Wednesday, April 08, 2009 8:47:17 PM
Since the run up started on March 26th, this is now only 10 trading days, we have 4.849 billion shares changing hands, 1.86 billion buys and 2.988 billion sells. It doesn't make sense that we continue holding a higher PPS with a 2 to 3 buy to sell ratio. The company has been quite allusive when it comes to providing details regarding the repayment of the CD's, it's like pulling teeth trying to get an answer of what is going on.
The reason I have doubt about Dyrons answer is an e-mail I sent to Raley back in December 2008 questioning where his authority came from on the A/S increase from the 1.25 billion shares to the 6.5 billion we sit at now, and the response I received was quite incredulous, I specifically stated in the e-mail that I was aware of the September proxy vote, yet this was the answer I received.
Mike the A/S were increased at the shareholder meeting due to concern by shareholders that we would not have enough shares to honor our debenture agreements.
Dyron and I are focused on keeping the company in good standing regarding our debentures and are making every effort to protect the existing shareholders by keeping the company that way. We are doing everything we can within the terms of the agreements, but they are very onerous on us.
Billy Raley
Chief Executive Officer
Universal Energy Corp.
30 Skyline Drive
Lake Mary, Fl. 32746
T - 800.975.2076
C - 407.562.8162
F - 800.805.4561
braley@universalenergycorp.info
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