On Friday, Universal Bioenergy Inc. (PINK:UBRG) stock closed the market $0.023 higher than the 52-week low. Looks like the promptly disclosed by the company financial statements and the targeted $100 million in revenues for 2011 have not been able to push up the share price.

During the second working day of September, Universal Bioenergy Inc. filed to the SEC the 10-Q for the quarterly period ended June 30, 2011. Even then, the company announced a double-digit revenue growth. UBRG reported that for the entire year 2010 it achieved revenues of $41M, while only for the first six months of this year it booked revenues of $36M.

Though the optimistic data related to generated revenues and promising development perspectives, the financial statements of UBRG had been prepared with a raised doubt about the company's ability to continue as a going concern. As at the end of this June, the company presented an accumulated deficit since inception totaling $17.5M. In addition, in the aforementioned report has been expressed the opinion that “the company has consistently had to raise debt and equity capital to fund cash used in operations.”.

The duly filed by the company financial statements have not been able to rush up the plunging down for months share price.

The management of UBRG has made attempts to prevent the constant rolling down of the share price.

Last Wednesday, Universal's President Vince M. Guest repeatedly released the aforementioned double-digit revenue growth of UBRG. Investors' attention has been also attracted  with the company's projections for the next year. UBRG announced its plans for a 100% increase in revenues to about $100 million for 2011.

In the company's SEC files, investors have been able to see an amendment of the above 10-Q form on the following day. It presented nothing new, but an interactive data of the original filing of the quarterly report.

Even these two attempts to revitalize the interest towards UBRG have not been as successful as probably expected. Last Tuesday has been fatal for UBRG. On over 1.3 million shares changing hands, the company's stock returned 12.09% back to close at $0.04. That was followed by only two trading sessions with an upward move of the share price.

Unfortunately, external for the company factors are maintaining the recent strong bearish mood towards UBRG as well. One of them is that the price of natural gas are in an almost constant decline since this May.