IRVINE, Calif., Sept. 14, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane, petroleum and coal, announced today that it is planning to hire a new Chief Financial Officer to assist the Company in its drive for growth and expansion. The Company is accelerating its efforts to build a stronger professional management team as it prepares to position itself to up-list to a major stock exchange such as NASDAQ or AMEX/Equities.
Universal Bioenergy is a high growth company, that generated over $71.74 million in revenues in 2011. Through its subsidiary, NDR Energy Group, it sells natural gas to 30 of the largest public utilities, electric power producers and local gas distribution companies that serve millions of commercial, industrial and residential customers throughout the country.
The Company has initiated a search, and has been reviewing potential qualified candidates for the critical position. The primary goals of the new CFO will be to provide strong financial leadership, help build a stronger financial structure for the company, improve its Balance Sheet, reduce its debt, raise additional capital, assist with mergers and acquisitions, and manage all accounting operations, financial planning, financial reporting, internal controls and preparation of its SEC Reports and Filings.
Universal's Senior Vice President, Solomon Ali states, "I'm very excited about the growth of our company and our plans for rapid growth and expansion. To sustain our rapid growth and build a billion dollar company, we are in the process of building a world class management team. A new highly qualified Chief Financial Officer will provide exactly the support we need to spearhead our financial goals, to increase revenues, achieve solid profitability, assist with our planned mergers and acquisitions, help in the up-listing to major a stock exchange and increasing shareholder value."
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
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.
The Universal Bioenergy Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6784