this is a responce i got from LUM when i asked them about a major share holder selling out.........
Dear Shareholder,
We thank you for your email. We are not aware of any director and shareholder selling shares.
We take this opportunity to update you on activities.
Lumacom is focused on the development of strategic LumaSign sites across Europe and USA as part of developing networks of screens covering the respective regions.
Recently it was announced that the Company had identified a number of sites across the regions and was systematically negotiating revenue sharing installations and in some cases, direct sales.
Specific sites were announced in Scandinavia and a strategically important sale in the burgeoning Russian market; a LumaSign for use by the icon brand, Pepsi. others will be announced as they come to fruition.
The Company is comfortable that its technology and product is being accepted in the regions following the official launch of its Barcelona screen in July, 2003.
The United States market is also developing positively thru its JV partner Totius Media and cooperation arrangements with major property developers and sites extending beyond the region. With respect to the Times Square project, I advise that it is progressing well, but for commercial reasons, no details can be released at this stage. We ask that you remain comfortable with the advice we are progressing with great confidence.
Lumacom is committed to the long term commercialisation of its business and has always maintained that it will announce agreements and deals as and when they occur.
As Managing Director I am currently overseas in these regions actively progressing these opportunities and have great confidence in bringing successful results. Further announcements will be made as and when deals are finalised. The announcements referred to above are an indication of the progress the Company is making and considers them an active and positive advancement in its commercialisation strategy.
It is not appropriate for the Company to make comment in relation to share price, other than to observe that the positive movement in share price since January 2003 has been in response to these activities. The Company does not have any reason to believe that its progress has changed in any manner in the recent few weeks.
In this regard, we continue to maintain our focus on our stategy with confidence and excitement for a bright future.
Rodd Sala Managing Director
I think its time to buy more:):):)cheers
LUM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held