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Microcap & Penny Stocks : Luminart - LUMNF, LUMN-T
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To: Kit H. Lou who wrote (42)9/26/1996 6:28:00 PM
From: Kit H. Lou   of 329
 
All: Chuck Courson's response to GC's comments:

I sent Chuck a copy of GC's comments that I posted earlier and here is his response (received a few minutes ago) to that and some of my other gripes and questions:
____________________________________________________________________
Kit:

I never get disturbed about what George Chelekis writes. He has no
credentials which qualify him to offer a meaningful opinion on any stock
and anyone who chooses to write in the malicious fashion that he does
should also not be considered seriously. I ignore it.

As far as Omnicad is concerned. They are up to date. Rather than
wasting your time with rumours, call Dick at Omnicad and confirm it for
yourself. We have nothing to hide.

Cheated two years in a row? I understand how you feel. We've worked
hard as a company to negotiate the contract with India and to assist
them in establishing operations there. They have paid us C$3.5 million
of a C$7 million contract, with the most recent payment of C$1.5 million
coming just a few weeks ago. How then can our auditors disallow revenue
from the contract which is due and payable? I do not wish to cast any
doubt on the capabilities of our auditors but this matter is not black
and white. We hold the strong opionion, supported by another major
auditing firm, that the India revenue should not have been disallowed.

The conference call with Bob and Dale was an important step in our
ongoing effort to justify shareholder confidence. This is a vital issue
to this company and it is my mandate to continuously improve this area
of our operations.

Press releases will also be issued next week on Tuesday and Thursday. I
presume you saw today's release.

I cannot comment on NASDAQ as it is in their hands. Until they give me
a response, it is impossible to say how it will play out.

Thanks again Kit for your keen interest in Luminart.

Chuck Courson

____________________________________________________________________

Sounds good! Looks like they need to change auditors. Any comments?

Regards,

Kit
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