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UAMA fraud. CAVEAT EMPTOR. MMs diddling!
UAMA NOT A MINER! Just landlord business!
Color it "hobby-sized"!
Blockdomes dumb with poor return unlike HUT 8 who really knows how to invest and mine.
UAMA a fraud always pretending to be doing something and moving forward.
Has no working capital, actually quit mining back in 2020 and only a skeleton left after devastating $47M bankruptcy proceeding in Supreme Court of BC.
Here's the truth from 2020 ANNUAL REPORT:
"The company owns servers and hosts servers owned by third parties. The Company provides hosting and managed services for the third parties for a fee."
UAMA is not a miner.
UAMA IS NOT A MINER!
Just a f_ _ _ _ _ g LANDLORD renting facilities to real miners.
Old processors and only 70% rented out.
UAMA NOT A MINER! Just landlord business!
Color it "hobby-sized"!
Blockdomes dumb with poor return unlike HUT 8 who really knows how to invest and mine.
UAMA a fraud always pretending to be doing something and moving forward.
Has no working capital, actually quit mining back in 2020 and only a skeleton left after devastating $47M bankruptcy proceeding in Supreme Court of BC.
Here's the truth from 2020 ANNUAL REPORT:
"The company owns servers and hosts servers owned by third parties. The Company provides hosting and managed services for the third parties for a fee."
UAMA is not a miner.
UAMA IS NOT A MINER!
Just a f_ _ _ _ _ g LANDLORD renting facilities to real miners.
Old processors and only 70% rented out.
UAMA a "nothing" NOT A MINER!
Here's the truth from 2020 ANNUAL REPORT:
"The company owns servers and hosts servers owned by third parties. The Company provides hosting and managed services for the third parties for a fee."
UAMA is not a miner.
UAMA IS NOT A MINER!
Just a f_ _ _ _ _ g LANDLORD renting facilities to real miners.
Old processors and only 70% rented out.
OTC Markets 'flag up" on UAMA. Big problems!
Warning from OTC Markets web site for UAMA
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Read 2020 Annual Report and nonsense about not coming under AMF in Quebec. Not sure if brainiacs at UAMA thought out their arguments. If they can convince AMF they are not under Canadian control that will make them INELIGIBLE to hold Canadian spectrum licenses. And that will be the end of TNW Wireless for sure, though they are already talking about writing it off so they don't care and don't see the abundant opportunity in wireless any longer. Why you ask? They're incompetent is why!
UAMA is failing fast! Absolutely no upside.
Only source of revenue has been Blockdomes. Note that I did not say cryptocurrency mining.
They stopped mining in 2020 and they apparently only rent Blockdomes now and can't even rent them all. Only operating about 70% of them.
Huge problems with Blockdomes currently:
1) Quebec Court has ordered shut-down of miners. Appeal upheld shut-down order.
2) Processors are now old and over three (3) years old. UAMA acknowledges they need replacement with state-of-the art processors though doesn't have the money to update them.
3) CETAQ (UAMA) sought creditor protection in Quebec to prevent power COOP from shutting off the power.
Read 2020 Annual Report and note operating statement and balance sheet. Both are troubling!
Operating statement shows very little revenue from actual mining-related business. Would have lost hugely if not for one-time abandonment in place of miners by previous mining client who cancelled business arrangement. Why did they cancel you ask? Likely because of Quebec Shut-down Order and wished to avoid becoming a party to Contempt of Court charges for continued operations on land specifically designated as "agricultural use only".
Eposes UAMA management for the clowns they are. Nobody in the management team has anyrelevant past management experience. Benoit Laliberte, UAMA CEO was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors.
OTC FLAG UP! CAVEAT EMPTOR.
Cautionary statement and warnings in place.
MMs diddling and NO underlying value.
SEC action will kill UAMA.
Close look reveals UAMA is junk, worthless!
2020 Annual Report says UAMA near death!
No working capital see UAMA 2020 Annual Report.
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Overall a pretty grim picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door!
His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
Note that Benoit Laliberte has never built a business of lasting value. Any real company would have dumped him years ago. He's unfit and he's not capable.
Bottom line: A grim outlook for UAMA. Expect it to fail in 2021.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
70% drop in 2020 annual revenues! Devastating.
2020 Annual Report says UAMA near death!
No working capital see UAMA 2020 Annual Report.
