L & L Energy, Inc. (LLEN) F4Q 2012 Earnings Conference Call August 1, 2012 12:00 ET Executives Dickson Lee – Chairman and Chief Executive Officer Ian Robinson – Chief Financial Officer Ed Moy – Vice President Analysts David Sheridan – Boenning and Scattergood Don Sinsabaugh – Fulcrum Securities Stanley Ng – RedChip Companies Joanne Gannon – Private Investor Ronald Hudson– Private Investor Gary Scott – Private Investor Steve Sullivan – Horizon Financial Group PresentationOperator
Ladies and gentlemen, welcome to the L&L Energy, Incorporated Fiscal Year 2012 Earnings Conference Call. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of this conference. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes. With me today is L&L’s Chairman and Chief Executive Officer, Dickson Lee; Chief Financial Officer, Ian Robinson; Vice Presidents Ed Moy and Clayton Fong. Before I turn over the call to Mr. Lee, may I remind our listeners that in this call management’s prepared remarks contain forward-looking statements, which are subject to risks and uncertainties, and management may make additional forward-looking statements in response to your questions. Information regarding forward-looking statements, except for historical information contained herein are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks as well as uncertainties, which may cause actual results in future periods to differ materially from forecasted results. Actual results may differ from those discussed today, and therefore we refer you to a more detailed discussion of the risks and uncertainties in the company’s filings with the Securities and Exchange Commission.
What you may have missed, including takes on Micron, SolarCity, Zagg, Fastenal, Family Dollar, Sysco and Nu Skin from the past week or so. When Micron reports earnings Thursday, expect a lot of focus on pricing in dynamic random-access memory (DRAM). In a piece on Reality Check headlined, Is Micron headed for a Tumble?, the issue in focus was whether DRAM capacity is quietly increasing -- and, if so, whether prices could start to slide. The battle lines, involving some very smart people, have been drawn: Bulls think prices could show surprising resilience, and bears don't. But, as I wrote, the answer isn't likely to come with this quarter's earnings. This is something that, if you believe the bears, is currently evolving. The bigger question is whether there is a new world order in memory.....
Before your eyes roll -- if you do nothing else, scan down to the bold-faced part of this story, and start reading from that point on. If you have a few minutes more: Last week's SEC suit against L&L Energy CEO Dickson Lee on fraud charges didn't make the headlines. Nor did the news that he landed in a Federal prison in Seattle, waiting for an arraignment Tuesday, as the Feds seek criminal charges against him on the same securities charges. My only question, even though these are just charges: What took 'em so long?