Universal Bioenergy Inc. (fka UBRG)

[AliEn BRaInZ stox]

More details on possible $UBRG UPLISTING. Friday, January 27, 2012 11:04 AM ET
Universal Bioenergy seeking advisers to assist in uplisting to NASDAQ.
Diversified energy company Universal Bioenergy Inc. on Jan. 24 said it plans to engage a Wall Street investment banking firm to help move its stock listing to the NASDAQ.
http://www.snl.com/Interactivex/article.aspx?CdId=A-14066878-12582
Universal and its NDR Energy Group LLC subsidiary held discussions with several investment banks and private equity firms to assist Universal in its growth and expansion plans. The company is seeking banks to provide advisory and consulting services for a potential listing of its shares on the NASDAQ, Universal said. The company's shares currently trade on the OTC Bulletin Board.

The discussions also outlined strategies to raise Universal's stock price in order to qualify for a NASDAQ listing; improve its capital structure; increase the company's market value; and launch a secondary public offering to raise $50 million for expansion and acquisition activities. Universal is in final talks to acquire a stake in Whitesburg Friday Branch Mine LLC, which produces thermal coal in eastern Kentucky.

"The company has already received proposals and agreements from several of the investment banks and advisory firms we met with. The company's board of directors will be meeting with its securities attorneys and other professional consultants to determine which investment bank or advisory firm we will engage under a formal agreement," Universal Senior Vice President Solomon Ali said in a statement. However, Universal does not guarantee a successful listing on the NASDAQ, he added.

http://www.snl.com/Interactivex/article.aspx?CdId=A-14066878-12582