"Going concern" alarm in UAMA 2020 Annual Report.
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Not a pretty picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door!
His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
Note that Benoit Laliberte has never built a business of lasting value. Any real company would have dumped him years ago. He's unfit and he's not capable.
Bottom line: A grim outlook for UAMA. Expect it to fail in 2021.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
2020 Annual Report says UAMA near death!
"Going concern" alarm in UAMA 2020 Annual Report.
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Not a pretty picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door!
His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
Note that Benoit Laliberte has never built a business of lasting value. Any real company would have dumped him years ago. He's unfit and he's not capable.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
UAMA "the walking dead" of Pink-listed companies!
Whose crazy enough to buy this junk stock?
Read the 2020 Annual Report it's full of "red flag" warnings.
OTC Markets "skull & crossbones" flag still up on this POS.
OTC Markets labels as "dark or defunct".
Kind of like "the walking dead" of Pink-listed companies!
Whose crazy enough to buy this junk stock?
Read the 2020 Annual Report it's full of "red flag" warnings.
OTC Markets "skull & crossbones" flag still up on this POS.
OTC Markets labels as "dark or defunct".
Kind of like "the walking dead" of Pink-listed companies!
UAMA is failing fast! Absolutely no upside.
Only source of revenue has been Blockdomes. Note that I did not say cryptocurrency mining.
They stopped mining in 2020 and they apparently only rent Blockdomes now and can't even rent them all. Only operating about 70% of them.
Huge problems with Blockdomes currently:
1) Quebec Court has ordered shut-down of miners. Appeal upheld shut-down order.
2) Processors are now old and over three (3) years old. UAMA acknowledges they need replacement with state-of-the art processors though doesn't have the money to update them.
3) CETAQ (UAMA) sought creditor protection in Quebec to prevent power COOP from shutting off the power.
Read 2020 Annual Report and note operating statement and balance sheet. Both are troubling!
Operating statement shows very little revenue from actual mining-related business. Would have lost hugely if not for one-time abandonment in place of miners by previous mining client who cancelled business arrangement. Why did they cancel you ask? Likely because of Quebec Shut-down Order and wished to avoid becoming a party to Contempt of Court charges for continued operations on land specifically designated as "agricultural use only".
Eposes UAMA management for the clowns they are. Nobody in the management team has anyrelevant past management experience. Benoit Laliberte, UAMA CEO was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA failing! See 2020 Annual Report!
"Going concern" alarm in UAMA 2020 Annual Report.
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Not a pretty picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door!
His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
UAMA CEO convicted criminal. Criminal enterprise? CP (Canadian Press) 49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors.
What kind of a company has convicted criminal President, CEO and CFO? CAVEAT EMPTOR.
evidence:
"Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release."
and more evidence:
PUBLISHED FEBRUARY 22, 2008 (Toronto Globe & Mail)
UPDATED APRIL 26, 2018 (Toronto Globe & Mail)
The former head of Jitec Inc. was convicted yesterday of insider trading and deceiving investors while pumping up the value of his now-defunct Montreal high-tech firm. A judge found Benoit Laliberte, 35, guilty on 41 of 48 counts of breaking Quebec's securities laws. Quebec's securities regulator will seek about $1.5-million in fines plus costs from Laliberte for manipulating share prices while the company was listed on the Montreal Stock Exchange. Thirty of the convictions were for failing to disclose changes in Laliberte's control over Jitec shares. The rest of the counts were for insider trading, deceiving investors in news releases and inflating the value of contract.
Then there's the FAILURE to properly disclose material his PERSONAL BANKRUPTCY to investors and in SEC filings. Evidence in CCAA Proceedings before the Supreme Court of BC produced the following:
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation.
Ask yourself, "What kind of company has convicted criminal CEO?"
Then ask yourself, "What kind of a company has a bankrupt CEO?"
Caveat Emptor - CAVEAT EMPTOR - see OTC Markets - UAMA
OTC flag up on UAMA. CAVEAT EMPTOR
OTC Markets flag up on UAMA. Skull & crossbones!
Could it be AMF Cease Trade Order is problem?
Warning per OTC Markets follows:
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Note OTC Markets labels UAMA as "Dark of Defunct"
OTC Markets flag up on UAMA. Skull & crossbones!
Could it be AMF Cease Trade Order is problem?
