JUDGMENTS ENTERED AGAINST DEFENDANTS FOR DISTRIBUTING UNREGISTERED SHARES OF UNIVERSAL EXPRESS INC.

FROM:  U.S. SECURITIES AND EXCHANGE COMMISSION
The Securities and Exchange Commission announced today that the United States
District Court for the Southern District of New York entered an amended judgment
on July 26, 2012, against defendants Michael J. Xirinachs and Emerald Asset
Advisors LLC (Emerald Asset) of Melville, New York, previously finding on August
11, 2011 that they had engaged in an unregistered distribution of billions of
shares of Universal Express Inc. (USXP) between February 2006 and June 2007. The
judgment enjoined Xirinachs and Emerald Asset from future violations of the
securities registration provisions of Section 5 of the Securities Act of 1933,
ordered them jointly and severally to disgorge over $3.8 million in profits plus
prejudgment interest, and pay civil penalties of $3,835,000 based on 590
unregistered transactions; ordered Xirinachs separately to disgorge over
$428,000 in compensation plus prejudgment interest, and pay civil penalties of
$2,119,000 based on 326 unregistered transactions; and barred Xirinachs and
Emerald Asset from participating in penny stock offerings for three years, but
allowed them to purchase penny stocks during that period. The other defendants
were previously sanctioned on September 8, 2011.