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Microcap & Penny Stocks : Luminart - LUMNF, LUMN-T
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To: Paul J. Sharga who wrote (3)7/3/1996 12:29:00 PM
From: Kit H. Lou   of 329
 
I have been a long-time shareholder of Luminart.

IMHO, LUMN will stay flat until the earnings come out. I think the recent slide was due to concern about history repeating itself on the part of a few shareholders. LUMN was halted for ten days or so by the Ontario Security Commission last year for failing to meet the filing deadline for the annual results (I have been told that it won't happen this year because they have until mid-August to report, last year's earlier deadline was due to the fiscal year change). Instead of coming out with positive earnings, they came out with losses last year and that triggered a major selloff - management's reputation was badly tarnished. I believe management learned their lesson and is now more conservative about revenues/earnings projections.

I am still a believer in the long-term prospects of Luminart. I hope their next acquisition (rumored being worked on seriously) is an entity more related to their business (Impulse, being a notebook PC maker, is a questionable acquisition in my mind). With the setback in share price, I guess the NASDAQ smallcap listing will have to wait for a little while. With a good earnings report and a NASDAQ smallcap listing, LUMN should move. It does look like this week is a good time to pick up new shares.

Let's hope for a good earnings report next week!

Kit H. Lou
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