L&l Energy Inc (OTC:LLEN)

Item 4.01. Changes in Registrant’s Certifying Accountant.
 

On July 16, 2014, the Company has elected to not re-engage Kabani and Co., Inc. (“FORMER AUDITOR”) as its independent registered public accounting firm effective as of such date.

The Company has not appointed a new independent registered public accounting firm.  The Board of Directors of the Company approved the foregoing dismissal.

The report of FORMER AUDITOR with respect to the Company’s financial statements for the fiscal years ended April 30, 2013 and April 30, 2012 did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope or accounting principles.

Except as set forth below, during the fiscal years ended April 30, 2013 and April 30, 2012 through the effective date of FORMER AUDITOR’s termination there were no disagreements between the Company and FORMER AUDITOR on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of FORMER AUDITOR, would have caused FORMER AUDITOR to make reference to the subject matter of the disagreements in connection with its report on the Company’s financial statements.  As a result of the United States Department of Justice indictment against Dickson Lee, the FORMER AUDITOR has requested that management of the Company provide the FORMER AUDITOR with an updated management representation letter covering its prior audits.  The FORMER AUDITOR has not received such representation letters as of the date hereof.

Item 8.01 Other Events.

On March 27, 2014 the United States Department of Justice unsealed an indictment against L&L’s then Chairman and Chief Executive Officer, Dickson Lee, charging him with securities fraud. Mr. Lee resigned from the Company, effective April 2, 2014. The Department of Justice subsequently amended the previous complaint to include L&L Energy, Inc. as a defendant with Mr. Lee, formally arraigning the Company on May 22, 2014. The Company has pleaded not guilty. It expects that the Superseding Indictment will have a material negative impact on its business, financial condition, and results of operations.

On April 30, 2014 the GeoTeam released the third part of a series of new reports on original evidence used in LLEN investigations, shared with you in the public interest.

The Reality Of L&L Energy’s Hong Xing And DaPuAn Coal Washing Facilities

In today’s report, Part Three, GeoInvesting continues publication of the extensive evidence underlying our September 19, 2013 report accusing L&L Energy (LLEN) of making massive misrepresentations in its SEC filings. Also in today’s report we share new allegations and evidence regarding LLEN’s undisclosed shutdown of the Hong Xing and DaPuAn coal washing facilities.

Please see remainder of report here.

On April 22, 2014 the GeoTeam released the second part of a series of new reports on original evidence used in LLEN investigations, shared with you in the public interest.

GeoInvesting Investigation Shows How A Government Official Confirmed L&L Energy Fabricated Revenues From Its ZoneLin Coking Plant

In today's report, Part Two, GeoInvesting continues publication of the extensive evidence underlying our September 19, 2013 report accusing L&L Energy (LLEN) of making massive misrepresentations in its SEC filings. The public has never seen this evidence, which we shared privately with the SEC, NASDAQ, and LLEN�s terminated independent legal counsel Mr. Mark Bartlett, in order to give them time to conduct their own investigations.

Please see the remainder of the report here.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On April 8, 2014, L & L Energy, Inc. (the “Company”) notified the NASDAQ Stock Market (the “NASDAQ”) of its intention to voluntarily delist its common stock from the NASDAQ. The Company intends to file a Form 25 with the Securities and Exchange Commission on or about April 18, 2014 to effect the voluntary delisting of its common stock from the NASDAQ. The official delisting of the Company’s common stock will become effective approximately ten days thereafter.

The Company anticipates that its common stock will trade on the OTC Markets, although there can be no assurances that any trading market for the Company’s common stock will exist, and the liquidity of such trading market may be limited.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

On April 8, 2014, L & L Energy, Inc. (the “Company”) notified the NASDAQ Stock Market (the “NASDAQ”) of its intention to voluntarily delist its common stock from the NASDAQ. The Company intends to file a Form 25 with the Securities and Exchange Commission on or about April 18, 2014 to effect the voluntary delisting of its common stock from the NASDAQ. The official delisting of the Company’s common stock will become effective approximately ten days thereafter.

The Company anticipates that its common stock will trade on the OTC Markets, although there can be no assurances that any trading market for the Company’s common stock will exist, and the liquidity of such trading market may be limited.

On April 8, 2014 the GeoTeam released the first part of a series of new reports on original evidence used in LLEN investigations, shared with you in the public interest.

Our new series of reports will likely be the closest investors will ever come to knowing the truth about L&L Energy (LLEN).

In today's report, Part One, GeoInvesting begins publication of the extensive evidence supporting our September 19, 2013 report focusing first on the LuoZhou and LaShu coalmines. The public has never seen this evidence. We shared the evidence with the SEC and NASDAQ over six months ago in order to give the securities regulators time to conduct their own investigations. The evidence not only supports our finding that LLEN has misrepresented its ownership in the LuoZhou and LaShu mines, but also proves that LLEN fabricated the production from these two mines to inflate its financials.

Please see the remainder of the report here.

SEATTLE, April 8, 2014 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company with energy (coal) operations in China, today announced that it has notified the NASDAQ Stock Market, LLC ("NASDAQ") of its intention to voluntarily delist its common stock ("LLEN") from the NASDAQ.

On November 18, 2013, NASDAQ placed a T-12 trading halt on L&L's common stock. On March 27, 2014, the Department of Justice and the Securities Exchange Commission announced charges against Mr. Dickson Lee, L&L's former Chairman and CEO. Mr. Lee pleaded not guilty to all charges. Counsel for Mr. Lee commented, "We deny these allegations completely. These charges stem from very old claims that occurred in 2008 and early 2009. At that time, this was a very small company that was just starting to experience substantial growth." Due to the pending charges, Mr. Lee has resigned from his positions as L&L's Chairman and CEO, effective April 1, 2014.

The Company's Board of Directors has voted to submit an advanced notification to NASDAQ of the Company's decision to voluntarily delist its common stock from the NASDAQ. The Company intends to file a Form 25 with the Securities and Exchange Commission ("SEC") on or about April 18, 2014 to effect the voluntary delisting of its common stock from NASDAQ. The official delisting of the Company's common stock will become effective approximately ten days thereafter. The Company anticipates that the Company's common stock will trade on the OTC Markets, although there can be no assurances that any trading market for the Company's common stock will exist, and the liquidity of such trading market may be limited.

The Company will continue to file periodic reports with the SEC pursuant to the requirements of Section 12(g) of the Securities Exchange Act of 1934, as amended.

Independent Directors, Mr. Jingcai Yang and Dr. Syd Peng, along with members of the Company's Executive Management team, will visit multiple L&L offices in China this coming week to meet with joint venture partners and staff to discuss both the short term and long term transition of the CEO position and future strategic plans. The Board will continue to update the Company's shareholders as more material information becomes available.

Summary

• Today’s report, the first in our new “In the Public Interest” series, begins to unveil the evidence supporting our 9/19/2013 LLEN report that we privately shared with regulators last Fall.
• In this part, “Canaries in the Coalmines,” we show, through recorded interviews of mine employees and managers, LLEN fabricated the production of coal from its LuoZhou and LaShu mines.
• The circumstances leading to the indictment and arrest of CEO Dickson Lee barely scratch the surface of LLEN’s massive fraud.

Please see our full report here.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 
On April 1, 2014, Mr. Dickson V. Lee, Chief Executive Officer (“CEO”) and Chairman of the Board of Directors (“Chairman”) of L & L Energy, Inc (the “Company”) notified the Company’s Board of Directors that he is resigning his position as CEO and Chairman, effective immediately. Mr. Lee resigned for personal reasons and not due to any disagreement with the Company. On March 27, 2014, the United States Department of Justice unsealed an indictment against Mr. Lee. Mr. Lee has pleaded not guilty to the charges brought forth against him.

SEATTLE, March 17, 2014 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S. based company with coal mining and distribution businesses in China, announced today that its Special Independent Committee ("SIC" or the "Committee") has appointed Mr. Nicholas Chen, Managing Partner at Pamir Law Group, to replace Mr. Mark Bartlett.

Mr. Chen is a well-known international lawyer with substantial cross border experience working in the US, China, and Taiwan. His firm, Pamir Law Group, is an international law and consulting firm based in Asia with offices in Beijing, Shanghai and Taipei. Pamir's multilingual professionals represent clients in a broad range of industries, including multinational Fortune 100 companies. Previously, Mr. Chen was a partner in several US based global law firms. Mr. Chen is US citizen with a B.A from Yale University and a J.D. from New York University School of Law. He is fluent in both English and Mandarin.

Mr. Jingcai Yang, SIC Chairman and former senior executive for the world's largest coal company, Shenhua Group, commented, "I want to thank Mr. Bartlett for his work thus far in assisting the committee. However, I look forward to the unique skill set that Mr. Chen will bring. He is a very accomplished international attorney with strong legal and business acumen dealing specifically in Asia. His language capabilities and tremendous understanding of the Chinese business environment will be important assets to the Committee as we look to complete our investigation as timely as possible."

SEATTLE, Jan. 14, 2014 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company with energy (coal) operations in China, today announced that the Company's Special Independent Committee (the "Committee") has selected Ernst & Young Advisory Services Limited ("EYASL") to support its independent investigation. Management also provided an update on its communications with NASDAQ.  

Engagement of Ernst & Young Advisory Services Limited

On September 20, 2013, the L&L Board of Directors formed a Special Independent Committee to conduct a review of the allegations made by the short seller blog released on September 19, 2013. Mark Bartlett of Davis Wright Tremaine ("DWT") was retained by the Committee as its legal counsel. The Committee authorized DWT to engage EYASL to conduct independent forensic investigative procedures, which will assist the Committee's investigation into the short seller allegations.

Management Provides Update on Communications with NASDAQ

On November 18th, NASDAQ's staff placed a T-12 trading halt on L&L's common stock pending requests for additional information. The Company has responded and L&L's senior management met with NASDAQ officials at their offices in Rockville, MD onJanuary 6^th. During the meeting L&L's Chief Financial Officer, Mr. Ian Robinson, shared information from his recent visit to Hong Xing and meetings with customers. The Company will continue to be in regular communication with NASDAQ.

Second Quarter 2014 Financial Results

• Revenue was $43.0 million in the second quarter, a decrease of 6% from $45.5 million in the same quarter last year.
• Diluted per share earnings attributable to L&L common shareholders was $0.03 in the second quarter vs. last years $0.15

L&L's Chief Financial Officer, Ian Robinson, commented, "The second quarter of fiscal 2014 was challenging, as we responded to inaccurate and defamatory attacks on our company and reputation. We formed a special committee of independent board members to review the allegations and have provided them with detailed documentation to refute the claims. On November 18^th, NASDAQ placed a T-12 temporary trading halt on our stock pending a request for additional information. The Company has responded to the request and continues to be in steady communication with NASDAQ. L&L shares will remain halted until NASDAQ completes their review of the information provided."

Robinson continued, "In spite of our challenges, we continued strong execution of our coal operations and expansion of our clean energy initiatives. On target growth of our coal mining production continues to deliver good operational results. However a onetime non-cash charge reduced our net income by $6.1 million to $1.4 million for the quarter. During the second half of fiscal 2014, we remain committed to our growth plans which include acquiring additional mining operations, expanding our wholesaling business, pursuing new clean energy projects, and completing our TDR listing."

SEATTLE, Nov. 20, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with profitable energy (coal) operations in China, announced that on Tuesday it received a formal request from NASDAQ for additional information. On Monday, November 18, 2013, NASDAQ placed a T12 temporary trading halt on L&L's common stock.  NASDAQ informed the Company that trading will remain halted until L&L has satisfied NASDAQ's request for additional information. The Company has been in steady communication with NASDAQ and now that we have received the request will move as quickly as possible to fulfill it to their satisfaction.

On 1/13/2012 we published our first article on LLEN regarding  our opinion that the company was  misrepresenting its alleged ownership claims in one of its mining  assets , the  Ping Yi Mine.  We followed this report with a series of other updates that further explained more of LLEN’s issues and additional meaningful misrepresentations made by the company.  Here is the chronology and evolution of our research and due diligence on the company:

SEATTLE, Nov. 14, 2013 /PRNewswire/ -- L&L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company with a profitable energy (coal) operations in China, today management has provided a point-by-point rebuttal to the false and misleading GeoInvesting article posted on SeekingAlpha on September 19, 2013. 

The Company is focused in particular on refuting two (2) allegations made by GeoInvesting.  The first relates to L&L's ownership and operational status of the Hong Xing coal washing facility ("Hong Xing").  The second relates to the November 2012 transaction in which L&L transferred its ownership interests in the DaPing Coal mine and Zonelin Coking facility to Union Energy, in exchange for the LuoZhou and LaShu Coal mines. A full list of the allegations with responses is provided at the end of this response.  

1.  Hong Xing Washing Facility Ownership and Operational Status:

The allegation that Hong Xing was closed in 2012 is false.  L&L confirms that Hong Xing operated during the entire fiscal year endedApril 30, 2013. The Company temporarily suspended operations at Hong Xing in July 2013 in order to redirect corporate cash flow to its coal wholesale business.  Hong Xing last processed 12,124 tons in June 2013 and 13,449 tons in May 2013.  L&L has produced invoices, payroll records, cash disbursement, receipts, and other documentation that clearly demonstrate that the facility was open during the entire period in question.   

The GeoInvesting article also attempts to draw the conclusion that Hong Xing was not operating by citing low tax payments to the Second Branch of Shizong County Local Tax Bureau ("the Second Branch").  The Second Branch serves a local county jurisdiction and is not responsible for national tax collections.  The Second Branch is a county tax agent that is only responsible for the county's special surcharges and taxes, including local education and construction surcharges.  These surcharges are generally small.  The article misrepresents that this local agency is responsible for collecting all taxes owed by Hong Xing.  Hong Xing pays sales and income taxes to the proper national and provincial Chinese authorities.

The Company has made all relevant Hong Xing tax filings for sales and taxes, as well as a copy of Hong Xing's most recent SAIC filings available to the Board and the Committee. Investors should note that State Administration Tax records, not SAIC filings, are the proper tax documents reviewed by independent auditors in conjunction with annual audits.

Contrary to GeoInvesting's claim, China's tax information is normally not made publicly available by local tax bureaus.  The Second Branch indicated to L&L in writing that it refused requests for Hong Xing tax filings from an unidentified party in the relevant period. The Company questions the credibility of the claims in the article that refer to any Hong Xing tax records.  The Company produced the written statement from the Second Branch indicating the attempted unauthorized access of confidential tax records.

Finally regarding Hong Xing, GeoInvesting's article attempts to question the validity of L&L's reported results by confusing the ownership structure of Hong Xing and other coal washing plants used by the Company.  During the period in question, L&L owned two (2) washing facilities, DaPuAn and Hong Xing.  Hong Xing is owned via a subsidiary, Tai Fung.  Tai Fung also has access to a third party washing facility, HunTai.  Tai Fung generates coal washing revenue both from Hong Xing and HunTai.  During fiscal 2013, Hong Xing/Tai Fung represented approximately 20% of consolidated total company sales, not 39% as alleged by GeoInvesting, while HunTai/TaiFung represented approximately 19% of Company sales. Both facilities in total represented 39%, GeoInvesting's claim of 39% is wrong.

Although the Company has previously disclosed this ownership structure, the article claims that L&L's description of its growth is inconsistent with this revenue structure, and is thus misleading.  In fact, during the fourth fiscal quarter conference call on July 31, 2013, L&L management discussed coal washing results in the context of year-over-year comparisons.  Coal washing production did in fact increase "modestly" year-over-year from 434,000 tons in FY 2012 to 474,000 tons in FY 2013.

2.  LouZhou and LaShu Mine Acquisitions:

The second major allegation focuses on the November 2012 transfer of the DaPing Coal Mine and Zonelin Coking facility to Union Energy, in exchange for the LuoZhou and LaShu Coal Mines.  Effective on November 18, 2012, L&L transferred cash, its 60% ownership in DaPing mine, and its 98% interest in Zonelin to Union Energy in exchange for a 95% interest in the LuoZhou and Lashu mines.  An independent audit firm rendered a fairness valuation report on the transaction, in addition to the Company's auditors approval.  L&L produced for the Board and the Committee the fully executed acquisition agreements, the fairness valuation report, and other documents verifying the transaction. 

Despite attempts by GeoInvesting to confuse the relationship between L&L and Union Energy, the partnership is in fact straightforward and fully disclosed.  Over time, L&L has joint-ventured with Union Energy in owning and operating the LuoZhou, Lashu and Weishe mines.  The Company elected to continue using the Union Energy's name for those mines because of its strategic value:  First, Union Energy has developed great goodwill by operating a number of mines in the area. Second, as a named consolidator, any mine affiliated with Union Energy has complied with the provision in the Guizhou Province's consolidation policy that encourages smaller mines in similar geographic areas to be affiliated with larger mining companies that possess an annual production capacity of 1-2 million tons.  Union Energy is a reputable company in the region.  The fact L&L opted to not change the name of the mines or signage at the mines has no bearing on the validity of L&L's ownership rights.

L&L has acted to comply with the law governing coal mine consolidation in Guizhou province, yet GeoInvesting's allegations demonstrate their fundamental misunderstanding of this policy, and Chinese business practice in general.  Union Energy still owns DaPing Mine, but to satisfy administrative requirements under the Guizhou coal mine consolidation policy, DaPing is affiliated with another ownership group in the same region.  This affiliation arrangement is purely administrative, and has no influence on ownership rights or the economic benefits that will accrue to Union Energy. 

The allegation is false that Zonelin was torn down and not operational prior to L&L's transfer of ownership to Union Energy.  Zonelin produced 21,042 tons during the second quarter of FY2012 (ended October 31, 2012) and 3,392 tons during the 18 days L&L owned Zonelin in November 2012.  The Company has produced documentation to substantiate this production, as well as a satisfaction letter from Luoping National Tax Bureau stating all taxes owed by Zonelin as of December 2012 were paid.  In addition to the licenses, equipment, and other intrinsic value of Zonelin, Union Energy informed L&L that it collected government subsidies and tax credits as part of a government program to improve coking plants in the region.  This activity took place subsequent to the transfer of ownership to Union Energy.

Summary of GeoInvesting Allegations and L&L Responses.

The list below summarizes the false GeoInvesting's allegations, and L&L rebuttal to refute the allegations;

1)  "LLEN's Hong Xing Coal Washing Factory, accounting for 39% of fiscal 2013 revenues, has been shut down since 2012."

As noted above, L&L produced for its Board and the Committee invoices, payroll records, cash disbursement, receipts, and other documentation that clearly demonstrate that the facility was open during the entire period in question. As explained above, GeoInvesting's 39% was wrong.

2)  "Hong Xing did not file or pay any taxes to the Shizong County Local Tax Bureau..."

As noted above, this bureau serves a local (county) jurisdiction and is not responsible for national tax collections.  The Company produced to the Board and the Committee all relevant tax filings for sales and national taxes, as well as a copy of its most recent SAIC filings. The Shizhong (National) State Tax Bureau issued a satisfaction letter to L&L on October 25, 2013 stating that all taxes have been paid and Hong Xing is in good standing.

3)  "On July 31, 2013, the LLEN management team falsely claimed in its fiscal 2013 earnings conference call '...we've been trending up modestly on the coal washing side...'"

