Universal Energy Corp (UVSE)

[mikeyk]

As of June 30, 2009, we have issued and outstanding an aggregate principal amount of $4,469,600 of convertible debentures; based upon currently applicable conversion price of $0.00016 per share on that day, approximately 27,935,000,000 shares will be required if the Debentures are converted in full; additional, 142,743,836 shares will be required in order to satisfy our obligations under the Warrants at the current exercise price of $0.25 per share.


Total number of shares to be reserved for issuance
42,082,743,836

Total number of shares authorized but unreserved
51,458,415,380