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UAMA incompetence! Read 2020 Annual Report
UAMA is in dire straights! CAVEAT EMPTOR
You'll learn about unresolved problem after unresolved problem. Like the movie, "The Gang that Couldn't Shoot Straight".
Let's start with AMF (Quebec) Cease Trade Order. Somehow it seems like this may be slowing removal of the "skull & crossbones", though maybe that is good to protect the public.
Read about the electrical power problems at the Blockdomes. UAMA, Cetac et al suing the power Coop in Quebec. You can likely add that to the long list of court losses managed by Benoit Laliberte.
Take the time to read about the land-use problems affecting the Blockdomes. Lost in Court, lost appeal and denied judicial review. UAMA it admits it will face high costs to move the Blockdomes and restore the land to the designated agricultural use. How did it happen? Arrogant leadership of Benoit Laliberte, who never thought to ensure that all proper approvals in place before construction. Incompetence in action.
Read about the the $47M bankruptcy of Telephone-Navigata-Westel along with a couple of numbered entities. The bankruptcy effectively "gutted" the businesses of all assets which were sold. Employee and talent base followed the assets. Bankruptcy is still before the Supreme Court of BC and it is possible Mr. Laliberte, UAMA President, CEO and CFO may face charges for threatening (in writing) an Officer of the Court. Further there's apparently over $1M in employee withholding taxes that were never remitted to the CRA.
Read about how TWN Wireless Inc. failed to launch under Benoit Laliberte. Investel (UAMA et al) purchase RuralCom as a market-ready business with an accomplished CEO in place who had access to capital to build out and expand the network. Laliberte thought he had a better idea. Fired the CEO and did an end-run on sources of capital. Nice try, those investors had no confidence that Laliberte knew the wireless business and were likely troubled by his 44 convictions for stock fraud, market manipulation and deceiving investors, so they walked. In the end TNW Wireless failed to launch and as you will note in 2020 Annual Report on Page 12 they may have to write-down a portion or all of that investment. It's likely the latter.
Read how UAMA is abandoning the Anti-trust Litigation vs. Bitmain et al. Key counsel quit the case at the end of December 2020. Just another example of how UAMA et al wastes time and treasure on dead-end legal initiatives they know they can't win.
Patent litigation all same. Been underway for over 4 years and zero results. No licencing agreements and no wins in Court. Another big fail for Benoit Laliberte and UAMA et al.
To find 2020 Annual Report:
Go to "OTC Markets - UAMA"
Click on "Company Profile" at top of page
Scroll down to "Latest Report".
Click on 12/31/2020 Annual Report.
If you have any business experience at all you'll quickly see how messed up the business affairs of UAMA really are.
The outlook for UAMA based on the 2020 Annual Report are BLEAK!
UAMA is in dire straights! Bleak outlook!
The 2020 Annual Report is a must read. Read it all.
You'll learn about unresolved problem after unresolved problem. Like the movie, "The Gang that Couldn't Shoot Straight".
Let's start with AMF (Quebec) Cease Trade Order. Somehow it seems like this may be slowing removal of the "skull & crossbones", though maybe that is good to protect the public.
Read about the electrical power problems at the Blockdomes.
Take the time to read about the land-use problems affecting the Blockdomes. Lost in Court, lost appeal and denied judicial review. UAMA it admits it will face high costs to move the Blockdomes and restore the land to the designated agricultural use. How did it happen? Arrogant leadership of Benoit Laliberte, who never thought to ensure that all proper approvals in place before construction. Incompetence in action.
Read about the the $47M bankruptcy of Telephone-Navigata-Westel along with a couple of numbered entities. The bankruptcy effectively "gutted" the businesses of all assets which were sold. Employee and talent base followed the assets. Bankruptcy is still before the Supreme Court of BC and it is possible Mr. Laliberte, UAMA President, CEO and CFO may face charges for threatening (in writing) an Officer of the Court. Further there's apparently over $1M in employee withholding taxes that were never remitted to the CRA.
