Text -> HTML unordered list converter

Converting text list into nested unordered HTML list. Items in source text should be separated with new lines, number of leading tabs defines nesting level. Characters ", &, < i > are replaced with corresponding HTML entities.

I'm using this for converting tab-formatted application changelogs into nested html lists.

Source text:

remove prefix from each line if present and left-trim

HTML output

 "Cookie monsters": 8151037    Parse time: 0.001 s