IRVINE, Calif., May 4, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc. (Pink Sheets:UBRG). Shares of Universal Bioenergy soared 16.67% on Tuesday May 3, 2011 after it reported its 2010 operating information and projected revenues from new profit centers for 2011 in its recent Form 8K.
Encouraged by the news, investors quickly bid up Universal Bioenergy shares to $0.0735 at the close of the trading day for a gain of 16.67% over Monday's closing price of $0.063. A total of 8,824,998 shares were traded yesterday, which was about 9.12 times the average daily trading volume of 967,912 of Universals shares. The 8,824,998 shares traded set an all time new record high in trading volume for a single day in the history of Universal Bioenergy. This breaks the previous trading volume record of 7,106,309 shares which was set on March 3, 2011, by an increase of over 24%.
Solomon Ali, Universal's Senior Vice President, says, "This was really a tremendous day for us. This new trading record reflects growing confidence in Universal by the investment community, and where they think we're headed. We had our best year in the Company's history in 2010, and delivered a very impressive first quarter this year with $22.56 million in revenues. We are continually pursuing various means to bring increased value to our shareholders. We also feel this will improve the Company's position to make it more compelling to larger retail and institutional investors, who are looking for strong growth stocks with \more volume, liquidity and a good exit strategy. I encourage our shareholders to continually watch the news in the weeks to come, as we execute more facets of our business plan."
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 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.
CONTACT: Media Relations: Solomon Ali 704-837-5705
