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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shuffman 19-Apr-2011 12:08 PM
Post Type:
Public
You say:
"What I find mindless and egregious is that a company of L & L Energy (NASDAQ:LLEN) siz (#9496)
In Response to original message: #9487 posted by whitetiger on 07-Apr-2011 12:10 PM
You say:
"What I find mindless and egregious is that a company of L & L Energy (NASDAQ:LLEN) size goes so long without upgrading from Kabani. Just plain ignorant."
That is a pretty ignorant comment in of itself. It's like saying Google is a potential scam only because they still use E&Y, while E&Y was part of the LEH scam. There have been *no* problems with LLEN's numbers. Furthermore, they have publicly stated that they are looking to upgrade auditors. I can imagine that getting a Big-6 auditor hired has got to be a monumental effort in this day and age - the due diligence is probably 10x more than in the past. So.....it takes time.
Using that argument is pretty weak on your part and goes squarely against (contradicts) your argument in your paragraph directly above that ("Correct me if I am wrong, but being a U.S, citizen has not prevented individuals from defrauding investors in the past.").
Finally, I think the point Andy made about management being US citizens is the point out the fact that they are subject to US laws, hence their incentive to committ fraud is less than if they were soley in China.
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