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leebret

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leebret

Re: None

Saturday, 05/03/2008 10:19:43 AM

Saturday, May 03, 2008 10:19:43 AM

Post# of 975
Things that have changed (vs) Things that haven't.


Things that changed.

1) On March 31st 2008 Luminent announces with a pr the proposed restructuring the stock opens @ 65 and hits a low of .55 and closes @.61 on 890,400 shares


2) The zacks article on April 14th gave a .30 price target and nothing to really back up their position.....link below; Stock drops from a high of .52 and closes @.44 on 1,214,000 shares.

http://www.zacks.com/blog/post_detail.html?t=12318

3) On April 28th 2008 the NYSE puts out a pr of its own saying they would delist the company on Friday, May 2nd. Stock opens on the (28th) @ .38 and closes @ .37 on low volume of 231,600 shares and as the week progresses to Thursday (May 1st) the day before the delisting we open @.25 and close @.22 on heavy volume of 5,437,700 shares as institutions liquidate their positions.

NEW YORK, April 28, 2008 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of Luminent Mortgage Capital, Inc. (the “Company”) – ticker symbol LUM - should be suspended prior to the opening on Friday, May 2, 2008.
The decision was reached in view of the fact that the Company has fallen below the New York Stock Exchange’s (“NYSE”) continued listing standard regarding average share price over a consecutive 30 trading-day period of not less than $1.00. In addition, the market capitalization of the Company’s common stock recently has also fallen below the NYSE’s continued listing standard regarding average global market capitalization over a consecutive 30 trading day period of not less than $25 million, which is the minimum threshold for listing.

4) We start trading the OTC exchange with all the chaos of ticker symbol change, no streamer exc. We open @.21 hit a low of .15 and close @.19 with heavy volume of 2,539,200 shares traded. With those who got shocked, running from their positions.


Now onto the things that haven't changed. This is the part that irritates the doom and gloomers who claim at every-turn that "I" told you so...."Look at me and what I said, ain't I brilliant"? Now while I will agree they have visual evidence that the share price has changed and they temporarily have crystal balls that seem to work.

I'm so sorry to disappoint them when I say ...........Nothing has changed and now I'll run down a list of things that we have no need of a crystal ball to enhance our positions to remain long.


THINGS THAT HAVEN'T CHANGED;

1) On April 22nd I reported the new short numbers. By April 15th they had covered almost 4 million shares of the 11 million short over a 45 day period. I'm sure the new period between April 15th and April 30th those numbers went even lower. Last short numbers reported on April 15th stood @ approximately 7 million.

Even though the short numbers haven't boosted the share price they have continued to cover and we have the evidence to prove it. Assuming they covered as many as 2 million in the latest period, they still need 5 million more. The four events above helped them in their quest to cover while not raising the price and I don't think there is anyone that would disagree with that. So there is no need for anyone to point out the lack of the "so called short squeeze" hasn't happened. It's obvious, we know, and we understand why we haven't got one! Now do you get it? No need for a crystal ball to explain it, hey?

2) Since August of 2007 when everything collapsed and expectations were they would declare bankruptcy, the doors remain open and Luminent remains in business.

3) Has anything changed since the release of their 10k (for the year 2007) on March 28th 2008? They took another massive write down and remain in business as of May the 3rd.

4) In December we know that Arco upped the extended line of credit to Luminent too $190 million dollars.

5) At the end of Dec we know they had $45 million of undistributed income to shareholders;
As of December 31, 2007, we estimate that we had approximately $45.0 million of undistributed REIT taxable income

6) We know that as of Dec 31st 2007 they had over 4 billion of loans on the books;
For the near-term, we believe we can take advantage of our existing resources to absorb CRM business without significant increases in expenses as our own whole portfolio has decreased from $5.9 billion as of July 2007 to $4.2 billion as of December 31, 2007 primarily due to prepayments.

7) We know that the markets have stabilized since last August and with the latest Fed moves, it has pumped much needed liquidity back into the markets.

8) We know that the recent cut in interest rates has added significantly to Luminent's advantage.

9) We know of no additional margin calls since the last reporting period.

10) We can assume that the first & second quarter numbers will be much better than the 3rd and 4th quarters of 2007.

11) We know that in addition to the 45 million of undistributed income through Dec 2007 they will also have the 1st and 2nd quarters income to distribute as well.

12) We know that they will be paying out a one time dividend of cash and stock at some point in this process.

13) We know that Arco has been steadfast in their continued support of Luminent, with cash and board-member guidance.

14) We know that those short this stock will want to cover their positions long before (if possible) any dividend is announced. We have the evidence!

15) We know they have a plan of action under the new LLC to become diversified and already have a new partner in one venture.

16) We know that the current market cap in no way reflects the current value of the company even with the negative events of late.

17) We know that one day they will up-list the stock.

18) We know the silence is do to pending lawsuits and the litigious society we live in.

19) We know that by the end of June we will have several pr's about the dividend payouts and much more up-to-date financial information to properly value Luminent.

20) Twenty is for the Naysayer's.
We know that there are many on the sidelines wishing, praying, hoping, for this to fall much further. We know they want it to fall so they can jump in for a quick trade. We know that they are vicious and unrelenting in there pursuit of all the negatives. We know that they will joyfully proclaim that they jumped in and made a quick trade. They will stop at nothing to disrupt any logical long term view and remind everyone how far the price has fallen. They are hanging around in the hopes of jumping in quickly on any positive news. Some enjoy the art of inflicting pain on anyone's loses and how superior it makes them feel when they can ridicule and degrade others.

I could have made more points on "Things that haven't changed" and anyone that would like to add more is certainly welcome to do so. I don't invest with my heart, I invest with my head and the knowledge that I have attained. I have a large investment and the things that haven't changed is the reason I share these things and hold my investment.


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