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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Washington,
      DC 20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman">FORM
      8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
      REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">September
      13, 2006</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
      of
      Report (Date of earliest event reported)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman"><strong>PUDA
      COAL, INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
      name of registrant as specified in its charter)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Florida</font>&#160;</div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">333-85306</font>&#160;</div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">65-1129912</font>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or Other Jurisdiction</font>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission</font>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(I.R.S.
                Employer</font>&#160;</div>
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            <td width="25%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font size="2">of
                Incorporation)</font>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
                Number)</font>&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Identification
                No.)</font>&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">426
      Xuefu
      Street, Taiyuan, Shanxi Province</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      People&#8217;s Republic of China, </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
      of principal executive offices)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">011-86-351-2281300</font></div>
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      Telephone Number, Including Area Code</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
      name or former address, if changed since last report)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):</font></div>
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        <div>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
                  ]</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                    communications pursuant to Rule 425 under the Securities Act
                    (17 CFR
                    230.425)</font></div>
                </td>
              </tr>

          </table>
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      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
                  ]</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Soliciting
                    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                    240.14a-12)</font></div>
                </td>
              </tr>

          </table>
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              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
                  ]</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                    communications pursuant to Rule 14d-2(b) under the Exchange Act
                    (17 CFR
                    240.14d-2(b))</font></div>
                </td>
              </tr>

          </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: -18pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.3; MARGIN-RIGHT: 0pt" align="left">
        <div>
          <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">

              <tr valign="top" style="line-height: 1.25;">
                <td align="left" style="width: 27pt;"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[
                  ]</font></td>
                <td align="left">
                  <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
                    communications pursuant to Rule 13e-4(c) under the Exchange Act
                    (17 CFR
                    240.13e-4(c))</font></div>
                </td>
              </tr>

          </table>
        </div>
      </div>
    </div>
    <div><br>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit
      Report or Completed Interim Review.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(a)<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      previously announced in the Form 8-K that Puda Coal, Inc. (&#8220;we&#8221; or &#8220;the
      Company&#8221;) filed on August 14, 2006 (the &#8220;Original Filing&#8221;), we filed the Form
      10-QSB for the quarter ended June 30, 2006 without the completion of its review
      of the report pursuant to SAS 100 by our independent public accountants as
      required by Item 310 of Regulation S-B. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
        the review process by our independent public accountants, discussions were
        made
        between management and our independent public accountants and management
        determined that it misapplied accounting principles generally accepted in
        the
        United States of America in relation to convertible notes and warrants issued
        by
        the Company pursuant to a private placement on November 18, 2005. This
        determination was made as the Company considered its responses to comments
        from
        the Securities and Exchange Commission (the &#8220;SEC&#8221;) Staff with respect to the
        Company&#8217;s registration statement on Form SB-2. During discussions with our
        independent public accountants, management and the Board of Directors of
        the
        Company were alerted to the facts and circumstances regarding the errors
        in
        accounting as follows:</font></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                Company had originally used the expected term of one year under the
                Black-Scholes Model in calculating the fair values of conversion
                feature
                and warrants. The use of one year as the expected term despite the
                contractual terms of 3 years for conversion feature and 5 years for
                warrants was because</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
                it
                was expected that note holders would convert their debt and exercise
                the
                warrants within one year because of the attractive terms. However,
                after
                consideration of the provisions of Staff Accounting Bulletin 107,
                management concluded the contractual terms of 3 and 5 years should
                be used
                in estimating the fair values of the conversion feature and
                warrants.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                Company had originally used the straight line method to amortize
                the debt
                issuance costs and discount on the conversion feature and warrants.
                However, the company concluded that the effective interest method
                is more
                appropriate to amortize the debt issuance costs and the discounts
                given
                the circumstances that the convertible notes is interest bearing
                with
                monthly interest payments in cash.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      respect of the above, on August 21, 2006, the Company filed Amendment No. 1
      to
      Form 10-QSB/A for the Company&#8217;s second fiscal quarter ended June 30, 2006,
      amending and restating certain items identified therein with respect to the
      Original Filing. Amendment No. 1 to the Original Filing was filed to restate
      the
      Company&#8217;s financial statements for such fiscal quarter after a completed review
      by our independent public accountants pursuant to the requirement under Item
      310
      of Regulation S-B. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(b)<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      September 13, 2006, Mr. Zhao Ming, Chief Executive Officer and President, Ms.
      Jin Xia, Chief Financial Officer and Mr. Tian Wenwei, Vice President of the
      Company concluded that the Company&#8217;s annual report on Amendment No. 1 to From
      10-KSB/A which included the financial statements for the fiscal year ended
      December 31, 2005 that was filed on May 17, 2006, and the Company&#8217;s quarterly
      report on Form 10-QSB for the first fiscal quarter ended March 31, 2006 that
      was
      filed on May 15, 2006 should not be relied upon due to the misapplication of
      accounting principles described in (a) above. The Company will amend the reports
      for these periods and file them with the SEC. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      amended reports will be amended to reflect: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(i)</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
                usage of the contractual terms of the conversion feature and warrants
                to 3
                years, and 5 years, respectively, instead of an expected term of
                one year
                as originally used under the Black-Scholes Model in calculating the
                fair
                values of the conversion feature and warrants; and
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top" style="line-height: 1.25;">
            <td style="width: 36pt;">&#160;</td>
            <td style="width: 36pt;">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(ii)</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Amortization
                of the debt issuance costs and discount on convertible notes and
                warrants
                using the effective interest method instead of straight line method.
                </font></div>
            </td>
          </tr>

