LLEG - Laidlaw Energy Group, Inc. Message Board

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Gold/Mining/Energy : LLEG - Laidlaw Energy Group, Inc.

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From: UnderCover	1/28/2010 12:46:48 PM
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Here's an update from the CEO of LLEG. laidlawenergy.blogspot.com I like this guy. I believe he is honest and conscientious which is very refreshing for a market CEO let alone one listed on pinks. Progress Update Thursday, January 28, 2010 In the interest of keeping our stakeholders informed, I am providing an update on Laidlaw Energy's current projects and other business. Massachusetts Projects Both of the projects we are currently pursuing in Mass are progressing well. We have been negotiating the asset purchase agreement for one of the projects for quite some time and we just provided the seller what we hope will be close to the final draft. So, while timing is always a bit challenging to estimate, we hope to execute this agreement in the near future. We are very excited about this project, because it is already qualified as a renewable generator and possesses permits to operate (subject to confirmation), so it is potentially a very fast-track project for us. The other project in Massachusetts that we have been pursuing is also moving along well. For this project, the plan is to lease the existing power house while we further develop the project and then the lease would convert to a purchase once we have secured all approvals to operate as a biomass plant. This is an operating power house that current serves the thermal energy needs of a significant manufacturer. We are currently negotiating a 20 year energy services agreement with this company to serve its thermal energy needs from the proposed biomass plant. This project seems to be gathering a lot of support from local and state political sources and could really be a template for future projects. Indeed, the current owner of the power house has proposed a similar arrangement at another location that we are currently exploring. Berlin Project The New Hampshire Site Evaluation Committee has accepted our permit application as complete. See nhsec.nh.gov The 8 month clock to a decision commence as of the date of the acceptance. We expect to have a public meeting on the application in approximately 30 days. Joint Venture We have started to receive funds from the HLE joint venture to cover overhead and development costs, so we expect this will be a significant positive factor going forward in terms of reducing LLEG's capital needs. There is a note due to us at the end of February in connection with the JV that is expected to yield significant additional working capital and is anticipated to allow us to be profitable for fiscal 2010. Corporate Governance We are exploring numerous additional options to increase the transparency of the Company to stakeholders. While we continue to explore the possibility of listing our securities to trade on the OTCBB or another venue, it is my hope that we will voluntarily commence disclosure of financials this fiscal year so stakeholders will have much the same information irrespective of whether we choose to go forward with a new listing or not. I hope this information proves helpful to our stakeholders in terms of fostering an increased understanding of our business and current activities. Mike POSTED BY MICHAEL BARTOSZEK AT 10:27 AM 0 COMMENTS

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