As noted above, during this conference call L&L management correctly discussed coal washing results in the context of year-over-year comparisons.  Coal washing production did in fact increase "modestly" year-over-year from 434,000 tons in FY 2012 to 474,000 tons in FY 2013.

4)  "LLEN's purportedly revenue producing Zonelin Coking Plant was shuttered and demolished a few months prior to LLEN's claimed$12.4M sale/exchange of Zonelin Coking Plant."     

The allegation that Zonelin was torn down and not operational prior to L&L's transfer of ownership to Union Energy is false.  Zonelin produced 21,042 tons during the second quarter of FY2012 (ended October 31, 2012) and 3,392 tons during the 18 days L&L owned Zonelin in November 2012.  The Company has produced documentation to substantiate this production, as well as a satisfaction letter from Luoping National Tax Bureau stating all taxes owed by Zonelin as of December 2012 were paid.  In addition to the licenses, permits, and other intrinsic value of Zonelin, Union Energy informed L&L that it collected government subsidies and preferential treatment as part of a government program.  This activity took place subsequent to the transfer of ownership to Union Energy.

5)  "The government mandated decision to shut down the Zonelin Coking Plant was first issued on June 6, 2012.  On September 10, 2012, the demolition was scheduled."

As early as June 2012 the Ministry of Information and Technology of the People's Republic of China declared its intent to encourage cleaner and more efficient production at smaller coking plants. The allegation implies that Zonelin was torn down in September and not operational prior to L&L's transfer of ownership to Union Energy is false. Union Energy has informed L&L that parts of the facility have been torn down pending further evaluation. This happened after L&L transferred ownership to Union Energy. Union Energy also informed L&L that it collected government subsidies and preferential treatment as part of the government program.

6)  "LLEN does not own the Hong Xing Coal Washing Factory according to officially chopped (sealed) SAIC records."

As noted above, GeoInvesting does not know Hong Xing is owned by L&L via a subsidiary, Tai Fung.  Tai Fung generates coal washing revenue from Hong Xing and a third party facility, HunTai. 

7)  "Officially chopped SAIC filings show that neither Union Energy nor LLEN own the DaPing mine and Zonelin Coking Plant."

GeoInvesting is not aware that in order to satisfy administrative production requirements under the Guizhou Provincial coal consolidation policy, DaPing is administratively affiliated with another ownership group in the region.  Regarding Zonelin, L&L has produced documentation to affirm its ownership prior to the November 18, 2012 transfer.  Our partner, 2% owner, and listed legal representative for Zonelin�prior to its transfer�was Mr. Laozhong Yang.  As the law allows, the SAIC filing bears the name of Mr. Yang.  (Mr. Yang is also the Company's local partner in the Hong Xing Washing Plant.)  The Company cautions investors to understand that in China, legal representatives can be cited in SAIC filings even if they are not the owners of a company.

8)  "The demolition of the Zonelin Coking Plant prior to its alleged swap to Union Energy casts doubt on LLEN's acquisition of the LuoZhou and LaShu mines..."

As noted above, Zone Union Energy has informed L&L that parts of the facility have been torn down pending further evaluation.  The Company has produced documentation to substantiate production before the transfer in November 2012 as well as documents to substantiate its transfer of ownership to Union Energy.

9)  "The Chinese government assigned the right to consolidate the DaPing mine to another company (not Union Energy)..."

As noted above, in order to satisfy administrative production requirements under the Guizhou Provincial coal consolidation policy, DaPing is administratively affiliated with another ownership group in the region. Union Energy is located in North Guizhou.

10)  "Current SAIC filings show that Union Energy owns the LuoZhou and LaShu mines."

As noted above, L&L has joint-ventured with Union Energy in owning and operating the LuoZhou, LaShu and Weishe mines.  L&L produced to the Board and the Committee the fully executed acquisition agreements, a fairness letter, and other documents verifying the transaction.  Union Energy is a strong, reputable company in the region and the current ownership structure allows the Company to enjoy the benefits of their brand while reducing mining risks to the Company.  The fact L&L opted to not change the name of the mines or signage at the mines has no bearing on the validity of L&L's ownership rights. If GeoInvesting only reviewed the SAIC filings, it would not understand the ownership structure.

11)  "Interviews of Union Energy management who all repeatedly assert that, while they are familiar with LLEN, Union Energy, not LLEN, is the owner of the LuoZhou and LaShu mines."

L&L does not know the identity of the "Union Energy management" who made these assertions, but the Company acknowledges that some employees outside of the senior leadership at Union Energy may have misunderstood the ownership structure and misrepresented it to GeoInvesting.  As noted above, L&L has joint-ventured with Union Energy in owning and operating the LuoZhou, LaShu and Weishe mines, and the mines continue to enjoy partial ownership by Union Energy and signage and other outward indications of Union Energy's participation in the ventures.  L&L produced for the Board and the Committee the fully executed acquisition agreements, a valuation fairness letter, and other documents verifying the transaction.

12)  "Articles in local PRC newspapers and official government websites clearly show that Union Energy, not LLEN, acquired and owns the LaShu and LuoZhou mines."

As noted above, L&L has joint-ventured with Union Energy in owning and operating the LuoZhou, LaShu and Weishe mines. Local websites indicate the name of Union Energy because the Company, for strategic reasons, has decided not to change the name of the mines when L&L acquired them.  L&L produced for the Board and the Committee the fully executed acquisition agreements, a valuation fairness letter, and other documents verifying the transaction.

13)  "Signage apparently recently erected at both mines bears Union Energy's name, not LLEN's."

As noted above, L&L elected to continue using the Union Energy name for those mines because of its strategic value.  The Company believes that Union Energy has developed much goodwill by operating or affiliating with a number of mines in the area.  As a named consolidator, any mine affiliated with Union Energy has complied with Guizhou Province's consolidation policy.

14)  "Union Energy's participation in the Guizhou provincial mine consolidation process is ongoing and well documented.  Union Energy was assigned to acquire the LuoZhou and LaShu mines in March 2013 and just finalized the acquisition of mining rights for both mines in August 2013."

Union Energy owned both LuoZhou and LaShu since 2011. In November 2012, the L&L acquired controlling interest in both mines from Union Energy. The announcement in August 2013 that GeoInvesting cites mischaracterizes a purely administrative announcement that approved a backlog of previously filed mining right assignments including LuoZhou and LaShu. This was done after the government finalized parts of the consolidation policy and issued a letter to the mines in June 2013.

15)  "The nominee who claimed to hold LLEN's equity ownership in the DaPuAn mine and SuTsong mine is an individual who appears not to exist."

Mr. Jun Han's identification number was improperly recorded when filed with the local business registration office.  Mr. Han's correct identification number is 530102 1959 1104 2119.

16)  "LLEN made a misrepresentative statement regarding the legal status of the DaPuAn mine and SuTsong mine."

Again, GeoInvesting is not familiar with China laws, nor understands fully our company's subsidiaries. Thus, GeoInvesting confused the Company's legal structure, and status.  The law of Yunnan Province changed in the past requiring the sole proprietorship ownership of DaPuAn Mine to be owned by a legal entity, a one-man company that is not available in the US. In addition, in China, the law allows a legal person to represent an entity as an agent of the real owner, which is not also available under the US law.  Accordingly, the ownership of DaPuAn Mine was changed from a sole proprietorship to Shizong Hengtai Coal Mining Co, Ltd.  L&L later entered an agreement with the legal person of Shizong Hengtai Ltd; Mr. Laozhong Yang, who is our local partner, after DaPuAn Mine was renamed. In the agreement signed by Shizong Hengtai and L&L on June 21, 2012, it confirms that L&L owns 80% of the equity of Shizong Hengtai Coal Mining Co., Ltd. The Company produced for the Board and the Committee appropriate documents supporting the name changes, including fully executed agreements and legal opinions from the large, reputable law firm; (Beijing) DaCheng Law Firm.

SEATTLE, Nov. 12, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company with profitable energy (coal) operations in China, today provided an update regarding its investigation into the allegations posted by GeoInvesting in an article on SeekingAlpha on September 19, 2013.

The L&L management team has authored a detailed report that refutes each allegation made by GeoInvesting.  The report includes fully executed acquisition agreements, legal opinions, and supporting documents including fairness valuations reports, tax filings, invoices, receipts, payroll records, SAIC filings, and correspondence, to rebut the allegations.  The Company has made the report and all documentation available to its Board of Directors (the "Board") and the Board's Special Independent Committee ("the Committee").  

Upon evaluation by the Committee, the report and related documentation will be disclosed to the general public.

In evaluating the allegations presented by GeoInvesting, L&L cautions investors to consider the motives of all parties involved.  L&L is a Seattle based company governed by the laws of the United States, overseen by a Board of Directors consisting of leaders in the industry.  L&L has made significant investments in China over past the 18 years, which have leveraged Chinese economic growth in order to create shareholder value.  In contrast, GeoInvesting is a small firm actively engaged in suspicious short-selling.  It publishes what L&L believes to be defamatory reports, using false identification and deceptive tactics to collect misleading information.  L&L believes that its report to the Committee fully refutes GeoInvesting allegations, and looks forward to disclosure the report to the public in due time.

L&L management will continue to focus its resources on building a world class energy company, via acquiring additional mining operations, expanding wholesaling business, pursuing new clean energy projects, and completing its TDR listing.

SEATTLE, Oct. 28, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, today announced that it signed a strategic marketing agreement with Guizhou Zheshang Coal Group ("Zheshang").  Under the agreement, L&L will utilize its extensive customer network to market coal produced by Zheshang.  L&L will be responsible for customer relationships, transportation and logistics, while Zheshang will be responsible for mining production, and mine safety.  The partners are targeting sales of approximately 1.2 million tons of coal per year.

Zheshang is a privately held company located in Guizhou with 10 mines that produce approximately 2 million tons per year. Zheshang is currently expanding their targeted annual production to 5 million tons.

Walter Lin, L&L Vice President of China Operations commented, "L&L is pleased to work with Zheshang Coal Group again, building on previous successful partnership efforts.  Given the large size of the agreed tonnage, L&L and Zheshang will scale its sales up in phases. With expected prices around $115 or RMB714 per ton, the financial impact will be significant.  L&L is continuing to build an extensive sales and distribution capability, and with this supply agreement we will meet customers demand beyond our own production capacity."    

SEATTLE, Oct. 15, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the Company"), a U.S.-based company with profitable energy (coal) operations in China, and seeking to expand into China's clean and environmental initiatives, is pleased to announce entry into an agreement with WanYuan Environmental Protection Ltd. ("WanYuan") for broad based business initiatives. WanYuan is a Chinese sewage treatment company with a track record of over ten years of experience and processing capacity approximating 200 thousand tons per day. WanYuan seeks to expand into clean energy initiatives while also raising its capacity to 500thousand tons per day. L&L intends to partner with WanYuan to assist their growth through a combination of access to the China Low-Carbon Industry Investment Center ("CLCIIC"), western-style management, and fund raising from Chinese banks and international sources.

Dickson Lee, Chief Executive Officer of L&L Energy Inc., commented, "L&L put an early emphasis on coal washing, which has reduced sulfur and other emissions in the regions we operate. We look forward to applying those same principles with the CLCIIC project and WanYuan. As China continues to put more emphasis on clean energy and renewables, we believe WanYuan's model for leveraging China's need for renewable sewage facilities will be an attractive opportunity for us and our partners moving forward.  This is a strong but measured first step in increasing our footprint in the industry and bringing value to our CLCIIC relationship."

Haichao Wang, Chief Executive Officer of WanYuan, added, "L&L is the perfect partner for us as we expand beyond environmental remediation and into cleaner energy sources.  L&L's business relationships and US expertise will enable both companies to capitalize on exciting new market opportunities."

On October 7, 2013 L&L Energy (LLEN) issued yet another misrepresentative press release, in which the company tried to attribute nearly half of its fiscal 2013 coal-washing revenue to a second previously undisclosed facility that LLEN refers to as “TaiFung”.

Never, in any of LLEN’s public filings, is there any mention of a TaiFung coal washing facility.

Please see our entire article here.

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SEATTLE, Oct. 7, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with energy (coal) operations in China, today released additional information to refute the recent defamatory article by short-seller firm, GeoInvesting.  In addition to contracts, legal opinions and other supportive evidence already produced, the Company has collected additional documents refuting allegations that its Hong Xing's coal washing facility ("Hong Xing") was shut down since 2012 and produced no revenue.  The Company has collected the following documentation and explanatory material, which will be also shared with the proper authorities.

• During the period in question, L&L operated two (2) washing facilities, Hong Xing and TaiFung.  During fiscal 2013, Hong Xing washing only represented approximately 20% of consolidated total company sales (not 39% as alleged by GeoInvesting), while TaiFung washing represented approximately 19% of company sales.  As previously disclosed, the Company idled Hong Xing plant this summer to redirect its capital investment to fulfill a large wholesale supply agreement with Datang.  The Company has submitted a monthly sales analysis to auditors that reflects the reduction of activity at Hong Xing from May to June 2013.  Hong Xing ceased operations as of June 30, 2013 and produced no revenue in July 2013.

In addition, GeoInvesting's allegation that they "sent [a] representative to visit the Shizong County Local Tax Bureau, Second Branch [and t]he local tax bureau confirmed that the Hong Xing Coal Washing Factory paid less than RMB 30,000 to the Shizong County Local Tax Bureau," fundamentally misrepresents how Chinese tax collections operate.  Hong Xing pays taxes to the proper Chinese authorities for its sales.  The Shizong County Local Tax Bureau, Second Branch ("Second Branch") is a county tax agent that is only responsible for the county's special surcharges and taxes, including local education and construction surcharges. The surcharge amount is generally small. 

Furthermore, L&L believes that the Second Branch refused to give any information to GeoInvesting's investigators.  A certification received from the Second Branch states that it recently rejected a request from an unknown party to review Hong Xing's data.  The requesting party failed to provide proper identification.

L&L will provide all relevant documentation, including the Second Branch's certification, to the proper authorities.

It’s been 13 days since we published our “Whistle Blower” report on LLEN when we presented several pieces of evidence to support our opinion that LLEN has been misrepresenting its operations to investors. The National Business Daily (“NBD”), a national financial newspaper in China, published an article that confirmed some of our findings. This article will continue to address details around LLEN issues and summarize a followup article published by NBD that continues to confirm our evidence. But first we think its imperative to expand on a topic we touched upon regarding a highly dilutive debt for equity exchange transaction.

Please see our entire article titled,"Huge Undisclosed Dilution and Further Misrepresentation in L&L Energy’s Response to GeoTeam’s Findings" here.

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SEATTLE, Sept. 27, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, today announced that several members of its management and Board of Directors are increasing their ownership of L&L shares.  The Company believes that the increase in share ownership demonstrates the collective commitment by management and the board to the success of L&L.  The increase also demonstrates their belief that the Company's shares are significantly undervalued.

Mr. Dickson Lee, the Company's Chairman and Chief Executive Officer, recently took possession of 750,447 shares of company stock previously pledged as collateral for a personal loan, a transaction by Mr. Lee that required a cash outlay of over $1 million.  This transaction was disclosed in a Form 4 filing with the SEC yesterday.  Mr. Clayton Fong, Vice President of US Operations, has agreed to take company shares in lieu of cash salary. Finally, several board members have agreed to take a substantial portion of their director fees in the form of equity rather than cash. L&L directors' cash fees include $80,000 annually per director, where directors may substitute equity for any percentage of their cash fee. Two directors have elected to receive their entire board fee in equity.

Mr. Lee commented, "Our Board of Directors and management team are confident in our business strategy and outlook, and believe the shares are significantly undervalued in the wake of the recent short-seller allegations.  All of our key senior people are increasing our stake in the Company, at a real cash cost to ourselves, in order to fully demonstrate our commitment to L&L.  Our interests are fully aligned with our shareholders, since our financial success hinges on the value of Company shares as well.  We look forward to fully putting to rest the unfounded short-seller accusations in the near future, and refocusing on capturing the exciting growth opportunities in front of us."

SEATTLE, Sept. 25, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, today reaffirmed its ownership of the Luozhou and Lashu Mines  and clarified previously released statements that responded to allegations made by short-sellers.

In November 2012, L&L acquired a 95% equity stake in the Luozhou and Lashu Mines. L&L accomplished this by purchasing 95% interests in two Union Energy subsidiaries, Guizhou Union Energy Shun Da Inventory and Transport Corporation and Guizhou Union Energy WuZhou Energy Development Corporation, which previously owned 100% interest in both of the respective mines.

In a press release dated September 24, 2013 the Company stated that in the Company's SEC Form 10-K for fiscal 2013, "the Company clearly states that it acquired the mines by purchasing equity interests in Union Energy subsidiaries."  The release goes on to state that "the Company completed the acquisition by obtaining a 95% equity interest in two entities, 'Guizhou Union Energy Shun Da Inventory and Transport Corporation', the owner of LuoZhou Coal Mine and 'Guizhou Union Energy WuZhou Energy Development Corporation', the owner of LaShu Coal mine."

To clarify the statement quoted above the 10-K only discloses that the Company did complete the acquisition by purchasing 95% interest in both the Luozhou and Lashu mines from Union Energy through an equity ownership transfer agreement. The additional disclosure of the names of the two Union Energy subsidiaries were made to respond to short sellers questioning of L&L's ownership of mines that do not bear L&L's name. Retaining the name of Union Energy, our joint venture partner and a reputable and well-connected mining group in the region, on our operating businesses in no way influences L&L's ownership rights.

SEATTLE, Sept. 24, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, announced today that management has produced key documents to the special committee of independent directors to repudiate the short seller allegations posted by GeoInvesting. 

The GeoInvesting report alleges that L&L does not own the LuoZhou and LaShu mines.  The claim hinges on the fact that the mines are owned by an entity not named "L&L Energy."  In the company's SEC Form 10-K report for the year ended July 31, 2013, the company clearly states that it acquired the mines by purchasing equity interests in Union Energy subsidiaries.  The Company completed the acquisition by obtaining a 95% equity interest in two entities, "Guizhou Union Energy Shun Da Inventory and Transport Corporation", the owner of LuoZhou Coal Mine and "Guizhou Union Energy WuZhou Energy Development Corporation", the owner of LaShu Coal mine.  The Company supplied to its independent board committee the following documents: the equity acquisition agreement; a supplement that explains the deal structure; a Proof of Purchase Status document stating that L&L fulfilled its payment obligations under the agreement; and a legal opinion from DaCheng Law Offices that confirms L & L's controlling interest in the LuoZhou and LaShu mines.  Similarly, allegation 7 purports that SAIC filings show that neither Union Energy nor L&L own the DaPing mine and ZoneLin Coking Plant.  The Company has provided to its committee both the original and translated versions of the Acquisition Agreement of DaPing Coal Mine, and an original copy of the ZoneLin Acquisition Agreement.

The Company is still collecting all relevant documents and is making progress in delivering evidence to the committee of independent board members.  The committee is to examine all information with a critical eye and formulate their independent opinion to the public in due time.

SEATTLE, Sept. 20, 2013 /PRNewswire/ -- L&L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, today announced that it has formed a special independent committee to conduct a review of the allegations made by the GeoInvesting blog released yesterday.

