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Bitcoin wins. UAMA suit dismissed with prejudice
UAMA lost vs. Bitmain, Bitcoin et al. DISMISSED WITH PREJUDICE.
Brainiac Mr. Benoit Laliberte sued Bitmain et al and FAILED!
Nearly three (3) years of legal fees and management attention.
Judge dismisses UAMA complaint. UAMA loses again!
BITCOIN NEWS
by Jamie Redman
Apr 1, 2021
US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation
A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March 31, 2021.
UAC can try to continue the case by making an appeal to the U.S. Court of Appeals for the Eleventh Circuit within 30 days. McAliley’s order further emphasized that “it would be futile to allow UAC to further attempt to state a claim that Defendants violated the Sherman Act— Accordingly, the court dismisses the complaint with prejudice,” the Miami judge added.
UAMA CEO convicted criminal, bankrupt! Never forget! 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 - UAMA near failure!
Read the 2020 Annual Report, prepared by the Company.
I predict UAMA will fail in 2021.
Prediction- UAMA will fail in 2021. Read 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!
Crypto world doesn't care about green operations!
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 $5.63 vs UAMA at $0.06.
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!
UAMA too little, too late and not competitive.
All this illustrates how insignificant UAMA really is.
UAMA in deep financial distress. Read 2020 report!
After reading the report you'll understand why they were obligated to disclose "going concern" worries.
Look at revenues and note "one time" inclusion of miners abandoned by former mining client (Woodland-Vancouver?)
If you ignore the credit for old processors which likely have much, much lower realm value, UAMA et al suffered a significant loss on Blockdome operations in 2020. Not surprising since they shut-down miners for some period of time then restarted Blockdomes only renting them to others.
It is believed that the main reason to act as landlord was a thinly-veiled attempt to side-step the potential operations of Blockdomes in direct contempt of Court Order.
Bitcoin could go to $100K and it won't help UAMA as they are no longer and miner and there is no connection between Bitcoing value and acting as a landlord renting out Blockdomes.
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"
UAMA Blockdomes compromised by Court, 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!
Read 2020 Annual Report re "write-offs"
UAMA to consider writing of wireless business.
UAMA to also consider taking write down of assets kept from $47M bankruptcy. They're old tired and UAMA doesn't have the capital to put them to work.
UAMA raises "going concern" worries!
Read 2020 Annual Report.
Needs capital to continue operations.
Doesn't know if it can raise capital.
Convicted criminal CEO and lack of progress hampers access to capital.
Poster claims conflict w/ 2020 Annual Report.
Read the 2020 Annual Report and read ugly truth of UAMA's failing business.
Read about:
- Electrical supply problems at Blockdome miners
- Filing for creditor protection from power COOP
- Continuing land-use problems and real possibility requiring Blockdomes being re-located off agricultural land at great expense due to Quebec Court order.
As UAMA et al have disclosed this material information, fraudulent posts by posters suggesting a bright upside and future are both inaccurate and premature.
Indeed the 2020 Annual Report clearly raises "going concern" worries and clearly states that continued operations will require raising capital as there is a working capital shortage. In addition the Company is clear that there is no assurance that UAMA can successfully raise capital. That's made much more difficult due to convicted criminal CEO and total lack of progress in past two years!
It's pure FRAUD to make claims that there is a bright upside for UAMA et al at this time. Such statements run counter to the facts presented in the UAMA 2020 Annual Report.
Ignore unsubstantiated claims. UAMA in distress.
Yes ignore stupid claims like "Bitcoin going to moon, UAMA right behind"
Such claims are not based on fact and for truth read 2020 Annual Report from UAMA.
There you will find the ugly truth of a crippled enterprise near end-of-life.
UAMA not a miner. No connection to Bitcoin!
Typical Benoit Laliberte, UAMA President, CEO and CFO. You'll recall he was found guilty of 44 counts of stock fraud, market manipulation and deceiving investors. He seems to have a particular fondness for the latter. You know, treat shareholders like mushrooms, keep them in the dark and feed them manure.
In 2020 Annual Report you'll read admission that they weren't directly mining but providing services to others which was terminated on or about February 12, 2020. A 2020 article wherein Lawry Trevor-Deutsch refers to miners as only clients and refers to UAMA et al as the landlord confirms this. Then conflict over power rates, terms and conditions from power COOP or was it late payment? UAMA, Cetac, et al sought creditor protection. Wow! That's a big warning sign. On the heels of $47M bankruptcy of Telephone, Navigata, West et al in The Supreme Court of BC which is still open.