Warning per OTC Markets follows:
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Note OTC Markets labels UAMA as "Dark of Defunct"
"Going concern" alarm in UAMA 2020 Annual Report.
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Not a pretty picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door!
His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
Never forget! UAMA CEO convicted criminal. CP (Canadian Press) 49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors.
What kind of a company has convicted criminal President, CEO and CFO? CAVEAT EMPTOR.
evidence:
"Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release."
and more evidence:
PUBLISHED FEBRUARY 22, 2008 (Toronto Globe & Mail)
UPDATED APRIL 26, 2018 (Toronto Globe & Mail)
The former head of Jitec Inc. was convicted yesterday of insider trading and deceiving investors while pumping up the value of his now-defunct Montreal high-tech firm. A judge found Benoit Laliberte, 35, guilty on 41 of 48 counts of breaking Quebec's securities laws. Quebec's securities regulator will seek about $1.5-million in fines plus costs from Laliberte for manipulating share prices while the company was listed on the Montreal Stock Exchange. Thirty of the convictions were for failing to disclose changes in Laliberte's control over Jitec shares. The rest of the counts were for insider trading, deceiving investors in news releases and inflating the value of contract.
Then there's the FAILURE to properly disclose material PERSONAL BANKRUPTCY to investors and in SEC filings. Evidence in CCAA Proceedings before the Supreme Court of BC produced the following:
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation.
Ask yourself, "What kind of company has convicted criminal CEO?"
Then ask yourself, "What kind of a company has a bankrupt CEO"
Caveat Emptor - CAVEAT EMPTOR - see OTC Markets - UAMA
Prediction- UAMA will fail in 2021.
Read 2020 Annual Report!
It's all there for any savvy investor to read.
Consider depth of troubles:
1) Financials clearly show working capital CRISIS!
2) Company addresses "GOING CONCERN" worries!
3) Company readying to write-off sizable parts of business.
4) Blockdome operations compromised by Quebec Court Order, power supply problems, probability of costly move to non-agricultural land. Only renting Blockdomes out to real small miners and not mining directly so killed any real upside from mining.
5) Unknown ability to raise capital required as per 2020 Annual Report. Company says probability unknown though any potential lender will see fragile nature of business operations and fact UAMA CEO is a convicted criminal. Hard, if not impossible, to raise capital with these impediments.
Fact is Benoit Laliberte has led UAMA down the same failing path as Jitec, Inelco, Teliphone, Navigata, Westel, TNW Wireless, TNW Networks etc. His crowning achievement was the $47M bankruptcy still before the Supreme Court of BC. That proceeding has seen all the assets "gutted" and sold off to Distributel which took most of the employees.
Mr. Laliberte has proven, beyond any reasonable doubt, that he is an incompetent and fraudulent business leader. If UAMA had any governance at all they would have replaced him long ago!
OTC Markets Group Inc. ("OTC Markets") has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware). OTC Markets Group designates certain securities as “Caveat Emptor” and places a skull and crossbones icon next to the stock symbol to inform investors that there may be reason to exercise additional caution and perform thorough due diligence before making an investment decision in that security.
"Going concern" alarm in 2020 Annual Report. Devastating!
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Not a pretty picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door! His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
Will UAMA CEO be charged for threats?
UAMA CEO threatened Officer of the Court in writing in $47M bankruptcy proceeding of Teliphone-Navigata-Westel before the Supreme Court of BC.
Will he face charges for these threats?
Another breached agreement by Benoit Laliberte, UAMA CEO!
TNW Wireless Inc. sued by former CEO.
Suit filed in the Supreme Court of British Columbia for breach of employment contract. Suit seeks amounts owed as stipulated in employment contact plus damages.
Paused for Covid-19 though likely to trial in late 2021.
TNW Wireless Inc. sued by former CEO.
Suit filed in the Supreme Court of British Columbia for breach of employment contract. Suit seeks amounts owed as stipulated in employment contact plus damages.
Paused for Covid-19 though likely to trial in late 2021.
UAMA CEO breaches agreements!
From the Court (Supreme Court of BC)
Docket S130592
(98) .............I do not accept that breaches of the agreements — which appear to be the basis upon which Mr. Laliberte prefers to do business — are the basis upon which to establish the status quo.
Part of Decision from Justice Fitzpatrick
This is only a part of the rich legacy of fraudulent dealings by Benoit Laliberte, UAMA CEO.
