IRVINE, Calif., Feb. 2, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced that it is planning to file its Form 10-K Annual Report with audited financials with the U.S. Securities and Exchange Commission. The Company is expecting another year of double-digit growth for 2011.
The Company's officers have been in discussions with its accountants and Independent Auditors since early January to process and review all of the necessary documents for Universal Bioenergy and NDR Energy Group LCC to complete the timely filing of the Form 10-K Annual Report for 2011. The Company is working diligently with its accountants, independent auditors and legal counsel to complete the final review and approvals for filing the Report.
Universal's President Vince M. Guest states, "We feel very positive about the financial results and operations of the Company for 2011. We started working with our accountants and auditors right after the 2011 fiscal year ended in December to get a very early start to complete the financials. As the Company grows and expands its energy product line from natural gas into propane, oil and coal it requires a lot more time to prepare. We believe when the Form 10-K Annual report is filed it will demonstrate a tremendous year of strong growth, solid financials and continued double digit growth in revenues. It will also demonstrate many of the strategic goals we set out to accomplish for the long term benefit of our shareholders. We have great confidence in our team's ability to position the Company for another great year of growth and expansion, in spite of a sluggish economy. We are also working very diligently to increase our stock price, market value and remove the DTC chill from our stock."
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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Safe Harbor Statement -- There 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 annual report and accounts and other SEC filings. 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.