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|the last news on this companies website is dated 15 June 2012 - and that was a release posted while the company was still listed - are directors keeping shareholders informed of developments? - certainly not via the company website||03/03/2013|
|delisted at the request of the Company||20/06/2012|
|we understand that the acquisition of mineral portfolio interests on the terms and conditions of the Duyfken Option Agreement, necessitated the delisting of the company so that the Duyfken option can be exercised - the company intends to issue a prospectus and seek quotation on an exchange||20/06/2012|
|Optiro Pty Ltd (Optiro) has prepared an Independent Geologists's report on the mineral assets of Luminus Systems Limited||22/05/2012|
|we understand that on or about this date the company consolidated its shares 1 for 10||30/11/2011|
|the securities of Luminus Systems Limited (LSLDA) will be suspended from quotation immediately, following security holder approval of the acquisition of mineral portfolio interests on the terms and conditions of the Duyfken Option Agreement, and the resultant change of activities||28/11/2011|
|the suspension of trading in the securities of Luminus Systems Limited (the "Company") will be lifted immediately, following a release to the market by the Company titled; "Luminus Acquires Extensive Minerals Portfolio Includes Significant Gold and Phosphate Holdings"||12/10/2010|
|the securities of Luminus Systems Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement by the Company||11/10/2010|
|we understand that on or about this date the company consolidated its shares 1 for 100||18/11/2008|
|securities reinstated to quotation||03/09/2008|
|securities suspended from quotation following failure to lodge its half report for the period ended 30 June 2008||01/09/2008|
|listed under the Company's reorganisation scheme to insert Luminus Systems Limited as the parent entity. Luminus Systems Limited is expected to be admitted to the official list on or about Monday 18 October, under the ASX code LSL||18/10/2004|
|You make some very good points. Regulatory oversight, particularly at the small end of the market, is non-existent. |
A generalisation - but most of the problems occur because directors and managers are not up to it. We would like eventually to co-relate failure with specific people so that shareholders avoided their companies.
It seems this company (Luminus Sustems) is following the path of many other companies, that is, have enough cash to pay directors and managers for a number of years while reinventing yourself a number of times and reducing people's shareholdings down to nothing. Once achieved, it is then a matter of paying these 'suits' until there is nothing left in the kitty. Then the company can go bust but management still have the good life because they have prepared for it.
I can hardly remember what the original name of this company was! Now they are going to get into resources. This isn't new either. How many companies have done this already and then gone bust? We, the investors might just as well donate our money to paying the salaries instead of thinking we might do OK for our retirement. So many company gurus are living the good life at our expense. My original investment of shares was large and now is a big number of 4. That's right 4. FOUR shares worth 4.5cents each today. How much did each share cost me? $1,500. Some investment over the years, but the company is still there and the people who run it are still being paid good money for loosing mine.
Where is ASIC? They were not there when Pasminco (a successful Zinc company) went under because Management got currency investing wrong. They, like the Phoenix, arose from the ashes, renamed, only to go under for a second time. Investors did not get one cent on either occasion. Good on you ASIC. How many have there been? How many more to come?
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Date of first appointment, title may have changed.