You'll note he was labeled as a convicted criminal by The Canadian Press for his convictions on 44 of 48 charges for stock fraud, market manipulation and deceiving investors back in 2008 and 2009.
UAMA in deep financial distress. Read 2020 Report!
It's bad and company expected to FAIL.
Add to list of failures by Mr. Benoit Laliberte that include Jitec, Inelco, Teliphone, Navigata, Westel, TNW Wireless, TNW Networks and numerous numbered companies.
His crowning achievement was the 2016 $47M Bankruptcy proceeding of Teliphone-Navigata- Westel et al.
Mr. Laliberte has never built a business of lasting value.
Never forget! UAMA CEO convicted criminal. CP (Canadian Press) 49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors.
What kind of a company has convicted criminal President, CEO and CFO? CAVEAT EMPTOR.
evidence:
"Montréal – In a decision handed down on April 28, 2009, Judge Richard Wagner of Superior Court (Criminal and Penal Division), district of Montréal, found Benoît Laliberté guilty of three of the four charges under an appeal launched by the Autorité des marchés financiers (AMF) in September 2008.
At the request of the AMF, the Court thereby quashed the acquittal verdicts issued by Judge Céline Lacerte-Lamontagne in February 2008 in respect of charges 6, 9 and 38. Specifically, the AMF succeeded in its appeal in respect of two charges related to an insider's obligation to report transactions within the time period prescribed by law and in respect of one charge related to making misrepresentations in a press release."
and more evidence:
PUBLISHED FEBRUARY 22, 2008 (Toronto Globe & Mail)
UPDATED APRIL 26, 2018 (Toronto Globe & Mail)
The former head of Jitec Inc. was convicted yesterday of insider trading and deceiving investors while pumping up the value of his now-defunct Montreal high-tech firm. A judge found Benoit Laliberte, 35, guilty on 41 of 48 counts of breaking Quebec's securities laws. Quebec's securities regulator will seek about $1.5-million in fines plus costs from Laliberte for manipulating share prices while the company was listed on the Montreal Stock Exchange. Thirty of the convictions were for failing to disclose changes in Laliberte's control over Jitec shares. The rest of the counts were for insider trading, deceiving investors in news releases and inflating the value of contract.
Then there's the FAILURE to properly disclose material PERSONAL BANKRUPTCY to investors and in SEC filings. Evidence in CCAA Proceedings before the Supreme Court of BC produced the following:
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation.
Ask yourself, "What kind of company has convicted criminal CEO?"
Then ask yourself, "What kind of a company has a bankrupt CEO"
Caveat Emptor - CAVEAT EMPTOR - see OTC Markets - UAMA
CAVEAT EMPTOR, heed my warnings! Mostly correct!
During past several years I've posted to warn of fraud associated with Mr. Benoit Laliberte.
The 2020 Annual Report clearly shows that I was "on target" with my observations.
SEC closing in on enforcement and that, if not the miserable state of affairs outlined in the 2020 Annual Report, are likely to kill UAMA in 2021.
Case law shows SEC will act!
SEC revoked listings of both Inelco and Teliphone.
Could SEC REVOKE UAMA just like Inelco and Teliphone?
Inelco and Teliphone also run by Benoit Laliberte! All shareholders will be wiped out! History will repeat itself with these fraudsters!
SEC action supported by case law!
Nearly identical infractions though Benoit Laliberte was found guilty of 44 of 48 counts of stock fraud, market manipulation and deceiving investors. So Laliberte clearly outclasses Brooks on number of convictions!
Read the link to see how the SEC prosecuted this identical case:
https://www.sec.gov/files/Judg12-cv-02716Brooks.pdf
Should be a "plug and play" case for the SEC with UAMA and Mr. Laliberte and likely just a matter of time before action taken.
Formal complaints have been filed with SEC and now at State level.
Maybe, just maybe, due to volume of prior convictions in Canada they'll set fine far above level he can pay and he'll face the incarceration he should have received in Canada.
SEC action could end fraud that is UAMA.
SEC complaint seeing action referred to State AG!
SEC doesn't prosecute and that up to State.
If case went way of SEC vs Brooks in 2016 trial and sentencing could expect, as a minimum, Mr. Laliberte ,UAMA CEO to be given lifetime ban on any future involvement as officer with any public entity and stiff fines particularly in light of UAMA CEO conviction on 44 counts of stock fraud, market manipulation and deceiving investors.
