re: lum shareholders down the plug hole
Actually some good news, the $220k per month running cost figure was for the previous financial year. Apparently they implemented a major cost cutting strategy and judging by the companies last quarterly report they have trimmed their cash burn to around $100k per month. Cash balance was $1.668 mill.
At this rate they have around a years cash up their sleeve even including rent for 4TS - if they are paying rent, I need to confirm this with the company (some people are claiming they are trading free advertising to Durst and Bank of America for rent).
This makes me feel a lot better, they have more reserves than i thought.
LUM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held