C'mon George, long bow to draw indicating to the readers of this thread that Lumacom have installed another panel on a neighbouring building without actually checking the facts first, and also not responding/replying when questions were asked. All it took was a 1min telephone call to the company to put things correct - did you think about doing this first before posting what you did in this forum?
It will be a long time before LUM put up any more Lumapanels as they have no staff capable of doing the engineering or electronics work for them. They also do not have enough money to be able to afford to purchase more than $1mill worth of steel and get LUMapanels produced.
What I am more interested in knowing is what did Lumacom get for their $500k investment with the purchase of Vertigo last year - to me it appears to be more money lost. Also, I wonder what happened to the street furniture contracts - based on their need for more funds at 1.1c it looks like they are not very confident getting the contracts either. Now they are indicating they need the money to purchase more companies. Can't buy anything worthwhile for $500k, not even a house in Perth nowadays. Not sure how they believe they can buy a profitable business with potential for this sum.
I'm still wondering whether Dollisson encouraged LUM to buy Vertigo to help his mates get out of financial trouble. Can't see what LUM management saw in Vertigo - it has been losing money for years, had debts and didn't have much work on the drawing board. I thought Dollisson was the answer to LUM's woes but not much has changed since he's been onboard. Lumacom continues to lose money and the guys with fat pockets continue to fill them with more of Georgesg, Volga's and my money.
Rights issue at 1.1c - makes me want to vomit.
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