Read about how TWN Wireless Inc. failed to launch under Benoit Laliberte. Investel (UAMA et al) purchase RuralCom as a market-ready business with an accomplished CEO in place who had access to capital to build out and expand the network. Laliberte thought he had a better idea. Fired the CEO and did an end-run on sources of capital. Nice try, those investors had no confidence that Laliberte knew the wireless business and were likely troubled by his 44 convictions for stock fraud, market manipulation and deceiving investors, so they walked. In the end TNW Wireless failed to launch and as you will note in 2020 Annual Report they may have to write-down a portion or all of that investment. It's likely the latter.
Read how UAMA is abandoning the Anti-trust Litigation vs. Bitmain et al. Key counsel quit the case at the end of December 2020. Just another example of how UAMA et al wastes time and treasure on dead-end legal initiatives they know they can't win.
Patent litigation all same. Been underway for over 4 years and zero results. No licencing agreements and no wins in Court.
To find 2020 Annual Report:
Go to "OTC Markets - UAMA"
Click on "Company Profile" at top of page
Scroll down to "Latest Report".
Click on 12/31/2020 Annual Report.
If you have any business experience at all you'll quickly see how messed up the business affairs of UAMA really are.
The outlook for UAMA based on the 2020 Annual Report are BLEAK!
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 where 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. 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.
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.
Flag up! OTC Markets warning "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 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 CEO? 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?"
Caveat Emptor - CAVEAT EMPTOR - see OTC Markets - UAMA
Lack of working capital will kill UAMA!
Read every word of the 2020 Annual Report to understand how UAMA is facing a very real working capital crisis.
Look closely at the financials.
Operating expenses are too low to be believable. While not unusual for CEO and/or other officers to defer compensation, the OPEX with UAMA is highly suspect. As if no paid employees at all unless they are working part-time and working very few hours. While that's admirable in a startup, UAMA supposedly past that stage. They've spent generously on funding patent and anti-trust litigation and even defamation suits. Predictably they've all gone nowhere. So they waste time and money on initiatives that are directly related to building a healthy and profitable enterprise.
At the core of UAMA's current "challenges" is a very serious lack of working capital. Maybe add to that the lack of a simple, and fully stated management plan to bring back this business. Benoit Laliberte has always been short of specifics. He expects that his ego will carry the game. Sadly, with each passing day and every new screwup we learn that he is unfit to be UAMA President, CEO and CFO.
Mr. Benoit Laliberte has been labeled a convicted criminal by The Canadian Press. The evidence has been posted many times on this Board and he was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors. As such he can't raise institutional capital from banks or other traditional sources.
And that......the lack of access to working capital has now brought UAMA to near extinction. Save replacing the CEO there's no upside at all for UAMA.
UAMA has working capital CRISIS!
Read every word of the 2020 Annual Report to understand how UAMA is facing a very real working capital crisis.
Look closely at the financials.
Operating expenses are too low to be believable. While not unusual for CEO and/or other officers to defer compensation, the OPEX with UAMA is highly suspect. As if no paid employees at all unless they are working part-time and working very few hours. While that's admirable in a startup, UAMA supposedly past that stage. They've spent generously on funding patent and anti-trust litigation and even defamation suits. Predictably they've all gone nowhere. So they waste time and money on initiatives that are directly related to building a healthy and profitable enterprise.
At the core of UAMA's current "challenges" is a very serious lack of working capital. Maybe add to that the lack of a simple, and fully stated management plan to bring back this business. Benoit Laliberte has always been short of specifics. He expects that his ego will carry the game. Sadly, with each passing day and every new screwup we learn that he is unfit to be UAMA President, CEO and CFO.
Mr. Benoit Laliberte has been labeled a convicted criminal by The Canadian Press. The evidence has been posted many times on this Board and he was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors. As such he can't raise institutional capital from banks or other traditional sources.
And that......the lack of access to working capital has now brought UAMA to near extinction. Save replacing the CEO there's no upside at all for UAMA.
UAMA is in dire straights! CAVEAT EMPTOR
The 2020 Annual Report is a must read. Read it all.
You'll learn about unresolved problem after unresolved problem. Like the movie, "The Gang that Couldn't Shoot Straight".
Let's start with AMF (Quebec) Cease Trade Order. Somehow it seems like this may be slowing removal of the "skull & crossbones", though maybe that is good to protect the public.
Read about the electrical power problems at the Blockdomes.