The special committee is chaired by Mohan Datwani, Chair of the Audit Committee and independent director. Mr. Datwani, an experienced attorney, was formerly a partner of a large international law firm. Three other Independent Directors have also been appointed to the special committee: Joe Borich, a career federal official and former US Consul General to Shanghai under the US Embassy to China, Dr. Syd Peng, PhD., a world renowned underground mining expert, and Jingcai Yang, former senior executive for the world's largest coal company, Shenhua Group.

Mark Bartlett of Davis Wright Tremaine ("DWT") has been retained by the committee as legal counsel.  Mr. Bartlett formerly served as a First Assistant U.S. Attorney with the U.S. Department of Justice for nine years.

The special committee will conduct an independent and thorough review of the allegations in the GeoInvesting blog and intends to make the appropriate disclosures to shareholders promptly upon completion of the review. Further, the special independent committee will instruct the Company on further legal matters.

L&L Energy (LLEN) purports to be an American company engaged in producing, processing, and selling coal in the People's Republic of China with vertically-integrated operations that include mining, washing, wholesale, and distribution. GeoInvesting is preparing to file a whistle-blower report to the NASDAQ and SEC that will accuse L&L Energy of defrauding investors by booking substantial revenue from operations that have been idled for quite some time. GeoInvesting also believes that LLEN's string of acquisitions and divestitures of various properties over the last few years amounts to a bait and switch shell game where it claimed to come into possession of assets through swap transactions that never occurred through the exchange of assets it never owned in the first place. Most notably, we will show that revenue of $77.6 million disclosed in LLEN's 2013 10K, generated from its Hong Xing coal washing factory, was actually close to zero, if it is not actually zero.

Please see our entire report first viewed by our Premium Members here.

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SEATTLE, Sept. 16, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, announces that it has reached a strategic agreement with the China Low-Carbon Industry Investment Center ("CLCIIC"), a China national investment platform approved by the China State Council, to jointly develop new energy initiatives in Beijing City, China's national capitol.

China is one of the world's largest energy markets and accounts for more than half of worldwide coal consumption.  CLCIIC was created with support from the (China) National Development Bank, and the National Development and Reform Commission ("NDRC").  L&L is the first US company to partner with CLCIIC to help it to fulfill its mission of environmental protection and energy savings. 

In particular, CLCIIC has invited L&L to build new energy projects using low-carbon & new energy technology on CLCIIC's land located at an industrial park in Zhuozhou City, Hebei Province, approximately 30 miles from the center of Beijing City. One project plans to use advanced technology to convert waste and produce methanol blend gasoline.  Other projects will address waste removal and incineration, sewage treatment, and the reduction of air pollution, in particular, the reduction of sulfur dioxide and nitrous oxide emissions in coal fired plants.  In the future the flagship projects should be replicable to all 30 provinces in China. L&L used its wholly owned subsidiary, Repulse Bay Inc., to execute the Beijing agreement.

Managing Director of CLCIIC, Zhang ZouYu, commented, "I'm very pleased to work with L&L Energy, an outstanding US energy company with a fully committed management team to start this Beijing project." Mr. Zhang continued, "L&L's in-China experience will be critical to ensure a smooth operational jump start into our new and clean energy initiatives in Beijing.  L&L can also help recruit additional US energy companies to help balance environmental protection, while meeting China's growing energy needs."

Dickson Lee, CEO of L&L Energy, Inc., commented: "With our hard work and preparation since 2012, and the recent opening of ourBeijing office in 2013, we are excited to enter this partnership with CLCIIC, an energy investment arm of the China State Council. Together we will start our clean energy business in North China, while L&L also maintains its traditional energy (coal) operations in South China.  We look forward to having profitable Beijing operations in the future."

First Quarter 2014 Financial Results

• Revenue up 29% y/y to $51.2 million from 39.4 million
• Diluted earnings per share up 108% y/y to $0.27 from $0.13.

"The first quarter of fiscal 2014 was one of progress and growth for L&L," stated Clayton Fong, Vice President of US Operations for L&L Energy. "Coal production increased significantly, revenue grew impressively, and we improved profitability as we rework our mix of business toward more profitable segments. Our balance sheet remains strong. We will further enhance our ability to fund growth with our upcoming Taiwan Depository Receipt listing. We believe we are poised for meaningful success in the quarters ahead."

SEATTLE, Aug. 21, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable coal operations in China, today provided an update on its Taiwan Depository Receipt ("TDR") project.

TDR Application to be Submitted in September 2013
As previously announced, KPMG has completed and issued unqualified opinions on L&L's FY 2012 and 2011 financials, and is in the process of completing its review of L&L's recently filed FY2013 financials.  Taishin Securities, L&L's underwriter, is on schedule to complete the necessary documents for the TDR issuance.

Management expects to submit the formal TDR application to the Taiwan Stock Exchange ("TSE") in September 2013.

Potential Dividend in Connection with TDR Listing
L&L has noted that companies listed on the TSE generally issue cash dividends each year.  Management is currently in discussions with Taishin and legal counsel on how to best adopt a dividend policy, which would apply to all LLEN shareholders including the US shareholders. Management expects further discussion with shareholders on this important issue at L&L's 2013 Annual General Shareholders meeting on September 16 in Seattle, WA.

L&L Director and Audit Committee Chairman, Mohan Datwani, commented, "We have received solid support from the business community in Taiwan to pursue this TDR issuance. The Company and management have long history and business background inTaiwan. I believe this is attributed to Mr. Lee's philanthropic deed to Chung Yuan Christian University in Taiwan, and Company's commitment to grow its business in Taiwan. Two business newspapers have recently published interviews highlighting L&L's TDR project and business plans in Taiwan. The interview articles are available on the Company's website."

SEATTLE, Aug. 19, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable coal operations in China, provided a strategic update on acquisitions, management and operations.

L&L Forms Strategic Partnership to Execute Large Acquisition
As discussed on January 31, 2013, the Company's Board of Directors have decided focus on acquiring large mining operations inNorth China with annual production of over 1 million tons. Over the past few months L&L's internal due diligence team, led by L&L Directors Dr. Syd Peng and Mr. Jingcai Yang, have identified two large operating mines (the "Targets") in North China that fit L&L's criteria for production, safety, and efficiency.  

While the Company believes its valuation is undervalued, management is pursuing additional resources to bring value to its shareholders.  L&L is pleased to announce it has formed a strategic alliance with previously announced partner Tianjin Fuhao, a subsidiary of Tianjin Materials and Equipment Company, one of China's largest enterprises ("Tianjin") and a private logistic company in Beijing to complete an acquisition of one of L&L's Targets. (See link on L&L's website for information on Tianjin.)

Tianjin, with its financial strength, will contribute the majority initial funding needed to acquire a Target. L&L in return operate and pre-sell coal from the Target to Tianjin once L&L secures controlling interest. The private logistics company will also provide additional funding and benefit from future transactions.  

Dickson Lee, L&L Chairman & CEO commented, "With such a strategic alliance in place, I feel confident we will execute an acquisition of a large mining operation before the end of the calendar 2013. We have been working to identify a mutually beneficial project with Tianjin Fuhao since August of 2011 and I look forward to utilizing all three parties' resources to benefit from this acquisition."  

James Schaeffer Joins L&L Management Team 
Mr. Schaeffer, current L&L Advisory Board Member, will join L&L's management team as a Director of Operations, helping the Company evaluate new energy opportunities in the US as management believes US operations would improve LLEN's visibility and shareholder value. Mr. Schaeffer is an experienced executive with thirty years of mining and exploration experience in both the US and Asia. He was formerly President of John T. Boyd's China operations, and a CEO of a Hong Kong energy company. Mr. Schaeffer holds an MBA from University of Pittsburgh, and is a member of the American Society of Mining, Metallurgy and Exploration.

L&L to Dispose Hong Xing Washing Facility 
The Hong Xing Washing facility is L&L's smaller coal washing plant located in Shezone County, Yunnan Province ("Hong Xing"). Over the past few months L&L management decided to wind down operations due to increased needs to capital expenditures. Management has decided Hong Xing will not be accretive to L&L in the long run and has stopped Hong Xing's washing operations.Hong Xing facility is to be sold or disposed to an interested buyer as soon as possible.

SEATTLE, Aug. 15, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable coal operations in China, today announced that it has settled $5,000,000 in debt and trade payables, removing these obligations from its balance sheet in exchange for the issuance of shares of its common stock and freeing up cash flow for the Company to execute its wholesale growth with Datang International Power Group ("Datang").

On May 15, 2013, the Company signed an updated contract to provide one million tons of coal to a member of Datang, one of the five primary power generators in China. Since then, the Company's strategic focus has been to execute the Datang contract, aside from pursuing other strategic initiatives.

The Company, with the free up of cash flow, intends to accelerate the execution of the Datang relationship and further build out its distribution network in South China. L&L currently has three rail loading and blending facilities strategically located to source coal from a broad area. L&L's senior management is also exploring with Datang the leverage of its US network to further reduce coal pollutants in the power generation process.

Mohan Datwani, Independent Board Member of L&L, commented, "Being from Asia, Datang is a brand name. The transaction with Ironridge Global IV, Ltd., an overseas passive investor, came at an opportune time as historically low August coal prices create a favorable opportunity for us to secure large quantities of coal. Further, we are in process of completing due diligence on a large mining operation with over one million tons of annual capacity in North China. The ability to free up working capital for acquisitions as well as capital expenditures for the expansion of our current operations will be important as we progress through our growth plans."

SEATTLE, July 30, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a Seattle-based company with a track record of profitable coal operations in China, announced its financial results for fiscal year 2013, ended April 30, 2013.

Fiscal Year 2013 Highlights:

• Revenues increased 76% year-over-year to $199 million for FY2013 from $113 million last year.
• Net income attributable to L&L increased 169% year-over-year to $38.4 million for the FY2013 from $14.2 million last year.
• Earnings per share for FY2013 was $1.03, an increase of 140% from $0.43 last year. FY2013 EPS was reduced by $0.05 due to a non-cash derivative loss.
• The Company's Book Value for the year end 2013 was $214,000,000 or $5.55 per share.
• Coal mining tons sold increased 182% year over year to 670,000 tons for FY2013 from 237,000 last year.
• In November 2012, L&L acquired the Luozhou and Lashu Coal Mines in Guizhou adding 350,000 tons of coal mining production and, when fully expanded, 750,000 tons of annual production.

"Our fiscal 2013 year was one of strong organic and acquisitive growth," commented L&L Vice President and Director, Clayton Fong."Our two newly acquired mines, Luozhou and Lashu, were able to ramp up their production ahead of schedule contributing 167,000 tons to the Company's mining segment in a little over 5 months. With the addition of L&L's Weishe mine, which produced approximately 143,000 tons during FY2013, the Company anticipates its three Guizhou mines to produce 1.2 million tons by 2015."

Fong continued, "Luozhou and Lashu have been wonderful additions to our mining portfolio. We have been pleased with their organic expansion thus far and look forward to expanding both mines, as well as our Weishe mine, to their designed capacities."

SEATTLE, Aug. 5, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with profitable energy (coal) operations in China, announced today that its Taiwan Depository Receipt issuance ("TDR") is moving forward on schedule. The TDR is to provide capital for L&L's growth, and in management's view, will be accretive to shareholders.

Last week, L&L held a joint kick-off meeting in Taiwan to discuss strategy and ensure a coordinated TDR effort among its underwriter, Taishin Securities ("Taishin"), its auditor, KPMG (Taiwan), and its legal advisor, Chieh Yeh Law Firm, a prestigiousTaiwan firm. Following the kick off meeting, Taishin has begun analyzing the Company's energy market and customer portfolios, while KPMG is conducting its final independent review of the Company's audited financial statements ended April 30, 2013. KPMG has issued its unqualified opinions and endorsed L&L's 2012 and 2011 financial statements. The current timetable calls for clearing a prospectus and completing the TDR placement by the end of calendar 2013.

L&L Chairman and CEO Dickson Lee commented, "I am pleased with the TDR progress. As part of our due diligence Taishin brought to our attention that companies listed on the Taiwan Stock Exchange generally issue cash dividends each year. If L&L adopts Taishin's advice to issue an annual cash dividend, we are optimistic that the TDR could benefit all US shareholders. We will consider Taishin's advice as we move this project forward."

Full Year 2013 Results

• Revenues increased 76% year-over-year to $199 million for FY2013 from $113 million last year.
• Net income attributable to L&L increased 169% year-over-year to $38.4 million for the FY2013 from $14.2 million last year.
• Earnings per share for FY2013 was $1.03, an increase of 140% from $0.43 last year. FY2013 EPS was reduced by $0.05due to a non-cash derivative loss.
• Fourth quarter 2013 revenues were $54.1 million vs $34.6 million
• Fourth quarter 2013 diluted EPS from continuing operations $0.14 compared to $0.17 in the prior year.

"Our fiscal 2013 year was one of strong organic and acquisitive growth," commented L&L Vice President and Director, Clayton Fong. "Our two newly acquired mines, Luozhou and Lashu, were able to ramp up their production ahead of schedule contributing 167,000 tons to the Company's mining segment in a little over 5 months. With the addition of L&L's Weishe mine, which produced approximately 143,000 tons during FY2013, the Company anticipates its three Guizhou mines to produce 1.2 million tons by 2015."

Fong continued, "Luozhou and Lashu have been wonderful additions to our mining portfolio. We have been pleased with their organic expansion thus far and look forward to expanding both mines, as well as our Weishe mine, to their designed capacities."

The 5 mines L&L currently owns produced approximately 670,000 tons for FY2013. When fully expanded L&L's current mining operations are targeted to produce approximately 1.8 million tons. In the fourth quarter the Company's mining production, the primary driver of its earnings produced on target with 196,000 tons, however net income was reduced $1.9 million, or $0.05 per share, from a non-cash derivative expense due to a market valuation on a derivative per US accounting standards.

In addition to the Company's growth in South China, L&L announced earlier this year that it has begun to evaluate larger mining operations with over 1 million tons of annual production in northern China. These larger mines have inherently lower production costs and will allow L&L to grow its mining segment exponentially. L&L Directors, Mr. Jingcai Yang and Dr. Syd Peng have played integral roles in this due diligence process. L&L also relocated its headquarters to Beijing in April 2013.

L&L's wholesale segment also saw significant growth this year, securing a new large contract with Datang Power. The increase in volume allowed the Company to further build out its infrastructure, developing additional coal processing operations in Guizhou. Earlier this year L&L opened its second loading and blending station in Guizhou. The facilities at ShinPingBa and ZhaZhou are strategically placed to increase the Company's ability to source coal from a broader area.

L&L also signed a strategic agreement with Apollo Technologies a Taiwan based environmental remediation monitoring firm to explore joint ventures in clean coal projects in China.

SEATTLE, July 29, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or "Company"), a Seattle-based company with a track record of profitable coal operations in China, announced its preliminary financial highlights while the Company's auditor is finalizing its audit report. L&L

Preliminary Financial Highlights Year Over Year: 

* the approximate non-cash $1.9 million loss or $0.05 reduction was due to a market valuation on a derivative per US accounting standards

L&L's Chief Financial Officer, Ian Robinson, commented, "We are pleased to share our preliminary financial highlights with our investors. We have demonstrated tremendous year-over-year growth and we look forward to releasing our final results in detail on, or before Tuesday, July 30, 2013. Management will also host a conference call to discuss our FY2013 results on Wednesday, July 31."

SEATTLE, June 24, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with profitable coal operations in China announces KPMG Taiwan ("KPMG") has completed its review of the Company's FY2011 and FY2012 audits in pursuance of L&L's Taiwan Depositary Receipt ("TDR") project.

Following April's engagement of KPMG, KPMG proceeded with its independent financial review of L&L's financial statements to comply with Taiwan Stock Exchange listing regulations. In the process, KPMG has conducted its necessary procedures including examining documents, interviewing managers, and reconciling balance sheets and income statements into the Taiwan GAAP standards. As of today, KPMG has issued draft review opinions on the previous two fiscal years. KPMG will release its final work after their review of L&L's current (FY2013) financial statements, which is scheduled to be completed at the end of July 2013.

L&L Chairman and CEO, Dickson Lee commented, "I am pleased that our TDR project is moving forward smoothly and on schedule. Working with KPMG and Taishin Securities has been a positive experience and I am looking forward to expanding upon the TDR project, when fully executed, to bring further accretive value to our shareholders."

SEATTLE, June 17, 2013 /PRNewswire/ -- L & L Energy, Inc. ("L&L" or the "Company"), a U.S.-based company with profitable energy (coal) operations in China, announced today that its common stock (NASDAQ: "LLEN") has been added to the Russell Global and 3000� Stock Indexes according to a preliminary list of additions posted by Russell Investments on June 14, 2013.

L&L's Chairman and CEO Dickson Lee stated, "We are very pleased that our stock will be included in the Russell Global and 3000 Stock Indexes.  Our inclusion in these widely-referenced stock indexes will help increase L&L's visibility with institutional investors, as well as the overall liquidity and value of our shares.

SEATTLE, May 21, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable coal operations in China, is pleased to announce it has selected top tier Taiwan underwriter, Taishin (meaning New Taiwan) Securities Co, to underwrite L&L's Taiwan Depository Receipt (TDR) listing.

Following April's engagement of KPMG Taiwan (KPMG) to audit L&L's financial statements to comply with Taiwan Stock Exchange listing regulations, Taishin will act as underwriter to raise capital for the issuance in Taiwan.

Taishin Securities is a subsidiary of Taishin Financial Holdings (2887: Taiwan Stock Exchange). Taishin Financial Holdings also controls Taishin International Bank and Taishi Venture Capital, as well as 22% ownership of Chang Hwa Commercial Bank, the oldest commercial bank in Taiwan.

In conjunction with the Taiwan listing, L&L is expanding its Taiwan operations, including establishing business with Apollo Technology in clean (coal) energy business and exploring opportunities with China Development & Industrial Bank (CDIB) on international trade finance.

L&L Chairman and CEO, Dickson Lee commented, "I am pleased to secure strong partners such as Taishin and KPMG for ourTaiwan listing. Taishin team has demonstrated professionalism and support for our expansion into the Taiwan energy market. I look forward to working with Taishin to enhance LLEN shareholders value."

SEATTLE, May 15, 2013 /PRNewswire/ -- L & L Energy, Inc., (Nasdaq:  LLEN) ("L&L" or the "Company"), a Seattle-based company with a track record of profitable coal operations in China, announced today that it has signed an agreement to provide one million tons of coal to a Datang International Power Co. ("Datang") power plant.

In October of 2012, L&L signed a contract to provide 360,000 tons of coal to Datang's Heshan Power Plant in Guangixi over a 10 month period. Today, subsidiaries of L&L and Datang executed an updated contract to increase L&L's coal supply to one million tons a year. L&L began shipments to Datang under the original contract in January 2013. The increase of coal to Datang's Heshan Power Plant is an endorsement that important customers like Datang are satisfied with L&L's service and quality of coal.

