WARRANTS

6 Months Ended

Oct. 31, 2013

NOTE 20. WARRANTS

Warrants Issued for Compensation

During the six months ended of October 31, 2013, the Company had no warrant issued or exercised for compensation.

Following is a summary of the status of warrants outstanding at October 31, 2013:

Type of Warrants		Range of Exercise Prices	Total Warrants Outstanding	Weighted Average Remaining Life (Years)		Weighted Average Exercise Price
Directors - Class E	$	3.00	185,916	1.24	$	3.00
Non-employee	$	2.25-9.51	12,000	0.62	$	3.43
Total			197,916	1.20	$	3.03

Warrants Issued to Investors

On November 12, 2012, the Company issued 683,003 and 64,786 of four years warrants to lenders. The warrants excise prices are $2.10 and $1.92. The warrants are exercisable immediately.

On May 23, 2013, the Company issued warrants to purchase 232,558 shares of common stock to a lender. The warrants' excise price is $4.30 and it is exercisable immediately.

During the six months ended October 31, 2013, the Company has no warrant issued or exercised to investors.

The table below is a summary of all warrants activity as of October 31, 2013:

Warrants Roll-forward Summary

	Units	Weighted Average Exercise Price	Weighted Average Remaining Life (in Years)
Outstanding at April 30, 2013	1,956,075	$3.03	2.61
Issued	232,558	4.30	3.81
Exercised	-	-	-
Expired	-	-	-
Outstanding at July 31, 2013	2,188,633	3.17	2.51
Issued	-	-	-
Exercised	-	-	-
Expired	-	-	-
Outstanding at October 31, 2013	2,188,633	$3.17	2.26
Exercisable at October 31, 2013	2,188,633	$3.17	2.26

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References+ Details

L & L ENERGY, INC. 10-Q/A