L&L Updates Investors on TDR, Satisfies KPMG's Financial Review of Past Two Years

Jun 24, 2013, 06:00 ET from L & L Energy, Inc.

SEATTLE, June 24, 2013 /PRNewswire/ -- L & L Energy, Inc. (NASDAQ: "LLEN") ("L&L" or the "Company"), a U.S.-based company with profitable coal operations in China announces KPMG Taiwan ("KPMG") has completed its review of the Company's FY2011 and FY2012 audits in pursuance of L&L's Taiwan Depositary Receipt ("TDR") project.

Following April's engagement of KPMG, KPMG proceeded with its independent financial review of L&L's financial statements to comply with Taiwan Stock Exchange listing regulations. In the process, KPMG has conducted its necessary procedures including examining documents, interviewing managers, and reconciling balance sheets and income statements into the Taiwan GAAP standards. As of today, KPMG has issued draft review opinions on the previous two fiscal years. KPMG will release its final work after their review of L&L's current (FY2013) financial statements, which is scheduled to be completed at the end of July 2013.

L&L Chairman and CEO, Dickson Lee commented, "I am pleased that our TDR project is moving forward smoothly and on schedule. Working with KPMG and Taishin Securities has been a positive experience and I am looking forward to expanding upon the TDR project, when fully executed, to bring further accretive value to our shareholders."

Forward Looking Statements

The statements containing words that are not historical fact, including statements related to the Company's future performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and that involve a number of uncertainties. Actual results of the future events described in this document could differ materially. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

L&L Energy Inc.

SOURCE L & L Energy, Inc.