In connection, earlier last year L&L secured its first coal processing facility at ShinPingBa rail station, Guizhou. In preparing for extended coal sales to Datang, L&L recently completed a new coal processing center at Zhazuo Rail Station, Guizhou. These facilities enable L&L to secure additional coal with coal blending and loading capability for further expansion. 

L&L Chairman and CEO, Dickson Lee , commented, "Wholesaling coal to customers like the Datang, one of China's largest power generators, is an important driver to our growth. We look forward to further expanding our distribution network for additional revenue and bottom line growth."

SEATTLE, May 6, 2013 /PRNewswire/ -- L&L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with profitable coal operations in China, is pleased to announce the opening of its China headquarters in the capital city of Beijing.

With a grand opening and ribbon cutting ceremony held on April 22nd, L&L's new China headquarters located in Beijing's Coal Tower became operational. Staff in the new office have begun evaluating mines designed with annual production capacities of one million tons or greater. L&L Director and former CEO of Shenhua's largest subsidiary, Mr. Jingcai Yang, has been working with L&L management to identify operations that meet L&L's criteria for safety, management, and operational efficiency. L&L will further work with L&L Director Dr. Syd Peng and John T. Boyd Mining Consulting Co. of Pittsburgh, Pennsylvania to ensure acquisition targets meet international JORC standards. These initiatives are in line with L&L's Board of Director's announcement on January 31^st to secure larger scale operations with safe operating histories.

The Beijing headquarters also houses L&L's recently established subsidiary, Beijing L&L Jiang Energy Technology Co. With the help of L&L Advisory Board member Dr. Che Ming Dao , an Ohio State University graduate and clean energy expert, L&L Beijing and Apollo Technology Inc. of Taiwan will jointly initiate projects to control coal emissions and remove environmental pollutants such as sulfur, nitrogen and mercury in China.

L&L Chairman and CEO, Dickson Lee commented, "I want to thank hard working L&L management team and Board members for making our Beijing office available quickly, which will facilitate our expansion to North China, and coordinate our Guizhou, Kunming and Taiwan operations. The new Beijing headquarters will create tremendous value by enhancing our connections with new, larger energy partners, and positioning the Company to better respond to the growing China energy need.

SEATTLE, May 2, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a Seattle-based company with profitable coal operations in China, announced today it has entered into a strategic partnership with Apollo Technology Co. of Taiwan ("Apollo") as its clean (coal) energy response to demands in China, the global leader in new investments into clean energy products.

The execution of the partnership is consistent with L&L's 2012 shareholders meetings mandate to expand business, in addition to seeking an alternative listing in a Taiwan Deposit Receipt (TDR) issuance.

Apollo is a top pollution control group in Taiwan with 60 technical staff. Apollo's expertise covers chemical engineering and environmental science which will help L&L to eliminate sulfur and nitrogen from the coal-fueled utility plants and to reduce CO2 in China. In its 18 years of operations, Apollo has executed approximately 200 large environmental improvement studies or pollution clean ups for customer such as Taiwan Power Co, Long Life Utility Co, Formosa Petroleum Co, and Taiwan's Environmental Protection Agency (EPA). Apollo's senior management is US educated and 70% of its team members are postgraduates, with 25 engineers holding US OHSA certifications.

L&L's Chairman and CEO, Dickson Lee , commented, "I am pleased to enter the first Taiwan business partnership with Apollo. Using the Apollo team and its experience, we will provide a basis to apply US clean energy technology in China and expand our business from before-combustion coal operations to after-combustion energy controls with our existing customers, such as Datang Utility, in response to the demands in China. I look forward to working with Apollo to meet the growing needs in China's coal-as-fuel industry."

SEATTLE, April 17, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a Seattle-based company with profitable coal operations in China, announced today that it has engaged KPMG Taiwan ("KPMG"), a big four accounting firm, to audit its financials for a potential Taiwan Depositary Receipt ("TDR") issue.

At L&L's Annual Shareholders Meeting on August 31, 2012, shareholders voted to pursue a secondary listing, or equivalent, on an Asian based exchange. L&L's Chairman and CEO, Dickson Lee , has had various discussions with Asian business leaders, including Mr. Lee Sush-Der, Chairman of the Taiwan Stock Exchange and has been encouraged by their support. Expanding L&L's business in Taiwan is a natural choice given its robust banking networks, proximity to China, western management practices, and increasing need for energy (coal).

Prior to acceptance of their appointment, KPMG conducted due diligence in Los Angeles with L&L's independent auditor, Kabani and Co. ("Kabani"), and interviewed L&L's management team in Seattle. KPMG will audit L&L's financial statements under applicable Taiwan Stock Exchange rules, including FY 2013 ended April 30, 2013. KPMG's audit will be for L&L's TDR efforts, while Kabani continues as L&L's US independent auditor.

The current low valuations on US stock exchanges attributed to companies with Chinese operations and increased funding costs, means it is strategically advantageous to use the TDR to raise funds to expand L&L's business, and to unlock shareholders' value and liquidity to an investor base familiar with China operations. 

L&L's Audit Committee Chair, Mohan Datwani, Esq. , commented, "I am pleased that KPMG, a big four accounting firm, has agreed to audit our financials. Over the past eighteen months the Company has positioned itself well, achieving five consecutive quarters of top and bottom end growth, with our most recent quarterly EPS at $0.42 (3Q FY2012), making a solid financial case for a TDR issue."

Third Quarter 2013 Results

• Revenues increased 98% year-over-year to $59.8 million in the third quarter of fiscal 2013 from $30.2 million in the same quarter last year. On a quarter over quarter basis, revenues increased 9% from $54.9 million last quarter.
• Earnings per share for the quarter was $0.42, an increase of 282% from $0.11 during the same period last year and an increase of 100% quarter over quarter.

"Our third quarter results show five quarters of consecutive growth," commented Ian Robinson, Chief Financial Officer of L&L. "This quarter's strong earnings were bolstered by our two newly acquire mines, Luozhou and Lashu, ramping up their production ahead of schedule. The two new mines have reached their approved capacities and with all our mines fully operational, we were able to surpass our record earnings and production numbers from last quarter."

Mr. Robinson continued saying, "Our wholesale segment also recorded solid growth this quarter as L&L increased shipments to Datang Power under the previously increased contract, signed in October 2012."

L&L's Vice President and Director Clayton Fong summarized, "Last quarter, the five mines we currently own produced at an annual rate of 900,000 tons. Organically they are targeted to grow 100% between now and 2015. We also expect significant growth in our wholesale and washing operations in the next few years. That growth could increase even higher with a few additional acquisitions. We continue to look at opportunities in Guizhou province and have begun looking at even larger mines in Sanxi and Inner Mongolia. With our business running well, I am very pleased how well positioned we are. The future is bright

First Quarter 2013 Results

• Revenues from continuing operations increased 26% year-over-year to $45.3 million in the first quarter of fiscal 2013. On a quarter-on-quarter basis, revenues from continuing operations increased 11%, compared with $41.0 million last quarter.
• Net income attributable to L&L increased 159% year-over-year to $6.2 million for the first quarter of fiscal 2013 and increased 48% from $4.2 million in the fourth quarter.
• EPS for the first quarter 2013 were $0.17 vs $0.08 in previous year quarter.

investors should be aware that in a release LLEN issued this morning, Dixon Lee did not discuss key details included in an 8K filed in the prior evening highlighting the resignation of a Director of the company..

LLEN PR Newswire Press Release Excerpt:

Letter From Dennis Bracy, Director of LLEN Excerpt (Exhibit 4)

Dear L&L Board Members:

I am writing in response to the company’s 8-K notice to the SEC concerning my resignation from the Board of Directors. I disagree with the company’s characterization of events.

The purpose of this letter is to set the record straight.

My resignation was the final step in a long, frustrating experience centered around Dickson Lee, Chairman and CEO of L&L. The company he founded has the potential to be very successful financially, while setting a high standard for safety and environmental performance. It has the potential.

Unfortunately, Dickson Lee operates as if L&L were his own private fiefdom, not a NASDAQ-listed public company. For Dickson, good governance apparently is a low priority, more or less a waste of time and money.

SEATTLE, Aug. 13, 2012 /PRNewswire/ -- L&L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a Seattle-based company with a track record of profitable coal operations in China, completed its annual on-site investor tour in China. This year's site visit focused on the Company's growth in Guizhou Province under its consolidation strategy. In attendance were investors representing institutions from both the U.S. and Asia, including affiliation with a blue-chip Hong Kong-listed company.

On August 10, the site visit began at L&L's Guiyang headquarters with a management meeting and presentation on the Company's expansion. Following the presentation, investors visited L&L's loading and storage space at ShinPingBa and GuangShunYuan Mining Co.'s 33-acre site, where L&L plans to co-develop a coal washing, blending and storage facility. On August 11, management led a tour of the Weishe mine, which was designated as a model mine by the HeZhang County government and recently received final approval for full coal production.

"Hosting a site visit enables investors to see the size of our operations firsthand and gain greater insight into our robust business," commented Dickson Lee, L&L's Chairman and CEO. "We will continue our strong communication with our shareholders at the upcoming annual general shareholders meeting on August 31, where shareholders will elect L&L's directors for the coming year. I will also issue a Chairman's Message in the next few days summarizing our past year and giving insight going forward."

Full Year 2012 Results

• Our revenues for the fiscal year were $143.6 million vs $166.2 in fiscal 2011
• Our income and earnings per share from continuing operations were $22.0 million and $0.50, respectively vs $26.6 and $0.69 in fiscal 2011

"Our efforts have resulted in a surge in production the last quarter of the fiscal year," commented Dickson Lee, L&L's Chairman and Chief Executive Officer. "With the success we've seen from the Weishe mine ("Weishe") acquisition, we are pursuing opportunities to acquire larger and more modern mine operations. To that end, we are currently focused on Union Energy's LuoZhou Mine, which recently began trial production."

SEATTLE, July 12, 2012 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L"), a U.S.-based company with a five-year track record of profitable coal operations in China, has appointed James Schaeffer, MBA, as an independent strategic and technical advisor.

Prior to joining L&L's Advisory Board, Mr. Schaeffer served as the CEO of Mongolia Energy Corporation (HKG: 00276), an energy and resource developer with operations in Mongolia and northwestern China. Previously, he was stationed in Beijing as the Executive Director—Asia Pacific of John T. Boyd Company, a top coal engineering firm. Mr. Schaeffer has over three decades of mining experience and has participated in projects throughout Asia, including China and Southeast Asia. He is known internationally and throughout the Asia-Pacific region by many leading corporations and banking and financial institutions in the energy and resource sectors.

Mr. Schaeffer is a Registered Professional Engineer in Kentucky, Pennsylvania and West Virginia. He is also a member of the International Society of Mining, Metallurgy, and Exploration. Mr. Schaeffer also holds a degree in Mining Engineering from the University of Pittsburgh.

Dickson Lee, L&L's Chairman & CEO, commented, "Jim is a proven mining executive with in-country experience. Adding professionals with these two attributes will benefit the core of our business as we continue to expand our operations to other areas of China."

SEATTLE, July 10, 2012 /PRNewswire/ -- L&L Energy, Inc. ("L&L"), a U.S.-based company with a five-year track record of profitable coal operations in China, has reached an agreement with HunTai Coal Ltd. ("HunTai") in Yunnan Province  to operate and manage HunTai's newly built 600,000-ton-capacity washing plant. L&L will receive a management fee for operating the plant and can earn revenues from wholesaling the washed coal.

L&L's TaiFung Coal Ltd. ("TaiFung") subsidiary and HunTai entered into the agreement on July 10. HunTai, currently in trial operation, will expand L&L's coal washing operation in the region, providing the Company with further recognition as an industry leader. The agreement is expected to generate approximately $63 million of additional wholesale revenue and $5.9 million in net income, based on coal pricing of $160 per ton. Additionally, L&L will earn a management fee of $0.5 million for the next 12 months of operation.

The HunTai coal washing plant is built near its targeted customer, Yunnan Coal Energy Inc., which requires approximately 3 million tons of washed coking coal each year.

Ed Moy, L&L Vice President and Director, commented, "L&L is recognized as a leader in the coal washing industry. Through management innovation, the Company is able to synergize its expertise with other entities to produce more revenue and profit."

SEATTLE, July 2, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or "Company"), a Seattle-based company with a five-year track record of profitable coal operations in China, announces that it will use an equity interest swap with Union Energy as part of the acquisition of the LuoZhou Mine.

In June 2012, Union Energy entered into two MOUs to sell controlling interest in two of its mines to L&L. One of which, the LuoZhou mine ("LuoZhou, the Mine"), is scheduled to begin full production in fall of 2012.

DaXing Co., L&L's recently established wholesale subsidiary in Guizhou, has entered into thermal coal contracts with large end users including, Datang Power Co. By acquiring LuoZhou and the Lashu Mine in near future, both of which produce high quality thermal coal, L&L will increase the available thermal coal for its wholesale operations, further increasing efficiency.

To update, L&L will swap non-strategically held interests in its coking coal mine in Guizhou as payments-in-kind, the Zone Lin coking facility, shares of L&L common stock and a cash deposit, in exchange for 50% controlling interest of the operations of LuoZhou. LuoZhou is designed to meet the higher government mining standards and produces low sulfur, high BTU thermal coal. The Mine is currently in trial production and will reach its approved rate of 150,000 tons per annum by fall of 2012 (on reserves of 27 million tons), with targeted expansion to 450,000 tons. When at full production, LuoZhou is expected to generate approximately US $70M a year in revenues, with an estimated net profit margin of 31%. The specific terms for this transaction have not been finalized and are subject to final reviews.

Union Energy will diversify its product portfolio and expand its customer base by acquiring coking facilities and coking coal mines.

L&L's Chairman and CEO, Dickson Lee, commented: "When completed, the acquisition of LuoZhou will substantially upgrade our existing mining portfolio's operations and better align our product mix to help supply increasing demand for thermal coal in the region. Union Energy has been a strong partner for L&L and this transaction will further cement our relationship."

SEATTLE, June 22, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or "Company"), a Seattle-based company with a five-year track record of profitable coal operations in China, has signed MOU to acquire a 50% controlling interest of the LuoZhou Mine ("LuoZhou") in HeZhang County, Guizhou Province.

The acquisition of LuoZhou will mark the Company's third transaction with Union Energy, a local partner. Previous transactions include the acquisition of the Weishe Mine ("Weishe") and a recently announced MOU to acquire controlling interest of the LaShu Mine ("LaShu"). Weishe, currently in production, is now operated by L&L as a model mine in the community; LaShu is scheduled for production in the fall of 2012.

LuoZhou is currently in trial production and will reach its approved rate of 150,000 tons per annum by fall of 2012 (on reserves of 27 million tons), with targeted expansion to 450,000 tons. These three mines, all located in the HeZhang County, are expected to produce more than 1 million tons of low sulfur, high BTU, anthracite coal each year. L&L will pay an earnest deposit of approximately $349,000 (RMB 2,200,000) for LuoZhou. The remaining balance will be paid in installments under other consideration, including payment-in-kind of non-strategically held interests, stock and/or cash. Terms for the remaining balance are being finalized.

Dr. Syd Peng, a mining expert and Director of L&L, commented, "We are successfully implementing our consolidation strategy in HeZhang County with Union Energy. We aim to repeat the successes of Weishe, being designated as a model mine by local authorities, at other operations. LuoZhou and LaShu will upgrade our existing mining portfolio, increase our total accessible reserves, and provide added coal to expand our wholesale operation, driving profits and growth."

SEATTLE, June 18, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or "Company"), a Seattle-based company with five-year track record of profitable coal operations in China, announced today, consistent with its consolidation strategy, the entry into an MOU to acquire the Lashu Mine (the "Mine" or "Lashu") in HeZhang County, Guizhou Province.

The MOU, for 51% controlling stake in the Mine, is entered with Union Energy, previous owner of L&L's Weishe Mine, also in HeZhang County.  The repeat transaction illustrates the confidence in the Company's mining operations and enhances the reputation of the Company as consolidator of mining operations in the region.

Upon production, scheduled for fall 2012 and fully implemented within 2013, the Mine will produce low-sulfur, high BTU, anthracite coal at the approved annual production rate of 300,000 tons on 7.17 million tons of reserves, with potential expansion to 450,000 tons and beyond on reconnaissance resources of 20 million tons.

L&L will pay an earnest deposit of approximately $314,000 (RMB 2,000,000) and the remaining balance, which is being finalized, will be paid in installments over time in accordance with the definitive agreement.  Both L&L and Union Energy stand to profit from the enhanced mining operations supervised by L&L's professional team.

L&L's Chairman and CEO, Dickson Lee, commented, "The acquisition of the Mine is part of our consolidation strategy in HeZhang County. We are working with Union Energy and others to identify further opportunities.  We are organizing our mining assets in a focused manner, to maximize return to our shareholders. "

SEATTLE, June 11, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or "the Company"), a U.S. company with a five-year track record of profitable businesses, showcased its Weishe Mine in HeZhang County, Guizhou Province, following designation by the HeZhang County Government as a model mine, further confirming the Company's mining operation and strategy as mining consolidator.

The official tour, on June 5, 2012, was led by county officials including the County Secretary, Huang Guangjiang, and L&L's Allen Liu. Over 170 visitors, including 30 mine operators, spent time visiting L&L's model operations, which drew the Secretary's praise in terms of Weishe's advanced mining techniques, commitment to safety and technology.

By way of background, prior to Weishe's acquisition, Dr. Syd Peng, L&L's Director and former Chairman of the Department of Mining Engineering at West Virginia University performed due diligence and thereafter assisted in supervising parts of its construction. The Company aims to repeat the successes with its leadership.

"Weishe Mine being recognized by the government confirms L&L's position as a leader in efficient and safe mining operations," stated Dickson Lee, Chairman & CEO of L&L. "This endorsement further strengthens our reputation in the region and will prove beneficial as we continue to pursue opportunities to consolidate mines in Guizhou Province."

SEATTLE, May 21, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L or the Company"), a U.S. company with a five-year track record of profitable businesses, announced today that over the next 12 months the Company plans to begin a discretionary stock buyback program, purchasing up to $10 million of outstanding LLEN shares from the open market.

 On May 18, 2012, LLEN shares closed at $1.38 representing an approximate 52% reduction in the Company's market value since April 5, 2012. During the same period, the Company's strategy and growth remains on track and the Company is not aware of any business reasons for the price decline.

In view of the perceived price and strength mismatch, the Company views it opportune to enhance the return to shareholders. Under the buyback all purchased stock will be retired, reducing the Company's outstanding shares and raising the attributable profit per unit to the shareholders.

The Company and insiders are currently prohibited from buying LLEN shares, as the Company's fiscal year has just ended on April 30, 2012. L&L's Audit Committee unanimously approved the Company's buyback and management is working with advisors to ensure all securities requirements are met prior to a repurchase and purchase by insiders, including the Company's founder, who has indicated a desire to acquire LLEN shares.

FOURTH QUARTER FY2012 Year end financial statements are currently being compiled and targeted for release in mid-July. Twelve months of earnings and operational profits from the recently sold Ping Yi Mine, attributable to FY2012, will be included in the year end results. The Company will incur no loss from the sales transaction. Source: PR Newswire (http://s.tt/1cp3O)

SEATTLE, May 4, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L"), a U.S.-based company with a five-year track record of profitable underground coal mining and distribution operations in China, has begun due diligence of targeted large-scale surface mines in Inner Mongolia, China for potential acquisition.

