re: thc
Lumacom is in this hole because of the following: 1) A ridiculous business plan which they were told would fail 2) Lack of due diligence on JV partners 3) Refusing to put the signs up 2 years ago - who in their right mind would pay $2mill plus for a sign where the only one that exists is in Perth? 4) Refusing to accept advertisers because they weren't high profile enough. Imagine if Rodd wanted to advertise "his" company, had US$1.25mill and the owner of the sign said, nup, you not good enough for us. We'll wait 2 years until we get a Disney or McDonalds we don't want your money. Not the way for a little company in Perth, with no income and no cash reserves to start a business. The shareholders should be mighty peeved off with this attitude. Rodd should not be the MD any more. I love his resignation in the AGM - to appease the shareholders only. He has no intention of letting go of the reigns.
LUM Price at posting:
0.0¢ Sentiment: ST Sell Disclosure: Held
