News for 'UBRG' - (Universal Bioenergy Prepares to File Financials and Expects Improved Value for Shareholders)
IRVINE, Calif., Jun 30, 2011 (GlobeNewswire via COMTEX) -- Universal Bioenergy
Inc. (Pink Sheets:UBRG), a natural and alternative energy company confirms that
it expects filing its Form 10K Annual Report with audited financials with the
U.S. Securities and Exchange Commission next week.
The Board of Directors met with its Certified Public Accountants and Independent
Auditors this week to review the final details and status of the audit for
Universal Bioenergy and NDR Energy Group. The Company is working diligently with
its certified public accountants, independent auditors and legal counsel to
complete the final review and approvals for filing the Report.
Universal's President Vince M. Guest states, "We wish to apologize for any
inconvenience this filing delay may have caused to our shareholders,
stakeholders and the investment community. This has taken a great amount of
effort for us, due to all of the major activity during 2010, in terms of
acquisitions, joint ventures and the intensive drive for revenues. However, we
want to ensure our Shareholders that we are reporting the most accurate
information and financial statements in the Form 10K Annual Report, for full
compliance with FINRA, GAAP and SEC guidelines."
"We are very excited about the audited financials that will be filed. We believe
the numbers will fully confirm and support all of the activities and information
that has been released in the news this past year. It will also demonstrate our
successes and prove that we accomplished the goals we set out to achieve, and
did what we said we would do. We have not released any news to the public
recently because we wanted to place a major focus on completing our financials
for filing. However, Management has been working on several major acquisitions
and transactions, and will release information on these to the public after we
have completed the filing of our financials. We are very excited and encouraged
about these and believe our shareholders will be also, as we expect it to bring
them significant value," says Solomon Ali, Universal's Senior Vice President.
