0       
|6/15/2011  | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 1372    
|6/16/2011  | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 0       
|6/17/2011  | 0.0021 | 0.0021 | 0.0016 | 0.0016 | 20000   
|6/20/2011  | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 36000   
|6/21/2011  | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 0       
|6/22/2011  | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 90000   
|6/23/2011  | 0.0017 | 0.0017 | 0.0014 | 0.0014 | 322605  
|6/24/2011  | 0.0014 | 0.0014 | 0.0014 | 0.0014 | 110000  
|6/27/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 8000    
|6/28/2011  | 0.0016 | 0.0018 | 0.0013 | 0.0018 | 506243  
|6/29/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 5000    
|6/30/2011  | 0.0021 | 0.0021 | 0.0017 | 0.0017 | 50000   
|7/1/2011   | 0.0018 | 0.0021 | 0.0014 | 0.0021 | 1167026 
|7/5/2011   | 0.002  | 0.0031 | 0.002  | 0.0031 | 3489766 
|7/6/2011   | 0.0032 | 0.0035 | 0.0028 | 0.0033 | 4501085 
|7/7/2011   | 0.0034 | 0.0034 | 0.0024 | 0.0027 | 1642965 
|7/8/2011   | 0.0027 | 0.004  | 0.0027 | 0.003  | 1350951 
|7/11/2011  | 0.0035 | 0.0035 | 0.003  | 0.003  | 7000    
|7/12/2011  | 0.0025 | 0.0029 | 0.0022 | 0.0029 | 2558718 
|7/13/2011  | 0.0022 | 0.003  | 0.0022 | 0.003  | 57500   
|7/14/2011  | 0.0022 | 0.0022 | 0.0022 | 0.0022 | 725000  
|7/15/2011  | 0.0029 | 0.0038 | 0.0028 | 0.0036 | 8183515 
|7/18/2011  | 0.0036 | 0.0036 | 0.0022 | 0.0025 | 2191000 
|7/19/2011  | 0.0028 | 0.0032 | 0.0023 | 0.0028 | 1053904 
|7/20/2011  | 0.0024 | 0.0025 | 0.0024 | 0.0025 | 205000  
|7/21/2011  | 0.0025 | 0.0025 | 0.0018 | 0.0023 | 744045  
|7/22/2011  | 0.0025 | 0.0025 | 0.0019 | 0.0025 | 154000  
|7/25/2011  | 0.0025 | 0.0025 | 0.0025 | 0.0025 | 14990   
|7/26/2011  | 0.0018 | 0.0025 | 0.0018 | 0.0025 | 155000  
|7/27/2011  | 0.0017 | 0.0025 | 0.0017 | 0.0022 | 780000  
|7/28/2011  | 0.0024 | 0.0024 | 0.0018 | 0.0023 | 45000   
|7/29/2011  | 0.0023 | 0.0023 | 0.0023 | 0.0023 | 0       
|8/1/2011   | 0.0023 | 0.0023 | 0.0023 | 0.0023 | 0       
|8/2/2011   | 0.0018 | 0.0022 | 0.0015 | 0.0021 | 1085010 
|8/3/2011   | 0.0019 | 0.0024 | 0.0018 | 0.0024 | 869000  
|8/4/2011   | 0.0024 | 0.0024 | 0.0024 | 0.0024 | 5000    
|8/5/2011   | 0.0024 | 0.0024 | 0.0024 | 0.0024 | 0       
|8/8/2011   | 0.002  | 0.0046 | 0.002  | 0.0033 | 24144240
|8/9/2011   | 0.0033 | 0.0033 | 0.0021 | 0.0025 | 12789961
|8/10/2011  | 0.0025 | 0.0032 | 0.0021 | 0.0021 | 738300  
|8/11/2011  | 0.0023 | 0.0023 | 0.0021 | 0.0021 | 568202  
|8/12/2011  | 0.0021 | 0.0028 | 0.0017 | 0.0025 | 2818316 
|8/15/2011  | 0.0018 | 0.0019 | 0.0018 | 0.0019 | 305000  
|8/16/2011  | 0.0022 | 0.0022 | 0.0017 | 0.0018 | 512516  
|8/17/2011  | 0.0018 | 0.0019 | 0.0017 | 0.0018 | 375000  
|8/18/2011  | 0.0018 | 0.0018 | 0.0018 | 0.0018 | 0       
|8/19/2011  | 0.0019 | 0.0025 | 0.0017 | 0.0025 | 524000  
|8/22/2011  | 0.0019 | 0.0025 | 0.0019 | 0.002  | 4968299 
|8/23/2011  | 0.002  | 0.002  | 0.0019 | 0.0019 | 260000  
|8/24/2011  | 0.0018 | 0.0019 | 0.0018 | 0.0019 | 100000  
|8/25/2011  | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|8/26/2011  | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|8/29/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 462900  
|8/30/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|8/31/2011  | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|9/1/2011   | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|9/2/2011   | 0.0018 | 0.002  | 0.0017 | 0.0017 | 70000   
|9/6/2011   | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 150000  
|9/7/2011   | 0.0015 | 0.0019 | 0.0015 | 0.0019 | 100000  
|9/8/2011   | 0.0012 | 0.0019 | 0.0012 | 0.0019 | 57000   
|9/9/2011   | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 60000   
|9/12/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 75000   
|9/13/2011  | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 12500   
|9/14/2011  | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 0       
|9/15/2011  | 0.0015 | 0.0025 | 0.0015 | 0.0025 | 8707000 
|9/16/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 1285714 
|9/19/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|9/20/2011  | 0.0013 | 0.0024 | 0.0013 | 0.0024 | 210000  
|9/21/2011  | 0.0015 | 0.0024 | 0.0013 | 0.0024 | 100500  
|9/22/2011  | 0.0019 | 0.0024 | 0.0013 | 0.0022 | 5083000 
|9/23/2011  | 0.0013 | 0.0021 | 0.0013 | 0.0021 | 7500    
|9/26/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|9/27/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 3500000 
|9/28/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|9/29/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|9/30/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|10/3/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|10/4/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 5399    
|10/5/2011  | 0.0021 | 0.0021 | 0.0021 | 0.0021 | 0       
|10/6/2011  | 0.0013 | 0.0013 | 0.0012 | 0.0012 | 94601   
|10/7/2011  | 0.0012 | 0.0022 | 0.0012 | 0.0022 | 260000  
|10/10/2011 | 0.0012 | 0.002  | 0.0012 | 0.002  | 515000  
|10/11/2011 | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|10/12/2011 | 0.002  | 0.002  | 0.002  | 0.002  | 0       
|10/13/2011 | 0.0017 | 0.0021 | 0.0017 | 0.0021 | 6275714 
|10/14/2011 | 0.0018 | 0.0022 | 0.0012 | 0.0022 | 172500  
|10/17/2011 | 0.0022 | 0.0022 | 0.0022 | 0.0022 | 0       
|10/18/2011 | 0.0022 | 0.0022 | 0.0022 | 0.0022 | 0       
|10/19/2011 | 0.0022 | 0.0022 | 0.0022 | 0.0022 | 0       
|10/20/2011 | 0.0013 | 0.002  | 0.0013 | 0.002  | 157500  
|10/21/2011 | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 10000   
|10/24/2011 | 0.0013 | 0.0019 | 0.0013 | 0.0019 | 30000   
|10/25/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 10000   
|10/26/2011 | 0.0018 | 0.0018 | 0.0018 | 0.0018 | 10000   
|10/27/2011 | 0.0015 | 0.0019 | 0.0015 | 0.0019 | 19034286
|10/28/2011 | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|10/31/2011 | 0.0015 | 0.0019 | 0.0015 | 0.0019 | 115000  
|11/1/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 174500  
|11/2/2011  | 0.0015 | 0.0019 | 0.0015 | 0.0015 | 2729700 
|11/3/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/4/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/7/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/8/2011  | 0.0015 | 0.0019 | 0.0015 | 0.0019 | 1219100 
|11/9/2011  | 0.0015 | 0.0019 | 0.0015 | 0.0019 | 40000   
|11/10/2011 | 0.0019 | 0.0019 | 0.0019 | 0.0019 | 0       
|11/11/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 210000  
|11/14/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/15/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/16/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 134983  
|11/17/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 343000  
|11/18/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/21/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/22/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/23/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/25/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/28/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/29/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|11/30/2011 | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|12/1/2011  | 0.0015 | 0.0015 | 0.0015 | 0.0015 | 0       
|12/2/2011  | 0.0013 | 0.0013 | 0.0012 | 0.0012 | 50000   
|12/5/2011  | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 0       
|12/6/2011  | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 341948  
|12/7/2011  | 0.0012 | 0.0017 | 0.0012 | 0.0017 | 76500   
|12/8/2011  | 0.0017 | 0.0017 | 0.0017 | 0.0017 | 0       
|12/9/2011  | 0.0017 | 0.0017 | 0.0017 | 0.0017 | 0       
|12/12/2011 | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 22000   
|12/13/2011 | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 100000  
|12/14/2011 | 0.0013 | 0.0016 | 0.0013 | 0.0016 | 1025000 
|12/15/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 86000   
|12/16/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 0       
|12/19/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 0       
|12/20/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 14000   
|12/21/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 0       
|12/22/2011 | 0.0013 | 0.0013 | 0.0013 | 0.0013 | 0       
|12/23/2011 | 0.0016 | 0.0016 | 0.0016 | 0.0016 | 10000   
|12/27/2011 | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 32500   
|12/28/2011 | 0.001  | 0.0012 | 0.001  | 0.0012 | 148000  
|12/29/2011 | 0.0012 | 0.0012 | 0.0012 | 0.0012 | 0       
|12/30/2011 | 0.001  | 0.0015 | 0.001  | 0.0015 | 115000  



6





ITEM 6.  SELECTED FINANCIAL
DATA

As a smaller reporting company,
we are not required to provide the information required by Item 301 of
Regulation S-K.

ITEM
7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.During
fiscal year 2011, the Company's primary operation involved loaning money to its
close affiliates that its controlling shareholder loaned the
Company.  The intention of the loans are to provide start-up capital to
enable the enterprises to develop a business plan and seek funding through the
filing a registration statement.  Unless the Company can locate
business opportunities that can be funded, it most likely cannot continue as a
going concern.  This means that investors could lose all of their money
that they invested into the stock.

During
2011, the Company's revenue consisted mainly of $163.68 in commissions from its
travel related services and websites.  The Company continues to develop its
businesses and business plans with great uncertainty as to whether any of the
enterprises and proposals will be funded, successful, or gain revenue for the
Company.

