Luminart - LUMNF, LUMN-T Message Board

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Microcap & Penny Stocks : Luminart - LUMNF, LUMN-T

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To: Kevin Mahler who wrote (26)	9/18/1996 10:57:00 AM
From: Kit H. Lou	of 329

All: Annual results came out this morning. BIG disappointment! They posted a loss of C$0.33 with revenues of C$9.3 million. This contrasted very differently with the expected C$14 million and earnings of C$0.09 numbers. Even if we factor in the Indian revenues as described, they would still have come out with a loss of C$0.05 and revenues under C$13 million. Two years in a row, their unaudited quarterly numbers differed significantly from the final audited numbers. How can one trust their unaudited quarterly numbers anymore? Has the management learned their lessons? Will Luminart ever live up to the expectations? They will have a conference call today at 2pm (phone number 416-620-7233). I would appreciate a brief summary of the conference (if anyone out there reading this will participate or participated). Kit H. Lou

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