      </table>
    </div>
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      the matters disclosed in this current report on Form 8-K pursuant to Item
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            <td align="left" valign="middle" width="12%">&#160;</td>
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                COAL, INC.</font></div>
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                September 18, 2006</font></div>
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                Jin Xia</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Name:
                Jin Xia</font></div>
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{"company-data": {"conformed-name": "Puda Coal, Inc.", "cik": "0001162747", "assigned-sic": "5050", "irs-number": "651129912", "fiscal-year-end": "1205"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-85306", "film-number": "061095720"}, "business-address": {"street1": "5100 N FEDERAL HWY # 409", "city": "FT LAUDERDALE", "state": "FL", "zip": "33308", "phone": "9544938900"}, "mail-address": {"street1": "5100 N FEDERAL HWY # 409", "city": "FT LAUDERDALE", "state": "FL", "zip": "33308"}, "former-company": {"former-conformed-name": "PUREZZA GROUP INC", "date-changed": "20011127"}}
Unassociated Document
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      DC 20549
FORM
      8-K
CURRENT
      REPORT
Pursuant
      to Section 13 or 15(d) of the Securities Exchange Act of 1934
September
      13, 2006
Date
      of
      Report (Date of earliest event reported)
PUDA
      COAL, INC.
(Exact
      name of registrant as specified in its charter)
Florida
333-85306
65-1129912
(State
                or Other Jurisdiction
(Commission
(I.R.S.
                Employer
of
                Incorporation)
File
                Number)
Identification
                No.)
426
      Xuefu
      Street, Taiyuan, Shanxi Province
The
      People's Republic of China,
(Address
      of principal executive offices)
011-86-351-2281300
Registrant's
      Telephone Number, Including Area Code
(Former
      name or former address, if changed since last report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions (see General Instruction A.2. below):
[
                  ]
Written
                    communications pursuant to Rule 425 under the Securities Act
                    (17 CFR
                    230.425)
[
                  ]
Soliciting
                    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                    240.14a-12)
[
                  ]
Pre-commencement
                    communications pursuant to Rule 14d-2(b) under the Exchange Act
                    (17 CFR
                    240.14d-2(b))
[
                  ]
Pre-commencement
                    communications pursuant to Rule 13e-4(c) under the Exchange Act
                    (17 CFR
                    240.13e-4(c))
Item
      4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit
      Report or Completed Interim Review.
(a)
As
      previously announced in the Form 8-K that Puda Coal, Inc. ("we" or "the
      Company") filed on August 14, 2006 (the "Original Filing"), we filed the Form
      10-QSB for the quarter ended June 30, 2006 without the completion of its review
      of the report pursuant to SAS 100 by our independent public accountants as
      required by Item 310 of Regulation S-B.
During
        the review process by our independent public accountants, discussions were
        made
        between management and our independent public accountants and management
        determined that it misapplied accounting principles generally accepted in
        the
        United States of America in relation to convertible notes and warrants issued
        by
        the Company pursuant to a private placement on November 18, 2005. This
        determination was made as the Company considered its responses to comments
        from
        the Securities and Exchange Commission (the "SEC") Staff with respect to the
        Company's registration statement on Form SB-2. During discussions with our