We
incurred operating costs and expenses of approximately $27,060 to operate the
Company.  These costs relate to normal business operating costs and
interest owed to our primary stockholder, My Pleasure Ltd., for cash loans that
the entity made to our Company.

We
incurred an unrealized loss of $20,599 by reducing the value of investments we
made into Direct Markets Holding and James Monroe Capital Corp.  Our
reduction in value was based on the market price of the securities as of the
last trading day in December 2011.

At
the end of 2011, we had only $1,469 in cash on hand, a reduction of
approximately $9,500.  Our lack of cash and the possibility that we
may not be able to secure additional cash in the future should be a cause of
concern for investors.

During
2011, we did not raise any capital by selling stock.  Most of our capital
came from loans from My Pleasure Ltd.  While we do not presently have plans
to sell shares to the public, we may consider attempting to raise additional
equity in the future to raise funds for our working capital requirements. 
We will need to raise additional capital, by loan or otherwise, to implement our
business plans that are described herein.

Our
assets consist primarily of ownership of stock in other small companies. 
It is unclear whether our investments and stock ownership will result in
additional cash for the Company.  At the present time, only some of our
investments are liquid.  The shares that do trade are unrestricted. 
This means we may sell the shares on the open market.  However, because
most of the shares that trade do so on the over the counter exchange, any
attempt to rapidly sell the shares could reduce the share price
significantly.

As
to the Company's critical accounting policies, we generally state our financial
position and prepare our accounting in accordance with principles generally
accepted in the United States.  We have attempted to report our financial
position without using estimates and assumptions, but we may occasionally have
to in the future.  In the opinion of management, all adjustments (which
include only normal recurring adjustments) necessary to present fairly the
financial position, income statement, and cash flows of the Company for all
periods have been made. During the relevant period, the company had minimal
operations, a small amount of assets, but incurred substantial debt.

Use
of a Nicaraguan Auditing Firm

Management
chose an auditing firm in Nicaragua based on the fact that none of its officers
are in the United States, one of its officers are in Nicaragua, the Company's
documents and records are kept in Nicaragua, and a portion of the Company's
operations are in Nicaragua.  Management made this decision even though the
Company is a Pennsylvania corporation.   Rule 2-01(a) of Regulation
S-X requires an auditor to be licensed in the jurisdiction where he resides or
maintains an office.  In this case, our auditor is licensed where he
resides, to wit, Nicaragua.  However, the staff of the Securities and
Exchange Commission issued guidance found in Section 5 of International
Reporting and Disclosure Issues in the Division of Corporate Finance that
infers the auditor should be licensed in the jurisdiction where the Company that
is being audited is licensed.  Management believes that, especially in
cases like ours where our ties to the United States are not as strong as most
domestic companies, the SEC's guidance is not consistent with the plain language
and intent of the regulation.  Indeed, applying the SEC's staff's guidance
to our situation would provide an absurd result:  We would have to retain
an auditor located in a jurisdiction where our officers would require a visa to
visit and where we would have to import our business records.  Moreover,
arbitrarily requiring us to use an auditor in the United States may violate
various international trade agreement, infringe upon our rights guaranteed by
the United States Constitution and its amendments, and otherwise constitute a
requirement that is arbitrary, capricious, and contrary to law.   On
September 24, 2012, we received a communication from the staff of the Securities
and Exchange Commission asking for information about our use of a Nicaraguan
auditor and referring us to their guidance.  Upon review of the relevant
information, we respectfully decline to change our decision to use a Nicaraguan
auditor at the present time.

ACS
Topic 946 and the Investment Company Act of 1940

A
review of our financial statements and records reveal that our assets consist
primarily of equities of various other enterprises and loans made to start-up
companies.  We believe that this situation is temporary.  On September
24, 2012, we received a communication from the staff of the Securities and
Exchange Commission.  The SEC's staff asked us to consider whether we are
qualified as an Investment Company within the meaning of Section 3 of the
Investment Act of 1940.   The SEC directed us to review the asset test
found in Section 3(C) of the Act.  After due consideration, we do not
believe we are qualified as an Investment Company.   Indeed, we are
engaged in businesses other than that of investing, owning, holding, or trading
in securities. We provide management consulting services, loans, collect travel
commissions, receive commission on internet advertising, and, as recently
announced, now provide internet hosting and internet domains through our
associates. As stated in our report, most of the entities that we propose being
affiliated with have not yet issued securities except where stated in our
financial statements that we own stock in the entities. Our business
relationship with the companies presently involves our loaning money to them.
Since our commissions related to our other businesses, such as our travel
business and internet advertising services, have so far been de minimus, our
primary activity involves providing loans to the entities we invested in.
Therefore, we also fall under the exception to being an investment company
found in Section 3(c)(4) relating to companies that substantially all of its
business is confined to making small loans or similar businesses. While we note
that it appears that, at the end of the fiscal year 2011, we had more than forty
per centum (40%) of our assets in securities, this situation is temporary. 
As stated in filings that occurred after the end of the fiscal year, we are in
the process of purchasing a 135 acre property in Bluefields, Nicaragua.  If
this acquisition occurs, our stock holdings will fall under forty percentum of
our assets.

In
the letters received in September 2012, the SECs staff also asked us to discuss
the consideration given to whether we are subject to the guidance set forth in
ASC Topic 946 (relating to investment companies) and to explain the basis for
our conclusion. The staff requested that we advise if we believe we expect to be
qualified as an Investment Company in the future and the support for our
conclusion.  ASC Topic 946 relates to investment companies that meet the
specific criteria found in Chapter 946-10-15-2. To qualify as an investment
company, the only substantive activities of the entity are investing in multiple
investments for returns from primary business activity. In our case, our
business activities are broader.  While we do invest in some startup
entities, many which are affiliated with us and which we make clear we have a
conflict of interest in doing so, we also hope to earn income and profit through
the issuance of loans, receipt of management consulting fees, and commissions
and royalties from our advertising, travel services, and other diversified
ventures.  Moreover, as stated above, we are in the process of purchasing
land in Nicaragua which would then become our primary asset.  An investment
company must state that its express business purpose is investing to provide
returns from capital appreciation, investment income, or both.  We have not
stated this to be our express business purpose. Indeed, it is not our express
business purpose.  Our express business purpose is broader as we are a
diversified company exploring many different opportunities.  Chapter
946-10-15-2 requires that an investment company utilize unit ownership which
many of our activities do not comply with. An investment company must also use a
pooling of funds system that many of our investments do not utilize.  We,
as an entity, do not utilize any pooling of funds and we have not used our
status as a public company to raise funds.  In fact, we have not raised
money through share issuances since 1996.  Finally, an investment company
evaluates the performance of its investments utilizing a fair value
system.  We have not engaged in the necessary fair value management to
become an investment company, notwithstanding our writing down the value of
certain investments due to their declining value, we do not have the ability to
determine the fair value of some of the investments we made.  In some
instances, we have no non-public information about the entities and said
entities are non-reporting entities which mean they are not required to made
reports to the SEC or to their shareholders. Therefore, we have no method to
gauge the fair value of the investment and our ultimate returns may not be
based on the value of the entities at all, but rather on the whims of market
speculators since the equities trade over the counter.  Pursuant to the
SECs staff comments, we will attempt to provide a more fair value based on
market price guidance; however, we have no method to engage in a true fair
value management as to these investments that would allow us to be classified
as an investment company.  We do not anticipate that we will be an
investment company under the strict definition found in Chapter 946-10-15-2 in
the near future.  While we are not limiting ourselves to assert that we
will never revisit that statement, it is not something that will occur within
the reasonable future.  On the contrary, we believe that our focus will be
on developing business within ACDU through direct contracts or subsidiaries,
acquiring land, and building an asset base.

Similarly,
the SEC asked us for consideration of how we considered whether or not we
qualified as an Investment Company as defined in Section 3 of the Investment
Company Act of 1940.  Specifically, the SEC pointed to the description of
activities and asset test defined in Section 3(a)(1)(C) of the Act.  We do
not believe we would be qualified as an investment company because of Section
3(b)(1) of the Investment Company Act of 1940. Indeed, we are engaged in
businesses other than that of investing, owning, holding, or trading in
securities. We provide management consulting services, loans, collect travel
commissions, receive commission on internet advertising, and, as recently
announced, now provide internet hosting and internet domains through our
associates.  We are also in the process of purchasing real property in
Nicaragua.  As stated herein, most of the entities that we propose being
affiliated with have not yet issued securities except where stated in our
financial statements that we own stock in the entities. Our business
relationship with the companies presently involves our loaning money to
them.  Since our commissions related to our other businesses, such as our
travel business and internet advertising services, have so far been de minimus,
our primary activity involves providing loans to the entities we provided money
to at a set interest rate.  Therefore, we also fall under the exception to
being an investment company found in Section 3(c)(4) relating to companies
that substantially all of their business is confined to making small loans or
similar businesses.  While we note that it appears that, at the end of the
fiscal year 2011, we had more than forty per centum (40%) of our assets in
securities, this situation is temporary.  Our loan portfolio, non-stock
assets, and real property will most likely exceed the value of the investments
by mid-2013. Furthermore, pursuant to the staffs suggestion, we will note some
of our investments in stock as impaired which will result in a further decrease
in the value of our stock-based assets. Finally, our investment in our own stock
would not be considered towards the forty per centum (40%) figure.

The
SECs staff also inquired about our statement that we are finalizing documents
to raise capital as a business development company as defined by the Investment
Company Act of 1940.  We do not plan to raise capital as a Business
Development Company and we do not purport to be a BDC. However, we are
affiliated with a company, Accredited Business Development Company (ABDC),
which may seek to raise capital as a BDC in the future.  However, ABDC has
not taken the steps necessary to move forward at this time.  ABDCs sole
actions, as of the present date, is that it was formed as a corporation and
acquired a Central Index Key number from the SEC.  It has not sought to
raise capital.  It has neither solicited any person nor received funds from
any person.  ABDC presently maintains no assets and no debt.  In the
event that ABDC prepares the documents to move ahead with its forward looking
goal of raising money as a BDC, it would file the appropriate paperwork with the
SEC and register to do so. Our role with ABDC would be assisting it with
management of the enterprise and possibly as an investor in the Company. 
In the event of a development with respect to the program, we would file
appropriate notifications to our shareholders and make our role clear.

Cash
and Cash Equivalents

We
maintain cash balances at Bank of America and with OptionsXpress, the broker we
use for stock trading.  For the purpose of the balance sheets and other
financial statements, we consider our bank accounts and brokerage account cash
balance as cash.

