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 (44)	9/27/1996 6:16:00 PM
From: Kit H. Lou	of 329

Kevin, I guess it is black and white because one way to look at it is you should be able to spread the revenues (fully expecting to come in here) over the life of the contract - like depreciation. However, I agree with you that the conservative approach of the auditors here is preferable. What really bugs me here is the 15 cent swing in earnings (disregarding the India revenues) which Bob Hill is apparently not responsible. I got confirmation from Courson that Bob Hill is now running the day to day operations and has full authority (Mike Ivezic, the founder, only serves in an advisory role). Hopefully, Bob Hill (unlike Ivezic) will be able to take Luminart to the promised land. Regards, Kit

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