Laliberte's failure to properly divulge $47M bankruptcy of Teliphone,Navigata, Westl, etc. and properly disclose his status as a undischarged bankrupt individual for over ten (10) years will likely play into sentencing.
Court action could end fraud that is UAMA.
SEC complaint seeing action referring to State AG!
SEC doesn't prosecute and that up to State.
If case went way of SEC vs Brooks in 2016 trial and sentencing could expect, as a minimum, Mr. Laliberte ,UAMA CEO to be given lifetime ban on any future involvement as officer with any public entity and stiff fines particularly in light of UAMA CEO conviction on 44 counts of stock fraud, market manipulation and deceiving investors.
Laliberte's failure to properly divulge $47M bankruptcy of Teliphone,Navigata, Westl, etc. and properly disclose his status as a undischarged bankrupt individual for over ten (10) years will likely play into sentencing.
SEC action vs UAMA CEO maybe this year!
SEC doesn't prosecute and that up to State. Referred to State AG for action.
If case went way of SEC vs Brooks in 2016 trial and sentencing could expect, as a minimum, Mr. Laliberte ,UAMA CEO to be given lifetime ban on any future involvement as officer with any public entity and stiff fines particularly in light of UAMA CEO conviction on 44 counts of stock fraud, market manipulation and deceiving investors.
Laliberte's failure to properly divulge $47M bankruptcy of Teliphone,Navigata, Westl, etc. and properly disclose his status as a undischarged bankrupt individual for over ten (10) years will likely play into sentencing.
SEC complaint seeing action referred to State AG!
SEC doesn't prosecute and that up to State.
If case went way of SEC vs Brooks in 2016 trial and sentencing could expect, as a minimum, Mr. Laliberte ,UAMA CEO to be given lifetime ban on any future involvement as officer with any public entity and stiff fines particularly in light of UAMA CEO conviction on 44 counts of stock fraud, market manipulation and deceiving investors.
Laliberte's failure to properly divulge $47M bankruptcy of Teliphone,Navigata, Westl, etc. and properly disclose his status as a undischarged bankrupt individual for over ten (10) years will likely play into sentencing.
UAMA in deep distress. Expect 2021 failure!
Likely near end-of-life.
Read 2020 Annual Report and note:
1) "going concern" comments and worries! UAMA would have lost money on mining where it not for the one-time credit for the gift of old and outdated processors from Woodland(?). It is likely the value of these old processors is far lower than that credited on the Income Statement. Remember they're UNAUDITED and likely to be changed following any future audit.
2) write off likely for TNW Wireless
3) write off for retained assets related to $47M bankruptcy of Teliphone-Navigata-Westel
4) Miners in deep trouble with Quebec Court shut-down order and comments that Company may face very costly move to relocate miners to non-agricultural land and restore existing land to pure agricultural use. In addition troubles with electrical service and Cetaq, UAMA et al sought creditor protection from power COOP likely to prevent shut-off off of service. Maybe they're delinquent or not paying for their electric bill!
5) BS comments on reason for stopping mining operations in early 2020. Though then we learn from Lawry Trevor-Deutsch, VP that they are now only acting as a "landlord" and renting Blockdomes to small miners who actually do the mining. All likely in an attempt to avoid operating Cetaq, UAMA et al miners in contempt of Court.
6) there's a working capital crisis at UAMA and that's also acknowledged in the 2020 Annual Report. They say that it is "unknown" if they can raise capital, when you know they've already tried and failed.
I've said it over and over, "at UAMA our most important product is the ILLUSION of progress". Illusion it is and a closer look reveals all the rot and failures by a remarkably incompetent management team. This is the same team that killed, Jitec, Inelco, Teliphone, Navigata, Westel, TNW Wireless, TNW Wireless and a host of other named and numbered companies that are long gone.
Now it should be nor surprise that it would be difficult to raise capital with this track record. However, having a convicted criminal as President, CEO and CFO makes it nearly impossible to raise capital.
Mr. Benoit Laliberte, President, CEO and CFO of UAMA et al has a long and checkered history of business failures. In fact, Mr. Laliberte has never built a business of lasting value.
All that said, EXPECT UAMA TO FAIL IN 2021.
