IT'S TRUE AND I RECEIVED THE SAME E-MAIL FROM MR.GUEST AS FOLLOW:
To all of our concerned Shareholders,
This in response to your emails and inquiries about the status of the filing of our Form 10-K Annual Report.
Let me say first of all, that we appreciate all of you as valued Shareholders and being part of the Universal investor family. Most of you have been very loyal to us for many months, and some for several years. However, you are all still waiting for the filing of the Form 10-K. You want to know what’s really going on inside your Company – don’t you? And you have every right to know. You have been very patient, and are no doubt frustrated and angry, because you want to see the final confirmation of the things you read about in the news releases and the audited financials of your company.
Well, you have every right to be somewhat angry and frustrated. We really can’t blame you for feeling that way. We’re shareholders too, and we have feelings very similar to yours. Some of you may be wondering if the Company is real, or is it all just another PinkSheet company scam, or perhaps another “pump and dump” scheme. And some of you are saying, “They issued the press release on June 30, 2011 saying they would have the Form 10-K out the following week, and there’s still no 10-K!” I know how it must look.
Well, let me confirm to all of you, that we are a real operating company with solid revenues. You can research our company on the Nevada Secretary of State website, the SEC website, OTCMarkets, and Standard & Poor’s. We have an office in Irvine, California and Charlotte, North Carolina. We are not a part of a scam or scheme to “pump and dump” our stock. We’re good honest people with integrity. Unfortunately, many short sellers and others may try to make you believe otherwise, by putting out misinformation and using scare tactics, to make you dump your stock. Then, they can by it at a low price and sell it at a higher price in the market. Then you really lose.
Now, as regards the news release on June 30, 2011, we issued that in full honesty based on the direct information that was given to us by our auditors. We fully expected to have the 10-K filed that following week. Unfortunately, due to some delays in completing the document it didn’t get filed. All of the documents, contracts, purchase orders, invoices for sale and purchases of natural gas, Letters of Intent, confirmations, agreements, Notes, lines of credit, bank statements, deposits, checks, bank wires, disbursements, accounts payables, receivables, liabilities, assets, property, expenses, inventories, acquisitions, shareholder lists, stock transaction activity, and much more, must be verified by the CPA’s and Auditors to protect the interests of the shareholders.
Then as an extra layer of protection, the Form 10-K must be reviewed by our securities legal counsel, and then by another secondary independent/auditor who reviews the information of the primary auditor. The secondary auditor/reviewer must approve the financials and the 10-K submitted to him from the primary auditor, before the primary auditor can issue his report and opinion letter to file the Form 10-K. Right now, the Form 10-K is in the hands of the secondary auditor/reviewer, and we are all awaiting his final review so we can file the document with the SEC. When the document is filed, you should achieve a very high level of confidence that it meets the guidelines of GAAP, FINRA, SEC section 13(a) or 15(d) of the Securities Exchange Act of 1934; and the Sarbanes-Oxley Act of 2002. The information contained in the Report will fairly present in all material respects, the financial condition and results of operations of the Company. That way you can invest with confide
nce.
You really have a great management team, that really cares about its shareholders, especially our Senior Vice President Solomon Ali. I believe many of you have spoken to him directly by phone. And he returns most of your calls. Additionally, Management believes that our stock is greatly undervalued, and that the current trading prices are not truly reflective of its real value, and that the share price has great potential for growth, based on our revenues and plans for expansion.
We truly apologize for the recent delay in filing the Form 10-K, unfortunately it was outside of our control, and we really can’t control the Auditors. Although we pay them, they must be completely independent, and they are supposed to work for the best interest of the shareholders, not Management or the Company. We don’t believe it will be much longer now. We’re almost finished. Thanks for you patience and your loyalty.
Very truly yours,
Vince M. Guest
President & CEO
