L&L Energy, Inc. ("L&L"), a coal-mining company founded in 1995, is incorporated in the State of Nevada with a corporate office located in Seattle, Washington.
L&L’s team consists of experienced professionals who utilize their extensive knowledge in U.S. accounting practices, M&A techniques, and bilingual skills to focus on high margin coal operations in the People’s Republic of China. The company leverages on the strong demand for coal in China, as well as rising coal prices of the growing Chinese economy. To keep its financial transparency, the company has been an SEC public reporting company with U.S. audited financial statements over the past eight years, since 2001.
The company is in its 15th year of operation, with over 1,000 employees and marketing offices at Seattle and Shenzhen. The Company has two operating mines, two mines in the development stage, two coal-washing facilities, and a wholesale distribution network in Yunnan Province. See the SEC filing for its latest financial report.
The company’s team, fluent in Mandarin and English, continues to acquire controlling interest in profitable coal-related entities in China, using its U.S. public trading prestige and extensive Chinese local network.
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whitetiger 18-Apr-2011 09:04 AM
Post Type:
Public
Andy.. I am not an auditor. I am aware that many companies purchase fake "audited&quo (#9445)
In Response to original message: #9442 posted by Andycosta on 07-Apr-2011 12:10 PM
Andy.. I am not an auditor. I am aware that many companies purchase fake "audited" financial statements to present to the SAIC. For an FIE, the same info is provided to the SAIC and SAT in an annual joint inspection. That is why SAIC = SAT for the companies where i have both filings. Read Liandi Clean Tech (OTCCB:LNDT) and Gulf Resources (NASDAQ:GFRE) filings and you will see more about the joint inspection process for an FIE. So when an FIE purchases a fake audit, it is defrauding the SAT.
Now,I do believe that, going forward, companies will find ways to have SAIC match SEC, especially the ones that were only committing tax fraud, that are well connected or operate in areas where SAIC agencies struggle with inefficiencies (such as New Energy Systems (AMEX:NEWN)). That is why the most important part of our DD needs to be on the ground and focusing on other items in the SAIC besides the numbers. Notice that our pieces on Lotus Pharmaceuticals (OOTC:LTUS) Subaye (OOTC:SBAY) Puda Coal (OOTC:PUDA) China Redstone Group (OOTC:CGPI) relied on granular details in SAIC filings other than the numbers.
As far as companies providing me with SAT filings? I will not trust anything these companies give me. Now let me know if they allow you to view the SAT docs directly at the SAT agency like Deloitte did, who discovered that docs at the agency differed materially than those provided to them by the company.
Also let me know why, when comparing a company's SAIC docs ( China Kangtai Cactus Bio (OOTC:CKGT)) from year to year, the numbers follow a logical pattern. Also tell me why China Integrated Energy (OOTC:CBEH) revenues on SAIC filngs match, while its net income do not match.
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