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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Universal Energy Corp (CE) | USOTC:UVSE | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.000001 | 0.000001 | 0.000001 | 500,000 | 01:00:00 |
Delaware
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80-0025175
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(State or other jurisdiction of
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(IRS Employer
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incorporation)
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Identification No.)
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The lawsuit asserts breaches of the various documents executed by the Company and its subsidiaries in connection with the issuance of the Debentures. In addition to monetary damages, the lawsuit seeks a determination that the Secured Lenders hold a valid lien in certain assets of the Company, seeks an order of foreclosure relating to assets subject to valid lien and the appointment of a receiver.
The Company is assessing its options and will respond to the lawsuit shortly. While the Company is hopeful that a satisfactory resolution of this matter will be achieved, no assurance can be given at this time that this will occur, in which case, if successful in this lawsuit, the Secured Lenders would materially adversely affect the Company's business.
UNIVERSAL ENERGY CORP.
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Date: September 02, 2009
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By:
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/s/ Dyron M. Watford
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Dyron M. Watford
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Chief Financial Officer
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1 Year Universal Energy (CE) Chart |
1 Month Universal Energy (CE) Chart |
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