Then we read UAMA, Cetac et al suspended mining operations on May 25, 2020 and filed suit against power COOP. Was that because they were seriously delinquent on their power bills? Those who follow the antics and business ethics of Mr. Benoit Laliberte know the answer. His business practices even caused one Judge to comment that "regular breaches of contracts seems to be a business practice of Mr. Laliberte".
In the 2020 Annual Report you'll read that management has suspended interest on other business and is focused on cryptocurrency mining. The level of incompetence inside UAMA is astounding.
No signs of any "wins" or progress in past two years. UAMA is in full failure mode. Only question is how long can it survive?
Deep decay in UAMA and predictably a very bleak and short future.
UAMA CEO convicted criminal and bankrupt! Never forget! 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
Ignore fraudulent posters. Read 2020 Annual Report!.
Some posters try to deflect from the facts! CAVEAT EMPTOR
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.
Complicit posters try to deflect from "GOING CONCERN"?
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.
Is UAMA criminal enterprise? 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
UAMA in full failure mode! Going concern?
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 President, CEO, CFO convicted criminal and bankrupt! 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
Brilliant minds at HUT 8 not UAMA!
Compare UAMA to HUT 8 (TSX - HUT).
Look at their market cap! Over $1.02B CDN, yes that billion with a "B".
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.
Wonder 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.
Mention this to illustrate how insignificant UAMA's mining was/is. 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!
UAMA too little, too late and not competitive.
All this illustrates how insignificant UAMA really is.
"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.
Devastating UAMA 2020 Annual Report. "Going concern"?
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.
FLASH - UAMA loses anti-trust suit!
Bitcoin wins. UAMA suit dismissed with prejudice
UAMA lost vs. Bitmain, Bitcoin et al. DISMISSED WITH PREJUDICE.
Mr. Benoit Laliberte, UAMA CEO sued Bitmain et al and FAILED!
Nearly three (3) years of legal fees and management attention wasted and down the drain!
Judge dismisses UAMA complaint. UAMA loses again!
BITCOIN NEWS
by Jamie Redman
Apr 1, 2021
US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation
A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March 31, 2021.
UAC can try to continue the case by making an appeal to the U.S. Court of Appeals for the Eleventh Circuit within 30 days. McAliley’s order further emphasized that “it would be futile to allow UAC to further attempt to state a claim that Defendants violated the Sherman Act— Accordingly, the court dismisses the complaint with prejudice,” the Miami judge added.
UAMA CEO needs to go! He's incompetent!
The track record of Benoit Laliberte is horrible. He has totally compromised everything he has ever touched and has brought UAMA to the brink of extinction.
SEC complaint now making its way to State AG level and expect Benoit Laliberte to face complaint with likely same result as SEC vs Brooks in Texas. Banned from public company officer position, raising capital or promotion of public companies, etc. It is expected fines will be levied at higher levels due to his past convictions on 44 counts of stock fraud, market manipulation and deceiving investors.
UAMA on fast track to complete failure! No upside!
UAMA failure on all fronts! CAVEAT EMPTOR
Be smart and take time to read UAMA 2020 Annual Report.
Released on April 5, 2021.
Comments and financials show the precarious situation.
CAVEAT EMPTOR!
A real miner is focused on financial RESULTS!
Compare UAMA to HUT 8 (TSX - HUT).
Look at their market cap! Over $1.02B CDN, yes that billion with a "B".
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.
Wonder 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.
Mention this to illustrate how insignificant UAMA's mining was/is. 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!
UAMA too little, too late and not competitive.
All this illustrates how insignificant UAMA really is.
UAMA not miner! So says UAMA VP.
It's long and quoted from Coingeek:
"Sometimes high and low tech ideas feel like they were made for each other. That’s what Lawry Trevor-Deutsch found when he combined an old, mechanical cooling system with a cryptocurrency mining facility. The result is the Blockchain Domes Heat Station which he operates for United American Corp near Montreal, Canada.
The key technology is a Victorian one, Lawry says. The Canadian well is a ventilation system that draws air through underground pipes, from which it emerges into a building at a constant temperature - crucially, much cooler in summer than the air temperature in Canada. The Blockchain Dome contains thousands of mining computers which need to be kept cool. So as the air from the underground pipes emerges beneath them, it heats up and therefore rises.