Take the time to read about the land-use problems affecting the Blockdomes. Lost in Court, lost appeal and denied judicial review. UAMA it admits it will face high costs to move the Blockdomes and restore the land to the designated agricultural use. How did it happen? Arrogant leadership of Benoit Laliberte, who never thought to ensure that all proper approvals in place before construction. Incompetence in action.
Read about the the $47M bankruptcy of Telephone-Navigata-Westel along with a couple of numbered entities. The bankruptcy effectively "gutted" the businesses of all assets which were sold. Employee and talent base followed the assets. Bankruptcy is still before the Supreme Court of BC and it is possible Mr. Laliberte, UAMA President, CEO and CFO may face charges for threatening (in writing) an Officer of the Court. Further there's apparently over $1M in employee withholding taxes that were never remitted to the CRA.
Read about how TWN Wireless Inc. failed to launch under Benoit Laliberte. Investel (UAMA et al) purchase RuralCom as a market-ready business with an accomplished CEO in place who had access to capital to build out and expand the network. Laliberte thought he had a better idea. Fired the CEO and did an end-run on sources of capital. Nice try, those investors had no confidence that Laliberte knew the wireless business and were likely troubled by his 44 convictions for stock fraud, market manipulation and deceiving investors, so they walked. In the end TNW Wireless failed to launch and as you will note in 2020 Annual Report they may have to write-down a portion or all of that investment. It's likely the latter.
Read how UAMA is abandoning the Anti-trust Litigation vs. Bitmain et al. Key counsel quit the case at the end of December 2020. Just another example of how UAMA et al wastes time and treasure on dead-end legal initiatives they know they can't win.
Patent litigation all same. Been underway for over 4 years and zero results. No licencing agreements and no wins in Court.
To find 2020 Annual Report:
Go to "OTC Markets - UAMA"
Click on "Company Profile" at top of page
Scroll down to "Latest Report".
Click on 12/31/2020 Annual Report.
If you have any business experience at all you'll quickly see how messed up the business affairs of UAMA really are.
The outlook for UAMA based on the 2020 Annual Report are BLEAK!
OTC Markets says 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.
Flag still up! Says "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 - deeply troubled enterprise.CAVEAT EMPTOR
The 2020 Annual Report is a must read. Read it all.
You'll learn about unresolved problem after unresolved problem. Like the movie, "The Gang that Couldn't Shoot Straight".
Let's start with AMF (Quebec) Cease Trade Order. Somehow it seems like this may be slowing removal of the "skull & crossbones", though maybe that is good to protect the public.
Read about the electrical power problems at the Blockdomes.
Take the time to read about the land-use problems affecting the Blockdomes. Lost in Court, lost appeal and denied judicial review. UAMA it admits it will face high costs to move the Blockdomes and restore the land to the designated agricultural use. How did it happen? Arrogant leadership of Benoit Laliberte, who never thought to ensure that all proper approvals in place before construction. Incompetence in action.
Read about the the $47M bankruptcy of Telephone-Navigata-Westel along with a couple of numbered entities. The bankruptcy effectively "gutted" the businesses of all assets which were sold. Employee and talent base followed the assets. Bankruptcy is still before the Supreme Court of BC and it is possible Mr. Laliberte, UAMA President, CEO and CFO may face charges for threatening (in writing) an Officer of the Court. Further there's apparently over $1M in employee withholding taxes that were never remitted to the CRA.
Read about how TWN Wireless Inc. failed to launch under Benoit Laliberte. Investel (UAMA et al) purchase RuralCom as a market-ready business with an accomplished CEO in place who had access to capital to build out and expand the network. Laliberte thought he had a better idea. Fired the CEO and did an end-run on sources of capital. Nice try, those investors had no confidence that Laliberte knew the wireless business and were likely troubled by his 44 convictions for stock fraud, market manipulation and deceiving investors, so they walked. In the end TNW Wireless failed to launch and as you will note in 2020 Annual Report they may have to write-down a portion or all of that investment. It's likely the latter.
Read how UAMA is abandoning the Anti-trust Litigation vs. Bitmain et al. Key counsel quit the case at the end of December 2020. Just another example of how UAMA et al wastes time and treasure on dead-end legal initiatives they know they can't win.
Patent litigation all same. Been underway for over 4 years and zero results. No licencing agreements and no wins in Court.
