China Trading Stocks

[kindama]

LLEN: More smoke and mirrors

The company's intraday press releases seem intended to briefly spike the stock before people have time to grasp the details. In this case the "Increase in ownership" was accomplished without any new cash commitment.
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L&L Energy Announces Increase in Ownership by Management and Board of Directors
PR NewswirePress Release: L & L Energy, Inc. – 31 minutes ago

SEATTLE, Sept. 27, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with a track record of profitable energy (coal) operations in China, today announced that several members of its management and Board of Directors are increasing their ownership of L&L shares. The Company believes that the increase in share ownership demonstrates the collective commitment by management and the board to the success of L&L. The increase also demonstrates their belief that the Company's shares are significantly undervalued.
Mr. Dickson Lee, the Company's Chairman and Chief Executive Officer, recently took possession of 750,447 shares of company stock previously pledged as collateral for a personal loan, a transaction by Mr. Lee that required a cash outlay of over $1 million. This transaction was disclosed in a Form 4 filing with the SEC yesterday. Mr. Clayton Fong, Vice President of US Operations, has agreed to take company shares in lieu of cash salary. Finally, several board members have agreed to take a substantial portion of their director fees in the form of equity rather than cash. L&L directors' cash fees include $80,000 annually per director, where directors may substitute equity for any percentage of their cash fee. Two directors have elected to receive their entire board fee in equity.