Here we see Superman's arch nemesis, Lex Luthor in prototype form. This protomolded figure is entirely hand painted. I find hand detailing lends any prototype a much more brilliant appearance than the production counterpart. I wasn't able to show the folowing bit of information in a picture so I will simply describe it. The armor portion was definitely glued into Lex Luthor's left hand at one point. Glue remnants are present in the hand along with minuscule paint loss on the inner hand. This exact missing paint is now located on the armor. I wanted to point out that interesting little tidbit.
Protomolded fgure prototypes were created in house at Kenner using low yield aluminum molds. One distinguishing characteristic is the milky white plastic employed in their creation. Protomolded figures never possess dates, copyright information, or footholes. These prototypes were specifically used as paint masters, catalog/photography samples, and trade show display pieces. Based on noticeable paint loss on the feet bottoms, I'd put the use of this prototype in one of the last two categories described above. Obviously the figure was glued down to something at one point.
Here we see the foot hole absence as well as the paint loss from being glued down. Notice some glue is still present on the feet, although it has obviously dried out over the years.
This prototype surfaced in a large find which included many Super Powers and Star Wars prototypes. The collection was consigned for an ex-Kenner employee by a well respected toy dealer in Cincinnati. This same find yielded all but one of the paintmaster figures with paint swatches showcased on this site.