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Technology Stocks : LUMM - Lumenon Innovative Lightwave Technology Inc.
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To: Syl98 who wrote (1552)3/14/2000 3:30:00 AM
From: pat mudge  Read Replies (1) of 2484
 
Whoever wrote that "report" must have been smoking controlled substances.

I visited Lumenon's booth at OFC and find it somewhat puzzling the stock's not selling in the single digits.

There must be something I don't understand.

1) What are the end-products for these chips?

2) Why is Molex involved and not any components suppliers or vendors?

3) What is timing of first shipments? I understand they're sending an initial product to Molex for integration some time late-spring or early summer. What's the timing for volume shipments? For certification?

4) With their hands tied by Molex for a year, how will they gain attention from other vendors?

5) Why did the company go public so early? They're not only pre-revenue, but pre-product. A company at this stage deserves a valuation commensurate with the risks involved. Was going public an act of desperation? Couldn't they get funding any other way? Their arrangement with Molex certainly wasn't made from a position of strength.

As I see it, Molex sells the frame for the Cezanne, the spark plugs for the Ferrari, the gas range for the Chateaubriand, and any product being developed for their channels won't demand high-margins nor justify high valuations.

I like Molex. In fact, I think it's a fantastic company. But it's not pretending to be what it's not and I get a strange feeling Lumenon is.

What am I missing?

Pat
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