IRVINE, Calif., March 11, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy (Pink Sheets:UBRG), a publicly traded energy company, announced today, that it has set a new all time record in sales revenue of $41,292,201, for the year ending December 31, 2010. These revenues are preliminary and unaudited. The Company anticipates the formal audit of their financial records, will be completed soon, and the full details of its financial results will be reported in its Form 10K Annual Report, to be filed with the SEC.
The $41,292,201 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. The Company's current management team has created significant value for the Company, and generated $41,292,201 in revenues, when previously the Company produced no revenues in the prior 2 to 3 years.
"We are very pleased with the phenomenal and rapid progress we've made this past year. This is exactly what we have been telling our shareholders that we were going to do. This is a fine testament to our creative management team, and our new strategic direction," says Vince M. Guest, Universal's President and CEO. "This performance by the Company is especially significant, given the fact that we're in the worst recession in U.S. history. However, there's still a lot more exciting and challenging work ahead of us. We feel very confident in our ability to grow the Company, through more natural gas sales, oil, strategic acquisitions, and generate higher revenues and earnings. We believe we're on track in 2011 to really out perform what we accomplished in 2010. When we execute our full marketing strategy in association with NDR Energy Group, and Texas Gulf Oil & Gas, we feel we could potentially build a billion dollar Company."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, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
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