The eventual acquisition of surface mines and entry into long-term coal supply agreements in Inner Mongolia is expected to significantly expand and diversify L&L's existing underground coal operations from south China into a national presence. Mr. Jingcai Yang, a recently appointed director of L&L, is assisting the Company in sourcing suitable surface mines. Mr. Yang, the former Chief Engineer at Shenhua Group Corporation Ltd. and former Chairman & CEO of Shengdong Coal Corporation, is an expert in surface mining in China.

Dickson Lee, Chairman & CEO of L&L, stated, "We are now expanding our platform to target one million ton and larger surface mining operations in Inner Mongolia which will expand and diversify our mining portfolio. Our on-the-ground technical capabilities are in place, and we have built a strong team that includes Mr. Yang and Dr. Syd Peng, who bring industry connections in Inner Mongolia and U.S. mining technology, respectively, to our operations. "

To further strengthen shareholder value, L&L has reached an agreement to sell the underperforming Ping Yi mine, which is one of five L&L underground mines. Under the terms of the agreement, L&L sells Ping Yi back to its original owners, while securing an off-take agreement at a discounted price to take advantage of the mine's future production. The sale terms include, among others, a US $31 million sale price, payable in part as a prepayment on future coal purchased by L&L, and  future use of the mine's coal washing facility. L&L purchased the mine in 2009 for approximately US $4 million.

Lee also commented, "We are committed to enjoying the long term benefits of consolidation in the Guizhou Province. Selling the Ping Yi mine is a healthy move and will allow us to focus our energy on purchasing additional mines, including those in Inner Mongolia. As L&L has developed more resources over the years, a diversification into larger, surface mining in Inner Mongolia, as well as upgrading our existing mining portfolio will ensure diversified growth with a positive impact on company's bottom line."

SEATTLE, April 19, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, has obtained approximately 32,292 square feet (3,000 square meters) of coal storage and rail loading space from Chengdu Railway Bureau in ShinPingBa, Guizhou.

The Chengdu Railway Bureau ("Chengdu Railway") is one of the largest rail bureaus in China, overseeing railway networks throughout the Sichuan, Guizhou, and Yunnan Provinces.

The addition of this rail loading and storage space will help streamline L&L's Guizhou wholesale platform and distribution network, as well as assist in supplying the recently contracted 400,000 tons of thermal coal to Datang International Power Generation Co., Ltd. and Guodian Yongfu Power Generation Co. over the next year. The coal storage capacity of the space is approximately 50,000 tons.

Dickson Lee, Chairman and CEO of L&L commented, "L&L is working diligently to execute the wholesale contracts we recently signed with two large power companies in Guangxi. This storage and rail loading space with Chengdu Railway is an important link of the supply chain and will help reduce our transportation costs. In a region where a large portion of the coal is still delivered by truck, having a rail access point is an important strategic advantage. Cooperating with Chengdu Railway will provide positive impact for L&L and strengthen our wholesale segment going forward."

SEATTLE, April 11, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, has signed a long-term sales contract with Guodian Yongfu Power Generation Co., Ltd. ("Yongfu Power"), a large utility company located in Guangxi Province.

Under the agreement, L&L will provide 20,000 tons of thermal coal per month over the next eight months to Yongfu Power. The contract can be extended after the initial eight months. The average sales price under the agreement will be approximately $120 per ton, which is anticipated to generate approximately $19 million in revenues.

Yongfu Power is a wholly-owned subsidiary of China Guodian Corporation ("Guodian"), a Global Fortune 500 corporation and one of the five largest power producing companies in China. Guodian owns over 180 power plants covering 31 provinces. In 2011, Guodian's total assets exceeded $100 billion.

This is the second sales agreement that L&L has secured in the past two weeks, totaling 400,000 tons of coal and over $50 million in new revenues. Under the previously announced first agreement executed on April 4, 2012, L&L's DaXing subsidiary will supply 20,000 tons of coal per month for the next 12 months to Datang International Power Generation Co., Ltd. ("Datang"). Both Datang and Guodian are among China's top five power producers.

Dickson Lee, Chairman and CEO of L&L, stated, "I am very pleased with the progress our team has accomplished in recent weeks, adding two large wholesale supply contracts. Guodian Corporation is a giant in power generation and clean energy in China. We look forward to growing our relationship and exploring additional projects with them in the future."

SEATTLE, April 5, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, has signed a long-term sales contract with Datang International Power Generation Co., Ltd. ("Datang Utility"), a large, state-owned utility company based in China, to provide thermal coal for its HeShan power plant.

Under the agreement, L&L's DaXing wholesale subsidiary in Guizhou Province will provide 20,000 tons of thermal coal per month over 12 months to Datang Utility's HeShan power plant in neighboring Guangxi Province. Using an average sales price of $130 per ton, the contract is expected to generate approximately $31 million in revenues.

Datang Utility is one of China's largest power generation groups, with more than 100 subsidiaries in over 18 provinces throughout China. In 2011 Datang Utility's had an operating revenue of approximately $11.5 billion dollars.

Dickson Lee, Chairman and CEO of L&L, stated, "We are pleased to sign this sales contract with Datang Utility. This is the first step in expanding our coal network beyond Yunnan and Guizhou to other South China provinces. We will work with our new strategic partner, AVIC International, to seek additional wholesale opportunities in Guangxi as well as other neighboring provinces. Our new customer is a well-known, reputable organization with a wide-reaching network, and this contract aligns with our efforts to build business relationships with large institutions. We look forward to working with them on a continued basis going forward."

SEATTLE, April 2, 2012 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: LLEN) ("L&L"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, today provided an update on its Weishe coal mine ("Weishe"), located in Guizhou Province.

After successfully completing a government inspection, which took place over the first few weeks of its test production, the recently acquired Weishe mine received regulatory formal approval to begin initial coal production. During the inspection, regulators tested Weishe's construction, air ventilation, safety equipment and coal extraction practices to ensure the newly constructed mine met various new safety standards. The inspection is the first of a series of tests over the next five months to gain final approval.

Dickson Lee, Chairman & CEO of L&L, stated, "The construction and testing of the mine has gone smoothly. Weishe's timely completion of the initial inspection is a testament to the excellent planning, hard work and dedication of our staff.  On behalf of L&L, I thank them for the excellent work."

L&L also announced that it has appointed Zhi Xie as its Senior Sales Director in Guizhou Province, who will expand L&L's coal sales and marketing efforts at Weishe and throughout L&L's various wholesale outfits. Mr. Xie has 25 years of institutional coal sales experience. He was Assistant General Manager at AVIC International Coal Logistics Co.  Prior to that, Mr. Xie worked as Coal Transportation Manager for the Guizhou Railroad Holdings Co., where he was responsible for 30 million tons of coal sales per year.

L&L also appointed two U.S.-trained bilingual financial managers to the Guizhou Operations. Mr. Hubert Chen, an MBA in Finance, previously worked at L&L's Seattle office. Mr. Lin Po, an MBA in Accounting and Operations, previously worked at Shanghai for a major US company. Both graduated from the Thunderbird School of Global Management in Arizona.

LLEN Receives Affirmation of Ownership from Former Ping Yi Owners

SEATTLE, March 21, 2012 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L"), a U.S. based company since 1995 with coal mining and distribution businesses in China, announced today that it signed a strategic sales agreement with AVIC International Coal Logistics Co., Ltd. ("AVIC Logistics") to expand its efficiency and coal sales throughout the Guizhou province.

AVIC Logistics is a known logistics and supply chain management company based in Guizhou and is currently investing in building a coal trading and logistic system throughout the province. AVIC Logistics is a subsidiary and acts as the coal arm of the AVIC International (Aviation Industry Corporation of China International Co.), a major China Central Government-led enterprise which manufactures and markets fixed wing aircrafts for commercial and military purposes. AVIC International has annual sales in excess of US$ 10 billion.

Under the strategic agreement, L&L is to utilize AVIC Logistics' platform, wholesale, and railroad network, to jointly market one million to two-million tons of coal in the calendar 2012. Using US$ 150 per ton coal price, the agreement if executed, could generate over US$ 150 million in revenues. L&L and AVIC Logistics will also work together to develop a strong supply chain management system aimed at supporting the development strategy of both parties, grow domestic and international markets with the objective of mutual benefit and development, and work together going forward throughout consolidation process in Guizhou.

"I am very pleased with the caliber of partners L&L is working with in China. L&L is upgrading its operations from dealing with individual proprietors to working with large institutions in the China's coal industry," Dickson Lee, Chairman and CEO of L&L commented. "After entering into joint MOUs' with two large institutions, including China Chengtong Metal Corporation (the former China Ministry of Material), we are able to further improve operations with help from AVIC Logistics' resources and network. We look forward to a fruitful relationship with AVIC Logistics to generate additional sales, improve our operational efficiency, and help meet China's robust coal demands."

Third Quarter 2012 Results

Ian Robinson, Chief Financial Officer stated, "As we have stated in the past several quarters, the Guizhou consolidation would provide tremendous growth opportunities to acquire mines at highly accretive prices. However, in the short term, the operating environment would be challenging. The last four quarters have been difficult, but we seem to have turned the corner going forward."

"In this third quarter of FY2012, our mines produced 67,000 tons. This reduction was the result of two temporary setbacks which the Company does not anticipate will affect our fourth quarter. First, a government mandated slowdown as a result of a major accident in the early part of the third quarter near our DaPuAn mine caused its production to drop over 50%. However, during the early part of the fourth quarter the Chinese government notified the Company that DaPuAn has passed its safety inspection and was approved to ramp up production. The second contributor to the decreased production in the third quarter was the Chinese New Year holiday, which traditionally results in a two week idling of nearly all businesses throughout China. We estimate that this annual holiday celebration impacted the Company's quarterly revenues by approximately 15%. Our revenues, net income, gross profit and diluted EPS for the third quarter were as follows:"

-- Revenues were $30.2 million vs $65.8 million in prior year
-- Gross profit was $8.8 million vs $21.3 million in prior year
-- Net income was $4.9 million vs $14.5 million in prior year
-- Earnings per share was $0.11 per diluted share vs $0.41 in prior year

Robinson continued, "We are optimistic that the fourth quarter of FY2012 will see significant improvements from the third quarter. Our DaPuAn, Su Tsong, and Da Ping mines are operating near or at their approved mining permits and our recently acquired Weishe mine began test production this February. Looking forward and assuming four mines at or near approved production, combined with even minimal production at Ping Yi, we believe our revenues next fiscal year would exceed those in FY2011, which for the most part was not impacted by Guizhou's accelerated consolidation. "

Dickson Lee, Chairman and CEO of L&L commented, "We are pleased with our progress in becoming a consolidator in Guizhou, targeting 2-3 million tons of production by the end of 2013. We have begun our execution plans and our acquisition of the Weishe Mine ("Weishe") was an important milestone. Weishe is a great addition to our portfolio and our new partners and former majority owners of Weishe, Union Energy, Co. are very experienced with strong connections throughout Guizhou."

Lee went on to say, "We have a pipeline of other acquisitions in place, including two additional Union Energy mines. These additional acquisitions will meet our standards for safety, scalability, and operational efficiency. With the support of the government and our new partnership with Union Energy, I anticipate a strong finish to our fiscal 2012 year and have an optimistic outlook for 2013."

SEATTLE, Jan. 30, 2012  /PRNewswire/ -- L & L Energy, Inc., (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company founded in 1995 with coal mining and distribution businesses in China, announced today that it has entered an agreement acquiring 51% controlling interest of the Weishe coal mine ("The Mine" or "Weishe") in China.  

Weishe Mine Acquisition Highlights          

• Purchase Price:            Approximately $16.2 million, to be paid in full with 3 million LLEN shares at $5.396/share
• Interest %:                   51% controlling interest
• Mine Reserves:            19 million tons in a 1.8 square KM site
• Design:                        450,000 ton annually  

Estimated FY2013 (Ended April 30) Impact of Weishe

• Production:                                124,000 tons
• Price per ton:                              $158
• Revenues:                                  $19.6 million
• EBITA:                                       $9.8 million
• Cash flow attributable to L&L:       $3.75 million

Weishe mine produces high quality, low sulfur, anthracite coal, and is one of three newly constructed mines owned by Union Energy located in Hezhang, Guizhou Province, China. The mine is expected to be expanded to its designed 450,000 tons of annual production over the next few years.

Dr. Syd Peng, L&L board member and world-renown mine expert, said, "I welcome the new Weishe mine, which is the first of many new mines we are targeting to upgrade our mining portfolio for better safety and mechanization."  Mr. Po Shui, owner of Union Energy, a local Guizhou company, stated, "I believe in L&L and am pleased to take common shares as payment. I also look forward to the possibility of joint venturing with L&L on two other Union Energy mines, one of which is scheduled to begin producing in the spring and the other in the fall of this year."

Dickson Lee, Chairman and CEO of L&L Energy commented, "L&L Energy has been focused on executing our plan for the Guizhou consolidation. With the recently established Hong Gou operational office in Guizhou, the government's approval of our new wholesales license, and now the addition of the Weishe Mine, we are positioning ourselves well to fully execute the two one millions ton wholesale agreements negotiated in the fall of 2011," Lee continued. "The management team at the Weishe mine is very strong and will be excellent addition to L&L as we scale at a faster pace. To share in our excitement, we invite investors to visit our new operations this summer."

GeoInvesting Stands by its Claims that L&L Energy does not Own the Ping Yi Mine: More Color Provided

We understand that some investors have attempted to discredit our research, observing differences between the mining permit number/address on the official Ping Ying Mine chopped business license and Mining Permit compared to web sites posting disclosing the sale of the Ping Yi Mine. Conclusions based on this observation are baseless.

The Mining Permit number issue in no way unsubstantiates our findings. Our research is based on a mountain of findings.

1. Our research was performed using the official Business License and Mining Permit posted by the owner. Website postings are secondary to our conclusions, except for the sale information itself.
2. We have obtained an official chopped SAIC filing of the Ping Yi Mine that clearly shows that LLEN does not own this mine.
3. Most importantly, the press release issued by LLEN on Jan 17, 2012 states that, "Regarding the sale notices mentioned by GeoInvesting in its article, the Company never authorized or prepared such sale notices. Accordingly, the Company does not know the source of such notices." In other words, it does not dispute that the Ping Yi Mine is for sale.
4. The only issue regarding the difference in addresses is that the owner refers to the older address of Ping Yi Mine (we will address below).
5. We note that outside of a possible typo or human error regarding the Mining Permit number, there are no discrepancies in our argument about the ownership of Ping Yi Mine.

We stand by our conclusion that LLEN does not and never did own the Ping Yi Mine. Investors who do not embrace this conclusion are grasping for strings and playing a dangerous game.

For more detail on the mining permit and issue about the address, please read the following explanation:

In this detailed sales post, the sale representative posted the map of Ping Yi Mine, the business license of Ping Yi Mine and the Mining Permit of the Ping Yi Mine (http://www.worldmr.net/Exhibition/ForeCastList/Info/2011-10-11/112458.shtml). The Mining Permit is as follows:

The first paragraph of the introduction of the Ping Yi Mine in the same sales post states:

Translated into English:

"Pingguan Ping yi Mine locates at Sandaogou, Pinguan town, Pan County. It is around 10 km away from Pingguan and there is a low level paved road links Pingguan to the Mine. It is around 25 km away from Hongguo twon and the transportation is very convenient. Based on the mine map in the mining permit issued by Natural Resource Bureau of Guizhou province (No. 5200000711358), eight coordinates defines the scale of the mine with the 2.2694 m2 and the exploration depth is 2250-2210 m."

Apparently, there are two discrepancies between the web sales posting of the Ping Yi Mine and the posted business license and mining permit of Ping Yi Mine.

"Sandaogou Pingguan Town" vs. "Yiche village, Pingguan Town" in the Business License

"No. 5200000711358" vs.

In the SAIC file, there is a corporate change page as follows:

This corporate change clearly explained that the Ping Yi Mine moved from Sandaogou to the current address, Yiche village. It is reasonable to believe that when the owners wrote the sale posting, they made a mistake and used the old address on the sale post.

When the owners wrote the sale posting, they used the Mining Permit number "No. 5200000711358", rather than the , which Ping Yi Mine obtained on Aug. 2008 and is disclosed in the official mining permit in the same sale posting. There are several reasons for this mistake:

1. A typo
2. Before Aug. 2008, Ping Yi Mine had another Mining Permit, which may have carried the number "No. 5200000711358".

This does not debunk our finding that LLEN does not own Ping Yi Mine, which is clearly shown in the SAIC file.

Recordings and Transcripts Provide Conclusive Proof that L & L Int (LLEN) Never Purchased the Ping Yi Mine

Over the past few days, we have presented indisputable evidence that L&L Energy (LLEN: NASDAQ) has materially misled its investors and the SEC. For two years now, LLEN has unambiguously claimed to be a 100% owner of the Ping Yi mine, which allegedly provides almost 40% of its claimed capacity. As we explained in

our full report

After the report, some investors have stated that the SAIC file we pulled on Jan 13, 2012 showing that LLEN does not own the Ping Yi Mine is not the most up to date SAIC filing. They have also disputed what the sales agent of the mine, Mr. Wu, said.

We will now present the most compelling piece of evidence that we have, the recordings and transcripts. The conversations that you are about to read will make it crystal clear what actually happened in this story and that LLEN does not own the Ping Yi Mine.

The first conversation is a new conversation with Mr. Zhao Weijun (赵维君), the vice director of Company Registry of Guizhou SAIC Office on Jan 19. 2012 (Beijing Time). Mr. Zhao Weijun clearly explained what the examination date (核准日期) means and confirmed that there shall be no corporate change after the examination date shown on the SAIC file.

• Jan 19, 2012 Conversation with Mr. Zhao Weijun, Vice Director of the Guizhou SAIC office, proving we have the most current SAIC filing - Full Recording and Transcript

On multiple occasions in December, 2011 and January 2012, we contacted the sales representative for the Ping Yi Mine, Mr. Wu. Mr. Wu confirmed that the mine was up for sale by an investment group (four individuals) with no discernible ties to LLEN. When we asked him whether LLEN owned the mine, he answered an insistent no, and doubted that LLEN was even financially strong enough to make such an acquisition. He also told us that LLEN had discussed an acquisition in 2009, but no deal had happened.

We recorded two conversations with Mr. Wu, sales representative of the Ping Yi Mine on Jan 11, 2012 and Jan 16, 2012: The first one is a conversation prior to our first alert on Jan 13, 2012 and the second one is after our alert.

1. Jan 11, 2012 Conversation with Mr. Wu, confirming LLEN does not own the Ping Yi Mine Full Recording and Transcript
2. Jan 16, 2012 Conversation with Mr. Wu, confirming again that LLEN does not own the Ping Yi Mine Full Recording and Transcript
   
   Conversation with Mr. Zhao Weijun regarding the different dates on the SAIC file.

Background:

There is a confusion regarding the date on the SAIC file below.