Fair
Value of Financial Instruments

Prior
to this financial statement, we used the cost basis value as the amount listed
with respect to investments we made in various entities. After receiving
comments from the Securities and Exchange Commission, we performed a nunc pro
tunc review as of December 31, 2011, and revalued certain investments as an
impaired value based on current market price instead of our cost basis.  We
made an adjustment to the balance sheet for the unrealized loss as a result of
the impaired value. Therefore, we reduced the value of our purchase of common
stock in the entity now known as Direct Markets Holdings by $20,499 to reflect
the market value of the securities as of December 31, 2011.  Similarly, we
reduced the value of our purchase of common stock of James Monroe Capital Corp.
by $100.00 to reflect its December 31, 2011, value.  This is noted in the
financial statements as an unrealized loss.

Advertising
and promotion

Our
advertising and promotional costs are identified at the time of payment. We
consider both our communications with shareholders, such as press releases, and
our advertising of products and services to constitute advertising and
promotion. However, our press releases are not offers to buy and sell our
securities. Rather, they are used to aid in the communication with current
shareholders and potential customers.  The statements contained in the
press release constitute forward looking statements.  Certain statements
contained therein and made by Accredited Business Consolidators Corp. ("ACDU" or
"Company") constitute "statements" within the meaning of Section 27A of the
Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These
statements, identified by words such as "will," "may," "expect," "believe,"
"anticipate," "intend," "could," "should," "expect," "estimate," "plan" and
similar expressions, relate to or involve the current views of management with
respect to future expectations, objectives and events and are subject to
substantial risks, uncertainties and other factors beyond management's control
that may cause actual results to be materially different from any such
forward-looking statements. Such risks and uncertainties include those set forth
in this document and others made by or on behalf of the Company in the future,
including but not limited to, the Company's limited operating history, its need
for additional capital or financing, its ability or inability to produce and
market products and services, its ability to make a profit in the future, its
dependence on a limited number of customers and key personnel, its dependence on
certain industries, its ability to locate and consummate business opportunities
that would appear to be in the best interests of the shareholders, its ability
to implement strategies to develop its business in emerging markets, competition
from other or similar companies or businesses, and, general economic conditions.
Any forward-looking statements in this document and any subsequent Company
document must be evaluated in light of these and other important risk factors.
The Company does not intend to update any forward-looking information to reflect
actual results or changes in the factors affecting such forward-looking
information.

Accounts
Receivables and Loan Receivables

In
financial statements prior to the year ending in 2011, we classified certain
loans as accounts receivables.  Beginning with the financial statements
herein that end on December 31, 2011, we reclassify the loans we made as loans
payable.  Starting with the December 31, 2011, financial statements, an
accounts receivable will be a trade receivable owed to us rather than a loan
receivable.

Investments

We
consider an investment to be the issuance of stock, ownership, or equity in an
enterprise in exchange for monetary and other consideration.  We ordinarily
list our actual investment cost as the price we paid for a particular
investment.  While sometimes we receive equity in exchange for a
combination of cash consideration and consulting services, we have not included
a value for the consulting services.  This is because it is difficult to
attribute a value to our services when the equity is not priced.  In these
instances, we would show a gain upon the sale of our equity interest or upon
receipt of a dividend.  In cases where there is a method to attribute a
value to our services rendered in exchange for shares, we would advise of the
value and provide the relevant information in our reports.

Revenue
Recognition

With
respect to revenue, we report the receipt of cash for services, commissions,
etc., at the time we are paid.  With respect to our investment activity, we
record revenue received when we actually sell the stock.

Development
Stage Enterprise

On September
24, 2012, we received commentary from the staff of the Securities and Exchange
Commission suggesting that  we may constitute a development stage company
pursuant to ASC 915-205-20.  We have, therefore, provided additional
information including notification of cumulative expenses since the inception of
the development stage activities.  The Company discloses the deficit
accumulated during the development stage and the cumulative statements of
operations and cash flows from inception of development stage activities to the
current balance sheet data.  In our case, we use July 18, 1998, as the date
of inception as that is the date we emerged from bankruptcy with no assets and
no liabilities. That is also the date we began to be a development stage entity.
To date, the development stage of the Company's operations consist of developing
business plans, business models, and marketing concepts.  The Company is
also engaging in joint ventures to test market certain techniques and internet
based services.  To include pre-bankruptcy data from the 1990s when we
operated as a restaurant holding company would present a distorted picture of
our financial position and development stage operations.

Emerging
Growth Company

Although
not enacted at the end of the fiscal year 2011, Congress passed the Jumpstart
Our Business Startup Act ("JOBS Act") during 2012.  We appear to be an
emerging growth company within the meaning of the JOBS Act.  These
provisions require that we only file two years of audited financial
statements.  This may conflict with the SEC's comments and various
accounting provisions that suggest we file cumulative financial
statements.  We will be analyzing the law and accounting policies in the
future to make a final determination.  Regardless, unless we determine
there are errors in this report or the SEC provides additional comments and
guidance, we do not intend to amend this report to eliminate disclosures even if
they were not required under the JOBS Act.

ITEM
8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

See
the attached Exhibits and Annexes consisting of the financial statements
and notes thereto.

ITEM
9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE

From
1998 through 2008, the Company was dormant.  We did not perform the
necessary audits in a timely manner.  Our prior auditor, Arthur Andersen
LLP, no longer operates and has not operated for several years.  We have
attempted to obtain records from Arthur Andersen's successor, but have not
been successful. Specifically, they ignored written and electronic demands.
 Because of this, and since some of our future business activity would
occur in Nicaragua, in early 2010, we retained Berman W. Martinez y Asociados,
of Managua, Nicaragua.  BWMA is registered with the Public Company
Accounting Oversight Board.  Berman W. Martinez y Asociados remains our
auditor.

There
have been no disagreements with BWMA as to the financial statements and notes
thereto contained herein.

ITEM
9A.  CONTROLS AND PROCEDURES

Evaluation
of disclosure controls and procedures

We
conducted an evaluation, with the participation of our Chief Executive Officer,
of the effectiveness of the design and operation of our disclosure controls and
procedures, as defined in Rules 13a-15(e) under the Exchange Act as of December
31, 2011, to ensure that information required to be disclosed by us in the
reports filed or submitted by us under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Securities and
Exchange Commissions rules and forms, including to ensure that information
required to be disclosed by us in the reports filed or submitted by us under the
Exchange Act is accumulated and communicated to our management, including our
principal executive and principal financial officers, or persons performing
similar functions, as appropriate to allow timely decisions regarding required
disclosure. Based on that evaluation, our Chief Executive Officer has concluded
that as of December 31, 2011, our disclosure controls and procedures were not
effective at the reasonable assurance level.  Specifically, as discussed
herein, the Securities and Exchange Commission pointed out what they believed
were deficiencies in our reporting.  As a result of the SEC's comments, we
modified certain accounting procedures.

Managements
annual report on internal control over financial reporting

Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting to provide reasonable assurance regarding the
reliability of our financial reporting and the preparation of financial
statements for external purposes in accordance with generally accepted
accounting principles. Internal control over financial reporting includes those
policies and procedures that (i) pertain to the maintenance of records that in
reasonable detail accurately and fairly reflect the transactions and
dispositions of the assets of our company; (ii) provide reasonable assurance
that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that
receipts and expenditures of the company are being made only in accordance with
authorizations of our management and directors; and (iii) provide reasonable
assurance regarding prevention or timely detection of unauthorized acquisition,
use or disposition of the companys assets that could have a material effect on
the financial statements.

Management
assessed our internal control over financial reporting as of December 31, 2011.
Management based its assessment on criteria established in Internal
ControlIntegrated Framework issued by the Committee of Sponsoring Organizations
of the Treadway Commission. Managements assessment included evaluation of such
elements as the design and operating effectiveness of key financial reporting
controls, process documentation, accounting policies, and our overall control
environment.

Based
on our assessment, management has concluded that our internal control over
financial reporting was not effective, as of the end of fiscal year 2011,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external reporting purposes in
accordance with generally accepted accounting principles.

We
do note that we filed our second quarterly report in a late manner. This
occurred because we were required to obtain a new EDGAR access code and did not
receive the code on the day we made the application. This was not a result of
problems in our accounting reporting system or internal control system over
financial reporting, but due to an oversight in monitoring the expiration date
of the EDGAR codes. As a result of this incident, we have implemented a program
that requires our accounting consultants to log into the EDGAR system on a
frequent basis.

As
a smaller reporting company, managements report as to controls and procedures
is not subject to attestation by our registered public accounting firm.

We
have not provided our reports using an interactive data file on our
website.  We also failed to submit the reports using interactive data to
the Securities and Exchange Commission.  We intend to seek an exemption
from this requirement as complying would substantially burden our company. 
In fact, without incurring additional debt, we could not pay the $10,000 to
$20,000 it would cost us to comply each year.

We
note that, notwithstanding our determination that our controls and procedures
were not effective, we believe that our financial statements provided herein
present a clear picture of our present financial situation.  We have
identified no fraud and have not made any deliberate material
misstatements.

Our
making modifications to our financial statements does not foreclose the
possibility that the SEC may take action against us.  In fact, we pointedly
stated we disagree with their interpretation of one of the governing
regulations.  The SEC may choose to initiate action against us to litigate
this issue, or any other issue, found within their comments or our filing. 
The SEC's position is that companies generally may not assert that staff
comments are a defense in any proceeding initiated by the Commission under the
federal securities laws of the United States.   As this is a legal
issue, we make no comment as to the merits of their position.

ITEM
9B.  OTHER INFORMATION

On
July 17, 2011, we filed a report on Form 8-K. The report explained
that effective July 15, 2011, our stock began
trading on the Over the Counter Bulletin Board (OTCBB).  Regardless of this
listing, we continue to trade electronically on the OTCQB operated by OTC
Markets, Inc. (formerly Pink Sheets).  We did not request the OTCBB
listing; rather, an independent market maker filed the appropriate forms for us
to be listed.  We received no advanced notice of the listing.  We
believe that we will continue to be timely with our corporate filings and that
we will remain listed on both the OTCBB and the OTCQB
systems.  In the same report, we advised that we received
information from several shareholders that a website calling itself Penny Stock
Rampage claimed that we hired it to conduct stock promotion activities. 
The site asserted that we spent $35,000 in promotional fees.  The claim has
since been removed from the site.  Nevertheless, we want to make it clear
that the Company's policy is not to promote its trading stock.  Nobody
involved with the Company has spoken to the persons claiming to operate as Penny
Stock Rampage and we specifically disavow any claims on the site.  We note
that the site was most likely created by penny stock traders known as "flippers"
who make a profit based on movements in small cap stocks.  We caution
investors that they should not purchase stock based on discussions on public
stock discussion sites or on promotional sites such Penny Stock Rampage. 
Over the counter securities are high risk investments. Neither the Company nor
its affiliates will pay for stock promotion.

