Replies to post #25990 on Universal Energy Corp (UVSE)

[mikeyk]

The 10K needs to be filed today or else it's pink sheets. If it goes to the pink sheets, it will stay there for at least 1 year. To get back on the OTC the company would need to be compliant for 1 full year with all their filings. So if the 10K is not out today, its pink sheets for a 1 year minimum.

[igetbored216]

Well, if they don't release it today then to the pinks the company goes. Then, if I remember correctly, the only way to get out is to comply with filing timely reports for one year.

But hey, maybe the reports will have good news on them. Maybe it will have info about the NESS acquisition. Oh wait, that whole thing was a huge story because OKT Resources had already acquired NESS in November 2008. http://www.nessenergy.com/

Maybe the CDs have substantially decreased. Oh wait, the math on the proxy doesn't make any sense and somehow - through all the conversions - debt actually INCREASED.

Well, maybe there have been more wells drilled and more revenue flowing into the company. Oh wait, the company has zero money to drill more wells and the only revenue coming in is from four wells that they don't even own leases on, and it isn't even close to paying administrative costs.

Sorry that I sound so negative, but this company has been very wishy washy. I don't have much money invested in the company, but am just annoyed because it had so much potential to thrive and it was wasted away by poor management. The company had a huge window of silence and then came forward with great news of acquisitions and we finally saw a light at the end of the tunnel. It turned out the light was a train (more dilution, which will probably lead to a R/S to get the share structure under control) and now I don't know what to think about this company.

Since they are so secretive the only thing I can assume is that this is one big scam and Raley and Watford are the CEO and CFO.

[katyg]

I too have "taken the time" to find out what's going on and I agree with mimurray -- I don't think it's the cloak and dagger, smoked filled back room conspiracy ya'll are making it out to be. Sure, things in the report might not be the best news we've ever gotten, but there is just as much of a chance it'll be relatively good news too. We'll all just have to wait and see.

For the record, I wrote to the company and asked for an update on expected dates etc... I was very clear about being a small time investor (I have 4 mill today and hope to pick up some more perhaps) and fully and reasonably expected to hear nothing as a result of such a minimal stake.

While I have nothing new to report that hasn't been already been said, the company DID get back to me. I do not think they are hiding anything. I got the impression they are crazy busy right now. Maybe that's good, maybe not, but it statisfied me.

I don't believe it would be ethical to copy the email here. I would reccommend if you are curious, find out for yourself.
I have a good idea -- why don't some of ya'll put a moratorium on your droning and wretching until you have AT LEAST made the effort to email or call the company first. I'm not even gonna suggest you wait for a response before you go back to your old ways, but jeez, make an effort to put some backbone to your b!tching before you continue with it...