 There is a date of Aug. 20, 2008 as the examination date (核准日期) on the file we pulled on Jan 13, 2012. Some people regard that the file we pulled only explain the legal status of Ping Yi Mine up to Aug. 20, 2008. We already explained this issue as follows:

To clarify this issue, we called Mr. Zhao Weijun (赵维君), the vice director of Company Registry of Guizhou SAIC Office, which is in charge of the company registration of Guizhou province, picked up our call and confirmed our explanation. The key points of the conversation between our investigator and Mr. Zhao Weijun (赵维君) is as follows:

Geo: Here it is. This company is established on Aug. 2, 2000. There is an examination date (核准日期) which is Aug. 20, 2008. At the bottom of the file, there is a date, which is Jan 13, 2012. I want to know, what does the examination date (核准日期) mean? (是这样的，这个企业的成立日期是2000年8月2日。上面有一个核准日期是2008年8月20日。然后这个文件最底下是2012年1月13日。我想问你一下，那个核准日期是什么意思？)

Mr. Zhao: Examination date (核准日期), for example, if the company comes to our office to do the corporate change, such as business scope, and we exanimate the corporate change, that day shall be the examination date. There is only one establishment date, which shall not change at all. (核准日期，比方说，它今年来变更，我们核准以后，比方说它变更经营范围，我们核准以后，这就是核准日期。如果说成立日期，它只有一个，它不会变的。)

Mr. Zhao: To the examination date, if the company changes one item, such as company name, registered capital, there shall be an examination date for each change. (核准日期，如果说它有变更事项，比如说变更名称，变更注册资本，每变更一次，就有核准日期。)

Geo: Now, the examination date (核准日期) of the company is Aug. 20, 2008. We can say there is no any corporate change from Aug. 20, 2008 to now, right? (那现在就是说，这个公司的核准日期是2008年8月20日，那就是说2008年8月20日到今天，它没有做任何变更，对吧？)

Geo: thank you very much. How can I call you? (谢谢。那您怎么称呼？)

Mr. Zhao: My last name is Zhao. (免贵姓赵)

Geo: Are you vice director, Mr. Zhao? (赵副局长，对吧？)

Mr. Zhao: Yes. (是的。)

Geo: thank you so much. Vice Director Zhao. (谢谢你，赵副局长。)

Two conversations with Mr. Wu, the sales agent of Ping Yi Mine

After the GeoTeam found the sales post of Ping Yi Mine at the beginning of Dec. 2011, we contacted Mr. Wu on Dec 12, 2011 to talk about the possible acquisition of the Ping Yi Mine. Our GEO investigator pretended to be from an investment company from Beijing China. In our first talk, Mr. Wu confirmed that Ping Yi Mine was still for sale.

After that, we periodically contacted Mr. Wu regarding the acquisition of Ping Yi Mine and confirmed with him several times that the Ping Yi Mine was not acquired by Fuyuan County Baoxing Economic & Trade Co. Step by Step, GEO told Mr. Wu that it was LLEN that told us that Ping Yi Mine was acquired by Fuyuan County Baoxing Economic & Trade Co. for the consideration of around USD 4 million at the end of 2009. Mr. Wu denied this claim by LLEN. To build trust, the Geoteam told Mr. Wu that a group of people led by Mr. Zheng (郑总) from Beijing may visit Ping Yi Mine before the Chinese New Year.

On Jan 11, 2012 (Wed.) (Beijing Time), GEO called Mr. Wu again and made an excuse that the group of people cannot visit Ping Yi Mine as there are not available air tickets before the Chinese New Year. We recorded this call and confirmed relevant issues surrounding the ownership of Ping Yi Mine again with Mr. Wu. The key part of the conversation is as follows:

[...]

Geo: then. We will try to visit you before the Lantern Festival (Feb. 5, 2012). Is it ok?

Mr. Wu: OK. OK.

GEO: Additionally, we contacted Longteng Mining (龙腾矿业，LLEN's Chinese name) again. They told us that Baoxing Economic & Trade CO., Ltd. paid you tens of millions in RMB, or USD 4 million to purchase the mine at the end of 2009 or beginning of 2010. Did you have this deal or not?

Mr. Wu: No. No.

GEO: No? No for this deal?

Mr. Wu: the deal failed at last （最后没成啊）.

GEO: this deal failed at last, right?

Mr. Wu: Yes.

GEO: Oh. They said that, at that time, Baoxing did pay around USD 4 million, or RMB more than 20 million amount. It is to say that that deal failed at last?

Mr. Wu: Yes.

GEO: Oh. They said that, at that time, Baoxing did pay around USD 4 milion, or RMB more than 20 million. It is to say that that deal failed at last?

Mr. Wu: Yes.

GEO: OK. We are not clear about their stance. Whatever, we just disregard this [LLEN's stance].

Mr. Wu: Yes.

[...]

After we released our initial alert on Jan 13, 2012, we knew that some investors may call Mr. Wu during the long holiday weekend and that LLEN may also contact Mr. Wu regarding this issue. On Jan 16, 2012 (Monday) GEO's investigator called Mr. Wu to once again confirm the relevant issues surrounding the ownership of Ping Yi Mine. Mr. Wu confirmed again that Ping Yi Mine is still owned by four individuals and LLEN did not acquire the mine. He also said that LLEN did contact them to acquire Ping Yi Mine but that deal never went through. Mr. Wu also told us that several guys called him during the weekend with "private numbers" or "oversea numbers". Furthermore, Mr. Wu did not mention whether LLEN contacted him or not after we release this press release. The key part of this conversation is as follows:

[...]

Mr. Wu: Now, our biggest boss is Mr. Zhang, Zhang Baoguo. The mine is owned by individuals. (我们最大的老板姓张，张保国。我们现在是私有的。)

GEO: What? （现在是什么？）

Mr. Wu: owned by individuals. At the beginning, LLEN (龙腾矿业) did discuss this deal with us. At last we did not reach a final deal. （私有的。最初，龙腾矿业谈是谈过，但是最终没成交易。）

GEO: Oh.

Mr. Wu: LLEN did not pay money to us at all. （他们也没有付钱。）

GEO: signed a contract but not pay any money? So the claimed agreement is a void contract?

Mr. Wu: Yes.

GEO: Oh. The agreement on the hand of my boss is a void contract?

Mr. Wu: Yes. Even mentioned something called like Baoxing Group. （还说那个什么宝兴集团）

GEO: Yes. Baoxing Economic & Trade Company. Therefore, my boss complained about Mr. Zhang a lot and said he did not do a good job. As this is a big issue, we also pulled the SAIC file of Ping Yi Mine. Based on the SAIC file, we realized that Ping Yi Mine is owned by four individuals as a partnership. (the voice is disturbed) Hello?

Mr. Wu: I am listening.

GEO: This is owned by four individuals as a partnership, not owned by LLEN, right?

Mr. Wu: Yes.

Mr. Wu: Yes. Now, it is owned by four individuals and it is not sold to any other. （是的。现在是四个自然人所有的，没有卖给任何人。）

GEO: Yes. I read the SAIC file and it says that it is owned by four individuals.（是的，我知道，我看了工商档案，是说四个自然人。）

Mr. Wu: No such a thing (acquisition by LLEN) at all. （没有这个事情）

GEO: no such a thing (acquisition by LLEN) at all, right? （根本没有这个事情，对不对？）

Mr. Wu: There was this thing. But, there is no reached deal. （有是有过，但是最后没有成交。）

GEO: We know. If the deal is not done, we know what we can do. Then, I can report to Mr. Zheng, my boss, to arrange the following things and possible trip. After our arrangement, I will give you a call. Is that ok?

Mr. Wu: You already know the information of the mine, right?

GEO: Yes. This is the only thing in doubt. Even though I am already on my vacation, my boss still asked me to call you to confirm this.

Mr. Wu: There are several guys that called me in these days to enquire about this issue. There was no phone number reflected on my cell phone. Sometime, it reflects "private phone number" or "oversea phone number". （这两天有好几个人打电话给我，来问这个事情。他那个号码没有来电显示，还有就是显示为私人号码或者海外号码。）

GEO: Oh. Really?

Mr. Wu: they all called me for this issue. I thought they were from your company. （他们打电话都是问这个事情，我还以为是你们公司的人。） [...]

See our full report

Disclosure: Short LLEN

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SEATTLE, Jan. 17, 2012 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S. based company since 1995 with coal mining and distribution businesses in southwest China, announced today it is concentrating greater efforts in the Guizhou Province, specifically, on new acquisitions that will focus on larger mines, as well as newer mines that meet anticipated enhanced safety and mechanization regulations .  The Company will also explore geographical diversification from southwestern China by looking at new coal resources in other provinces.

L&L recently signed two joint sales/marketing agreements with two giants; China Chengtong Metals Co. and Tianjin Fuhao Industrial Co. Ltd to expand its wholesale operation in addition to its existing sales operations in South China. If fully executed, the agreements collectively will generate approximately $US 300 million in revenues throughout 2012.

L&L also recently added Mr. Jingcai Yang as an advisor. He is a former senior executive from China Shenhua Group Corporation Limited, the world largest coal producer and will assist the Company to explore coal sales on a national level. As an executive who ran one of the largest surface mines in the world, Mr. Yang will also help the Company evaluate potential surface mines, which have experienced fewer disruptions than underground mines.

The Company also recently signed an MOU with three newly built mines Guizhou and is in active negotiations to acquire all three.

Dr. Syd Peng commented, "What I learned from my recent extensive visit to inspect potential mine acquisitions is that the Company should take advantage of the new availability of larger mines with stronger management teams as well as some new mines that meet anticipated enhanced safety and mechanization regulations." 

Dickson Lee, Chairman and CEO added, "As a company with 16 years of experience in China we have consistently sought to take our operations to the next level. Our partnerships with companies of CCMC and Tianjin Fuhao's caliber have exposed us to many new opportunities. We believe our vision and hard work have helped us to navigate this somewhat turbulent past year and we are positioning ourselves to bring solid results to our shareholders."

SEATTLE, Jan. 17, 2012 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S. based company since 1995 with coal mining and distribution businesses in southwest China, announced today it reaffirms its ownership in Ping Yi Mine ("Ping Yi") and states it has not posted Ping Yi for sale.  

A GeoInvesting blog/article recently cites three questions, regarding ownership of Ping Yi, availability of Ping Yi for sale, and coal production at DaPuAn Mine ("DaPuAn").

Regarding ownership, the Company reaffirms its ownership rights in Ping Yi Mine.  As the Company has disclosed in its most recent 10-K, "effective November 1, 2009, KMC (a wholly owned subsidiary of L&L) through its subsidiary Baoxing Co., entered into an agreement to acquire 100% of Ping Yi mine operations."  The disclosure is consistent with both legal opinion (issued by a large and reputable law firm in China) and audit opinion (issued by an independent auditing firm after its FY 2011 year-end audit on the Company.) 

Ed Moy, L&L Board Director and Vice President commented, "Last April, I led investors on a tour of our operations in Yunnan and Guizhou Provinces of China, which included a visit to Ping Yi Mine.  Investors had a chance to meet and talk with our staff and local mine management. I can therefore confirm our ownership of Ping Yi Mine."

Regarding the sale notices mentioned by GeoInvesting in its article, the Company never authorized or prepared such sale notices.  Accordingly, the Company does not know the source of such notices.

As stated in the Company's last quarterly report, an accident that happened at a mine not owned by L&L (located a few miles from DaPuAn) had caused DaPuAn to be temporarily idled.  The Company is currently working with the local government to reach full production.  However, due to the way local governments and agencies operate, it is often extremely difficult to predict the overall impact of any governmentally initiated interruption on coal production.  Therefore, as already stated in our most recent 10-Q, "we believe that the Company will continue to experience periodic to frequent idling or production slowdowns until the consolidation process reaches critical mass and closes down small or high risk mines that were not acquired by a consolidator."

Dickson Lee, Chairman and CEO of L&L further commented, "L&L made an officer available to GeoInvesting for interview and also offered to answer GeoInvesting's questions directed to me in writing.  But GeoInvesting refused and insisted on speaking with me personally, at a time when I have been traveling extensively in Asia and frequently in very remote mining areas."

Given that GeoInvesting has made publication without proper verification, the Company with due respect, does not plan to respond to any of GeoInvesting's future publications. 

We are offering conclusive proof that L & L International LLEN does not own the Ping Yi Mine:

• We offer evidence that undoubtedly proves that LLEN did not purchase the Ping Yi Mine as it has been repeatedly asserted in SEC filings.
• We offer evidence that undoubtedly proves that the Ping Yi Mine is for sale by an investment group with no discernible ties to LLEN.
• We reference multiple data points across several official Chinese and SEC filings that precisely match information on the SAIC filing we have pulled. We argue this identical match is conclusive proof that we have not misidentified the Ping Yi Mine.
• One of our pieces of evidence includes an official government document published in a public news periodical that supports our conclusion that LLEN does not own the Ping Yi Mine.
• We spoke to the person representing the investment group selling the Ping Yi mine who repeatedly denies that LLEN ever purchased the mine.
• Directly check the current basic information regarding the Ping Yi Mine yourself with only a click. The investor can directly go to the Guizhou Province SAIC Office http://old.gzaic.org.cn/service/index_qyinfo.html to check the current status of the Ping Yi Mine. After typing the full name of Ping Yi Mine and security code, you can see that the current legal representative is Mr. Hu Shiwei, who is not affiliated with LLEN, and the current business license number is 5200002932260.

As previously stated in our original report, and even more so after further due diligence, we believe that LLEN shares are not investable and pose an extreme risk to long investors.　

We also take note of LLEN's two press releases this morning:

In the face of on the record, detailed accusations from researchers responsible for discovering a series of massive governance frauds at the like of YUII and PUDA, a press release promising a looming 25% revenue increase via expanded sales and marketing joint agreements should be seen as an attempt to distract investors from the grave matters at hand.

Similarly, as we continue to demonstrate, there is a large amount of conclusive documentary evidence from official sources that LLEN utterly ignores. Instead, its management appears unconcerned that someone is advertising one of their key assets for sale. In sum, we are being asked to trust their legal team and Auditor, Kabani and Co, a firm that has been involved in many of the most dubious reverse merger audits. We respectfully decline to give them our trust.

These evasions and tactics should be abundantly familiar to the burned investors of dozens of Chinese reverse mergers and bodes ill for the value of their capital.

Any long or short LLEN investor should read every page of the following report thoroughly.

See all the evidence! (and comment on slide share)

Disclosure: Short LLEN

Sincerely,

The GeoTeam

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January 13, 2012

In recent months, things have been pretty bad for Chinese coal company L&L Energy (LLEN). There have been public allegations of fraud, mine shutdowns and falling profits. The only bright spot has been the company�s valuation, which has stayed quite high relative to the rest of the China RTO sector (~$100 million market cap). As bad as things seem for LLEN, it could get much worse. That�s because the GeoTeam recently uncovered evidence that appears to indicate that LLEN does not own and never acquired the Ping Yi Mine. LLEN claims in its SEC filings that it acquired the Ping Yi Mine in January of 2010 and that the mine contributed close to 40% of the company�s total coal production for the financial year ended on April 30, 2011.

• The SAIC file of the Ping Yi Mine shows that the Ping Yi Mine is currently held by a private investment group, rather than the LLEN subsidiary, Fuyuan County Baoxing Economic & Trade Co., Ltd., the company identified as the acquirer of the mine in SEC disclosures.
  
• In a truly mind-blowing development, this investment group has put the Ping Yi mine up for sale during the second half of 2011. There are multiple readily navigable web links in China that address the sale of the mine:
   
  • China Mining Industry Consulting Network, (see also, English translated page)
  • Global Mineral Resources Network, (see also, English translated page)
  • My Coal Network, (see also, English translated page)
    

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Need to raise capital has has become more explicit:

We will need to raise additional capital to expand our operations, both to fund additional investments in capital equipment and technology to increase production and improve safety at existing facilities and to acquire additional profit making operations.

Second Quarter 2012 Financial Summary

Ian Robinson, Chief Financial Officer, stated, "Our earnings and revenues have seen improvements from our first quarter as a result of our mining operations beginning to ramp up production in accordance with the changing regulatory environment. Although second quarter results have improved, we are still seeing the effects of intermittent temporary slowdown and idling of all mines in our region by the government."

• Revenues were $41.9 million, up 14% from the first quarter
• Net income was $5.25 million, up 70% from the first quarter
• Gross profit was $12.4 million, up 51% from the first quarter
• Earnings per share was $0.11 per diluted share compared to $0.35 in the 2011 Second quarter

Dickson Lee, Chairman and CEO, commented, "I expect a challenging environment for our current operations to continue throughout the course of the consolidation process. However, we have positioned ourselves very well to benefit from the consolidation in the long run with the support we have received from the government and local banks. Additionally we are bolstering up our operations in Guizhou with the addition of new wholesale operations. This will increase our visibility throughout the region and create a strong revenue base."

Lee continued, "This past year has been challenging. The capital markets have also caused us to slow our acquisition plans, but as the business cycle turns, L&L will be well positioned to take advantage of this tremendous growth opportunity in Guizhou."

SEATTLE, Dec. 5, 2011 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S. based company since 1995 with coal mining and distribution businesses in southwest China, announced today that its subsidiary has entered into a long term joint sales agreement with China Chengtong Metal Corporation ("CCMC") to jointly market/sell one million tons of coal in China during calendar 2012, starting in February.

DaXing- L&L (Guizhou) Coal Inc., a new L&L wholly owned coal subsidiary based at L&L's Hong Gou office, entered the joint sales agreement with China Chengtong Metal Tianjin Company, a wholly owned subsidiary of CCMC, a large China state owned enterprise specializing in coal and metal trading throughout the north China and inner Mongolia markets. The Tianjin company is a market oriented sales unit with strong existing coal customers and recently demonstrated substantial sales growth. The joint sales agreement will synergize both company's resources, sales network, and share geological market information forming an integrated coal supply chain to service additional customers in the growing China coal market.

The parties will work collaboratively to source and sell/market one million tons of coal (both coking and thermal coal), in calendar 2012. The sales agreement will generate approximately $150 million in revenues if fully executed, using a $150 per ton coal price. 

SEATTLE, Sept. 21, 2011 /PRNewswire/ -- L & L Energy, Inc., (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, announced that LLEN shareholders re-elected all seven directors with over 98% of the vote during the September 15th Annual Shareholders Meeting.

During the meeting Dickson Lee, Chairman and CEO, gave an in depth presentation on the tremendous growth opportunities that L&L will be focusing on in the Guizhou Province. Highlights from Mr. Lee's remarks included:

• Details regarding L&L's meeting with Guizhou's Vice Governor and Energy Bureau Chief where L&L received an endorsement to take a leadership role in the consolidation process.
• 1,600 locally owned mines currently operating in the Guizhou Province will be reduced to 200 or less under the outlined plan.
• L&L is the only American owned and US publicly listed company in Guizhou, which is unique from the government's perspective.
• L&L is working with one a large local commercial bank that may assist with financing.
• L&L signed letters of intent with owners of 14 locally operated mines in the Guizhou Province who are willing to be acquired by L&L, subject to further due diligence.

