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Laidlaw Energy Reports 2010 Earnings of $2.4 Million

Laidlaw Energy Group (USOTC:LLEG)
Intraday Stock Chart
Today : Wednesday 23 February 2011
Laidlaw Energy Group, Inc. (Ticker Symbol “LLEG”), announced today that it had 2010 net income of $2,441,892 on revenues of $4,135,055. LLEG generated revenues from both management fees and partial compensation from the sale of certain project holdings in 2010.

Presently, the Company has no debt and cash and other current assets of $3,551,270 as of 12/31/10. Operating expenses for the year totaled $1,438,915, including compensation for all of the Company's executives totaling $155,715.

Commenting on the Company's 2010 financial results, Laidlaw President & CEO Michael B. Bartoszek stated “We are pleased to report these strong results as we continue our strategy of diversifying our holdings into biomass and other power projects that are either operational or are in later stages of development. We feel very optimistic that 2011 will be even better.”

The Company expects that its audited financial statements will be publicly available in March when the Company makes certain contemplated filings with the U.S. Securities and Exchange Commission. In the interim the Company will shortly make its 2010 internal financial statements available on its website at LaidlawEnergy.com. The Company expects to launch a new version of its web site later this week.

http://ih.advfn.com/p.php?pid=nmona&article=46566272


Quote:
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Folks financial results = revenues, earnings, etc. Our "financial statements" will be contained in our registration statement out in March
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Laidlaw Energy to Become Fully Reporting SEC Registrant

Laidlaw Energy Group (USOTC:LLEG)
Historical Stock Chart
6 Months : August 2010 to February 2011
Laidlaw Energy Group, Inc. (Ticker “LLEG”) (the “Company”) announced today that is has engaged the New York based law firm Herrick Feinstein, LLP (www.Herrick.com) to represent the Company in connection with making the requisite 10K and other such filings with the U.S. Securities and Exchange Commission to become a fully reporting company under the Securities Exchange Act of 1934. The Company believes that the planned filing(s) will allow the Company’s common shares to be quoted via the OTC Bulletin Board shortly after the requisite filings are made.

Commenting on the planned filings, Laidlaw Energy President & CEO Michael B. Bartoszek stated “We feel that this is the logical next step in the growth of the Company. Clearly we have outgrown the Pink Sheets and we believe that the steps we intend to take will allow for a new universe of potential investors, increased liquidity of our shares and greater transparency for our investors.”

In addition to the planned filings, the Company expects to add to its project development team with a goal of accelerating the Company’s growth and also to expand its Board of Directors. Currently former Congressman Charles Bass serves as a senior advisor to the Company’s management and a non-voting member of its Board. Mr. Bass is currently seeking election to the House of Representatives in New Hampshire’s second congressional district and it is expected that he will need to step down from his role with the Company if he is successful. The Company is currently discussing the appointment

http://ih.advfn.com/p.php?pid=nmona&article=44920145