To find 2020 Annual Report:
Go to "OTC Markets - UAMA"
Click on "Company Profile" at top of page
Scroll down to "Latest Report".
Click on 12/31/2020 Annual Report.
If you have any business experience at all you'll quickly see how messed up the business affairs of UAMA really are.
The outlook for UAMA based on the 2020 Annual Report are BLEAK!
Funny! Not hearing cheers from complicit posters!
Guess they read confirmation of most of what I've been saying since 2019.
UAMA now obviously an enterprise struggling to survive.
If they hadn't made so many missteps that might be a possibility.
However, the track record and continued litany of missteps by management are defining for UAMA.
I don't believe that Benoit Laliberte has the talent or ability to save this business. His convictions make it difficult to raise expansion capital and it seems clear there is no working capital.
UAMA is on life-support!
2020 UAMA financial report not a pretty picture.
Complicit posters and other who buy all the empty promises and fraud that are a permanent fixture around UAMA should read the Notes to the financial report for 2020.
It reads like chapters from "The Gang that couldn't Shoot Straight". Misstep after misstep is the narrative in the notes.
Notably cryptocurrency operations plagued by land-use violations and now we read about complications with the electricity supply.
Look closely and you'll find references to potential write-downs for TNW Wireless and old assets from the $47M bankruptcy filed November 2016 and still before the Supreme Court of BC.
It is still believed that Benoit Laliberte may find himself facing charges for threatening an officer of the Court in writing and the not so small problem of employee withholdings never remitted to the CRA.
Numbers suggest no working capital as no sign of salaries being paid workers if indeed there are any left!
Remember, at UAMA "the illusion of progress is our most important product".
UAMA "going concern" considerations! Raise capital?
Here's the quote directly from the 2020 Financial Report & Notes:
[I]"The Company plans to raise additional capital to carry out its business plan. Although the Company has been successful in raising sufficient financing in the past to meet its cash requirements though equity and debt, the Company’s ability to raise additional capital through future equity and debt securities issuances is unknown. Obtaining additional financing, the successful development of the Company’s contemplated plan of operations, ultimately, to profitable operations are necessary for the Company to continue operations"[/I]
Unknown?
Well here's a guess. Probabilities to raise capital from banks or financial institutions practically nil. These institutions are oddly reticent to lend to businesses by a CEO who was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors. What a surprise!
UAMA struggles to pay for electricity!
Signs of distress all over UAMA and yet material information in short supply.
Here's a quote from 2020 Financials that will get your attention:
"As a result or this and coupled with low cryptocurrency prices, on March 11, 2020 9688 filed for creditor protection to prevent the COOP from disconnecting service. The resulting protection order allowed 9688 to maintain operations on the basis of weekly prepayment of electrical services."
Here we go again! Shows UAMA et al's troubles just below the surface and all over this enterprise.
UAMA not a miner says 2020 Financials!
Here ya go! All you complicit posters and naysayers!
Read and weep!
This an undoctored excerpt from 2020 Financials:
"The market for underlying currencies in blockchain operations is volatile and while the Company did not mine up to February 12, 2020, hold or transact in any of these virtual currencies, its clients’ profitability is dependent on the respective virtual currency markets."
So there ya go! Never made clear and finally we learn from reading the fine print that UAMA not a true cryptocurrency miner.
That makes them simply a landlord renting space, sophomoric Blockdomes to those small entities that actually mine. Where's the upside doing that!
It's becoming clear UAMA really is still a fraud.
UAMA 2020 results-Mediocrity marches on!
UAMA post lower revenues and net loss overcome only by one-time gain from Woodland"s abandonment of old miners.
Excuse after excuse about patents, litigation, a failed wireless initiative, compromised cryptocurrency mining, Quebec cease trade order and even anti-trust litigation which UAMA has now abandoned.
All-in-all a pretty miserable report card even when best efforts attempted to minimize the decay.
There's no upside for UAMA.
UAMA 2021 Financials & Notes show deep decay!
The level of fraud and BS surrounding UAMA just never ends.
Funny to read about all the missteps:
1) Wireless on hold to focus on cryptocurrency mining. No clear statement of mining as principle or landlord to real miners or consultant providing services to miners.