Finally,
we notified shareholders that we will be phasing out our mailing addresses in
the United States.  Paper-based mail for the Company should be
sent to the address in the United Kingdom that is shown on our website,
www.accreditedbiz.com . Legal service of process should be made upon ABC Agents,
Inc., our commercial registered office provider with a copy being sent by
ordinary mail to our United Kingdom location. However, despite this advisement,
we continue to maintain both the United Kingdom and the United States
address.

On
March 12, 2011, we filed a report on Form 8-K advising shareholders that, on
February 10, 2011, the Securities and Exchange Commission sent Accredited
Business Consolidators Corp. a letter advising the Company that it failed
to comply with certain reporting responsibilities required by the
Securities Exchange Act of 1934.  The letter directed AccreditedBiz to file
its delinquent reports within fifteen (15) days of the date of the
letter.  The letter stated that, in the event AccreditedBiz fails
to file its delinquent reports, the Securities and Exchange Commission
may choose to initiate proceedings to revoke the Company's registration
and/or issue a trading suspension for the stock. AccreditedBiz advised the
Securities and Exchange Commission that it recognized its responsibility to file
its reports.  The Company explained that it filed audited annual reports
for the periods of 1997 through 2007.  In addition, AccreditedBiz notified
the SEC that its most recent quarterly report was filed and that the report
provided shareholders with an understanding of the Company's financial position
and its business plan. Subsequently, AccreditedBiz received contact from the
Securities and Exchange Commission staff attorney working on the case.  The
staff attorney advised that the SEC informally granted the request for an
extension and marked their database with the proposed dates.  The informal
action does not constitute a no-action determination by the SEC and
they may, in their discretion, take any action if they deem it appropriate. We
ultimately did complete the required filings and, to date, have no information
that suggests that the SEC intends to take action against us.

On
February 14, 2011, we filed a report on Form 8-K explaining that we replaced our
share issuance moratorium with a permanent shareholder rights bylaw. 
Pursuant to the bylaw, the present authorized number of common shares, i.e.,
450,000,000, will remain that maximum number of common shares.  No change
to the authorized number of common shares can take place unless the Company
provides public notice by press release and Securities and Exchange Commission
filing at least sixty (60) days before the change.  The release shall
explain:  (a)  When the authorized number of shares will increase; (b)
The reason the additional shares will be issued; and (c) an explanation as to
how the issuance of additional shares will ultimately increase shareholder
value.  Finally, if the shares are ever increased beyond the 450,000,000
presently authorized, the increase in the authorized shall be to the exact
amount of the proposed issuance of shares. While this new bylaw caps share
issuances without sixty (60) days notice to the shareholders, it does provide
about 13,600,000 shares that that Company could possibly issue without raising
the authorized.  Presently, the Company has no intention or need to issue
those shares.  If the shares are ultimately issued, the Company would issue
an SEC filing stating the reasons for that issuance. The present share structure
of the Company for common shares is:   436,399,566 issued and
outstanding which includes 70,546,600 restricted shares and 365,852,966 free
trading shares.   Of the 365,852,966 free trading
shares, 328,837,743 are in the name of CEDE & Co. and the remaining are
in certificate form on file with the transfer agent. The Company has received
several inquiries from shareholders as to the status of the moratorium along
with suggestions that the Company issued free trading shares into the open
market.  The Company has not authorized any new free trading shares, did
not sell any free trading shares to any accredited investor, and has not issued
an offering allowing for the purchase of free trading shares.  All
present common shares that are issued and outstanding are over ten years old and
originated with the Company's prior offerings.

As
stated throughout this report, during September 2012, we received comments from
the Securities and Exchange Commission that warranted us revising this
report.  Therefore, investors should review this filing carefully.

Subsequent
to the filing of our original report, we determined that we would use our
Nicaraguan location as our primary business address in lieu of the virtual
offices in the United States of America and the United Kingdom that we
utilized.   Our business records and files are located in
Nicaragua.

7



PART
III

ITEM
10.   DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

During
2010, the Company's sole director was Joanna Chmielewska.  She also acted
as the Company's President.  Ms. Chmielewska was born in Poland in
1979 and presently resides in the United Kingdom and elsewhere.  Ms.
Chmielewska has extensive experience managing sales programs and overseeing
large businesses.  Our Vice President is Andy William who currently
resides in Nicaragua and is overseeing our integration into Central
America.

Our
principal shareholder is My Pleasure Ltd., a United Kingdom investment
group.  Joanna Chmielewska is an officer of My Pleasure Ltd. in addition to
being the sole officer here.  It should be clear that this presents a
conflict of interest and that Ms. Chmielewska may take actions that benefit My
Pleasure Ltd.

Audit
Committee and Audit Committee Financial Expert: Our Board of Directors did not
have an Audit Committee other than the Companys officers and it does not have
an Audit Committee Financial Expert.

Compensation
Committee: Our Board of Directors did not have a Compensation
Committee.

Section
16(a) Beneficial Reporting Compliance: Section 16(a) of the Securities Exchange
Act of 1934, as amended, requires the Company's directors and executive
officers, and persons who own more than 10% of a registered class of our equity
securities, to file with the SEC initial reports of ownership and reports of
changes in ownership of common stock and other of our equity securities. These
insiders are required by SEC regulations to furnish us with copies of all
Section 16(a) forms they file, including Forms 3, 4 and 5. There have been no
changes in the ownership of our control shares that we are aware of.

Code
of Ethics: We have not yet adopted a Code of Ethics for our executive
officers. However, current management is aware that a duty exists for the
executive staff to bring value to the shareholders of this Company.

ITEM
11.  EXECUTIVE COMPENSATION

During
fiscal year 2011, our executives did not receive compensation from us. 
Neither Joanna Chmielewska nor Andy William will be collecting a regular
salary until the Company achieves certain goals such as maintaining an
interest in an affiliated company that creates sufficient cash flow to
enable a salary.    No shares, options, or warrants were
issued to officers or directors during the fiscal year.  However, it is
noted that My Pleasure Ltd. purchased control of this Company in October 2008
through the issuance of shares to it.  The Company does not consider this
to be compensation from the Company as My Pleasure Ltd. paid for the
shares.  It is noted that My Pleasure Ltd. is not an officer of the
Company, however, its President, Joanna Chmielewska, is also the President
here.

8



ITEM
12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS

The
following table sets forth as of the date of this report, certain information
with respect to the beneficial ownership of our voting securities by (i) each
person or group owning more than 5% of the Companys securities, (ii) each
director, (iii) each executive officer and (iv) all executive officers and
directors as a group. The information presented in the table is based
on 436,399,566 common shares and 500,000,000 preferred shares with the
same voting rights as the common shares in existence as of December 31,
2011.

|Name and            |  |          |  | Amount and           |  |            | 
|------------------- |  | -------- |  | -------------------- |  | ---------- | 
|Address of          |  | Title of |  | Nature of
Beneficial |  | Percent of | 
|Beneficial Owner(1) |  | Class    |  | Ownership            |  | Class      | 
|                    |  |          |  |                      |  |            | 
|                    |  |          |  |                      |  |            | 

My Pleasure Ltd., controlling shareholder, a United
Kingdomcompany managed by Joanna
Chmielewska,President of
AccreditedBiz                                                                 
Preferred
Stock          500,000,000        
53%All officers, directors,
and control persons as a
group                         Preferred
Stock          500,000,000    
   53%

Except
as otherwise indicated each person has the sole power to vote and dispose of all
shares of common stock listed opposite his name. Each person is deemed to own
beneficially shares of common stock which are issuable upon exercise or warrants
or options or upon conversion of convertible securities if they are exercisable
or convertible within 60 days of the date of this report.



ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR
INDEPENDENCE

Related
Transactions:  During the fiscal year 2011, the Company received
various loans from My Pleasure Ltd.  My Pleasure Ltd. is the controlling
shareholder.  These loans are considered related-party transactions. 
Similarly, the Company made loans to various companies and enterprises. 
Each of these loans is considered a related party transaction because we are
affiliated with the companies that received the funding.  Because of the
affiliation and related party status, we may have overlooked certain facts that
an ordinary lender would consider such as the length of time the business
existed and its revenues.  Because our loans were meant to help the
companies start up, they may be considered extremely high risk
lending. Director Independence:   The Company does
not believe we have any independent directors under the definition of
independent director set forth in the Rules of NASDAQ, Marketplace Rule
4200(a)(15).  We note that we no longer trade on the NASDAQ market and are
presently trading on the over-the-counter market.  As such, we are not
required to comply with NASDAQ Marketplace Rules.

During
2011, Joanna Chmielewska was the sole director of the Company.  Ms.
Chmielewska was also the President of our controlling shareholder, My Pleasure
Ltd.  We do not assert that Ms. Chmielewska was independent within the
meaning of Regulation S-K or any other definition.

9





ITEM
14.  PRINCIPAL ACCOUNTING FEES AND SERVICES

AUDIT FEES:

The
following lists fees billed by Berman W. Martinez y Asociados, current auditors
for the Company, for the years ended December 31, 2011 and 2010.

|                   |  | 2011 |         | 2010 |  
|------------------ |  | ---- | ------- | ---- | -
|Audit
Fees         |  | $    | 2500.00 |      | $
|Audit Related Fees |  |      | -       |      |  
|Tax Fees           |  |      | -       |      |  
|All Other Fees     |  |      | -       |      |  



AUDIT
COMMITTEE APPROVAL POLICIES AND PROCEDURES

Presently,
the board of directors acts as the Company's Audit Committee.  The
present Audit Committee does not have a financial expert serving on its
committee at this time due to the size and nature of the Company. All audit and
non-audit services were obtained after the fiscal year in question,
and were approved by the Audit Committee, which consists of the members of
the board of directors which considers, among other things, the possible effect
of the performance of such services on the auditors' independence. The Audit
Committee approves the annual engagement of the principal independent registered
public accounting firm, including the performance of the annual audit and
quarterly reviews for the subsequent fiscal year, and approves specific
engagements for tax services performed by such firm. The Audit Committee has
also established policies and procedures for certain enumerated audit and audit
related services performed pursuant to the annual engagement agreement,
including services associated with SEC filings approved by the Board of
Directors; review of periodic reports and other documents filed with the SEC or
other documents issued in connection with filings, such as comfort letters and
consents; assistance in responding to any SEC comment letters, if any; and
consultations with such firm as to the accounting or disclosure treatment of
transactions or events and the actual or potential impact of final or proposed
rules, standards or interpretations by the SEC, Public Company Accounting
Oversight Board (PCAOB), Financial Accounting Standards Board (FASB), or other
regulatory or standard-setting bodies. The Audit Committee is informed of each
service performed pursuant to its policies and procedures. The Audit Committee
has considered the role of Berman W. Martinez y Asociados in
providing services to us for the fiscal year ended December 31, 2011 and has
concluded that such services are compatible with such firm's independence.

