Palm Beach, FL 2/27/12 (StreetBeat) -- Universal Bioenergy Inc., (Pinksheets:UBRG), a publicly traded independent diversified energy company, announced that 7,130,020 shares of its stock traded on Friday February 24, 2012 after it reported that it set a new record of over $71.74 million in sales for the fiscal year ending December 31, 2011. The Company's annual sales continue to grow at double-digit rates. The $71.74 million in 2011 sales was a 73.75% increase over the $41.29 million in reported sales for 2010.Encouraged by the news of the 2011 record sales, investors quickly purchased the stock at a rate of nearly 3.5 million shares per hour, or over 58,000 shares per minute in the last two hours of the trading day. This was the highest volume trading day for 2012 thus far. A total of 7,130,020 shares were traded on Friday, which was about 9.68 times the average daily trading volume of 736,646 of Universal's shares.
Solomon Ali, Universal's Senior Vice President says, "That was a very strong trading day for the Company, and it certain demonstrates strong investor interest in the Company. We are trying to build a greater sense of confidence in the Company and its future growth by our shareholders and investors. The year 2011 was the best year in our history so far, and we project an even stronger future in terms of revenues and potential profits this year. We hope this interest will have a positive impact on our stock price and the value of the Company. We are continually pursuing various means to bring increased value to our shareholders."
The $71.74 million in 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.
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