Dr. Syd Peng, L&L Director and world renowned mining expert from the US, commented on his planned visit to Guizhou, saying "I am eager to get on the ground and help L&L target quality acquisitions. We will evaluate each mine's geology and mining operations, emphasizing safety and mechanization. Our goal is to apply a US level of standards to China, which will bring long term benefit to the Company and its shareholders.

LLEN was more direct in its Fiscal 2011 first quarter that it will need to raise capital to implement its growth plans, but less specific than other filings in the tools it will utilize to raise capital:

Fiscal 2012 first quarter

We will need to raise additional capital to expand our operations, both to fund additional investments in capital equipment and technology to increase production and improve safety at existing facilities and to acquire additional profit making operations.

Fiscal 2011 10K

Management presently believes that cash flow from operations and increasing access to credit will provide the company sufficient capital resources for the infrastructure, mechanization, and safety elements of its business strategy. To implement its acquisition strategy, in conjunction with the government mandated consolidation of mines, the Company may consider the issuance of additional debt or equity securities. In addition to potential externally raised funds, the Company intends to utilize a combination of existing cash on hand, cash flow from operations, and seller paper to finance the acquisition of mines.

First Quarter 2012 Results

Results of Operations

Fiscal 2012 First Quarter Summary and Recent Highlights

• Accelerated Guizhou Provincial Consolidation policy creates tremendous growth opportunity for L&L
• CEO, Dickson Lee, meets and receives endorsement from the Vice Governor of Guizhou for L&L to take a leadership role in the provincial coal consolidation process
• L&L signs letters of intent with 14 operating Guizhou mines that collectively produce approximately 3 million tons per year
• L&L enters into a Memorandum of Understanding with Tianjin Fuhao, a fully-owned subsidiary of Tianjin Materials and Equipment Co., and a leader in coal logistics and infrastructure in China
• Revenues and earnings were negatively affected during the last quarter and this quarter due to temporary idling of all company-owned mines. In accordance with the provincial-wide mandate, approximately 1600 mines in Guizhou were temporarily idled. Three of four L&L mines are now back in operation
• Revenues for the first quarter were approximately $36.7 million
• Net income was $3.08 million
• Earnings per share was $0.08 per diluted share
• Operating profit was $4.24 million
• Gross profit was $8.19 million

In this quarter our net revenues decreased to $36.7 million during the three months ended July 31, 2011, down from $55 million during the same period the year before. The decrease was primarily due to the government's temporary slowdown and idling of all mines in our region, coupled with the cyclical low summer season.

The idling of mines and regional shut downs had negative effects across all segments of our business. Revenues from mining operations for the first quarter were $7.3 million. Our washing and wholesale segments were affected by the lack of coal. Revenues from coal washing decreased over the first quarter to $18.98 million and revenues from wholesale operations decreased to $4.46 million. The volume of sales dropped due to decreased supplies of raw coal and fine coal in Yunnan and Guizhou. Coking was also negatively affected, with revenues for the first quarter being $6.64 million.

Our gross profit was margin was reduced to 22%. Mining, which typically has had the highest margin, was impacted most by the idling. Secondly the vast majority of our work force stayed on payroll and spent significant time implementing upgrades to meet increasing safety and regulatory standards.

"Our earnings and revenues were affected across all segments of our business by the idling of our mines during mandatory, but temporary closures and slowdowns issued by the local government," said Ian Robinson, Chief Financial Officer of L&L. "The negative effect on our numbers are temporary and we support the government's stance on increasing accountability and safety in our industry. We continue to work with the local provincial governments to take the lead in increasing the standards of not only safety, but also operational efficiency. We expect that the government will play a major role in supporting consolidation efforts and we look forward to working with them to ensure safe and efficient operations within the region."

Dickson Lee, Chairman and CEO stated, "Continued negative perception on companies who operate in China has slowed our growth plans. However we continue to improve our foothold in the coal industry and have been able to make tremendous strides in positioning ourselves at the forefront of a number of opportunities in South China. We are focused and confident in our position to take a leadership role in the Guizhou coal consolidation process and with the support of the local government, we have been able to sign letters of intent with 14 potential mines that collectively could yield US$500 million in revenues. The next step will be to have Dr. Syd Peng, an L&L Board Member and world-renowned coal expert, lead our acquisition team on a trip through Guizhou to evaluate each potential acquisition.  Dr. Peng is a recognized expert in underground mining in both the U.S. and China and will be able to assist our very strong mining and acquisition team in China to evaluate each mines' management team and mining operations, including mechanization potential, safety, and production expansion capabilities."

Lee continued, "The potential in Guizhou is huge, and going forward I expect we will expend a tremendous percentage of our resources on this potentially game-changing opportunity."

The government took action and issued the provincial-wide temporary closure due to several fatal mine accidents (our mines had no accidents) in South China during the spring. Our Yunnan mines have resumed production, although are undergoing improvements in accordance with the recent regulatory changes. Our Da Ping mine has been approved to resume production and is currently expanding its production capacity. However, our Ping Yi mine remains idle as of July 31, 2011.

SEATTLE, Sept. 6, 2011 /PRNewswire/ -- L & L Energy, Inc., (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, announced that it has signed Letters of Intent with 14 operating coal mines in the Guizhou Province. The mines produce primarily coking coal and have been collectively approved for 3 million tons of annual coal capacity. If executed, based on current market prices, it would yield approx. US$ 500 million in revenue.

In an effort to increase mine size and improve production efficiency, the Guizhou Province recently announced a plan to reduce its 1,600 locally owned mines to some 40 holding companies. The government also mandates that total coal production in the province be increased by a 40%, equating to 300 million tons per year by 2015. L&L's acquisition team has been working hard at the forefront in the consolidation process, which could result in exponential revenue growth. L&L is the only American owned, and U.S. public listed mining company in the province with strong U.S. management skills, and 16 years of in-China experience. The Company is working with Asian and local sources to finance the acquisitions.

Dickson Lee, Chairman and CEO of L&L Energy commented, "Guizhou's accelerated consolidation plan provides an enormous profit opportunity. In my recent meetings with Vice Governor of Guizhou and the Chief of the Energy Bureau, we were encouraged to target 5 million tons of capacity and to take a leadership position in the Guizhou consolidation process. With our deep relationships in the region and our success of bringing U.S. operating standards to China, I am confident in our position moving forward. A U.S. technical team, led by L&L board member Dr. Syd Peng, will head to China in September to supervise the acquisitions. Based on the team's assessments of geology, staffing and consultation of local agencies, we will execute appropriate mines in our first round of acquisitions."

SEATTLE, Aug. 29, 2011 /PRNewswire/ -- L & L Energy, Inc. (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S. based company since 1995 with coal mining and distribution businesses in China, today announced that the Company's Chairman and CEO, Dickson Lee, has converted $420,000 of his prior loan to the Company into LLEN common stock at $8.50 per share.  The closing price of LLEN common stock on Friday, August 26th was $3.42. The loan was made in early 2011 to support the funding of Bowie mine. 

Mr. Clayton Fong, Executive Vice President of L&L commented, "Mr. Lee's conversion of his personal loan into LLEN shares at $8.50 has received endorsement from the Company's Board Directors. The large conversion premium displays Mr. Lee's confidence in the company.  I share his belief that LLEN's current market capitalization does not reflect the value of our operations, and it substantially discounts the tremendous growth opportunities in Guizhou Province's coal consolidation."

Fiscal Year 2011 Financial Results

• Revenues generated in fiscal year 2011 increased to approximately $224 million up from $109 million, in 2010.
• Income from continued operations for fiscal year 2011 increased to approximately $37 million compared to $31 million in 2010.
• Fully diluted earnings per share from continued operations for fiscal year 2011 were approximately $1.21 vs $1.28 in 2010

Dickson Lee, Chairman CEO of L & L, commented: "I am pleased to report that our revenues experienced strong growth, primarily attributable to the execution of our organic expansion plans. In April of 2011, the last month of the fourth quarter, we cooperated with local authorities to slow down mining production to enforce safety standards, which was the primary reason we missed our guidance on net income for this fiscal year. Our results for this fiscal year continue to illustrate our ability to increase the production capacity of our existing operations, conduct accretive acquisitions, such as the DaPing mine, as well as our flexibility to work under increasing government safety requests."

Lee also commented," As the Guizhou coal mining consolidation has started in April, L & L is ready to take on these opportunities and challenges to demonstrate our leadership and prowess in becoming a leader in the China coal industry."

L & L Energy, Inc. (“L&L” or the “Company”) is filing this Amendment to Form 10-K (this “Form 10-K/A”) to amend that Form 10-K filed on July 28, 2010 corresponding to the annual report for the Company’s fiscal year ended on April 30, 2010 (the “Original 10-K”).  This Form 10-K/A amends the Original 10-K’s Part II, Items 6 and 8 to:

(i)                  (a) reclassify $3,729,784 recorded as “Intangible assets, net” in the Original 10-K as “Property, plant, equipment, and mine development, net” in this Form 10-K/A, (b) reclassify 557,202 recorded as “Current Assets – Prepaid and other current assets” in the Original 10-K as “Equity – Deferred stock compensation,” and (c) make conforming changes to “Working Capital,” “Total assets” and Total Shareholders” Equity under Item 6 – Selected Financial Date – Balance Sheets Data,”; and

(ii)                file herewith two updated reports issued by Kabani & Co. Inc., the Company’s independent auditing firm (the “Independent Auditing Firm”) to disclose the firm’s adverse opinion on the Company’s internal control over financial reporting as of April 30, 2010 (originally the Independent Auditing Firm issued a “disclaimer” opinion on the Company’s internal control over financial reporting).

Please note that some of the aforementioned reclassifications, adjustments, and additional disclosures contained herein have resulted from comments issued by the Securities and Exchange Commission of the United States (the “SEC”) during the review process related to filings made by the Company.  .  For clarification, the filing of this Form 10-K/A shall not be deemed any indication that the original Form 10-K, when filed, included any untrue statement of a material fact or omitted to state a material fact necessary to make a statement therein not misleading.

SEATTLE, July 1, 2011 /PRNewswire/ -- L & L Energy, Inc., (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company since 1995 with coal mining and distribution businesses in China, announced today that Ian Robinson, CPA, will join the Company as Chief Financial Officer, effective June 30, 2011.

SEATTLE, May 23, 2011 /PRNewswire/ -- L & L Energy, Inc.,  announced today the formation of Yunnan L&L Tai Fung Coal Co. Ltd. ("Tai Fung") in the Yunnan province of China.

SEATTLE, March 28, 2011 /PRNewswire/ -- L & L Energy, Inc. announced that it has entered into a contract to acquire a majority controlling interest (60%) of the DaPing coal mine. The acquisition became effective on March 15, 2011.

The DaPing mine is located in PanXian, Guizhou Province in China. The mine currently produces approximately 150,000 tons of high-quality, low-sulfur metallurgical coal per year and is expanding to 300,000 tons of production capacity, which is expected to be completed in 2012. The Mine is expected to generate an estimated $36 million in annual revenue based on current production capacity and an average coal price of $240 per ton. The Mine is expected to contribute an estimated $11 million in net income attributable to L&L for the fiscal year ending April 30, 2012.

SEATTLE, March 15, 2011 /PRNewswire/ -- L & L Energy, Inc., today announced financial results for its FY Q3 2011 ended January 31, 2011.

• Revenues for the FY Q3 2011 were $65.9 million, an increase of 74% from the $38.0 million reported in the same quarter last year. Sales growth was driven by sustained demand for coal as well as price increases.
• Gross profit grew 33% to $21.4 million, compared to $16 million for FY Q3 2010. Gross margin declined slightly sequentially to 32.5% as compared with 33.5% in the prior quarter and reflects increased levels of coal washing at the expanded Hong Xingwashing facility.
• Operating expense remained steady at nearly $4.9 million. Operating margin increased to 77% from 75%, reflecting the increased sales level.
• Operating income grew 26% to $16.5 million as compared to $13 million in FY Q3 2010. Earnings per share of $0.41 grew 21% as compared to $0.34 in FY Q3 2010.

"Demand for coal in our operating region of Southwest China remains robust," said Dickson Lee, Chairman and CEO of L&L. "We are encouraged by our strong results, our partnership with Bowie Resources in Colorado, and ongoing discussions with the Zhanjiang Port in China. We anticipate sustained demand for our fiscal fourth quarter, driven by ongoing overall economic growth."

Dear Fellow Shareholders,

I am pleased to report to you on our progress and recap our accomplishments during 2010. This has been a year of growth and advancement for L&L Energy, and I want to begin by thanking all of you for your support as we continue to strive to become a world-class coal provider with a global footprint.

We kicked off the 2010 calendar year by changing our name from L&L International Holdings to L&L Energy, a strategic decision that symbolized our focus on penetrating the opportunities in China's energy market, specifically coal mining and distribution. The following month, we received approval to begin trading on the Nasdaq Global Market exchange, which provided a significant boost to our volume and visibility.

Our rapid operational growth and growing reputation have also engendered wide recognition for L&L since our initial Nasdaq uplisting. In June, our stock was added to the Russell 3000 Index, giving us greater institutional exposure due to the index's wide acceptance as a market benchmark. In October, we were added to the Halter USX China Index, a popular benchmark of U.S.-listed Chinese companies. Lastly, we announced just a few weeks ago that our stock will move to the Nasdaq Global Select, which has the highest initial listing standards of any exchange in the world based on market value and financial requirements. Each of these accomplishments is its own confirmation of the progress we've made in developing our business in 2010.

From a financial perspective, this year has been successful. Our 2010 fiscal year, which ended in April, yielded record results including 167% year-over-year revenue growth and 230% net income growth. We are on track for another record year financially in fiscal 2011; in fact, our revenues of roughly $113 million in the first two quarters already exceed our total sales for fiscal 2010.

Commitment to Safety and Quality

Since our inception, safety and regulatory compliance both in China and in the U.S. have always been two of our chief concerns, and in 2010 we have made a number of decisions, some difficult, to uphold our commitment to excellence in these areas. While our mines have an exemplary safety record, we recognize the inherent risks and the safety problems that have plagued the industry in China for years. In May, we publicly reaffirmed our pledge to constantly improve the safety practices of our own mines and, by introducing higher U.S. standards in our acquired operations, to serve as a model for other mine operators to adopt and improve upon.

Our commitment to safety was tested in a very tangible way this year as we evaluated the potential acquisition of Shunda Mining Co. The transaction appeared promising and would have substantially increased our mining and washing capacity. However, after completing due diligence we determined that we would have been unable to satisfy our internal standards with this acquisition and withdrew from negotiations. While we sacrificed significant revenues and profit in the short-run by forgoing the acquisition, our management team believed that the decision was in the best interests of our investors. Moving forward, however, we are actively seeking out other acquisition targets of similar size that could increase our production capabilities and profitability, and we are currently evaluating several attractive options.

Addition of Top Talent

We are dedicated to building and retaining a management team of the highest caliber. We are excited about the new directors and senior executives we've brought on this year, beginning with our operational director Dr. Shen-Lin Chang, who has over 30 years of industry experience and oversees our daily operations in China. In August, we were very excited to add former U.S. Secretary of Commerce and Secretary of Transportation Norman Mineta to our board of directors. Mr. Mineta, who now serves as vice-chairman of the board, brings a wealth of experience, insight, and established relationships in both the public and private sectors to L&L, and we have greatly appreciated his contribution these past few months.

As we build our business, we understand the importance of continually expanding all aspects of our organization. Finances and financial controls are a very big piece of any public company, and given our substantial growth, we have needed to continually build out this department. Our Director of Accounting for China Operations David Lin, CPA who has worked for several Big Four accounting firms including Arthur Andersen, KPMG, and Deloitte, and our Chief Accounting Officer Paul Cheng have both joined L&L recently and will be very valuable members of our team. We also anticipate further expansion of our financial staff as we continue to grow.

Most recently, Edmund C. Moy has joined the Company as Vice President of Corporate Infrastructure. Mr. Moy's appointment will be effective January 10, 2011, and his key areas of responsibility will include corporate development, global logistics, and general administration. Mr. Moy joins us from the United States Mint, where he has served as 38th Director of the Mint since 2006. In this capacity, Ed oversaw over 2,000 employees and we look forward to the perspective and experience he will bring to our team.

Growth & Acquisitions

Our dramatic growth over the past year has been a combination of both acquisitions and organic expansion. In the second half of last fiscal year, we completed a number of substantial acquisitions of mining assets; coal washing facilities and coking facilities. Post-acquisition, we spent the next several months integrating and improving these businesses from an operating and financial perspective. During this time, we took the opportunity to rapidly expand the production of these operations, which significantly added to the value of our business. We also utilized our cash flow from operations to build a new coal washing facility that enabled us to further vertically integrate our company for future growth.

This expansion of capacity in our coal washing business has allowed us to focus largely on acquiring and expanding coal mining assets in the coming year, as opposed to washing or coking. Coal mining is the core focus of our business and generates substantially higher margins for our investors. Also, we have found that, post-acquisition, we are able to organically expand coal mining assets to a much greater degree by utilizing Westernized management and mining philosophies. Thanks to our established resources and infrastructure, as well as the due diligence experience we gained in analyzing Shunda, we are able to target significantly larger mining acquisitions in terms of production, revenue and profitability this year than we did a year ago.

In a strategic first step, we recently provided a $3 million loan to Bowie Resources, which owns and operates the Bowie coal mine in Colorado, with the option to acquire a 9% equity interest in the company. We see this as an excellent opportunity to acquire a portion of a high-quality, U.S.-based coal mining operation with an experienced management team at an attractive price. Our efforts in North America are 100% focused on expanding our business globally. We want to be able to secure supplies in the U.S. through loans, acquisitions, and partnerships to export the coal to China. If we can source very good coal from the U.S., ship it to China, and then blend in coal from our Chinese operations while still keeping the quality of our coal well above the relevant standards, we will be able to provide strong returns for both our investors and our U.S. partners.

2011 Market Outlook

We believe the Chinese coal market will remain robust in 2011. We operate in South Central China, which has a great need for both met coal and thermal coal, between which our business is appropriately balanced. We very much like operating in the South due to the relatively less competitive environment compared to in the North, as well as the fact that transportation of coal in China is substantially easier in the South. Central China is significantly less developed than the coastal regions, and we believe the area will experience a substantial expansion of infrastructure, as well as a growing need for energy, for many years to come. We are currently seeing very attractive coal pricing for both products as well. As China becomes more internally developed and continues to expand its GDP, we believe this will further stabilize the local and national economy as well as increase the need for coal.  

As we look toward the coming year, we are optimistic regarding our prospects. Over the next few years, we believe we will become a significantly larger and stronger company driven by both the continued global demand for coal and the drive and passion of our managers. Thank you for your continuing support, and happy New Year!

Sincerely,

Dickson Lee

Chairman & CEO, L&L Energy, Inc.

Fiscal 2010 Second Quarter

• Total revenue jumped from $24.5 million to $57.4 million compare to last year, approximately 135% growth.
  