10





PART
IV

ITEM
15



EXHIBITS,
FINANCIAL STATEMENTS, AND SCHEDULES

See
below for the financial statements and exhibits.  The prior filings with
the Securities and Exchange Commission are discussed above.



ACCREDITED
BUSINESS CONSOLIDATORS CORP.



SIGNATURES



Pursuant
to the requirements of Sections 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.



|                       | Accredited
Business Consolidators Corp.
|---------------------- | ---------------------------------------
|                       |                                        
|Date: January 27,
2013 | /s/ Joanna
Chmielewska                 
|                       | Joanna Chmielewska                     
|                       | President and Chief
Financial Officer  





EXHIBIT



Berman W. Martinez y Asociados

Contadores Publicos
Autorizados



Managua,
January 21, 2013Report of Independent Auditors



To
Members of the Board:ACCREDITED BUSINESS CONSOLIDATORS CORP.

**A
Development Stage Entity**



We
have audited the accompanying amended balance sheetsof
Accredited Business Consolidators Corp.as ofDecember
31, 2011 and December 31, 2010 and the related statements of income, statement
of changes in equity and cash flows for the one year period ended December 31,
2011, the one year period ended December 31, 2010, and the period from July 18,
1998 (emergence from bankruptcy) through December 31, 2011.These financial statements are the
responsibility of the Company's management.Our responsibility is to express an
opinion on these financial statements based on our audits.



We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (PCAOB) in the United States. These standards require
that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the financial statements are presented
without misstatement.



An
audit includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. The procedures selected depend on the
auditor's opinion, including assessment of the risks that this statement
misstatement, whether due to fraud or error. In conducting risk assessments, the
auditor considers internal controls relevant to the preparation and fair
presentation of Accredited Business Consolidators Corp. financial statements, to
design audit procedures that are appropriate in the circumstances, but not with
the purpose of expressing an opinion on the effectiveness of internal controls
of Accredited Business Consolidators Corp. Accordingly, we express no such
opinion as to the effectiveness of the Company's internal controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of accounting
estimates made by management, as well as evaluating the overall presentation of
the financial statements and its explanatory notes.



We
believe that our audits provide a reasonable basis for our opinion.



Our
audit was conducted for the purpose of expressing an opinion on the financial
statements attached. The information presented in the notes are presented for
purposes of additional analysis and is not a required part of the financial
statements, such information has been subjected to the auditing procedures
applied to financial reporting and, in our opinion, presents fairly in all
material respects, in relation to the financial statements taken as a
whole.



In
our opinion the accompanying balance sheets of Accredited Business Consolidators
Corp. as of December 31, 2011, and December 31, 2010, and the related income
statement, statement of changes in equity and cash flows for the one year period
ending December 31, 2011, the one year period ending December 31, 2010, and the
period from July 18, 1998, through December 31, 2011, the summary of significant
accounting policies and other explanatory notes present fairly, in all material
respects, the financial situation of Accredited Business Consolidators Corp., in
accordance with accounting procedures generally accepted in the United
States.



The
financial statements have been prepared assuming the Company will continue as a
going concern. As discussed in the notes to the financial statements, the
Company has minimal assets, substantial debt, and only a small amount of
revenue.It has accumulated a
deficit since beginning its development stage.This raises substantial doubt about its
ability to continue as a going concern.



The
financial statements do not include any adjustments that might result from the
outcome of this uncertainty.

**

*Berman***W.*Martinez
& Asociados*







/s/ Berman
W. Martinez Martinez



Lic.
Berman W. Martínez Martínez

Authorized
Public Accountant



Direccion
Rubenia C28  Telefono [505] 22222198 - 22663124 Fax 22223032 Apartado:
1488   Miembro de la Camara Nicaraguense de Contadores
Publicos y Consultores



---






ACCREDITED
BUSINESS CONSOLIDATORS CORP.
AMENDED
BALANCE SHEETS



As
of December 31      As of December
31                                                           2011  
               
2010     ASSETS: Current
assets:     Cash and Bank
Accounts:                          
    $  
1468.72        
$ 10966.87           Stocks
and
Investments:                         Industrial
Supply Company LLC
(25%)                  
$   2500.00        
$  2500.00     Hiland Terrace Corp. (43639950
common       and 1000000 preferred
shares)                      
4200.00           
4200.00     3-101-53218
S.A. (25%)                                 
2000.00           
2000.00     Southeast Banking Corp. (77634
common)                7763.40           
7763.40     Soluciones Faciles S.A.
(25%)                         5000.00           
5000.00     IAHL Corporation (126012 common
shares)              28507.72          
28507.72     IAHL Corporation (41488 common
shares)                 
 10372.00          
10372.00     James Monroe Capital Cp. (1000000
common)                   (Purchased
at $200. Revalued for
impairment        nunc pro tunc to
December 31 ,
2011)                  
 100.00            
200.00     Diversified Land Management Gp. (4363996
common sh.)   225.00            ---     Averion International Corp. (395.78
preferred sh.)    1601.00            1601.00    
Direct Markets Holdings Corp. (4150 common
sh.)               
(Purchased at $22325.  Revalued for impairmentnunc pro turn to
December 31,
2011)                   
1826.00          
22325.00     Hotels & Stuff
Inc.                                   ---               
---     A Clean Slate Inc. (15300672 common
shares)          ---               
---     Beacon Redevelopment Ind. Cp. (2985199 common
sh.)    ---               
---     Northern California Bancorp. (163 common
shares)        ---               
---
Treasury
Stock:     Accredited Business Consolidators Corp.
(888,681        common
shares)                                      
  5560.77             5560.77 Loan
Receivables:     Industrial Supply Co.
LLC                        
       
2737.59             1527.59    
Richwood Eco Ventures,
Inc.                         
    35612.50            35612.50    
Telecom Tools
Inc.                                   
   
2112.00            
2112.00     Accredited Suppliers
Corp.                            
  
2713.95            
2713.95     Domain Management
Inc.                                 
 
2185.41            
1938.90                
Identifier
Inc.                                        
  
325.11             
 83.09     Italian Oven Financial
Inc.                             
 
137.50              137.50     Italian
Oven Travel & Entertainment
Corp.               
 
137.50             
137.50     Italian Oven
International                               
 137.50              137.50    
Italian Oven Intellectual Property
Corp.                 
 137.50             
137.50     Italian Oven Technologies
Inc.                          
 
137.50             
137.50     Accredited Hospitality Group,
Inc.                     
  
137.50             
137.50     Accredited Consolidators
Europe                        
 
1784.75            
1784.75     Calichi Sino
Inc.                                   
    
1040.00            
1040.00 TOTAL
ASSETS:                                        
     $120460.92         $148,634.54LIABILITIES:     Loans from
shareholders (My Pleasure
Ltd.)        
    $191676.00          $191676.00    
Interest on loans from
shareholders               
     
55037.80           
35870.20                
Loan from Drub Howlety
Inc.                        
      ---                
--- TOTAL
LIABILITIES:                                        
$246713.80         
$227546.20 CAPITAL: Stockholders'
Equity:     Accumulated
deficit                              
    $(255653.88)        $(228911.66)    
Deficit due to unrealized loss from
impaired       value of Direct
Markets Holdings
stock         
     
(20499.00)               
---     Deficit due to unrealized loss from
impaired       value of James Monroe
Capital Corp. stock      
        (100.00)                ---    
Preferred stock, 500,000,000 authorized,
issued       and outstanding to My
Pleasure Ltd., par .0001        
50000.00           
50000.00     Common stock, 450,000,000
authorized,        436,399,566 issued
and outstanding, par .0001         
43640.00     43640.00     Adjustment to shareholder equity
(caused by par       value of previously
issued
stock)                    
(43640.00)          (43640.00)    
Additional paid in capital by My Pleasure
Ltd.          100000.00          
100000.00TOTAL
CAPITAL:                                           $
(126253.00)      $(78912.00)    LIABILITIES AND STOCKHOLDER
EQUITY:                      $ 
120460.92          $148634.54 The
accompanying notes are an integral part of the financial statements.
ACCREDITED
BUSINESS CONSOLIDATORS CORP.
AMENDED
STATEMENTS OF OPERATIONS

From July
18,1998
Year
EndedYear Ended(bankruptcy
exit) December 31, 2011December 31, 2010to
December 31,2011

REVENUE:
Commissions$163.68$54.51$227.26
Dividends.111.892.31
Proceeds
from Sale of Stock Assets102837.02102837.02Other Misc. Income----.14
Interest
on Loans154.41628.404415.56
TOTAL
INCOME:$318.20$103521.82$
107482.29

COST
OF GOODS SOLD:
Cost
of Stock Assets--$123348.34$ 123348.34
COST
OF SALES$123348.34$ 123348.34

BUSINESS
EXPENSES:

Expenses
Related to Investor Activity$--$--$3837.94
Miscellaneous
Organizational Expenses685.69581.4841125.17
Executive
Compensation----200.00
Office
Rent/Virtual Office1261.69843.863510.22
Insurance----109.74
Consulting
Fees264.0060264.00
Legal
Expenses----48800.00
Internet
Services1795.0489.952154.88
Publicity/Advertising--5273.4313892.43
Communications/Telephone305.00657.001767.45
Charitable
Donations500.00500.00
Accounting
Fees2250.002200.004450.00
Commissions
and Misc. Fees571.32820.99
Systems
and Licenses116.94116.94
Travel
Service Subscriptions927.0092.701601.80
Bank
Fees668.401452.173003.29
Interest19167.6019167.6055037.80
TOTAL
EXPENSES:$27060.42$ 31810.45$241192.65
OTHER
ADJUSTMENTS:
Impairment
Charges
Direct Markets Holding$(20499.00)$ (20499.00)
James Monroe Capital Corp.(100.00)--$(100.00)
TOTAL
ADJUSTMENTS:($20599.00)--$ (20599.00)
TOTAL
PROFIT (OR LOSS):($47340.80)($ 51636.97)$(277657.70)

Net
Income (Loss) Per Share:($.000051)($.000055)$.0003)
Number
of Shares Outstanding:936,399,566936,399,566936,399,566


The
accompanying notes are an integral part of these financial
statements.



