Universal Energy Corp (UVSE)

[Glutten]

at this point i'm not sure about anything - i looked at the 10/Q they filed in November of 2007 - and the one they filed this week and they are not the same.

the statement below was taken directly from the filing this week.

"During the course of the audit for the fiscal year ending December 31, 2007, the Company’s Chief Financial Officer discussed the accounting for the September debenture financing with Cross, Fernandez & Riley, LLP. As a result, the Company determined that the accounting for the September debenture was incorrect and the effect of such misstatements was material. As a result, the Company decided it will restate its previously filed quarterly report on Form 10-QSB for the quarter ended September 30, 2007. The restatements are required to properly reflect the Company’s financial results for certain non-cash and non-operational related charges or credits to earnings associated with both embedded and freestanding derivative liabilities."

just thought it may explain a couple of things or at least ask a few more questions.