Universal Bioenergy Approves Financial Restructuring Plan to Reduce Debt,
Increase Profits and Shareholder Returns
IRVINE, CA -- (Marketwired) -- 04/23/14 -- Universal Bioenergy Inc.
(OTCQB: UBRG), a publicly traded independent diversified energy
company that markets and distributes natural gas, petroleum, coal and
electricity, announced it has approved a plan to restructure its
financials in an effort to improve its Balance Sheet, further reduce
its debt, generate strong earnings and improve shareholder returns.
In April of 2012, the Management of Universal Bioenergy improved the
Company's financials and improved its Balance Sheet by reducing its
long-term debt by a total of $3,234,775 for the fiscal year ending
June 30, 2013. This reduced the Company's long-term liabilities to
$976,248 for the period ending June 30, 2013 as compared to
$2,233,882 for the year ending June 30, 2012.
The Company plans to continue its aggressive drive to generate
positive earnings by making further efforts to improve its
financials, restructure its Balance Sheet and reducing its short-term
debt and long-term liabilities.
Universal's Senior Vice President Solomon Ali states, "By reducing
our debt by $3.2 million last year, it greatly improved our
financials and our Balance Sheet. However, we are not done yet. Our
goal is to continue in our pursuit to generate profits for the
Company. Therefore, we will continue to work with our creditors to
pay down and pay off many of the debt instruments that were created
several years ago to finance the Company's initial growth and
expansion. As a matter of fact, the Company has significantly reduced
its reliance on borrowing from its creditors for the last 16 months.
We believe these efforts should continue to improve our financial
performance and position the Company to be profitable."
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
For inquiries contact: Media Relations: Solomon Ali at 704-837-5705
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
Press spacebar to pause and continue. Press esc to stop.