Universal Bioenergy Inc. (fka UBRG)

[6sigma6]

•Formerly=Palomine Mining, Inc. until 11-07

Rubbish theory.

Different company, different directors, different management. Heck even company name.

Seriously read the K's

"This Current Report on Form 8-K is being filed to disclose that Palomine Mining, Inc. ("Palomine" or "we") consummated its acquisition of Universal Bioenergy North America, Inc., a Nevada Corporation, ("Universal"), at a closing held on December 6, 2007 This Current Report on Form 8-K is being filed to disclose that Palomine Mining, Inc. ("Palomine" or "we") consummated its acquisition of Universal Bioenergy North America, Inc., a Nevada Corporation, ("Universal"), at a closing held on December 6, 2007. Such acquisition was consummated pursuant to and in accordance with the Stock Purchase and Recapitalization Agreement (the "Agreement"), dated October 24, 2007, among Palomine, Universal and Mortensen Financial Limited, a shareholder of Palomine("Mortensen"). We are also providing herein audited financial statements of Universal Bioenergy North America, Inc. and certain information relating to the assets and operations of Palomine following its acquisition of Universal.

As a result of the closing, Universal has become a wholly owned subsidiary of Palomine. In exchange for all of the issued and outstanding shares of Universal, Palomine issued to the shareholders of Universal 2,000,000 shares of common stock of Palomine. Mortensen, a shareholder of Palomino contributed 1,800,000 shares of common stock of Palomine to the amount of shares being delivered to Universal shareholders by Palomine. Such issuance represents an issuance of 44% of the issued and outstanding shares of Palomine. In addition, pursuant to the terms of the Agreement, an amendment to the certificate of incorporation of Palomine was filed with the State of Nevada whereby: (i) the name of the company has been changed to Universal Bioenergy, Inc., (ii) the shares of common stock of Palomine issued and outstanding at the time of the closing (4,500,000 shares) were increased by a forward stock split in the amount of five (5) shares for each share of Palomine issued and outstanding (resulting in 22,500,000 shares issued and outstanding); and (ii) the authorized shares of Palomine were increased to 200,000,000 shares of common stock with a par value of $0.001 per share; and 1,000,000 shares of preferred stock with a par value of $0.001 per share."


http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=5601318-979-126818&type=sect&TabIndex=2&companyid=667996&ppu=%252fdefault.aspx%253fcik%253d1320729