        independent public accountants, management and the Board of Directors of
        the
        Company were alerted to the facts and circumstances regarding the errors
        in
        accounting as follows:
(i)
The
                Company had originally used the expected term of one year under the
                Black-Scholes Model in calculating the fair values of conversion
                feature
                and warrants. The use of one year as the expected term despite the
                contractual terms of 3 years for conversion feature and 5 years for
                warrants was because
it
                was expected that note holders would convert their debt and exercise
                the
                warrants within one year because of the attractive terms. However,
                after
                consideration of the provisions of Staff Accounting Bulletin 107,
                management concluded the contractual terms of 3 and 5 years should
                be used
                in estimating the fair values of the conversion feature and
                warrants.
(ii)
The
                Company had originally used the straight line method to amortize
                the debt
                issuance costs and discount on the conversion feature and warrants.
                However, the company concluded that the effective interest method
                is more
                appropriate to amortize the debt issuance costs and the discounts
                given
                the circumstances that the convertible notes is interest bearing
                with
                monthly interest payments in cash.
In
      respect of the above, on August 21, 2006, the Company filed Amendment No. 1
      to
      Form 10-QSB/A for the Company's second fiscal quarter ended June 30, 2006,
      amending and restating certain items identified therein with respect to the
      Original Filing. Amendment No. 1 to the Original Filing was filed to restate
      the
      Company's financial statements for such fiscal quarter after a completed review
      by our independent public accountants pursuant to the requirement under Item
      310
      of Regulation S-B.
(b)
On
      September 13, 2006, Mr. Zhao Ming, Chief Executive Officer and President, Ms.
      Jin Xia, Chief Financial Officer and Mr. Tian Wenwei, Vice President of the
      Company concluded that the Company's annual report on Amendment No. 1 to From
      10-KSB/A which included the financial statements for the fiscal year ended
      December 31, 2005 that was filed on May 17, 2006, and the Company's quarterly
      report on Form 10-QSB for the first fiscal quarter ended March 31, 2006 that
      was
      filed on May 15, 2006 should not be relied upon due to the misapplication of
      accounting principles described in (a) above. The Company will amend the reports
      for these periods and file them with the SEC.
The
      amended reports will be amended to reflect:
(i)
The
                usage of the contractual terms of the conversion feature and warrants
                to 3
                years, and 5 years, respectively, instead of an expected term of
                one year
                as originally used under the Black-Scholes Model in calculating the
                fair
                values of the conversion feature and warrants; and
(ii)
Amortization
                of the debt issuance costs and discount on convertible notes and
                warrants
                using the effective interest method instead of straight line method.
(c)
The
      authorized officers of the Company, Ms. Jin Xia and Mr. Tian Wenwei discussed
      the matters disclosed in this current report on Form 8-K pursuant to Item
      4.02(a) with the Company's independent public accountants.
Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant
      has
      duly caused this report to be signed o its behalf by the undersigned thereunto
      duly authorized.
PUDA
                COAL, INC.
Date:
                September 18, 2006
/s/
                Jin Xia
Name:
                Jin Xia
Title:
                Chief Financial Officer