Replies to post #24618 on Universal Energy Corp (UVSE)

[brodyterrier]

OOPS Example 2 should be 125 shares not 12.5

[mikeyk]

I read it, but I still don't believe it. Technically the company is not repurchasing the shares for the company, but for recycling the shares to pay off the CD. The A/S and O/S have not budged since the first week of February, yet the share count that has been trading the last 3 months is ridiculously huge. Just in the last 3 months 9.216 billion shares have traded, 3.588 billion buys and 5.627 billion sells. The MM surplus right now continues to grow, currently 2.138 billion shares. The pps was riding .0001-.0002 for 3 1/2 months and for no real reason jumped all the way up to .0008, now we're back around .0004.

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
[e-mail]

[mikeyk]

Also while I'm thinking about it, according to the SEC rules, if this accumulation that we've seen is happening by a single entity, we don't know who, we should have seen a 13G or 13D filing by now, we're talking over 30% of the O/S right now. This brings Bristols filing on February 13th into question again and their 9.52% ownership of the O/S with 364 million shares when the O/S was 6.45 billion shares. I'm hoping the 10K and next months 10Q provide some clarification, the company has been way to secretive when it comes to the CD's.