CAVEAT EMPTOR
UAMA miners compromised by Court Order, electricity
Read 2020 Annual Report to learn:
This poster correct in assumptions that land-use issues are a real threat to continued operations of Blockdomes. UAMA et al reports they could face moving Blockdome operations to another non-agricultural land site and face considerable cost and interruptions of operations. You will recall Quebec Court issued shut-down order, Company appealed and lost.
Cetac, UAMA et al in dispute with power COOP and filed for creditor protection to prevent the COOP from cutting off power in 2020.
UAMA et al has serious problems with the continued operations of Blockdomes.
They were shut-down in 2020, according to the 2020 Annual Report. Then restarted and only rented facilities to real miners, according to Lawry Trevor-Deutsch.
UAMA a real NOTHING now and hanging on for survival.
Read the 2020 Annual Report to expose falsehoods posted from FRAUDULENT POSTERS.
The truth is there in plain print and it's UGLY. UAMA at end-of-life!
UAMA not a real miner. Compare to HUT 8
Case in point HUT 8. A company literally on fire! Envy of industry and Canadian!
Compare UAMA to HUT 8 (TSX - HUT).
Look at their market cap! Over $1.02B CDN, yes that billion with a "B". Stock trading today at $5.10 USD vs UAMA at $0.07 USD.
HUT 8 is Canadian company and knows how to build miners effectively and at low cost. Wow! They didn't spend any time or money on making them look pretty or "green". Just built them to make money and please shareholders!
Note they have no goofy domes or BS coolers. They focused on building processing power and mining coin. Yes mining coin and they now own more Bitcoin than any other miner in the Western Hemisphere.
Did it all in Alberta of all places. Did it quick and while not pretty, very effectively. Contrast to the BS "greeny-weenie" Blockdomes that cost more and do less!
HUT 8 owns 3,012 Bitcoins with balance sheet value of $186M $CDN as of February 17, 2021.
How many Bitcoin UAMA et al own? My guess none as in ZERO!
Hut 8 has 1,073 PH/s and 109 megawatts of power in production. Compare to 6 megawatts at UAMA et al.
Facts are facts and UAMA can never raise the kind of capital to get into this game now as new more powerful processors are expensive!
Note HUT 8 raising $400M!
UAMA too little, too late and not competitive.
All this illustrates how insignificant UAMA really is.
OTC Markets flag still up on UAMA.
Could it be AMF Cease Trade Order is problem?
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Note OTC Markets labels UAMA as "Dark of Defunct"
Devastating outlook for UAMA. CAVEAT EMPTOR
"Going concern" alarm in 2020 Annual Report. Devastating!
Read the report and note the disclosure re "going concern".
Annual financials and notes reveal lack of working capital and cash. Look at income statement. If not for the one-time credit for customer-abandoned old processors (the value of which likely over-stated), it would have been a clear operating loss for 2020. Not even close to profitable.
Then there's the cautionary statement on need to raise capital and unknown ability to do so. Valid concern as UAMA CEO labeled as convicted criminal by The Canadian Press. Highly unlikely that any bank or financial institution would lend this enterprise capital. Any equity would/should be highly dilutive given management's track record of serial failures.
Not a pretty picture.
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door! His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.
Read devastating UAMA 2020 Annual Report. Write-offs!
Read about potential planned write-downs on Pages 12 & 13.
Page 12- UAMA considering write-down of investment in TNW Wireless.
Page 13 - UAMA considering write-down related to assets of TNW Networks.
Consider these strong signs of deep decay in this fraudulent enterprise. UAMA is failing fast!
Management and particularly Benoit Laliberte, CEO are ignorant of wireless industry and how to make money in this business. Farcical presentation before the CRTC was destined to fail. Garbage in, garbage out! Benoit himself screwed up the RuralCom acquisition. RuralCom CEO had built market-ready business and had outside financial support to quickly build and expand the business as a wholesale cellular provider. That business model well-proven by the likes of Comment Wireless LLC and others. RuralCom CEO had premium-priced roaming agreements in place with AT&T, Verizon, Sprint and T-Mobile. Mr. Laliberte thought he'd fire that CEO and go directly to the documented sources of capital. Those sources of capital showed him the door! His incompetence, business ethics and convictions aren't attractive qualities for a business partner.
UAMA's failure will be as a result of Benoit Laliberte's incompetence.