Universal Bioenergy Stock Soars 76.47%, Trades Over 9.04 Million Shares on News of Lifting of DTC Chill
IRVINE, Calif., Oct. 24, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, announced that shares of its common stock soared more than 76.47%, and 9,047,554 shares of its stock traded on Tuesday, October 23, 2012 after it reported that the Depository Trust Company (DTC) has lifted the "Deposit Chill" on the Company's stock. All deposit restrictions have been removed, and the Company is now once again fully "DTC Eligible", and has resumed full electronic trading of the Company's common stock.
Encouraged by the news from the DTC, investors quickly purchased the stock at a rate of over 1.20 million shares per hour, or over 20,105 shares per minute throughout the trading day. This was one of the highest volume trading days for 2012 thus far. A total of 9,047,554 shares were traded on Tuesday, which was about 2.35 times the average daily trading volume of 3,844,970 of Universal's shares.
The DTC's removal of the Chill, now allows all shareholders with online brokerage accounts with firms such as Scottrade, ETRADE, TD Ameritrade, and all other full service brokerage firms to purchase, sell and execute their trades in Universal's stock in the standard electronic trading process. This should also increase the trading volume, liquidity, and create a broader distribution of the Company's stock over a greater number of shareholders, stockbrokers and Market Makers in the investment community.
Solomon Ali, Universal's Senior Vice President says, "This was truly a great day for the Company and our shareholders. This was one of the biggest trading days in our history. With the announcement of the lifting of the DTC Chill, and the focus on our push toward profitability, many investors have achieved a greater level of confidence in our Company, and believe Universal to be good long-term investment. We believe this will have a continued long-term sustained positive impact on our stock price, the value of the Company, and bring increased value to our shareholders."
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
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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.