2) We're told "wireless on hold" while we focus on cryptocurrency mining. What a crock of BS! TNW Wireless Inc. has totally failed. No working network and likely just a matter of time before ISED Canada revokes the spectrum licenses.
3) Funny to read about land-use calamity. What a total screw-up! Who builds on property without clear approvals? Stupid people is who and UAMA management can take full credit.
4) Anti-trust litigation is over and done! Key counsel resigned UAMA complaint at end of December 2020. That's material information and should have been disclosed as such but not with UAMA. Cover it up!
5) Patent litigation similarly decayed and going nowhere.
6) Cease Trade Order a problem in Quebec as covers other jurisdictions in Canada as well. Claiming that AMF doesn't have any jurisdiction over them though tough to do once Cease Trade Order in place.
All of this is typical Benoit Laliberte. You'll recall he screwed up Jitec and became recipient of 44 convictions for stock fraud, market manipulation and deceiving investors. Let's talk about deceiving investors as it seems like the latest Financials and Notes for 2020 continue the proud tradition of treating shareholders like mushrooms. You've heard it before. Keep them in the dark and feed them horse manure!
The 2020 Financials and Notes send some clear messages:
a)UAMA revenues and earnings in 2020 for cryptocurrency mining have dropped to new lows. Other big Canadian miners saw their revenues drop as well in 2020 though only to about 50% of 2019 levels. UAMA's revenues, by contrast, in 2020 decimated. Expect these new numbers to be the norm!
b) Funny to read about Blockdomes patent application. I particularly liked the "needs re-filing"comment. What a joke! Maybe Benoit forgot that ideas or intellectual property need to be "non-obvious". All same the BS server cabinets. Went looking for those on market as I recalled seeing commercial products available off-the-shelf. Sure enough you can buy from several sources. Just more of the BS that Benoit likes to peddle. Consider it a pathetic attempt to deceive investors. Remember with UAMA et al its "the illusion of progress" that counts. Not actual progress.
c) UAMA's wireless business has totally failed and they are now mentioning a write-off. A write-off by the management team that claimed to be highly talented and knowledgeable about everything related to telecom. Well guess again! Benoit Laliberte took a market-ready business with committed financial support and totally screwed it up!
d) Management has through their clear demonstration proven that they are grossly incompetent. Read through the 2020 Financials & Notes and pay attention to each and every subject. Mediocrity is the best they can claim for their performance.
e) No clear management vision for the future is presented. Maybe they'll say they didn't have enough time though last real reports were for 3Q-2019 so we know that is BS.
Simply stated the 2020 Financials & Notes clearly indicate NO UPSIDE for UAMA!
Funny! VWAP lower on news!
Mediocrity is UAMA future!
Today's Press Release says it all one way to the other:
• Management has no dynamic vision for the future and not even mentioned
• TNW Wireless is dead and not even mentioned
• Lower mining (or is it renting miners) is new normal, mediocrity in action
• UAMA acknowledges need for newer mining processors (where will the capital come from?)
• UAMA lost money on operations in 2020 (masked by one-time gain from abandoned miners)
• "halving" has put pressure on old processors and likely unprofitable unless replaced.
Expect operations to be depressed throughout 2021 and with no mention of management's vision or plans for the future expect "mediocrity".
Mediocrity is future for UAMA!
Today's Press Release says it all one way to the other:
• Management has no dynamic vision for the future and not even mentioned
• TNW Wireless is dead and not even mentioned
• Lower mining (or is it renting miners) is new normal, mediocrity in action
• UAMA acknowledges need for newer mining processors (where will the capital come from?)
• UAMA lost money on operations in 2020 (masked by one-time gain from abandoned miners)
• "halving" has put pressure on old processors and likely unprofitable unless replaced.
Expect operations to be depressed throughout 2021 and with no mention of management's vision or plans for the future expect "mediocrity".
Laliberte, UAMA CEO says he is "hangry". Ouch!
Read it in last paragraph of his threatening e-mail to Mike Bell at E & Y dated May 15th 2019.
"Your only remaining chance is that I do not dislike and like you otherwise you would not be in a very good place now. I am hangry."
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
True character of UAMA CEO revealed!
"E & Y is fu___d" written by UAMA CEO"
UAMA CEO character on public display! Disgusting!
E & Y is Ernst & Young!
