On April 13, 2012 USEI acquired all of the assets and liabilities of AM Oil Resources & Technology a private company that once traded as a public company under the symbol AMOR.OB. The company has innovative oil recovery technologies and a strategy for recovering marginally producing oil. As a result of this acquisition, our oil and gas sector will seek to acquire and develop stranded or un-recovered oil properties for enhanced oil production, create partnerships with operators, create strategic alliances for primary and secondary recovery, and partner with farm-ins on properties where technology will be utilized to improve recovery efforts. Our goal here is to become an environmentally responsible oil and gas company; utilizing all methods available to improve oil recovery. We will also market all of our technologies to a worldwide market to produce significant revenue and value for our shareholders.
Also on May 10, 2012 Corporate Bylaws and May 10, 2012 Initial Company Information and Disclosure Statement were filed http://www.otcmarkets.com/stock/USEI/financials Share structure from Initial Information Statement listed on page 4 http://www.otcmarkets.com/financialReportViewer?symbol=USEI&id=81005 As of the year ended December 30, 2011: Common Stock Authorized: 295,000,000 Common Stock Outstanding: 261,402,163 Public Float: 134,902,263 Preferred Stock Authorized: 5,000,000 Preferred Stock Outstanding: 0 Number of Shareholders of Record: 123
May 11, 2012 Attorney Letter with Respect to Current Information so they should be going current status next week.