18 Apr 2014listing compliance notice▼ BadMajor
L & L ENERGY, INC.'s securities were notified for removal from listing and registration on its exchange.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 Apr 2014listing compliance notice▼ BadMajor
On April 8, 2014 L & L told NASDAQ it intends to voluntarily delist its common stock, planning to file Form 25 on or about April 18, 2014, with delisting effective about ten days later. The company expects the stock to trade on the OTC Markets but says no trading market is assured and liquidity may be limited. This ends the NASDAQ listing noted in the 2011 filings; the shares stay outstanding.
27 Mar 2014quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $32.1 million and net income of $4.2 million for the period ended 2014-01-31.
17 Mar 2014quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $32.1 million and net income of $4.2 million for the period ended 2014-01-31.
13 Mar 2014late filing notice▼ Bad
L & L ENERGY, INC. notified the SEC that its quarterly report would be filed late.
16 Dec 2013quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $44.2 million and net income of $1.4 million for the period ended 2013-10-31.
13 Dec 2013quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $44.2 million and net income of $1.4 million for the period ended 2013-10-31.
10 Dec 2013late filing notice▼ Bad
L & L ENERGY, INC. notified the SEC that its quarterly report would be filed late.
13 Sept 2013quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $51.2 million and net income of $10.7 million for the period ended 2013-07-31.
9 Sept 2013quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $51.2 million and net income of $10.7 million for the period ended 2013-07-31.
3 Sept 2013capital raising announcement▼ Bad
This amended filing repeats the August 2013 Ironridge settlement terms (2,588,888 initial shares, possible additional issuances, ownership caps) and adds the stipulation and court order as Exhibit 10.1. It carries no new terms.
16 Aug 2013capital raising announcement▼ BadMajor
On August 14, 2013 a California court approved a settlement of a lawsuit filed July 2, 2013 by Ironridge Global IV, which had bought $4,983,075 of L & L's past-due debts from creditors. L & L must issue Ironridge 2,588,888 shares initially, with possible additional shares if the stock price falls below the pre-order closing price during a period tied to $80 million of trading volume, and a final true-up. L & L can end the extra issuances by paying the claim in cash. The filing caps Ironridge at 9.99% ownership (and 19.99% of pre-issuance shares unless approved). This dilutes existing holders and shows the company was behind on debts to creditors.
16 July 2013late filing notice▼ Bad
L & L ENERGY, INC. notified the SEC that its annual report would be filed late.
21 May 2013material agreement▲ Good
On May 15, 2013 subsidiaries of L & L signed an agreement to supply up to 1 million tons of coal to a Datang International Power power plant in Guangxi Province. The filing gives no price, timeframe or revenue figures, so the financial value to shareholders cannot be judged from it.
15 Mar 2013quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $61.5 million and net income of $15.6 million for the period ended 2013-01-31.
11 Mar 2013quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $61.5 million and net income of $15.6 million for the period ended 2013-01-31.
15 Jan 2013capital raising announcement● Neutral
In January 2013 L & L agreed to sell 505,780 restricted shares plus warrants to one private accredited investor for $875,000 cash. The warrants cover 111,271 shares at $2.10 for three years. The investor also gets piggyback registration rights and an option to join up to 10% of certain future private placements for three years. This dilutes existing holders.
What it means for a shareholder
111,271 new shares at $2.10 to raise about $233,669. That's 0.296% dilution: every existing holder's slice gets 0.296% smaller. If you held $1,000 of shares (476 at the issue price), your slice goes from 0.00127% to 0.00127% of the company. To keep it you'd need 1 more shares - about $2 at the issue price.
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17 Dec 2012quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $54.9 million and net income of $7.7 million for the period ended 2012-10-31.
10 Dec 2012quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $54.9 million and net income of $7.7 million for the period ended 2012-10-31.
7 Dec 2012listing compliance notice▼ Bad
L & L ENERGY, INC. withdrew a registration statement, abandoning the offering it covered.
23 Nov 2012material agreement● NeutralMajor
On November 18, 2012 L & L agreed to buy 95% of the Luozhou and Lashu anthracite mines in Guizhou from Union Energy for $37.1 million, near the Weishe mine it agreed to buy in January 2012. Payment is about $1.7 million in cash plus handing over its 98% interest in the Zonelin Coking Plant and its 60% interest in the DaPing Mine. The filing cites about 34.2 million tons of combined reserves; so shareholders swap two existing assets and some cash for these mines.
10 Sept 2012quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $47.5 million and net income of $6.2 million for the period ended 2012-07-31.
16 July 2012late filing notice▼ Bad
L & L ENERGY, INC. notified the SEC that its annual report would be filed late.
4 May 2012asset acquisition disposition● NeutralMajor
Effective the end of April 30, 2012, L & L agreed to sell the Ping Yi mine back to its original owners for US$31 million, which the filing says is treated partly as a prepayment on future coal L & L will buy and partly as a prepayment for future use of the mine's coal washing facility. L & L also secures an off-take agreement at a discounted price. The filing calls Ping Yi underperforming and says L & L bought it in 2009 for about US$4 million; it does not say how much of the $31M is cash received versus prepayment. This replaces the earlier Ping Yi subcontract arrangement in the company's history.
12 Mar 2012quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $32.8 million and net income of $3.9 million for the period ended 2012-01-31.
3 Feb 2012material agreement● NeutralMajor
On January 28, 2012 L & L agreed to buy 51% of the Weishe Coal Mine in Guizhou (anthracite, about 19,000,000 tons of reserve, newly built) from Guizhou Union Energy for about US$16.2M, paid entirely in 3,000,000 L & L shares valued at about $5.39 each. The shares are paid in installments as conditions in the agreement are met. Issuing these shares will dilute existing holders.
13 Dec 2011quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $43.5 million and net income of $3.8 million for the period ended 2011-10-31.
12 Dec 2011quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $43.5 million and net income of $3.8 million for the period ended 2011-10-31.
8 Dec 2011securities registration● Neutral
L & L ENERGY, INC. amended a filing by which it registered a securities offering with the SEC.
9 Sept 2011quarterly activities report● Neutral
L & L ENERGY, INC. reported quarterly revenue of $37.7 million and net income of $2.4 million for the period ended 2011-07-31.