Replies to post #16641 on Universal Bioenergy Inc. (fka UBRG)

[Krysti]

2010 and 2011 'Projections' were amended in 2012.
The auditor signed off his work in April 2012.
That's why these 'projections' are accurate.

The original projections were for gross profits of $20m on revenues of $1bn by April 2011, and gross profits of $60m on revenues of $3bn by April 2012.

" The management of NDR Energy believes (but cannot guarantee) that with the establishment of the financing facility indicated above, that it may reach an estimated one billion dollars ($1,000,000,000.00) in fuel sales at the end of twelve (12) months and up to three billion dollars ($3,000,000,000.00) in fuel sales at the end of twenty four (24) months after the closing.

The management of NDR Energy also believes that the estimated gross profit projected from sales in year one may be up to twenty million dollars ($20,000,000.00) and estimated up to sixty million dollars ($60,000,000.00) at the end of two (2) years"

Source: Member's Purchase Agreement April 2010.

[Sumdude]

Please.. I for one have no faith in these scrubs and neither do the banks..

did anyone even read this amended 8k?



Additional Summary of the Purchase Agreement



The Company retains the right to purchase additional equity of the Member Interests of NDR Energy. NDR Energy will appoint 2 seats on its Board of Managers as selected by the Company. The Company agrees to provide NDR Energy Group with Management Support Services. The Company will provide NDR Energy Group with $1,000,000 in working capital. The Company will arrange, on a best efforts basis, a “Financing Facility / Credit Line up to an estimated amount of $300 million dollars drawn on a major U.S. bank or similar financial institution, to purchase its natural gas contract receivables, and help fund its growth and expansion. NDR Energy Group agrees to comply in accordance with the related financial covenants.


ITEM 3.02 - UNREGISTERED SALE OF EQUITY SECURITIES.


See Item 1.01 above.

Update on Form 8-K Report disclosures in ITEM 1.01 above.

The information presented below will serve to update the disclosures in Item 1.01, “Additional Summary of Purchase Agreement”;



Working Capital Line

Pursuant to the Member Interest Purchase Agreement, the Company is providing working capital to NDR Energy pursuant to a line of credit, via a Working Capital Note with a maximum principal amount of $1,000,000.


in other words... FAT DILUTION.. UHGAIN...

Letter of Interest / Term Sheet with Wells Fargo Capital Finance for $300 Million

As was disclosed in our Form 10-K for the period ending December 31, 2010, on February 22, 2010, NDR Energy signed Letter of Interest / Term Sheet with the Receivables Funding Group of Wells Fargo Capital Finance of Charleston, South Carolina. The Letter of Interest / Term Sheet was for Wells Fargo to provide NDR Energy with an “Accounts Receivable Financing Facility” with an aggregate of a $300 million dollar annual revolving funding line. The “Accounts Receivable Financing Facility” was intended to provide us and NDR Energy with working capital, and accounts receivable financing for a period of 18 months. On March 19, 2010, we paid Wells Fargo a good faith deposit of $7500.00 to complete the credit approval process and their due diligence. Unfortunately, due to the conservative and restrictive lending policies during the recession, the proposal was terminated, and we were not able to secure the final funding for the “Accounts Receivable Financing Facility”.

i dont believe them..
banks dont believe them..

and they amend the 8k stating a new MILLION DOLLAR SHARE DUMP is coming..

how many 10q's will it take to see whats right in front of your face..

UBRG is BROKE.
UBRG is NOT DTC compliant
UBRG has just annouced a fat $1,000,000.00 share bath