DGAP-News: Universal Bioenergy Announces It's Fiscal 2010 Results Of Operations
ID: 390252
Universal Bioenergy Announces It's Fiscal 2010 Results Of Operations
19.04.2011 / 09:00
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UNIVERSAL BIOENERGY INC.
Contact:
Solomon Ali
Universal Bioenergy Inc
Phone: (888) 263-2009
Fax: (951) 281-4653
19800 MacArthur Blvd., Suite 300
Irvine, CA 92612
www.universalbioenergy.com
PRESS RELEASE
Universal Bioenergy Announces It's Fiscal 2010 Results Of Operations
IRVINE, Calif., April 19 2011 - Universal Bioenergy, (Pink Sheets: UBRG),
a publicly traded energy company, announced today, it's results of
operations, for the year ending December 31, 2010.
The Company's total revenues for the twelve months ended December 31,
2010 were $41,282,201 as compared to $0 for the same period in 2009. The
total revenues for the three months ended December 31, 2010 were
$20,936,667 as compared to $0 for the same period in 2009. The Company
currently generates the majority of its consolidated revenues and cash flow
from the marketing of natural gas. We incurred losses of approximately
$566,000 for the twelve months ended December 31, 2010, as compared to
$1,872,448 for the same period ended December 31, 2009. Current management
has created significant value and generated revenues of $41,282,201, since
the acquisition of NDR Energy on April 12, 2010, when previously there were
no revenue generated in the prior years.
This information is preliminary and unaudited. The Company anticipates the
formal audit of their financial records, will be completed soon, and the
full details of its financial results will be reported in its Form 10K
Annual Report, to be filed with the SEC.
Vince M. Guest, Universal's President states, 'Due to all the major
activity for the Company in 2010, our Auditor's must perform an audit on
Universal, a review of NDR Energy Group's records for the last five years,
an audit for NDR for the last two years, an audit of Texas Gulf Oil&Gas, and all related contracts and documents. The amount of work involved,
and extent of this audit has caused a delay in the filing of the Form 10K
Annual Report. We apologize to our shareholders for the delay. We expect
the filing of the Form 10K to be completed very soon.'
About The Company
Universal Bioenergy Inc., is an alternative energy company, and intends to
create and market natural and alternative energy sources including natural
gas, solar, biofuels, wind, synthetic fuels and related energy technology
products. It plans to build the company into a prominent player in
alternative energy.
For inquiries contact: Media Relations: Solomon Ali at 704-837-5705
- END -
Safe Harbor Statement - There are matters discussed in this media
information that are forward looking statements within the meaning of Rule
175 under the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by those
rules. Such statements are only forecasts and actual events or results may
differ materially from those discussed. For a discussion of important
factors which could cause actual results to differ from the forward looking
statements, refer to Universal Bioenergy Inc.'s most recent annual report
and accounts and other SEC filings. The company undertakes no obligation to
update publicly, or revise, forward looking statements, whether as a
result of new information, future events or otherwise, except to the extent
legally required.
End of Corporate News
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120560 19.04.2011Unternehmensinformation / Kurzprofil:
Datum: 19.04.2011 - 09:00 Uhr
Sprache: Deutsch
News-ID 390252
Anzahl Zeichen: 4655
Kontakt-Informationen:
Kategorie:
Wirtschaft (allg.)
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