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Never forget UAMA CEO convicted criminal. CP (Canadian Press) 49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
He has been labeled as such by The Canadian Press. You can rest assured it is true as Mr. Benoit Laliberte has not filed suit against this news organization.
Mr. Benoit Laliberte is President, CEO & CFO of UAMA! All three positions held by Mr. Benoit Laliberte who was found guilty on 44 of 48 counts, stock fraud, market manipulation and deceiving investors. What kind of a company has convicted criminal 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
UAMA steeped in mediocrity. CEO is problem!
UAMA says will update vision and plans for future on April 5th.
Wow! I can hardly wait!
Benoit Laliberte is not a good planner or manager. His long list of failed companies is all the proof you need. Failures like Jitec, Inelco, Teliphone, Navigata, Westel, TNW Wireless, TNW Networks, Investel and soon UAMA. Notably Inelco and Telephone delisted following SEC action. We've seen the results of his bloated BS-filled press releases and reports before. Grandiose visions followed by mediocre results.
Notably, Mr. Laliberte or UAMA, Inelco, Teliphone never properly reported his convictions as material information. In fact, in 2019 Mr. Laliberte in his roles as UAMA President, CEO and CFO solely signed off on statement that he had no convictions in past ten (10) years. That's a falsehood and AMF managed, on appeal, to gain a Quebec Court decision finding Mr. Laliberte guilty on another three (3) charges in 2009.
At best expect a grandiose vision of the future with few specifics. Meaningless without a source of expansion capital and Mr. Laliberte's criminal convictions make it impossible to raise capital.
At worst an explanation how they expect results from those same actions that haven't worked for them in the past. You've heard it before and its definition of insanity.
UAMA is steeped in mediocrity and it emanates from the CEO.
Mark calendar. Prepare to be underwhelmed.
UAMA says will update vision and plans for future on April 5th.
Wow! I can hardly wait!
Benoit Laliberte is not a good planner or manager.
At best expect a grandiose vision of the future with few specifics. Meaningless without a source of expansion capital and Mr. Laliberte's criminal convictions make it impossible to raise capital.
At worst an explanation how they expect results from those same actions that haven't worked for them in the past. You've heard it before and its the definition of insanity.
UAMA is steeped in mediocrity and it emanates from the CEO.
Big news! UAMA to post lower 2020 revenues!
Significantly lower revenues due to halt of mining in early 2020.
Mining only source of significant revenue as TNW Wireless had failed.
Expect ISED Canada to revoke cellular spectrum licenses later this year! Failure on UAMA's, TNW Wireless to meet Conditions of Licence.
2020 Revenues will show deep decay!
Write book. UAMA mismanagement as art form!
Could be a winner.
Read how convicted criminal CEO, Benoit Laliberte can't control his ego and mismanages one business after another into mediocrity.
Plenty of color to read about. Like litany of law suits with various outcomes. Written threats to an Officer of the Court. Judge goes on record saying, "breaching contracts seems like business practice".
Document the many business serial business failures, like Jitec, Inelco, Teliphone, Navigata, Westel,TNW Wireless, TNW Networks, etc. etc. All run by Benoit Laliberte and his hand-picked yes men, who could never tell him what a clown he is.
Latest failed anti-trust litigation in US vs Bitmain et al worth mention.
UAMA a colossal failure! Mismanagement the key!
Mr. Benoit Laliberte has never built a business of lasting value.
Everything is BS first and execution last.
iPCS technology was a total bust. No proof of any patent issued by USPO and more to the point, no carrier ever thought enough of it to commit to a trial. Laliberte tried to combine it with cellular spectrum licenses in rural Canada with predictable results. Looked sophomoric and the time and today even more so. Turned TNW Wireless Inc. into the laughing stock of the Canadian wireless industry.
Needless to say TNW Wireless Inc. is dead. No subscribers, no roaming agreements, no working network and no revenue of earnings from wireless. A total and complete failure.
Don't expect an update on TNW Wireless Inc. anytime soon. Most you can expect is a couple of pictures to remind you of the promise of wireless industry with no direct connection to that promise. A total and complete failure for TNW Wireless Inc.
Cryptocurrency mining another colossal failure. At first early results looked promising then shut-down order issued by Quebec Court. Laliberte appealed and lost. Original mining customer (Woodland?) appears to have abandoned the processors in place and cancelled the mining arrangement. Guess they didn't want to be a party to contempt of Court Order.
Now we find out that UAMA et al focused on renting space to miners and ag customers. Likely to stay clear of contempt of Court charges and distance themselves from non-agricultural use of the land.
The upshot of all this is that revenues for 2020 will have been greatly diminished by cessation of direct mining activities.
