American Business Corp (ARBU) Gagner

American Business Corp. operates as a development stage company, which has no specific business plan or purpose and has indicated that its business plan is to engage in a merger or an acquisition with an unidentified company. The company is headquartered in Newtown, Pennsylvania. The firm previously was engaged in providing freight transportation services to large corporations and the operation of a regional truckload carrier specializing in the short to medium haul market segments, through the Company’s wholly owned subsidiary U.S. Trucking, Inc (Trucking). The Company’s operating subsidiaries that collectively comprised substantially all of the unprofitable business, filed for Chapter 11 protection in the Bankruptcy Court of the Northern District of Florida. Shortly thereafter and principally as a result of its failure to successfully implement a plan of reorganization, the court-appointed Trustee in Bankruptcy converted the case to a Chapter 7 liquidation.