who is to blame?, page-12

re: made it worse I did ask Kahuna to answer the question about P/E

When you read his other posts he obviously has had a background in banks or finance or both,

I have a fair idea that the market has twigged on to this and selling because


"and all he got for posting this was abuse "
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LUM
Posted 12/02/04 8:57:53 PM - 15 reads
Posted by kahuna1
Post #234925 - in reply to msg. #234879

Hmm ... good question

I cant possibly answer that question and remain out of jail.

LUM has never made a profit

LUM had a record loss last year

Lum revenue from one operating sign 2001/2002 appears to be roughly AUD$130,000

LUM revenue from one operating sign 2002/2003 appears to be roughly AUD 78,000 -- down 45% on the year

look under sector income generation in the annual report ... since the sign is in AUstalia I have presumed all income generated in AUstralia was by the single operating bill board.

Talk of multi- million per year income generation from single deals has been made by directors of the company. Remember LUM only gets a half share with its overseas partner ... so a single billboard generating 5 or 6 million dollars before costs .... . To date accounts accounts do not reflect announcements made. In fact they show nothing of numerous deals that have been announced.This contradiction of the accounts to announcements is perplexing and given past instances I have seen this happen to companies ... well what can be said. The LUM crowd will say it is all time lags ... 6 months ect ect ...

I shall leave it at that ... just remember your worst trade ... maybe I am wrong but when 2+2 doesn't equal 4 .... I have been very wrong before it will be nothing new !!!

My current valuation .... sorry cant value a company with negative income .... prospects unknown ...

good luck