Character and demeanor of UAMA CEO on full display here.
"E &Y is f _ _ _ _d if you confront me one more time" is title of e-mail sent by Benoit Laliberte to an Officer of the Court. (poster has edited to remove vulgarity documentary evidence in link not edited!)
This is a direct quote from a May 19, 2019 e-mail entered into evidence via Affidavit in the continued CCAA Proceedings in the Supreme Court of BC. Click on the link to read the real language that UAMA CEO used to threaten an Officer of the Court. Uncensored so you can access the truth!
Here is the link to the official Affidavit filed before the Supreme Court of BC:
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
This speaks volumes to the character, ethics and business practices of Mr. Benoit Laliberte, UAMA President, CEO and CFO.
OTC Markets labels UAMA "Dark or Defunct"
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.
OTC Markets still had flag up! Caveat Emptor!
Seems UAMA has abandoned wireless industry!
No mention of wireless in latest release. No comment on past, present or future so guess management just wants you to forget it.
It was another colossal failure and no shortage of failures around Benoit Laliberte. Just like Jitec, Inelco,Teliphone, Navigata, Westel, TNW Networks, etc. etc. TNW Wireless just another in a long list of failures for Benoit and his management team.
Where's UAMA vision for the future!
It nowhere to be found. Likely because there is no vision.
Only thing found is they want to update old processors. Where will they get the capital to do that?
The impact of $47M bankruptcy of Teliphone-Navigata-Westel still being felt and still before the Supreme Court of BC. No mention of that though, even if there may be fallout. Court has already ordered sale of all assets and they have been gone along with nearly all the employees since 2018.
So no vision for wireless and safe to assume UAMA they have abandoned that as a line of business.
A real miner is focused on RESULTS!
Compare UAMA to HUT 8 (TSX - HUT)
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".
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.
Same can be said for UAMA (TNW Wireless) foray into wireless.
UAMA should have announced "Wireless dead"
No mention at all about wireless.
No revenues, no earnings and absolutely no progress.
No signs network is even operational since 2018. Someone should give ISED a "heads-up"
Still have vision of Messrs. Laliberte and Trevor-Deutsch making ill-fated presentation in front of the CRTC. Their pathetic presentation and message seemed lost on them, though pretty evident to those in the wireless industry. They managed to make TNW Wireless Inc. the laughing stock of the Canadian wireless industry.
iPCS turned out to be nothing but ego-fodder for Mr. Laliberte. Those in the industry quickly came to understand that it wasn't going to be successful. iPCS was and is truly worthless. No proof-of-concept ever built and they couldn't find one carrier anywhere in the world who was willing to trial it. That's nature's way of telling you the technology is worthless.
So safe to assume wireless revenue is $0.00 as in ZERO!
Wireless totally "dead" in UAMA portfolio.
Terrible UAMA performance in 2020. Results to prove it.
Started the year with cancellation of mining arrangement with Woodland, though they didn't release that as "material information". Chose to focus on one-time gain of abandonment-in-place of outdated miners that aren't up to the job since "halving". Without the $1.4M one-time gain from the "free old hardware" earnings would be solidly negative.
Didn't see anything about wireless and that's typical from these fraudsters when they are trying to bury their mistakes and blunders. Safe to assume TNW Wireless is too dead to mention. Likely just a matter of time before ISED Canada revokes their cellular spectrum licenses. For the record they are ignoring hot broadband market in rural Canada and US. NO revenue, no earnings from wireless and could have been quickest and biggest upside generating $40-60M in revenue and 40-60% EBITDA by now if they had built on marke-ready RuralCom. Wireless a total and complete failure.
Add patent litigation to the failed initiatives.
Ditto Anti-trust litigation against Bitmain et al.
So mining or renting miners and renting to ag customers is now the only game in town for UAMA.
To understand how insignificant UAMA is compare to HUT 8 another Canadian miners who knows how to mine efficiently.
True character of UAMA CEO revealed!
"E & Y is fu___d" written by UAMA CEO"
UAMA CEO character on public display! Disgusting!
E & Y is Ernst & Young!
Character and demeanor of UAMA CEO on full display here.
"E &Y is f _ _ _ _d if you confront me one more time" is title of e-mail sent by Benoit Laliberte to an Officer of the Court.
