nostalgia, page-6

att: disney, rocknocker, et al I think it may be Durst that would love to see LUM go under and get the sign for free. Regardless of the quality of the video, I would have thought the value of the static image would be worth well over $1mill based on the rates at ground level. The static sign is very visible and easy to read so this component has value. As for the video component, there is no doubt that the resolution of the image can't be any where near as good as a full matrix video, regardless of what Lumacom claim and I think this is maybe where the problem is. Which blue chip company wants to be associated with a fuzzy part-time LED sign? LUM, as far as I know, are insisting on an advertiser taking both components and I feel this is where the problem is.
* What happened to Athens?
* Barcelona conveniently forgotten in last updates
* Hong Kong and China conveniently forgotten
* Berlin's 7 signs forgotten
* 6 signs that DEFI were negotiating have been forgotten
* Signs rumoured in Las Vegas and LA forgotten
* No new signs negotiated in 3 years.
Advertising companies dumped so far - Neon, Megagroup, Totius, Global Medya, ClearChannel and Pamela Thompson. Lamar have had no success in 6months, despite having their complete NY team working on and having no other signage space to sell in NY city.
It's obvious the company is going down the toilet and the Bank of America advertising placed on the 4TS sign for 2 months was just the bait to suck sophisticated investors in to get the placement over the line. Wonder what they are going to use as bait in April.
As for reducing cash burn by the company, 2 members of the Sala family continue to generate $200k+ per year for delivering technical support and developing the technology. I can't remember Lumacom announcing any new products and I'm not sure why they need such an expensive R&D team when the signs have such low overheads, have no advertisers on their signs, and no new signs are currently being designed or built. Is this the Sala family continuing to keep the finger in the pie? Rodd continues to be a consultant - what a joke. Him and his management team have nearly sent the company broke, have had no success in getting new signs up or advertisers. What on earth can Rodd contribute to the company now, that he hasn't already in 6 years. He'd be better off remaining a punter on the share market trading his SMSF portfolio.
As for current management, we have a Mars Bar salesman, a stockbroker, a banker and an accountant running the company. These would be more like the guys you would employ when you are about to go into receivership not when you are about to install 100 "hi-tech" video screens around the world. (Incidentally, 2 of the guys own a combined total of $3800 in LUM shares - yep, shows their huge faith in the company and commercialising the technology).
Anyone want more signs of their incompetence? They haven't even been bothered to update their website with the ASX ann's since December. They indicated, at the AGM, that negotiations regarding a rent reduction on the 4TS sign were occuring and this would be announced sometime in January. This ann. didn't occur, so my understanding is that the 1 year honeymoon rate has now completed and there has been a very substantial rate increase for LUM. We were promised monthly project updates last year - and yes, as per typical LUM style, I think we may have got 3-4 before it all just got too hard and they became too busy to do them any more (I'm sure it wasn't because they had no news). Rodd Sala, his family and his mates James Del Piano and Andersen have made significant amounts of money out of Lumacom :- Rodd collected $200k+/yr in wages for 6 years plus his family dumped millions of dollars worth of shares on the market, (and he continues to collect consultancy fees). Del Piano and GED sold around 10mill+ shares at an average of over 50c, giving him a profit of $5mill as the shares were given to Del Piano in return for his help in listing the company.
Lumacom doesn't listen to suggestions - they never have and when they go down I'll have no sympathy for Rodd and his bro's. The b/s him and at least one previous CFO have fed me is nothing short of absolute disgraceful.
I apologise that I can not give the reasons that have precipitated this outburst, however, shareholders will find out in time