second quarter report, page-6

It's only 3 month revenue for the Barcelona sign, as the previous quarterly report indicated that there was no revenue from Barcelona.

The significant increase in revenue gives some credibility to Lumacom. The $1 million Cash burn for the quarter takes some of it away. Unfortunately it doesn't breakdown the -$902,000 Working Capital into recurring and non-recurring items (also a breakdown of the revenue sources would help).

Obviously a breakdown of the costs associated with production of a sign would help to determining future direction.

Looks like they've doubled their salaries by paying themselves consulting fees, but again, this is not clear (other than the $4k fee).

I still do not feel there is enough detail available to form a positive view or the company. Without delivering further revenue increases, they could run out of cash within a year. I'm keeping my bucks in my pocket because I'm conservative, but would be interested in other people's factual views.

Cheers