Lotta Coal Inc.(fka LCOL)

[soupoftheday]

Lotta Coal Inc. has, in the process, sold its oil and gas interest to a privately held company in British Columbia for consideration of approximately $3,000,000 , which represents the accumulated debt owed to suppliers for the drilling and maintenance of its oil and gas wells in Northern Alberta . The sale of the oil and gas division leaves the company in a good financial position and the company can now concentrate its efforts on marketing the new technology.