re: r.i.p. Yes.. In regards to Mr "Crook" Delpiano - Not only...

re: r.i.p. Yes.. In regards to Mr "Crook" Delpiano - Not only was he arrested and made to served a few years in jail for his rorting in one of the public companies he was the director of (Kal Resources from memory) by accepting secret commissions, fraud,etc. But he generally doesnt have a very good name amongst alot of people due to the nature and the way he conducts his activities.
If you look at LUM's shareholders awhile back a large chunk was held by both Sala & Mr "Crook" Delpiano. Even After the initial float shares held in escrow by parties were held onto. As such the shareprice was alot more stable and there was more control.
Sala continues to hold his stock. So he hasnt really cashed in and deserted the company as such.
Sometime back LUM were trying to promote the stock. They took on a new member to help tie deals for the company and i believe they were working hard to try pull some sort of deal off. There was whispers here and there and that was reflected by the share price movement. LUM was gathering good ground and was looking good. I was still a holder at that time.
When it came to mt attention that Mr "Crook" Delpiano was unloading i thought .. how strange. Obviously he must have known at the time that the deal LUM was trying to promote wasnt gonna happen. Sensing this i think he must of thought.. time to take the money and run suckers.
Looking at the situation now I believe that had Sala known Mr "Crook" Delpiano was gonna unload the way he did - to stop the land slide perhaps Mr "Crook" Delpiano should have been approached and an offer made to buy him out. Thats would have probaly been the most sensible thing to do. Had that of happenned i dont think LUM would of went down hill and suffer as badly they did.
Then again if there were problems between Sala and Mr "Crook" Delpiano perhaps for obvious reasons he could not be approached. So could this mean that if that is the case then maybe the scenario could be Mr "Crook" Delpiano took a cool calculated approach to deliberatley stick to Mr Sala and stuff LUM for him thereby putting him in the position that he is in now.. running for cover or trying to explain why LUM is slumping and causing all sorts of grief. Hmmm Nasty stuff.
I also note how at the time when Mr "Crook" Delpiano was unloading conviently no disclosure was announced for quite some time after he managed to dump a heap of stock... interesting!!
Sala still holds heaps of LUM and i think he genuinely believes in his company. Sure he recieves a good wage.. then again who doesnt as a director of a public company?
Think of it from his point of view.. if you held over 7-8 mil shares at say 80 cents.. thats worth an easy $5 -6 mil. Those same shares today supposing he could unload them in todays market at tops he probaly wouldnt even get $1 mil. If he knew there were no deals happening dont u think he would of considered unloading himself. Then after making a fortune maybe he could think of buying back in today for a song. Hmmm something to think about!
Sala currently would be having a disaster of a time dealing with shareholders. Everybody is ragging the hell out of his company and he's been exposed to a ugly situation ..i'd say times are real tough for him. Judging by the forum contents market sentiment is bad for LUM. Even if they do manage to pull some deals how much credit and confidence will the investors give LUM.
I guess its like any market.. in order to do well there must be belief and support and if that is the case the market will have depth and stability irrespective of what the company is doing. No demand no market.. simple.