And here’s the second clever part of the system: the air heated by the computers is piped through greenhouses, providing the plants with warmth in Winter and cooler than outside air in summer. And because the air is flowing and dry, it prevents mold and deters pests.
So the Domes business has two sources of revenue: renting out its computers to crypto miners; and renting out its greenhouses to farmers. It pays nothing for the cooling that the computers need; and the warmth that the computers generate and send into the greenhouses has also been paid for in the electricity charges to power the miners.
“It really is a win-win situation,” Lawry says, “and at the same time we’re creating a much better environment socially and for sustainability. It’s creating jobs and it’s reducing the carbon footprint.”
Even the power the Domes use is environmentally-friendly because it’s hydro in Quebec. “Certainly, it’s a greener way to mine” at a time when “a lot of the criticism of blockchain in general has been over its power consumption”.
Currently, there are 6,000 miners at work and Lawry is considering two new properties which he hopes will be launched within the next year. And the company is expanding by using the same technology to power data centres too.
As far as Bitcoin SV, Lawry says he doesn’t know what his clients are mining. He’s just the ‘landlord’, with the mining clients and greenhouse occupants just his tenants. In thinking about growing the business, it is much easier to create domes in locations where there is cheap energy than trying to match economic energy supplies with an existing warehouse or other facility. “We will take the mining to the opportunity,” Lawry says.
The company has a patent pending for the whole process and Lawry is bullish about the future: “you look at companies like Amazon and this is a natural for them. They’re trying to reduce their carbon footprint - there’s the perfect example”. Now as the owner of Whole Foods, Amazon could combine their data centres with growing food in the greenhouse, in a low carbon environment.
“We’re trying our best to be environmentally friendly and make money at the same time,” Lawry concludes."
Read UAMA 2020 Annual Report confirm UAMA et al just a simple LANDLORD!
UAMA CEO convicted criminal and bankrupt! Never forget! 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
UAMA President, CEO, CFO convicted criminal and bankrupt! 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
UAMA CEO a loser. Needs to GO!
He's incompetent and has never built a business of lasting value. Let that fact set in for a moment. Were he employed by a "real company", with a real Board of Directors, he would have been gone long ago.
There's been no progress under this loser for years.
He likes to revert to law suits to deflect attention from his own failures? Try that in a real business. Any Fortune 100 Company would have dumped him after only a few quarters of his missteps.
Just think:
• patent litigation failed after four (4) years
• $47M bankruptcy "the crowning achievement of Mr. Laliberte" gutted the whole enterprise
• entered wireless through acquisition of market-ready carrier with spectrum licenses and "blew it"
• anti-trust litigation failed (dismissed by Florida Judge "with prejudice")
• defamation litigation died but not before Singh LaMarch filed suit against their own client Benoit Laliberte
To any unbiased and objective observer Benoit Laliberte is incompetent and needs to resign. His abysmal track record had brought yet another enterprise to the brink of failure.
UAMA has little time left.
CAVEAT EMPTOR
OTC Markets warns on UAMA. CAVEAT EMPTOR
OTC Markets labels UAMA "Dark or Defunct"
Could it be AMF Quebec, Cease Trade Order is affecting OTC Markets status of 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.
UAMA failure on all fronts! CAVEAT EMPTOR
Be smart and take time to read UAMA 2020 Annual Report.
Released on April 5, 2021.
Comments and financials show the precarious situation.
CAVEAT EMPTOR!
Volume declining as UAMA dying!
Simple really.
No corporate progress in last 24 months.
TNW Wireless failed, $47M bankruptcy of Telephone,Navigata, West and a couple of numbered companies, screwups at cryptocurrency mining activities and general malaise.
Mining a disaster for UAMA. Huge fail!
Consider.
On April 5th 2020 Annual Report from UAMA.
They admitted:
1) Huge land-use problems. May have to move Blockdomes and restore land to pure agricultural use defined by land-use authority at substantial cost.
2) Electricity problems with Blockdomes and Cetac, UAMA et al sued power COOP for creditor protection. Short-term fix may result in failure of Blockdomes if they can't pay bills.
3) UAMA not actually a miner. Acts only as tenant for small miners who RENT old processors in Blockdomes. Revenues have plummeted and not clear if UAMA can survive.
4) While focusing on mining may be there only option (remember $47M bankruptcy killed off all telecom operations and failed wireless initiative doesn't leave much). Remember all the BS regarding patent litigation and wild claims of financial gains? Never happened. Same with laughable ANTI-TRUST LITIGATION which Judge just dismissed with prejudice.
