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Filing Details

Accession Number:: 0000906344-10-000242
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-07-27 13:00:00
Reporting Period:: 2010-07-23

Filing Date:: 2010-07-27
Accepted Time:: 2010-07-27 17:09:40
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1089575	National Coal Corp	NCOC	Bituminous Coal & Lignite Surface Mining (1221)	650601272

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1133521	Steelhead Partners Llc	333 108Th Ave. Ne Suite 2010 Bellevue WA 98004	No	No	No	Yes
1327721	Michael James Johnston	333 108Th Ave. Ne Suite 2010 Bellevue WA 98004	No	No	No	Yes
1327722	Katz Brian Klein	333 108Th Ave. Ne 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 Par Value $.0001 Per Share	Disposition	2010-07-23	68,391	$1.12	1,239,112	No	4	S	Indirect	See footnotes
Common Stock Par Value $.0001 Per Share	Disposition	2010-07-23	4,400	$1.12	1,234,712	No	4	S	Indirect	See footnotes

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

Footnotes

On June 22, 2010, the issuer effected a 4-for-1 reverse stock split, reducing the reporting person's reported beneficial ownership by 3,922,509 shares.
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 shares of common stock reported on this Form 4 are directly held by Steelhead Navigator Master, L.P. ("Navigator"). Steelhead is the investment manager of Navigator. As a greater than 10% beneficial owner, Navigator is separately reporting this transaction in the issuer's securities on a Form 4 filed concurrently herewith.
Steelhead and the other reporting persons may be deemed to beneficially own the securities owned by 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, 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 Navigator form a group within the meaning of Rule 16a-1(a)(1). Each of Steelhead, Mr. Johnston, Mr. Klein and Navigator expressly disclaims beneficial ownership in these securities, except to the extent of their respective pecuniary interests therein.