Universal Bioenergy Announces Filing of Its Annual Report on Form 10-K and Financials


IRVINE, Calif., July 26, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG), a natural and alternative energy company, announced today that it has filed its Annual Report on Form-10K for the fiscal year ended December 31, 2010 with the Securities and Exchange Commission. The annual report contains the Company's audited financial statements, management's discussion and analysis (MD&A), its plans and future outlook and other disclosures.

The Company posted record revenues of $41,320,647 for the twelve months ended December 31, 2010, as compared to $0 for the same period in 2009. The $41,320,647 in revenues were generated in only 8 ½ months from the close of the acquisition of NDR Energy Group on April 12, 2010, through December 31, 2010. Universal incurred losses of $1,947,962, as compared to $1,872,448 for the same period ended December 31, 2009. Excluding the value of common stock that was issued for services, and interest expenses which had a combined total of $921,859, would correspondingly reduce the net loss of $1,947,962 to an adjusted net loss of $1,026,103 for the period ending December 31, 2010. Most of the net loss was due to the acquisition of NDR Energy Group, issuance of stock, interest expenses and purchase of gas inventories.

The Company reduced its total operating expenses from $1,858,309 for the period ending 2009, by a total of $524,491, or by 28.22%, to $1,333,818 for the period ending December 31, 2010. Its total assets increased by $12,964,812, or 4381.21% to $13,260,731 for this period, primarily due to natural gas inventories, compared to $295,919 for the same period in 2009. Its long-term liabilities for this reporting period were $213,355.  

Universal's President Vince M. Guest states, "Last year our management team inherited a development stage company that had limited operations, assets, and in previous years had no revenue, earnings, and a low trading volume and liquidity in its stock. We believed we had a mandate from our shareholders and investors, to build a solid operating company with strong revenues and earnings in the shortest period of time. This presented us with a monumental challenge, especially in the worst economic downturn the United States has experienced since the Great Depression. However, we managed to turn around a small development stage company, built an operating company, and generated revenues in excess of $41 million, all in less than one year. Overall, we are highly pleased with the progress we made last year. We intend to propel the Company to a dominant market position, and be one of the top independent energy companies in the United States."

Solomon Ali, Universal's Senior Vice President says, "Our management intends to deliver greater value to our shareholders and investors by generating increasing revenues, producing solid earnings and improving returns on invested capital for the long-term growth of our Company. We feel this is the greatest measure of our success. We believe the Form 10-K now fully confirms and firmly establishes all of the projects, transactions and information that we have released to the public this past year. It also confirms the tremendous progress we made and proves that we successfully accomplished the goals we set out to achieve. In short, we did what we said we would do. We have been working on several multi-million dollar acquisitions and transactions and now we are fully prepared to release this information to the public over the next several weeks. We are very about excited these and believe it will bring significant value our shareholders."

The full Form 10-K Annual Report is available for viewing on the SEC's website and it is also available at our website at www.universalbioenergy.com Investor Relations, SEC Filings section.

About The Company

Universal Bioenergy Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, petroleum, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.

The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784

Safe Harbor StatementThere are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent Form 10K Annual Report, and accounts and other SEC filings, which is on file with the SEC on their website at www.sec.gov. The full Form 10-K Annual Report is also available at our website. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.



            

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