ACCREDITED
BUSINESS CONSOLIDATORS CORP.
AMENDED
CASH FLOW STATEMENTS



From July 18, 1998,
Year EndedYear Ended(bankruptcy exit) December
31, 2011December 31,
2010to
December 31, 2011

CASH
FLOWS FROM OPERATING ACTIVITIES:

Net
profit (or loss)$ (47341)$( 51637)$ (277657)
Interest
Payable172441887155038
Adjustments
 reconcile net loss to cash--Impairment of
Direct Markets Holdings20499--20499Impairment of James Monroe
Capital100--100
Net
Cash Used in Operating Activities:(26742)(51637)(202020)

Cash
Flows from Investing Activities:
Temporary
Investments  Net--(2439)( 84989)
Purchase
of Treasury Stock----(5560)
Net
Cash Used in Investing Activities:(2439)( 90549)

Cash
Flows from Financing Activities:
Loans
to third party companies--(
47638)
Loans
from Shareholders Payable--25670191676
Issuance
of Common Stock for Cash----150000
__________________________________________________________________________________________________________________________
Total
Cash Flows from Financing1724444541294038

Cash
at the Beginning of Period1096720502--
Cash
at the End of Period1469109671469
Net
Change in Cash(9498)( 9535)1469


ACCREDITED
BUSINESS CONSOLIDATORS CORP.
(A
Development Stage Company)
Statements
of Stockholders Equity (Deficit)
For
the period from July 18, 1999 (bankruptcy emergence), to December 31,
2011

Preferred
StockCommon StockAdditionalDeficit Accumlated
Paid-InDuring the
#
Shares$ Amount# Shares$ AmountCapital $Development Stage $Total
$

Balance,
July 18, 1998
(bankruptcy emergence)----4,382,917--------
Adjustment
for par value43,82943,829
Adjustment
for 18,921
shares in treasury(189)(189)
Adjustment
to shareholder
equity for par value(43,640)(43,640)
__________________________________________________________________________________________________________________________
Balance,
December 31, 1998 4,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 19994,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 20004,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 2001 4,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 2002 4,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 2003 4,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 20044,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 2005 4,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 20064,382,91743,640--(43,640)--
__________________________________________________________________________________________________________________________
Balance,
December 31, 20074,382,91743,640--(43,640)--Issued for cash, 5,000,000common shares $.03/share5,000,00050,000100,000-- Net Loss for Period(150,160)(160)
Balance,
December 31, 20089,382,91793,640100,000(193,640)(160)Cancellation of sharesfor share split(9,382,917)(93,640)------ Issuance of
post-split
common shares 100 for 1 at $.0001 par value 938,291,70093,640-- ----Cancel treasury
shares(1,892,100)(189)-- (189)Reduce
par adjustment189189Exchange Common for Preferred shares500,000,00050,000(500,000,000)(50,000)---- --Net Loss for Period(27,115)(27,115)
__________________________________________________________________________________________________________________________
Balance,
Dec. 31, 2009500,000,00050,000436,399,60043,640100,000(220,755)(27,275)Net Loss for
Period(51,637)(51,637)
__________________________________________________________________________________________________________________________
Balance,
Dec. 31, 2010500,000,00050,000436,399,60043,640100,000(272,392)(78,912)Adjust for derounding(44)Net Loss for Period(47,341)(47,341)__________________________________________________________________________________________________________________________
Balance, Dec. 31, 2011500,000,00050,000436,399,54443,640100,000(319,733)(126,253)____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Cumulative
deficit since July 18, 1999:$.00034/shareEquity per share as of December 31, 2011:(.000135)/sharePar
value per common share:.00010/sharePar value per preferred share:.00010/share
ACCREDITED BUSINESS CONSOLIDATORS CORP. Notes to the
financial statements

Note 1.Summary
of accounting policies.

The financial statements have been prepared in accordance
with accounting principles generally accepted in the United States of America.
In the opinion of management, all adjustments (which include only normal
recurring adjustments) necessary to present fairly the financial position,
income statement, and cash flows of the Company for all periods have been made.
During the relevant period, the company had minimal operations, a small amount
of assets, but incurred substantial debt.

Use of a Nicaraguan Auditing Firm

Management chose an auditing firm in Nicaragua based on the
fact that none of its officers are in the United States, one of its officers are
in Nicaragua, the Company's documents and records are kept in Nicaragua, and a
portion of the Company's operations are in Nicaragua.Management made this decision even
though the Company is a Pennsylvania corporation.Rule 2-01(a) of Regulation S-X
requires an auditor to be licensed in the jurisdiction where he resides or
maintains an office.In this case,
our auditor is licensed where he resides, to wit, Nicaragua.However, the staff of the Securities and
Exchange Commission issued guidance found in Section 5 of International
Reporting and Disclosure Issues in the Division of Corporate Finance that
infers the auditor should be licensed in the jurisdiction where the Company that
is being audited is licensed.Management believes that, especially in cases like ours where our ties to
the United States are not as strong as most domestic companies, the SEC's
guidance is not consistent with the plain language and intent of the
regulation.Indeed, applying the
SEC's staff's guidance to our situation would provide an absurd result:We would have to retain an auditor
located in a jurisdiction where our officers would require a visa to visit and
where we would have to import our business records.Moreover, arbitrarily requiring us to
use an auditor in the United States may violate various international trade
agreement, infringe upon our rights guaranteed by the United States Constitution
and its amendments, and otherwise constitute a requirement that is arbitrary,
capricious, and contrary to law.On September 24, 2012, we received a communication from the staff of the
Securities and Exchange Commission asking for information about our use of a
Nicaraguan auditor and referring us to their guidance.Upon review of the relevant information,
we respectfully decline to change our decision to use a Nicaraguan auditor at
the present time.

ACS Topic 946 and the Investment Company Act of
1940

A
review of our financial statements and records reveal that our assets consist
primarily of equities of various other enterprises and loans made to start-up
companies.We believe that this
situation is temporary.On
September 24, 2012, we received a communication from the staff of the Securities
and Exchange Commission.The SEC's
staff asked us to consider whether we are qualified as an Investment Company
within the meaning of Section 3 of the Investment Act of 1940.The SEC directed us to review the
asset test found in Section 3(C) of the Act.After due consideration, we do not
believe we are qualified as an Investment Company.Indeed, we are engaged in
businesses other than that of investing, owning, holding, or trading in
securities. We provide management consulting services, loans, collect travel
commissions, receive commission on internet advertising, and, as recently
announced, now provide internet hosting and internet domains through our
associates. As stated in our report, most of the entities that we propose being
affiliated with have not yet issued securities except where stated in our
financial statements that we own stock in the entities. Our business
relationship with the companies presently involves our loaning money to them.
Since our commissions related to our other businesses, such as our travel
business and internet advertising services, have so far been de minimus,
our primary activity involves providing loans to the entities we invested in.
Therefore, we also fall under the exception to being an investment company
found in Section 3(c)(4) relating to companies that substantially all of its
business is confined to making small loans or similar businesses. While we note
that it appears that, at the end of the fiscal year 2011, we had more than forty
per centum (40%) of our assets in securities, this situation is temporary.As stated in filings that occurred after
the end of the fiscal year, we are in the process of purchasing a 135 acre
property in Bluefields, Nicaragua.If this acquisition occurs, our stock holdings will fall under forty
percentum of our assets.

In the letters received in September 2012, the
SECs staff also asked us to discuss the consideration given to whether we are
subject to the guidance set forth in ASC Topic 946 (relating to investment
companies) and to explain the basis for our conclusion. The staff requested that
we advise if we believe we expect to be qualified as an Investment Company in
the future and the support for our conclusion.ASC Topic 946 relates to investment
companies that meet the specific criteria found in Chapter 946-10-15-2. To
qualify as an investment company, the only substantive activities of the entity
are investing in multiple investments for returns from primary business
activity. In our case, our business activities are broader.While we do invest in some startup
entities, many which are affiliated with us and which we make clear we have a
conflict of interest in doing so, we also hope to earn income and profit through
the issuance of loans, receipt of management consulting fees, and commissions
and royalties from our advertising, travel services, and other diversified
ventures.Moreover, as stated
above, we are in the process of purchasing land in Nicaragua which would then
become our primary asset.An
investment company must state that its express business purpose is investing to
provide returns from capital appreciation, investment income, or both.We have not stated this to be our
express business purpose. Indeed, it is not our express business purpose.Our express business purpose is broader
as we are a diversified company exploring many different opportunities.Chapter 946-10-15-2 requires that an
investment company utilize unit ownership which many of our activities do not
comply with. An investment company must also use a pooling of funds system
that many of our investments do not utilize.We, as an entity, do not utilize any
pooling of funds and we have not used our status as a public company to raise
funds.In fact, we have not raised
money through share issuances since 1996.Finally, an investment company evaluates the performance of its
investments utilizing a fair value system.We have not engaged in the necessary
fair value management to become an investment company, notwithstanding our
writing down the value of certain investments due to their declining value, we
do not have the ability to determine the fair value of some of the investments
we made.In some instances, we have
no non-public information about the entities and said entities are non-reporting
entities which mean they are not required to made reports to the SEC or to their
shareholders. Therefore, we have no method to gauge the fair value of the
investment and our ultimate returns may not be based on the value of the
entities at all, but rather on the whims of market speculators since the
equities trade over the counter.Pursuant to the SECs staff comments, we will attempt to provide a more
fair value based on market price guidance; however, we have no method to engage
in a true fair value management as to these investments that would allow us to
be classified as an investment company.We do not anticipate that we will be an investment company under the
strict definition found in Chapter 946-10-15-2 in the near future. While we are not limiting ourselves to
assert that we will never revisit that statement, it is not something that will
occur within the reasonable future.On the contrary, we believe that our focus will be on developing business
within ACDU through direct contracts or subsidiaries, acquiring land, and
building an asset base.