This is a direct quote from a May 19, 2019 e-mail entered into evidence via Affidavit in the continued CCAA Proceedings in the Supreme Court of BC. Click on the link to read the real language that UAMA CEO used to threaten an Officer of the Court. Uncensored so you can access the truth!
Here is the link to the official Affidavit filed before the Supreme Court of BC:
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
This speaks volumes to the character, ethics and business practices of Mr. Benoit Laliberte, UAMA President, CEO and CFO.
Benoit Laliberte says he is "hangry". Ouch!
Read it in last paragraph of his threatening e-mail to Mike Bell at E & Y dated May 15th 2019.
"Your only remaining chance is that I do not dislike and like you otherwise you would not be in a very good place now. I am hangry."
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
Read this before April 5th release! Disgusting!
"E & Y is fu___d" written by UAMA CEO"
UAMA CEO character on public display! Disgusting!
E & Y is Ernst & Young!
Character and demeanor of UAMA CEO on full display here.
"E &Y is f _ _ _ _d if you confront me one more time" is title of e-mail sent by Benoit Laliberte to an Officer of the Court.
This is a direct quote from a May 19, 2019 e-mail entered into evidence via Affidavit in the continued CCAA Proceedings in the Supreme Court of BC. Click on the link to read the real language that UAMA CEO used to threaten an Officer of the Court. Uncensored so you can access the truth!
Here is the link to the official Affidavit filed before the Supreme Court of BC:
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
This speaks volumes to the character, ethics and business practices of Mr. Benoit Laliberte, UAMA President, CEO and CFO.
UAMA CEO's lack of sophistication on full display.
"E & Y is fu___d" written by UAMA CEO"
UAMA CEO character on public display! Disgusting!
E & Y is Ernst & Young!
Character and demeanor of UAMA CEO on full display here.
"E &Y is f _ _ _ _d if you confront me one more time" is title of e-mail sent by Benoit Laliberte to an Officer of the Court.
This is a direct quote from a May 19, 2019 e-mail entered into evidence via Affidavit in the continued CCAA Proceedings in the Supreme Court of BC. Click on the link to read the real language that UAMA CEO used to threaten an Officer of the Court. Uncensored so you can access the truth!
Here is the link to the official Affidavit filed before the Supreme Court of BC:
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
This speaks volumes to the character, ethics and business practices of Mr. Benoit Laliberte, UAMA President, CEO and CFO.
UAMA CEO's character on full display.
"E & Y is fu___d" written by UAMA CEO"
UAMA CEO character on public display! Disgusting!
E & Y is Ernst & Young!
Character and demeanor of UAMA CEO on full display here.
"E &Y is f _ _ _ _d if you confront me one more time" is title of e-mail sent by Benoit Laliberte to an Officer of the Court.
This is a direct quote from a May 19, 2019 e-mail entered into evidence via Affidavit in the continued CCAA Proceedings in the Supreme Court of BC. Click on the link to read the real language that UAMA CEO used to threaten an Officer of the Court. Uncensored so you can access the truth!
Here is the link to the official Affidavit filed before the Supreme Court of BC:
https://documentcentre.eycan.com/EYCMLibrary/8640025%20Canada%20Inc%20(dba%20Telephone%20Navigata-Westel%20Communication)%20&%20Telephone%20Data%20Centers%20Inc/English/Motion%20Materials/Affidavits/Affidavit%201%20of%20Phoebe%20Fasihi,%20sworn%20on%20Aug%208,%202019%20.PDF
This speaks volumes to the character, ethics and business practices of Mr. Benoit Laliberte, UAMA President, CEO and CFO.
A real miner is focused on RESULTS!
Compare UAMA to HUT 8 (TSX - HUT)
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".
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.
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.
Same can be said for UAMA (TNW Wireless) foray into wireless.
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."
Clear admission that UAMA et al just a simple LANDLORD!
UAMA CEO, CFO is 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 CEO? 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?"
Caveat Emptor - CAVEAT EMPTOR
AMF cease trade order, OTC skull & crossbones
AMF placed Cease Trade Order which affects a number of Canadian Provinces.
OTC Markets still has UAMA labeled as "Dark or Defunct". Quote below off OTC Markets UAMA listing:
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.