Universal Bioenergy, Inc.

CIK:0001320729|SEC Filings

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
Consolidated Statements of Operations (USD $)	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]
REVENUES	$ 25,713,759	$ 12,400,975	$ 58,291,498	$ 41,286,495
COST OF SALES	25,689,003	12,382,523	58,234,315	41,224,465
GROSS PROFIT	24,756	18,452	57,183	62,030
General and administrative	187,632	291,346	547,911	1,031,564
Sales and marketing		292		28,681
Depreciation and amortization expense	654	654	1,962	1,308
Total operating expenses	188,286	292,293	549,873	1,061,553
LOSS FROM OPERATIONS	(163,531)	(273,840)	(492,691)	(999,523)
Other income	7,260	1,109	21,908	19,597
Initial (loss) on embedded derivatives issued	0	(17,929)	(92,168)	113,929
Change in fair value of derivative liabilities	19,368	(106,176)	323,204	594,305
Interest (expense), including amortization of beneficial conversion feature	(39,004)	(352,229)	(409,775)	(1,418,308)
Total other expense	(12,375)	(475,225)	(156,830)	(690,477)
(LOSS) FROM CONTINUING OPERATIONS	(175,906)	(749,066)	(649,521)	(1,690,000)
(LOSS) FROM DISCONTINUED OPERATIONS - Loss on sale of bio-diesel plant equipment
NET LOSS	(175,906)	(749,066)	(649,521)	(1,690,000)
Net (Loss) attributable to noncontrolling interest	(16,293)	(4,937)	(28,508)	(71,102)
Net (Loss) attributable to Universal	$ (159,613)	$ (744,128)	$ (621,013)	$ (1,618,898)
Weighted average of shares outstanding	2,761,529,934	734,141,137	2,680,940,150	372,427,435

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
Consolidated Statements of Cash Flows (USD $)	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss	$ (649,521)	$ (1,690,000)
Adjustments to reconcile net (loss) to net cash (used in) operating activities: (in use) operating activities
Depreciation expense	3,302	1,962
Common stock issued for services		3,800
Amortization of Beneficial conversion features	626,964	1,053,361
Loss on embedded derivatives	(92,168)	113,929
Accounts recievable	(3,178,431)	1,628,480
Prepaid expenses and other assets	13,736	1,200
Accrued expenses and other liabilities	(22,551)	194,956
Accounts payable	3,229,541	(1,563,143)
Net cash used in operating activities	(69,125)	(184,353)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in participation agreement-see note 10	(10,050)	(30,000)
Net cash provided by (used in) investing activities	(10,050)	(30,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Advance from affiliate	(937)
Principal payments on notes payable and line of credit	21,457	(316,884)
Proceeds from notes payable issued and line of credit	58,327	532,739
Net cash provided by financing activities	77,910	215,855
INCREASE (DECREASE) IN CASH	(1,265)	1,502
CASH and CASH EQUIVILANT BALANCE AT BEGINNING OF YEAR	2,130	1,173
CASH AND CASH EQUIVILANT BALANCE AT END OF YEAR	865	2,675
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid
Taxes paid
Investment in membership acquistion by issuing notes payable		2,000,000
Issuance of common stock for the conversion of debt		485,138
Common stock issued for intangible assets in acquisition
Convertible notes issued for accrued liabilities		18,764
Beneficial conversion feature of convertible notes payable	$ 406,445	$ 1,138,941

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Jun. 30, 2013
CURRENT ASSETS:
Cash	$ 865	$ 2,130
Accounts receivables	12,351,893	9,173,462
Other loans		600
Total current assets	12,352,758	9,176,192
PROPERTY AND EQUIPMENT - net	3,033	6,335
OTHER ASSETS:
Accounts receivables - other	(2,150)	10,050
Investments	2,929,550	2,919,500
Intangible assets	250,000	250,000
Deposit	6,516	7,452
Total other assets	3,183,916	3,187,002
TOTAL ASSETS	15,539,706	12,369,529
CURRENT LIABILITIES:
Accounts payable	12,563,521	9,333,980
Other accounts payable and accrued expenses	299,540	363,922
Accrued interest	166,126	124,949
Line of Credit	7,272	6,618
Current portion of long term debt	892,268	150,821
Derivative liability	145,935	212,683
Advances from affiliates	3,313	4,250
Total current liabilities	14,077,976	10,197,223
Notes payable	332,801	352,150
Notes payable - related parties	48,531	624,098
Total Long term debt	381,332	976,248
TOTAL LIABILITIES	14,459,309	11,173,471
Common stock, $.001 par value, 3,000,000,000 shares authorized; 2,833,340,081 and 2,660,594,986 issued and outstanding as of March 31, 2014 June 30, 2013, respectively	2,833,340	2,660,595
Additional paid-in capital	21,244,145	20,884,031
Noncontrolling interest	(299,487)	(270,979)
Accumulated deficit	(22,698,833)	(22,077,821)
Total stockholders' deficit	1,080,397	1,196,058
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	15,539,706	12,369,529
Preferred Stock Series A
CURRENT LIABILITIES:
Preferred stock, $.001 par value, 10,000,000 shares and 1,000,000 authorized as of March 31, 2014 and June 30, 2013, respectively. Preferred stock Series A, 1,000,000 and 0 issued and outstanding shares March 31, 2014 and June 30, 2013, respectively. Preferred stock Series B, 232,080 issued and outstanding shares March 31, 2014 and June 30, 2013 respectively	1,000	0
Preferred Stock Series B
CURRENT LIABILITIES:
Preferred stock, $.001 par value, 10,000,000 shares and 1,000,000 authorized as of March 31, 2014 and June 30, 2013, respectively. Preferred stock Series A, 1,000,000 and 0 issued and outstanding shares March 31, 2014 and June 30, 2013, respectively. Preferred stock Series B, 232,080 issued and outstanding shares March 31, 2014 and June 30, 2013 respectively	$ 232	$ 232