Universal Energy Corp (UVSE)

[mimurray]

The O/S as of June 30th was 250 million, and that is what it still is. All of their shares are currently issued.

So I think that still using an ultra conservative number would place fair value above .08.

Also, it is incredibly doubtful that they will ever issue the entire 1.5 B shares. They can satisfy all of the remaining CD holders and still be well below one billion shares outstanding.

It's still nice to see a valuation as you suggested that is so much higher than what the pps currently is. It gives us plenty of room to make upward adjustments and still remain conservative.

That said, if we get good numbers from projects not yet included in the numbers as of this quarterly report this stock could really get exciting as it makes it's journey towards a fair, and realistic valuation.