5) Now serious comments in 2020 Annual Report about "going concern".
UAMA failing! $13 in trades Friday
What a joke!
UAMA is done!
Cue the music,"This is the End" the Doors.
The 2020 Annual Report confirms my observations and predictions for UAMA.
Complicit posters attacked me, though they're noticeably silent now except to change the subject. Some even suggested paying me a visit and posted pictures of my residence. While they're welcome any time they should be aware Washington is "Open Carry" state so be careful if you ever decide to make good on those threats. Also know you have been identified and have been reported to Whatcom County Sheriff, Washington State Patrol, FBI and the RCMP.
Well if you've read this far, you're interested in UAMA and the news of its decline is likely now near the end of the last chapter.
I now predict that UAMA will fail this year! All the missteps are finally catching up with them and I have reason to believe that Benoit Laliberte will soon be charged in the US for the fraudulent filing in 2019 wherein he claimed as UAMA President, CEO and CFO that he had "No Convictions" in prior ten (10) years, which of course is incorrect as witnessed by AMF convictions in 2009 following their appeal.
If the Florida Court decides in the same manner as SEC vs Brooks he will be removed from his office and banned from holding any future office in a public company. Given his record, I suspect a Judge is likely to impose a stiffer fine as well.
That will be the end of UAMA as there is nobody on staff with the talent to turn this turkey around!
UAMA CEO a lightweight! Needs to GO!
He's incompetent and has never built a business of lasting value. Let that fact set in for a moment. Were he employed by a "real company", with a real Board of Directors, he would have been gone long ago.
There's been no progress under this loser for years.
He likes to revert to law suits to deflect attention from his own failures? Try that in a real business. Any Fortune 100 Company would have dumped him after only a few quarters of his missteps.
Just think:
• patent litigation failed after four (4) years
• $47M bankruptcy "the crowning achievement of Mr. Laliberte" gutted the whole enterprise
• entered wireless through acquisition of market-ready carrier with spectrum licenses and "blew it"
• anti-trust litigation failed
• defamation litigation died but not before Singh LaMarch filed suit against their own client Benoit Laliberte
To any unbiased and objective observer Benoit Laliberte is incompetent and needs to resign. His abysmal track record had brought yet another enterprise to the brink of failure.
UAMA has little time left.
CAVEAT EMPTOR
Deeply troubling UAMA 2020 Annual Report
Released on April 5, 2021 and required reading:
Read and learn:
1) Serious comments re "going concern"
2) Consider write-off of all wireless interests.
3) Admits to need to quit "Anti-Trust Suit against Bitmain, Bitcoin, et al"
4) Advises Cetac, UAMA et al quit mining in early 2020.
5) Divulges "problems with electricity COOP and need to seek creditor protection" affecting miners in Quebec.
6) Admits to continuing land-use problems and disclosure Cetac, UAMA et al may face substantial cost to relocate miners to another location. You will recall Quebec Court issued shut-down order of Blockdomes. Company appealed that order and lost.
7) Lawry Trevor-Deutsch in August 2020 article claimed "Tenants are miners" and Cetac, UAMA et al simply landlord.
8) Need to raise capital which is confirmed by financials.
Raising capital will likely be impossible from institutional sources. No bank or VC is going to lend to a clearly failing enterprise led by what The Canadian Press has tabeled as a convicted criminal.
No future for UAMA with current CEO. It's done! CAVEAT EMPTOR
UAMA News! Huge loss in Court for UAMA!
Bitcoin wins. UAMA suit dismissed with prejudice
UAMA lost vs. Bitmain, Bitcoin et al. DISMISSED WITH PREJUDICE.
Mr. Benoit Laliberte, UAMA CEO sued Bitmain et al and FAILED!
Nearly three (3) years of legal fees and management attention wasted and down the drain!
Judge dismisses UAMA complaint. UAMA loses again!
BITCOIN NEWS
by Jamie Redman
Apr 1, 2021
US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation
A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March 31, 2021.
UAC can try to continue the case by making an appeal to the U.S. Court of Appeals for the Eleventh Circuit within 30 days. McAliley’s order further emphasized that “it would be futile to allow UAC to further attempt to state a claim that Defendants violated the Sherman Act— Accordingly, the court dismisses the complaint with prejudice,” the Miami judge added.