  
  • This is due to our acquisition decision.
  • During the three months ended October 31, 2010, our coal mining net sale decreased by $436,423, approximately 4% decrease compared to the three months ended October 31, 2009. This sales decrease was mainly due to increase in intersegment sales from Ping Yi mine to its washing facility.
  • Total intersegment sale was $6.6 million, which was eliminated from our mining revenue.
  • Coal wholesale went up by 48% due to higher coal price and increase volume this year.
  • Coal washing revenue went up sharply in 2010 because we acquired HongXing Coal Washing Facility and established of Ping Yi Coal Washing Plant.
  • Coal Coking revenue increase because we acquired ZoneLin Coal coking facility in 2010 with production capacity of 150,000 tons annually.
     
• Our gross margin went down from 52% to 34% for the period due to two factors. First, expansion into washing and coking are lower margin businesses, but vertical integration increases the overall value of the business and adds stability to the supply chain. Second, expansion of capacity and increases in safety standards on new acquisitions require up front investments.

• Net income attributable to Common shareholders was $11,060,858 vs. $6,946,781.

• Fully diluted EPS was $0.35 vs. $0.29.

L&L Energy Announces Preliminary Second Quarter Fiscal Year 2011 Financial Results 

• Record Revenue of $57.4 million in Q2 Increased 135% Year-over-Year and 3.8% Quarter-over-Quarter
• Gross Profit of $19.2 million increased 135% Year-over-Year and 3.8% Quarter-over-Quarter
• Record Net Income of $12.7 million
• Earnings per Share of $0.35 increased 21% Year-over-Year
• Doubled Production for two Acquired Mines to 300,000 Tons
• Company Entered into Agreement to Provide Loan to High Quality U.S.-Based Bowie Coal Mine

"We are very pleased with our continued strong performance in the second quarter," said Dickson Lee, Chairman and CEO of L&L. "Our continued focus on the improvement of our acquired operations has enabled us to more than double revenue compared to last year's quarter. Additionally, our agreement to provide bridge financing to the Bowie Mine is an exciting first step that extends the company onto the global stage. 

2011 Fiscal First Quarter:

• Shunda Mining Company acquisition is taken off the table.  During the LLEN's due diligence process, management spotted safety record issues that would have increased business risk.
  
• Assured investors that the company is evaluating additional accretive acquisition targets that could help exceed financial guidance; Believes a transaction will be consummated before the end of 2010.
  
• Reaffirmed that company guidance does not include acquisitions.   
  
• Addressed sequential decline in gross margins: The company continues to diversify its business and reduce overall business risk. Part of this strategy includes ramping up its coal washing business which carries less margin than direct mining operations.  Management also noted that the company has made some investments that may benefit margins going forward.
  
• Vertical integration strategy and emphasis on being a service provider gives it pricing power.
  
• Financing goals: Appears that the company will use debt over equity in the current market environment.
  
• L & L Energy has strengthened its internal control procedures.
  
  
  • Hired internal auditors and a CPA from Arthur Anderson.
  • Will continue to upgrade professional staff.
  • Contemplating retention of a new auditor.

L & L Energy reported preliminary results for its fiscal 2011 first quarter:

• Revenues for the first quarter increased approximately 336% to $55.3 million, compared with revenues of $12.7 million in the same period a year ago.
  
• Gross profit for the first quarter increased to $18.6 million, up approximately 207% compared with $6.1 millionin the same period a year ago.
  
• Net income increased approximately 306% year-over-year to $10.9 million, compared with $2.7 million in the same period a year ago.
  
• Earnings per share for the quarter totaled $0.36 per diluted share, an increase of approximately 177% compared with $0.13 in the same period a year ago.

"We are delighted to be able to announce such exceedingly positive preliminary results for our first quarter," commented Dickson Lee, Chairman and CEO of L&L. "We continue to experience the accretive effects of the four acquisitions we made last year, as well as the benefits of operational improvements at those facilities. China's government recently reiterated its commitment to consolidate the coal industry and support mergers and acquisitions of smaller mines, which form the crux of our strategic expansion. We look forward to sharing our full quarterly results with our shareholders shortly.  We expect strong continued growth for the rest of the year as we continue to execute our core businesses, integrate our recent acquisitions, and seek out new growth avenues."

GeoTeam note:

According to analysts estimates, LLEN has one more quarter left of above average EPS growth, before EPS growth is forecast to slow for a few quarters.

Source: Reuters

We have referenced this issue in the past. Please be aware that 2011 company EPS guidance of $1.61 is greater than analyst estimates.  Also keep in mind that LLEN goal is to pursue accretive acquisitions.

Fiscal Year 2010 Financial and Operating Highlights

(Pending Finalization of Audit)

Management believes that:

• Revenues generated in fiscal year 2010 increased to approximately $109 million, up from $41 million in 2009, representing a 166% increase.
• Operating income for fiscal year 2010 doubled to approximately $39 million, compared to $19 million in 2009
• Net income for fiscal year 2010 tripled to approximately $30 million, compared with $10 million in 2009
• Fully diluted earnings per share for fiscal year 2010 were approximately $1.17, up from 2009 EPS of $0.46.

Dickson Lee, Chairman and CEO of L & L, commented: "We are thrilled to report such dramatic growth in our fiscal year April 30, 2010 results.  We believe our financial performance in 2010 showcases the effectiveness of our aggressive growth strategy.  We have seen strong organic growth this year, coupled with an unprecedented number of successful acquisitions, which resulted in sales growth of 2 1/2 times.  The integration of these new additions into our existing operations will continue to benefit the Company. We will continue to look for other strategic actions to create the best possible value for our shareholders. We expect continued high demand for our products in the long-term, as approximately 80% of China's electricity generation is fueled by coal. We look forward to fiscal year 2011 with enthusiasm, and will share any new developments as they materialize."

Financial Outlook for Fiscal Year 2011

Management reaffirms previously stated guidance of $218 million in revenue and $46 million in net income for fiscal year 2011 ended April 30, 2011. These organic growth projections translate to EPS of $1.61 based on 29 million shares outstanding today. This does not include Company's potential acquisitions. Revenue and net income guidance projections for fiscal year 2011 represent year-over-year growth of 100% and 56%, respectively, from 2010.

The Company expects

• Revenue of $218 million for the 2011 fiscal year ending April 30, 2011 which represents growth of approximately 102% over previously released 2010 guidance of $108.1 million.
• Expects net income after tax and minority interest to grow from an estimated $28.1 million in 2010 to $46.7 million in 2011 for an increase of 66%. The Company is
• Earnings per share of $1.33 for 2011, an increase of 41% over previously released 2010 guidance EPS of $0.94 for the fiscal year 2010.

Removing L&L Energy from the GeoBargain list. The company issued bullish fiscal 2011 annual guidance. However, breaking the guidance down on a quarterly basis will likely not result in the quarterly 30% EPS minimum growth required for a GeoBargain.

Added to the GeoBargain List on May 19, 2009  @ $1.90

Reached a high of $14.91 in April 2010.

Current price $10.25

Management believes revenues and earnings would exceed the previously provided guidance released in March 2010. Management said that it expects fiscal 2010 annual revenue ended on April 30, 2010 to be higher than $108.1 million. The Company also believes net income would exceed the previously announced $28.1 million, or $0.94 EPS, on a GAAP basis, subject to final audit.

"We have two important elements working in our favor: first, demand for coal in the world's fastest growing economy, China, continues to exceed supply; and secondly, the PRC's mandate that smaller coal mines make infrastructure investments to improve efficiency and safety or face being shut down. With the mandate in process, we intend to acquire more profitable coal mines and help comply with the PRC mandate, that will bring in significant revenue and profits."

Valuation Scenarios

Coded as a GeoBargain on May 19, 2009 at a price of $1.90

Data Inputs:

Fiscal Year Ends in April
 

The GeoTeam® listened to the L & L Intl Holdings Red chip virtual presentation reply that took place on December 1, 2009.  Dickson Lee once again expressed his enthusiasm regarding L & L's outlook.

Important points from the presentation:

• LLFH up-listing efforts are progressive smooth.
• The Chinese economy is healthy, driving coal demand.
• Coal consumption for next 20 years is forecast to be robust.
• Coal demand is influenced by demand for steel and energy.
• China is strongly encouraging consolidation in coal mines seeking to increase efficiency, capacity, safety and environmental standards. This has afforded LLFH opportunities to acquire mines at favorable prices and attractive terms.
• LLFH's goal is to acquire income producing mines (already in operation) since it takes time to profitably operate a new mine from the ground up.
• LLFH is seeking to modify the terms of the Hon Shen acquisition to even more favorable terms 
• LLFH is on track to meet  or surpass its fiscal 2010 EPS guidance of $0.94.
  • Operations are generally exceeding expectations
  • LLFH recently upped its ownership interest in Hon Shen coal washing operations from 65% to 93%. The Company's original guidance only assumed a 65% interest.
• 2nd quarter results will be issued within ten days.

The Company has not  issued a release on these matters which may give astute investors an opportunity to purchase shares ahead of the masses.

This morning LLFH announced the closing of a financing deal with Laidlaw & Company.  This is significant as LLFH previously stated fiscal 2010 guidance was contingent upon financing, which was also reaffirmed. The GeoTeam® is still awaiting news of an exchange uplisting.

Source: PR News Wire (October 9, 2009) 

Yesterday, LLFH released its fiscal 2010 first quarter financial results. 

At first glance the results were not up to par to what we were looking for. However, the following factors have to be considered :

1. Less than one month of sales were included in its recently acquired coal washing facilities.

2. The GeoTeam® is assuming that there may have been some one time integration costs associated with the coal washing facilities.

3. In its Rodman investor presentation LLFH issued very bullish guidance.

4. Comments from the company remain bullish:

"In the next quarter, L&L will show a full 3 months of operations from coal washing and results will be much more impressive as Hon Shen and DaPuAn have a combined annual capacity of over 500,000 tons."

Source: PRnewswire (September 15, 2009)

^a The above forecasts reflect the Company's current and preliminary views and are therefore subject to change. Please refer to the Company's Safe Harbor Statement (usually in press releases) for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.

^b Guidance is subject to funding requirements.

Excerpt from the GeoTeam's® initial report on L & L Intl Holdings.

Tying It All Together

L&L's favorable revenue guidance along with industry trends have prompted the GeoTeam to follow the LLFH story. At a quick glance the the stock is selling at at P/E of just 5 times the fully taxed adjusted 2010 analyst EPS estimate of $0.39 (Analyst estimate is $0.47) Furthermore, this estimate is likely conservative for three reasons:

1. The estimate is based on revenue of $55.1 million which is below the company's recently stated guidance of $95 million.
   
2. The estimate is based on 22.49 million diluted shares outstanding. The company currently has 20.5 million diluted shares outstanding.
   
3. The estimate does not include the revenue contribution from its new coal washing endeavor.

It should be safe to assume that analyst EPS estimates will be substantially raised. A quick rudimentary analysis implies 2010 EPS potential of $0.74 fully taxed. The company should be reporting 2009 year end results shortly, which will shed further light on the future, at which time the The GeoTeam will create detailed potential valuation scenarios.

Its also interesting to note that currently L&L owns 60% of its recently acquired mines. The company has commented, in its SEC filings, that it would like to pursue a 100% ownership. Depending on how such a deal would be structured it could add another element of EPS upside.

Valuation Scenarios

Coded as a GeoBargain on May 19, 2009 at a price of $1.90

Data Inputs:

Fiscal Year Ends in April
 

Fiscal Year Ends April

Source: See Filing for the period ended October 31, 2008

 
Fiscal 3rd QUARTER 2009 vs. 2008 FINANCIAL SNAPSHOT ENDED JANUARY

Source: See Filing for the period ended January 31, 2009

GeoNuggets®- Quick Check List Highlighting Undiscovered Opportunities.

L & L International Holdings (OTCBB:LLFH)

Price (5/22/09) = $2.10

Company Description: The Company holds and operates profitable coal mines and wholesale facilities in China.

L & L Intl Holdings is the newest addition to the GeoBargain List as it meets nine out of the ten GeoBargain® criteria and is taking the necessary steps to propel its growth to the next level.

	Requirement
	Recent 52-week High
	30% EPS Growth Rate
	10% Revenue Growth
	Strong Balance Sheet
	Positive Cash Flow
	Debt to Equity Ratio less than 20%
	Current Ratio is at least 2:1
	Return on Equity is at least 15%
	Minimum Pre-tax Operating Margins of 8%
	Preferably Under 50 Million Shares
	High Insider Ownership (generally greater than 15%)
	Limited Institutional Ownership
	P/E Divided by Growth Rate (PEG Ratio) is Less Than 1.

L & L Intl Holdings is not your typical U.S. Listed Chinese firm. The company has United States head quarters with an American influenced management team and has been in operation for 13 years. The Company recruits bilingual professional accountants, engineers, advisors and assigns them to China to improve operations and impart American management philosophy.

L & L Intl Holdings participates in the coal related business. The company's mining and distribution operations are in Yunnan, a coal rich province of China. Prior to coal mining operations the company was engaged in the business of selling air compressors to coal mines to pump air into mines. However, through this venture the company recognized a greater opportunity to directly participate in coal mining operations . Thus, to focus on this opportunity, L&L recently spun off its air compressor operation. The company's current strategy relies on three modes of revenue.

1. Wholesale Revenue. In 2006 L & L Intl entered into the coal aggregation market as a Wholesaler. The company gathers coal from entities that operate mines which, it then re-sells to its customers. The majority of coal mining operations in china are comprised of small "mom and pop" ventures. The players tend to be inefficient and unsophisticated and not large enough to supply the needs of large end user customers. Customers would prefer to purchase their coal needs from a few reliable source. This need has created a market for well organized firms such as L & L Intl.
   
   
2. Direct Mining Revenue. In 2008 the company made a decision to vertically integrate its operations and actually take ownership in coal mines. Doing so would help them meet the increasing demand for coal in china that far outweighs supply. This also makes strategic sense in that they have an existing loyal customer base who they can sell their coal to. Furthermore, direct ownership should result in higher margins compared to wholesale operations. The company executed this strategy in May 2008 when it acquired a 60% interest in two income producing coal mines located in the Yunnan coal rich region of China. Acquiring an income producing mine is significant as it generally takes 3 to 5 years for a new mining venture to become income producing. The GeoTeam found it interesting that customers actually pick up the coal from L & L Intl's mine locations, limiting transportation costs.

   Benefits to direct ownership of coal mines:

   • Direct mining business has significantly higher margins than the Wholesale business.
     
   • Will enable the company to increase its coal capacity, thereby attracting more customers and enabling it to meet the greater demand for coal in China.
     
   • Could make the company a viable acquisition target.
     
     
3. Coal Washing Revenue. Building on its vertical integration strategy the company just announced its entry into to the coal washing market. What is coal washing and its significance? Coal washing is a process that separates coal into "quality tranches." The coal is crushed and then doused with water. The washed coal is then separated by weight into categories of poor, medium and high quality. The higher quality tranche commands a higher price. When coal is sold unwashed it will thus command a lower price. Entering this market is a logical step as the company can now offer a complete product to its customers at higher prices. Customers also become more satisfied by knowing what they are buying and not having to outsource the washing process.

Reasons L & L Intl Holdings Has Piqued The GeoTeam's Interest

1. Poised For Major Revenue Gains. The Company's coal capacity is increasing:
   
   
   • The company plans to increase the capacity of its current two mines by 88% to 450k tons annually.
   • L&L owns an 85% interest in a third mine which is expected to receive an official license, becoming operational by the end of 2009, with an estimated 200,000 tons of annual coal capacity.
   • L&L owns a 65% interest in a fourth mine slated for operation in 2011.
   • At full capacity the new coal washing facility can process 300 million tons and can produce annual revenues of $30 million.
   • The company's vertical integration should enable it to gain more customers as a one stop shop source for coal.
   
   
2. Industry Dynamics Are Favorable
   
   
   • Coal represented over 70% of China energy source in 2008.
   • China's Stimulus Plan is already giving a boost to its economy.
   • L&L's operations are located in the Yunnan Province whose infrastructure demands require large quantities of steel, coke, and coal.
   
   
3. Margins to Remain Healthy
   
   
   • Vertical integration into direct mining activities should increase overall margins.
   • Coal prices should increase which becomes more advantageous as the company strengthens its direct mining endeavors.
   • Vertical integration into coal washing should create greater pricing power.
   
   
4. Competitive Advantage
   
   
   • Vertical integration should enable it to retain and attract new business as a one stop shop.
   • The Company's American management philosophy and organization make it more attractive than inefficient fragmented competitors.
   
   
5. Focus on Enhancing Shareholder Value
   
   
   • The company shares information with Wall Street.
   • The company recently reduced its shares outstanding to approximately 20.5 million shares from 22.5 million shares, which will help to drive EPS growth.
   
   
6. Favorable 2009 Guidance

   On April 28, 2009 L&L issued revenue guidance of $95 million. The company reported revenues of $30 million for the nine months ended December 2008. Furthermore, this guidance does not include the revenue contribution from its new coal washing endeavor.

L&L's favorable revenue guidance along with industry trends have prompted the GeoTeam to follow the LLFH story. At a quick glance the the stock is selling at at P/E of just 5 times the fully taxed adjusted 2010 analyst EPS estimate of $0.39 (Analyst estimate is $0.47) Furthermore, this estimate is likely conservative for three reasons:

1. The estimate is based on revenue of $55.1 million which is below the company's recently stated guidance of $95 million.
   
2. The estimate is based on 22.49 million diluted shares outstanding. The company currently has 20.5 million diluted shares outstanding.
   
3. The estimate does not include the revenue contribution from its new coal washing endeavor.

Plan of Operations

As China does not substantial petroleum or natural gas reserves, different from that of the US, 71% of China energy is relying on coal. As China economy continues coal grow at high speed, supply of coal cannot meet the demand, thus drives coal prices upward in the recent years. This continuing demand of coal provides a leading, competitive edge for L&L energy operations, which is based on the coal rich region of Yunnan Province in the southwestern area of China. Yunnan’s strong infrastructure demands large quantities of steel, coke, and coal supplies in the next 3 years. As a result, the Company plans to expand its energy business via M&A existing operation to following government’s oligopoly policy that is to aim to eliminate many small inefficient coal mines, to increase operational efficiency and safety standards.

The Company has entered 3 MOUs to acquire other energy related entities in Yunnan Province in July of 2008, following its policy to continuously acquire and expand other profitable energy entities in China and other parts of the world. Due to the unexpected Wall Street financial crisis, happened in the summer of 2008, the US liquidity is dried up which resulting a delay of the Company funding process. It is the Company’s plan to focus on funding while upgrading its team by inviting additional qualified professionals to help growth.

L&L is a US company, public listed in the US OTC-BB market since 8/4/2008. L&L is known to have organizational skills and visions to upgrade the coal mining standards, which most of the local small China miners do not have. To ensure its growth momentum, L&L is investing its time and resource to develop strategic relationship with large Japanese coal trading firms, not only to learn the high standards of Japan coal operations but also to take advantage of price differences between the higher international coal markets, and lower China domestic markets, following the Company international operational policy.

The Company seeks institutions capital funding to increase its business competitive advantages and to fund acquisitions. The Company registered the KMC and LSP investments with the Chinese government, and is in process to register the 2 Mines (“L&L Coal”) and recruit experienced managers to join in as executives, when financial resources become feasible.

Source: SEC Form 10Q (FOR THE FIRST QUARTER ENDED ON October 31, 2008)