Similarly, the SEC asked us for consideration of how
we considered whether or not we qualified as an Investment Company as defined in
Section 3 of the Investment Company Act of 1940.Specifically, the SEC pointed to the
description of activities and asset test defined in Section 3(a)(1)(C) of the
Act.We do not believe we would be
qualified as an investment company because of Section 3(b)(1) of the
Investment Company Act of 1940. Indeed, we are engaged in businesses other than
that of investing, owning, holding, or trading in securities. We provide
management consulting services, loans, collect travel commissions, receive
commission on internet advertising, and, as recently announced, now provide
internet hosting and internet domains through our associates.We are also in the process of purchasing
real property in Nicaragua.As
stated herein, most of the entities that we propose being affiliated with have
not yet issued securities except where stated in our financial statements that
we own stock in the entities. Our business relationship with the companies
presently involves our loaning money to them.Since our commissions related to our
other businesses, such as our travel business and internet advertising services,
have so far been de minimus, our primary activity involves providing
loans to the entities we provided money to at a set interest rate.Therefore, we also fall under the
exception to being an investment company found in Section 3(c)(4) relating to
companies that substantially all of their business is confined to making small
loans or similar businesses.While
we note that it appears that, at the end of the fiscal year 2011, we had more
than forty per centum (40%) of our assets in securities, this situation is
temporary.Our loan portfolio,
non-stock assets, and real property will most likely exceed the value of the
investments by mid-2013. Furthermore, pursuant to the staffs suggestion, we
will note some of our investments in stock as impaired which will result in a
further decrease in the value of our stock-based assets. Finally, our investment
in our own stock would not be considered towards the forty per centum (40%)
figure.

The SECs staff also inquired about our statement that
we are finalizing documents to raise capital as a business development company
as defined by the Investment Company Act of 1940.We do not plan to raise capital as a
Business Development Company and we do not purport to be a BDC. However, we are
affiliated with a company, Accredited Business Development Company (ABDC),
which may seek to raise capital as a BDC in the future.However, ABDC has not taken the steps
necessary to move forward at this time.ABDCs sole actions, as of the present date, is that it was formed as a
corporation and acquired a Central Index Key number from the SEC.It has not sought to raise capital.It has neither solicited any person nor
received funds from any person.ABDC presently maintains no assets and no debt.In the event that ABDC prepares the
documents to move ahead with its forward looking goal of raising money as a BDC,
it would file the appropriate paperwork with the SEC and register to do so. Our
role with ABDC would be assisting it with management of the enterprise and
possibly as an investor in the Company.In the event of a development with respect to the program, we would file
appropriate notifications to our shareholders and make our role clear.

Cash and Cash Equivalents
We maintain cash balances
at Bank of America and with OptionsXpress, the broker we use for stock
trading.For the purpose of the
balance sheets and other financial statements, we consider our bank accounts and
brokerage account cash balance as cash.

Fair Value of Financial Instruments
Prior to this financial
statement, we used the cost basis value as the amount listed with respect to
investments we made in various entities. After receiving comments from the
Securities and Exchange Commission, we performed a nunc pro tunc review
as of December 31, 2011, and revalued certain investments as an impaired value
based on current market price instead of our cost basis.We made an adjustment to the balance
sheet for the unrealized loss as a result of the impaired value. Therefore, we
reduced the value of our purchase of common stock in the entity now known as
Direct Markets Holdings by $20,499 to reflect the market value of the securities
as of December 31, 2011.Similarly,
we reduced the value of our purchase of common stock of James Monroe Capital
Corp. by $100.00 to reflect its December 31, 2011, value.This is noted in the financial
statements as an unrealized loss.
Advertising and promotion
Our advertising and
promotional costs are identified at the time of payment. We consider both our
communications with shareholders, such as press releases, and our advertising of
products and services to constitute advertising and promotion. However, our
press releases are not offers to buy and sell our securities. Rather, they are
used to aid in the communication with current shareholders and potential
customers.  The statements contained in the press release constitute
forward looking statements.Certain
statements contained therein and made by Accredited Business Consolidators Corp.
("ACDU" or "Company") constitute "statements" within the meaning of Section 27A
of the Securities Act of 1933, as amended (the "Securities Act"), and Section
21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
These statements, identified by words such as "will," "may," "expect,"
"believe," "anticipate," "intend," "could," "should," "expect," "estimate,"
"plan" and similar expressions, relate to or involve the current views of
management with respect to future expectations, objectives and events and are
subject to substantial risks, uncertainties and other factors beyond
management's control that may cause actual results to be materially different
from any such forward-looking statements. Such risks and uncertainties include
those set forth in this document and others made by or on behalf of the Company
in the future, including but not limited to, the Company's limited operating
history, its need for additional capital or financing, its ability or inability
to produce and market products and services, its ability to make a profit in the
future, its dependence on a limited number of customers and key personnel, its
dependence on certain industries, its ability to locate and consummate business
opportunities that would appear to be in the best interests of the shareholders,
its ability to implement strategies to develop its business in emerging markets,
competition from other or similar companies or businesses, and, general economic
conditions. Any forward-looking statements in this document and any subsequent
Company document must be evaluated in light of these and other important risk
factors. The Company does not intend to update any forward-looking information
to reflect actual results or changes in the factors affecting such
forward-looking information.

Accounts Receivables and
Loan Receivables

In financial statements
prior to the year ending in 2011, we classified certain loans as accounts
receivables.Beginning with the
financial statements herein that end on December 31, 2011, we reclassify the
loans we made as loans payable.Starting with the December 31, 2011, financial statements, an accounts
receivable will be a trade receivable owed to us rather than a loan
receivable.

Investments

We consider an investment
to be the issuance of stock, ownership, or equity in an enterprise in exchange
for monetary and other consideration.We ordinarily list our actual investment cost as the price we paid for a
particular investment.While
sometimes we receive equity in exchange for a combination of cash consideration
and consulting services, we have not included a value for the consulting
services.This is because it is
difficult to attribute a value to our services when the equity is not
priced.In these instances, we
would show a gain upon the sale of our equity interest or upon receipt of a
dividend.In cases where there is a
method to attribute a value to our services rendered in exchange for shares, we
would advise of the value and provide the relevant information in our
reports.

Revenue
Recognition

With respect to revenue, we
report the receipt of cash for services, commissions, etc., at the time we are
paid.With respect to our
investment activity, we record revenue received when we actually sell the
stock.

Development Stage
Enterprise

On September 24,
2012, we received commentary from the staff of the Securities and Exchange
Commission suggesting thatwe may
constitute a development stage company pursuant to ASC 915-205-20.We have, therefore, provided additional
information including notification of cumulative expenses since the inception of
the development stage activities.The Company discloses the deficit accumulated during the development
stage and the cumulative statements of operations and cash flows from inception
of development stage activities to the current balance sheet data.In our case, we use July 18, 1998, as
the date of inception as that is the date we emerged from bankruptcy with no
assets and no liabilities. That is also the date we began to be a development
stage entity. To date, the development stage of the Company's operations consist
of developing business plans, business models, and marketing concepts.The Company is also engaging in joint
ventures to test market certain techniques and internet based services.To include pre-bankruptcy data from the
1990s when we operated as a restaurant holding company would present a distorted
picture of our financial position and development stage operations.

1.1.Organization
and business.

Accredited Business Consolidators Corp. (the "Company" or
"accredited") was organized in 1990 under the name Fornello USA, Inc. Accredited
changed its name to The Italian Oven, Inc., to reflect the operation of various
Italian restaurants. However, in October 1996, the company had no funds to
sustain itself, and filed for protection under Chapter 11 of Federal Bankruptcy
Code, presented a plan with the Bankruptcy Court, which is stripped of all
assets, including intellectual property, the plan provided no payment to
shareholders, but did not cancel or terminate the common shares of the company.
The Bankruptcy Court of the United States for the Western District of
Pennsylvania approved the bankruptcy plan and on July 17, 1998, the company
emerged from bankruptcy.

After the company emerged from bankruptcy, and until December
31, 2007, the company did not conduct any business. It had no operations or
assets. Instead, it simply remained dormant while the administration sought an
opportunity for its shareholders. The Company has no restaurants and is not
affiliated with the restaurants that bear his name.

In late 2008, My Pleasure Ltd. bought the controlling
interest of the Company with the intent to locate business opportunities.Since then, the Company has been
investing in small start-up enterprises and loaning them money to begin their
operations.

1.2.Basis
of presentation and ongoing concern

Certain information and disclosures in the notes are included
in financial statements prepared in accordance with accounting principles
generally accepted in the United States have been condensed or omitted. The
results of operations for the current year are not necessarily indicative of
operating results expected for any subsequent fiscal year.

The financial statements of the Company have been prepared
assuming the Company will continue as a going concern. However, the company has
minimal assets and insufficient working capital. These conditions, among others,
give rise to serious doubts about the ability of the company to continue as a
going concern. There is no guarantee that the measures taken by the management
will meet all the needs of the company to continue as a going concern. The
accompanying financial statements do not include any adjustments that might
result from the outcome of this uncertainty.




1.3.Management
estimates

The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts income and expenses during the reporting
period. Actual results could differ from those estimates.

Note 2.Related
party transactions.

Since late 2008 when the majority ownership of the Company
was acquired by My Pleasure Limited of the United Kingdom, the majority of
Accrediteds funding came from My Pleasure Ltd.This funding is considered a related
party transaction.Similarly, with
respect to the loans made by Accredited during 2011, the funds were made to
affiliates of the Company and are considered related party transactions.These transactions create additional
risk as the loans made and received may not meet normal business standards and
due diligence.

Note 3.Commitments
and contingencies.

At December 31, 2011, the Company is not subject to
contingencies or commitments or obligations under lease commitments.

Note 4.Going
concern.

At December 31, 2011, the Company had insufficient working
capital. As such, the accompanying financial statements have been prepared
assuming the Company will continue as a going concern. The company does not have
sufficient working capital for its planned activities, which raises substantial
doubt about its ability to continue as a going concern.The continuation of the company as a
going concern depends on obtaining additional working capital. In addition, the
companys business model is untested and untried.The Company invests in high risk
start-up enterprises.The Company
will rely on receiving additional funding from My Pleasure and other enterprises
in order to continue making investments and loans.This situation makes Accredited a
company that is suitable for investment only by for professional investors that
understand the inherent risks of a company that invests in startup enterprises.
Additionally, the Company trades in the Over-the-Counter market, a volatile
market for professional investors who understand the risks inherent in trading
stocks that lack liquidity.



