(Source: PRNewswire-FirstCall)
ORANGE, Calif., May 8 /PRNewswire-FirstCall/ -- United Fuel & Energy Corporation (BULLETIN BOARD: UFEN) , a leading distributor of gasoline, diesel and lubricant products to customers in the southwestern and south central U.S. today announced that the company has moved the listing of its common stock from the OTC Bulletin Board to the OTCQX tier market. Effective today, the company's common stock will begin trading on the OTCQX under the symbol UFEN and will cease trading on the OTC Bulletin Board upon deregistration of its shares.
No later than May 14, 2009, the Company will file a Notice of Termination of Registration and Suspension of Duty to File with the Securities and Exchange Commission ("SEC") to terminate its reporting obligations under the Securities Exchange Act of 1934. As a result, the Company will be deregistered and no longer file certain reports with the SEC, including the Forms 10-K, 10-Q and 8-K.
Effective with the filing of the notice to terminate registration with the SEC, William C. Bousema will be terminated without cause as our Executive Vice President, Chief Financial Officer, Secretary and Treasurer and Marilyn A. Lobel will be appointed as our new Vice President, Chief Financial Officer, Secretary and Treasurer. Ms. Lobel, age 56, has served as our Vice President and Corporate Controller since October 2008. From January 2008 to September 2008 she served as the chief accounting officer and corporate controller of Energy Recovery, Inc. where she lead a finance and accounting team through the initial public offering for this U.S. manufacturing company. From March 2007 to December 2007, Ms. Lobel served as corporate controller and corporate secretary of Red.Com, Inc., a privately held company that manufactures digital cinema photography equipment. From February 2006 to March 2007, Ms. Lobel served as the chief accounting officer and corporate controller of Pacific Energy Partners, L.P., a publicly-traded partnership that engaged principally in the business of gathering, transporting, storing and distributing crude oil and refined petroleum products. From June 2004 to December 2005, Ms. Lobel served as the vice president of finance and corporate controller of Biolase Technology, Inc., a public company that manufactures medical devices. From January 2004 to June 2004, Ms. Lobel was an independent financial consultant. Ms. Lobel is a Certified Public Accountant currently licensed in the state of California and holds a B.S. in Business Administration from the University of Nevada.
