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Filing Details

Accession Number:: 0000906344-11-000134
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-06-03 16:24:09
Reporting Period:: 2011-06-01

Filing Date:: 2011-06-03
Accepted Time:: 2011-06-03 16:24:09
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1045390	Colombia Clean Power & Fuels Inc	CCPF.OB	Bituminous Coal & Lignite Surface Mining (1221)	870567033

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1133521	Steelhead Partners Llc	333 108Th Avenue, Suite 2010 Bellevue WA 98004	No	No	No	Yes
1327721	Michael James Johnston	333 108Th Avenue, Suite 2010 Bellevue WA 98004	No	No	No	Yes
1327722	Katz Brian Klein	333 108Th Avenue, Suite 2010 Bellevue WA 98004	No	No	No	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-06-01	1,785,714	$1.00	2,980,133	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Series A Convertible Preferred Stock	10% Secured Convertible Note due June 30, 2012	Disposition	2011-06-01	0	$0.00	300,000	$0.00
Common Stock	Series A Convertible Preferred Stock	Acquisiton	2011-06-01	300,000	$0.00	1,500,000	$0.00
Common Stock	Warrant to Purchase Common Stock	Acquisiton	2011-06-01	105,000	$0.00	105,000	$0.00
Common Stock	Series A Convertible Preferred Stock	Acquisiton	2011-06-01	1,500,000	$0.00	7,500,000	$0.00
Common Stock	Warrant to Purchase Common Stock	Acquisiton	2011-06-01	525,000	$0.00	525,000	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2010-12-10	2012-06-30	No	4	C	Indirect
300,000	2011-06-01		No	4	C	Indirect
105,000	2011-06-01	2016-05-31	No	4	C	Indirect
1,800,000	2011-06-01		No	4	P	Indirect
630,000	2011-06-01	2016-05-31	No	4	P	Indirect

Footnotes

The reporting persons are: (i) Steelhead Partners, LLC ("Steelhead"), a registered investment advisor within the meaning of Rule 16a-1(a)(1)(v) under the Exchange Act; and (ii) each of James Michael Johnston and Brian Katz Klein, Steelhead's member-managers.
The issuer's securities reported on this Form 4 are beneficially held by Steelhead Navigator Master, L.P.("Steelhead Navigator"). Steelhead is the investment manager of Steelhead Navigator. As a greater than 10% beneficial owner, Steelhead Navigator is separately reporting its holdings in the issuer's securities on a Form 4 filed concurrently herewith. Each of Steelhead, Mr. Johnston, Mr. Klein and Steelhead Navigator expressly disclaims beneficial ownership in these securities, except to the extent of their respective pecuniary interests therein.
Steelhead and the other reporting persons may be deemed to beneficially own the securities owned by Steelhead Navigator insofar as they may be deemed to have the power to direct the voting or disposition of such securities. The reporting persons have elected therefore to file this Form 4 voluntarily to report the Funds' holdings on an aggregate basis, notwithstanding the reporting exemption applicable to registered investment advisors under Rule 16a-1(a)(1)(v) and to control persons under Rule 16a-1(a)(1)(vii). The filing of this Form 4 should not, however, be deemed an admission by any of the reporting persons that such person falls outside the scope of the foregoing exemptions, or that the reporting persons and/or Steelhead Navigator form a group within the meaning of Rule 16a-1(a)(1).
The Series A Convertible Preferred Stock (the "Series A Stock") has no expiration date, but is subject to certain common stock automatic conversion features after the initial 18 months from the date of issuance.
The reporting persons converted $3,000,000 in face amount of 10% Secured Convertible Notes due June 30, 2012 (the "Notes") into units consisting of 300,000 shares of Series A Stock and warrants to purchase up to 105,000 shares of common stock. Each share of Series A Stock is initially convertible into five shares of common stock. Each warrant has a $0.01 exercise price per share. The Notes also previously contained an alternative option to convert into common stock at $2.50 per share.
The reporting persons acquired units consisting of 1,500,000 shares of Series A Stock and warrants to purchase up to 525,000 shares of common stock for an aggregate purchase price of $15,000,000. Each share of Series A Stock is initially convertible into five shares of common stock. Each warrant has a $0.01 exercise price per share.