take a closer look, page-3

To my knowledge, the only thing which wasn't confirmed with the Vertigo takeover was the $500k to paid to the seed investor who was funding the listing of Vertigo, which didn't go ahead. Everything else is finalised and some of the funds from the most recent placement are to pay that $500k.
As for recent selling, there may be a few nervous nellies who just bought some shares in the placement that may be fairly keen on selling at 2c or just above, by the looks of the market depth.
As for a turnaround, LUM was pretty close to bankrupt in June now they are getting significant revenue through the books. Next they need to make a profit, which could still be a few months away. These 2c placements are really hurting them and the shareholders, however, not sure how else they can raise the money, other than with convertible notes.
They have a future, but jeepers, they still are teetering on the edge. Any good news is going to be met with huge waves of selling I would think.