I saw this film at the Idaho International Film Festival (it was actually the only feature I was able to attend), and it intrigued me.
There are a few flaws, mainly a few actors who didn't give it their all, I felt, but the lead actor helps the film by taking it seriously and overshadowing the others. I'm definitely looking forward to seeing him in future films.
My biggest qualm with "ll:59" was the over-use of choppy editing. I understand the need to show disorientation, but the scenes in the news room would often cut - not to another angle - but to what appeared to be another take from the same angle. Just very unnatural.
However, the film got all of these kinks out of its system by the end of the first act, and I felt the rest of the film carried itself along quite nicely.
I would be extremely happy if my first film (which I am currently producing) turns out as well as this film has. Great job, guys, and good luck and God bless on your future endeavors!