Note 5.Cash
and Bank Account

On
March 29, 2011, other than its main accounts, the Company closed all the bank
accounts it maintained with Bank of America.The amount of the cash in the remaining
bank and brokerage accounts was as follows in December 31, 2011:

**Account
Number**
Amount38300640-8569
$327.9938300640-8572
640.31OptionsXpress
Brokerage Account
500.42TOTAL
$1,468.72


Note 6 -- Stock Holdings
We have listed on our balance sheet ending December 31, 2011,
certain investments into securities and/or stock. These investments are
described in more detail below:

We own 25% of Industrial Supply Company LLC, a Florida
entity.We paid $2,500 for the
interest.ISC planned on
registering as a lobbying entity with respect to construction contracts.As of December 31, 2011, we maintained
no information that our investment was potentially at risk.However, subsequent to our original
report ended December 31, 2011, we learned that the entity is not currently
pursuing this goal.We may choose
to impair the value of this investment effective December 31, 2012.If we do this, we will take a charge for
the entire amount of the investment and the charge will be found in our annual
report for 2012.We
purchased 43,639,950 common shares and 1,000,000 preferred shares of Hiland
Terrace Corp., an entity that owned the Hiland Terrace Hotel and Office Center
in North Huntingdon, Pennsylvania. This represents approximately 9% ownership of the corporation. We paid
$4,200 for the interest.  Since our investment, Hiland Terrace Corp.
divested its hotel asset.  However, Hiland Terrace Corp. continues to
operate and receive commissions on certain rooms sold at the hotel.  We
believe that, if Hiland Terrace Corp. liquidated, we would recoup our investment
at this time.  For that reason, we have not reduced the value or taken an
impairment charge with respect to this investment.
We own 77,634 common shares of Southeast Banking Corp. 
Southeast Banking Corp. is the holding company of a bank that was ultimately
seized by the Federal Deposit Insurance Corp.  We paid $7,763.40 for the
shares.  We purchased the shares when the banking institution was under
bankruptcy protection.  We did not impair the value of this investment as
of December 31, 2011, because the enterprise was reorganizing and there was an
interested buyer.  However, subsequent to the original annual report ended
December 31, 2011, the bankruptcy converted into liquidation and it is unlikely
that we will recoup anything from this investment.  Since we perform
impairment analyses on an annual basis, we will not revalue this investment
until December 31, 2012.  Shareholders are advised that we will probably
not receive any compensation from this investment in the bankruptcy case and it
is most likely a valueless investment.

We own 25% of the capital stock of 3-101-53218, S.A., which
we paid $2,000.00 for.  The enterprise operates a retail store in Costa
Rica at the San Pedro Mall.  As of December 31, 2011, we owned
167,500 shares of IAHL Corporation. We paid $38,879.12 for the shares.IAHL Corp. trades on the over the
counter market in the United States under the symbol IAHL.IAHL merged with TransCryogen, LLC (A
cryogenics transportation and logistics company www.transcryogen.com). TransCryogen and Altenesol have been
working together as partners where TransCryogen supplied the transportation and
logistics for the LNG to be produced by Altenesols Colombian plant.We note that, subsequent to the filing
of our original annual report, we sold 41,488 of the shares and at the time of
the filing of this amended report, we continue to hold 126,012 shares.We do not know the number of outstanding
shares of IAHL Corp. so we cannot ascertain the percentage of ownership we
have.We own 25% of the
capital stock of Soluciones Faciles S.A., a Costa Rican entity, which we paid
$5,000.00 for.  Soluciones Faciles, S.A., offers payday loans to the
public.  Management of Soluciones Faciles S.A. advises us that
the program is profitable and that it expects to issue us a dividend in
the second half of 2012.We
note that subsequent to the filing of this annual report, we did receive two
dividends from Soluciones Faciles, S.A.While we do not have access to the corporate records of Soluciones
Faciles, we have no reason, based on information we received from their
management, to believe that the investment is impaired.We own 1,000,000
shares of James Monroe Capital Corp., an entity that trades on the over the
counter market as JMCP.  We paid $200.00 for the shares.  We
revalued the shares base on market value as of December 31, 2011, at $100.00, or
$.0001 per share.  We know little about JMCP except that our
investigation demonstrated that it appears to be part of a stock fraud
scheme that issues shares pursuant to fraudulent and inflated debt.  We may
consider taking action against JMCP; however, our de minimus losses do
not appear to make litigation feasible.Our percentage of ownership is, lost likely, less than .1%.We
purchased 4,363,996 common shares of Diversified Land Management Group, Inc.,
from a private party for $225.00.  The shares are
unrestricted.  Diversified Land Management Group, Inc.,
owns parcels of land in Western Pennsylvania.  Aside from owning
the land, we are unaware of any significant business activity by DLMG.  We
have not yet received our share certificate because management
of DLMG informs us that their transfer agent, Transfer Online, Inc.,
improperly impounded their share records claiming that they owe a
"termination fee" because they were directed to transfer the records to a
different transfer agent.  Management of DLMG informs us that the
enterprise intends to initiate litigation to obtain its share records so
that it may issue our certificate. We believe we own less than 4% of the enterprise.
We purchased shares of Averion International Corp. for
$1,601.  These shares were ultimately converted to 395.78 preferred
shares.  Averion appears to continue to function as an entity,
but it no longer files reports with the Securities and Exchange
Commission.  We understand that four small and mid-sized clinical research
service companiesAverion International, Trio Clinical Research, Fulcrum Pharma
and Clin-Research/ADDPLANhave merged into one global biopharmaceutical company
and medical device development services organization.  We believe we own
less than .1% of Averion.We own 4,150 shares of Direct Markets
Holdings Corp., a broker-dealer.  We obtained the shares by purchasing
common stock of Hudson Holding Corp. for $22,325.00.  After Hudson merged
with what is now known as Direct Markets Holdings Corp., our investment was
significantly devalued.  Our position is that the merger was done against
the interests of the shareholders and involved fraudulent actions by
management that breached their fiduciary duties.  This resulted in a
significant loss to the value of our shares and we took an unrealized
impairment charge of $20,499 as of December 31, 2011, nunc pro
tunc.
We purchased 10,000 shares of Hotels & Stuff Inc. for
$2,000.00.  Hotels & Stuff Inc. is a Colorado corporation
that currently owns the Hiland Terrace Hotel and Office Center in
North Huntingdon, Pennsylvania.  We are informed by management of
Hotels & Stuff Inc. that they will take over operations at the
hotel effective January 1, 2013. We own between 4 and 5% of the
Company.

Note 6.Liabilities.

Current liabilities consist of loans made
by My Pleasure Ltd. to the Company; the Current Interest Payable contains the
accrued interest of loans from 2008, 2009, and 2010.




Note 7.Capital.

In 2008, the Company issued
5,000,000 shares to My Pleasure Ltd. for $.03 per share.  This
resulted in the new shares being listed with the previously issued and
outstanding common stock.The additional paid in capital of $100,000 is based on the
remaining $.02 per share.

The
adjustment to the shareholder's equity of $43,640 is made to correct the deficit
caused by the par value of the shares issued prior to 2008.

On
September 29, 2009, the Company cancelled the 1,892,100 shares in the
treasury.

On
May 10, 2010, the Company deleted 34 shares that were listed as previously
having been issued. This was because the transfer agent rounded fractional
shares to the nearest whole share. One shareholder maintained 66/100th of a
share that the transfer agent listed as a whole share. After the 100 for 1
forward split that occurred in 2009, the .66 shares became 66 shares. The
transfer agent requested permission to correct the records in this regard and
the Company granted permission.













Berman W. Martinez y Asociados Contadores Publicos
Autorizados

PCAOB REGISTEREDJanuary 21,
2013

CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



We
consent to the use, in the statement on Amended Form 10-K of Accredited Business
Consolidators Corp. of our report dated January 21, 2013, on our audit of the
amended balance sheet of Accredited Business Consolidators Corp. as of
December 31, 2011 and the related statements of operations, stockholders'
equity and cash flows for the year ended December 31, 2011, the year ended
December 31, 2010, and the cumulative period from July 18, 1998, through
December 31, 2011, and the reference to us as experts or auditors.





Berman
W. Martínez Martínez

Authorized
Public Accountant

Managua,
Managua



Direccion
Rubenia C28  Telefono [505] 22222198 - 22663124 Fax 22223032 Apartado:
1488

Miembro
de la Camara Nicaraguense de Contadores Publicos y Consultores







EXHIBIT
31.1

CERTIFICATIONS

I,
Joanna Chmielewska, certify that:

1.
I have reviewed this Annual on Form 10-K of Accredited Business Consolidators
Corp.;

2.
Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3.
Based on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;

4.
I am presently responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and
internal control over financial reporting (as defined in Exchange Act Rules 13a
 15(f) for the registrant and have:

(a)
Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, except that
in this instance I was not an officer at the time the data was accumulated in
this report and based the information on third party information obtained from
prior officers and their legal counsel, of which I believe to be true;

(b)
Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under my supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;

(c)
Evaluated the effectiveness of the registrants disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation, but note that I was not an officer at
the time period in this report and based the information on data received from
the companys prior officers; and

(d)
Disclosed in this report any change in the registrants internal control over
financial reporting that occurred during the registrants most recent fiscal
quarter that has materially affected, or is reasonably likely to materially
affect, the registrants internal control over financial reporting; and

5.
I have disclosed, based on our most recent evaluation of internal control over
financial reporting, that:

(a)
All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to
adversely affect the registrants ability to record, process, summarize and
report financial information; and

(b)
Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrants internal control over financial
reporting.



|Date:
January 28, 2013 | /s/ Joanna
Chmielewska               
|---------------------- | -------------------------------------
|                       | Joanna Chmielewska                   
|                       | President and Chief
Financial Officer















Exhibit
32.1

CERTIFICATION
PURSUANT TO

18
U.S.C. § 1350

AS
ADOPTED PURSUANT TO

SECTION
906 OF THE SARBANES-OXLEY ACT OF 2003

In
connection with the Annual Report on Form 10-K of Accredited Business
Consolidators Corp. (the Company) for the 2008 fiscal year, as filed with the
Securities and Exchange Commission on the date hereof (the Report), the
undersigned President, and sole financial officer of the Company, certifies, to
the best of her knowledge, information, and belief of the signatory, pursuant to
18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act
of 2003 that:

(1)
The Report complies with the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934; and

(2)
The information contained in the Report fairly presents, in all material
respects, the financial condition and results of operations of the Company.



|/s/ Joanna
Chmielewska                | 
|------------------------------------- | 
|President and Chief
Financial Officer | 
|Date: January 28,
2013                |