Universal Bioenergy Inc. (Pink Sheets:UBRG), an alternative energy company, announced today that it is has signed a definitive agreement for the acquisition of Roblex Aviation Inc., for a purchase price of $10.4 million, as part of its continuing plans for growth, and to generate new revenue streams. The Company is also planning more acquisitions and projects in the green technology industry. Formal notification of the transaction has been filed with the Securities and Exchange Commission.
Universal's President, Vince Guest states, "We're very excited about signing the agreement for the acquisition of Roblex, after seven months of intense negotiations. Roblex is a 13 year old, profitable company, and has a solid industry reputation. The acquisition of Roblex will allow us to ship green energy technology products to the Caribbean region, potentially double its size, and create more jobs. We're continuing our quest to grow a strong company, as can be seen from our sales of $13.9 million in the second quarter. We began a strategy this year to acquire new companies, extend our geographic reach, and optimize our shareholders value. We feel this should take us to a whole new level, and have a very positive impact on our company."
"This is really great news for our shareholders. This represents another major milestone for Universal's future. First we acquired NDR Energy Group in April of this year, and now we're acquiring Roblex, as part of our strategy to grow by mergers and acquisitions. We believe, but cannot guarantee, our acquisition of Roblex, with its 42 employees, coupled with our new plans for its expansion, should generate millions of dollars in additional revenue and more profit for Universal annually. After reviewing a number of strategic targets, we feel this acquisition is in the best interests of our shareholders, in terms of greater revenues, profits, assets, and increased market value of our company. We know our shareholders want a good return, and we believe this will significantly increase the value of their investment", says Universal's Sr. V.P., Solomon Ali.
excellent research on UBRG, i own 1.5 mil at .045 will not sell anytime soon, check out the twin brother company CAVR do the same research, sold wind tech to pay down debt and purchase more oil field leases and the board of directors is a dream team, good revenues and should be debt free by fourth qurter with profits , more pr should send higher, i own 400 thousand will not be selling anytime soon i will keep both these companies above 1 dollar, good luck on all your trades
UBRG has a brother, it is CAVR, I own 1.5 mil. of ubrg will be holding, not pumping just informing, take a look at CAVR, it is very sinilar in business anbd has recently sold wind technology to pay down debt and not have to finance a new oil field lease that would dilute the stock, CAVR is less volume but pr is picking up, they have good revenues coming in and the ceo staes will be debt free by fourth quarter and profitable, very nice web site explaining the fracking method as well as the board of directors have diverse expertise that should catpult the company faster than most, not pumping just informing i own both very deep will not be selling anytime soon, im in for 2-3 dollars on each ,ay be year or 2. godd luck on all your trades