Expect much lower revenue in 2020 and UAMA transitions to being a simple landlord.
Any upside now dependent on rental/lease income from facilities.
UAMA mining failure. Compare to HUT 8
Compare UAMA to HUT 8 (TSX - HUT)
HUT 8 is Canadian company and knows how to build miners effectively and at low cost. Heck they even managed to do it without violating land use regulations.
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 no pedigree.
Same can be said for UAMA (TNW Wireless) foray into wireless.
UAMA delinquent filer. Expect lower 2020 revenue!
2019 recently reported and still waiting for 2020 results.
According to Lawry Trevor-Deutsch UAMA et al stopped mining in early 2020. Suggested pandemic though maybe more to do with halving and trying to make do with old processors.
Woodland(?) or whoever original mining customer was never fully disclosed in typical UAMA fashion and they apparently abandoned old processors in place. Early 2020 UAMA Press Release made much of windfall and didn't mention cancellation of business arrangement with Woodland (?), though that the bigger news. All this likely as a result of Woodland(?) wanting to side-step and liability arising from continuing to operate miners in contempt of Quebec Court Order to shut-down miners.
New, latest technology mining processors are expensive. Too expensive for UAMA et al to build any scale.
Shut-down of mining will have resulted in deep decline of mining revenue in 2020, the only last source of revenue to this troubled enterprise.
As we've been told by Trevor-Deutsch they are now renting space and facilities to real, actual miners. Also renting facilities to ag customers. If that's the future UAMA et al is simply a landlord. A small landlord at that. No strategic play here now!
So standby. You'll see 2020 Revenues soon! Expect to be underwhelmed!
UAMA quit mining early 2020! Expect lower revenues!
Lawry Trevor-Deutsch said as much. In release he stated UAMA suspended mining operations in early 2020 due to the market.
Impact on revenues likely significant and expect drastically lower revenues for 2020.
Suspect the real story is UAMA transitioned to renting out the miners to other small operators in 2020 and that his the real story here. That kind of change can be expected to gut crypto currency mining revenues in 2020. He mentioned it in August 6, 2020 article and it totally changed the complexion of the cryptocurrency business for UAMA et al. From miner to landlord. A monumental change that will truly impact revenues. Expect a truly significant drop in 2020 revenues.
Can hardly wait to see those numbers.
They'll attempt to blame the pandemic but don't buy it. It just more of the BS that has spewed from this CEO and his cohorts for years!
UAMA CEO, CFO labeled 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 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. 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
Bankruptcy deeply compromised UAMA. Upside gone!
The $47M bankruptcy of Teliphone-Navigata-Westel et al totally gutted the enterprise. Assets all gone along with employees. Nothing left on telecom front and no signs of life.
Hobby-sized cryptocurrency mining now being done by others who simply rent or lease old processors in the sophomoric “Blockdomes”. Apparently also rent facilities to ag customers. So focus now on renting space to real miners and real farmers.
Likely not much UAMA et al can do as they can’t raise expansion capital due to convictions of UAMA CEO.
However, seems like UAMA could have entered broadband space. Entry cost low and market is hot, hot, hot due to remote work and distance learning. Huge missed opportunity but maybe skill sets no longer on staff.
That opportunity still wide open in rural Canada and US.
Can use unlicensed or lightly licensed spectrum and network hardware widely available off-the-shelf. Could be made to happen fast. Business model quickly cash-flow positive and only minimal head-count to operate.
However, seems wireless is dead at UAMA and no progress since 2017.
Labor claim for wages prior to termination.
Guess I’ll have to be satisfied with provisions of breached Employment Agreement which stipulated 24 months salary and benefits, following termination without cause.
Plus costs, damages, etc.
Case expected to go trial later this year!
Bankruptcy redefined UAMA. Upside gone!
The $47M bankruptcy of Teliphone-Navigata-Westel et al totally gutted the enterprise. Assets all gone along with employees. Nothing left on telecom front and no signs of life.
Hobby-sized cryptocurrency mining now being done by others who simply rent or lease old processors in the sophomoric “Blockdomes”. Apparently also rent facilities to ag customers. So focus now on renting space to real miners and real farmers.
Likely not much UAMA et al can do as they can’t raise expansion capital due to convictions of UAMA CEO.
However, seems like UAMA could have entered broadband space. Entry cost low and market is hot, hot, hot due to remote work and distance learning. Huge missed opportunity but maybe skill sets no longer on staff.
That opportunity still wide open in rural Canada and US.
Can use unlicensed or lightly licensed spectrum and network hardware widely available off-the-shelf. Could be made to happen fast. Business model quickly cash-flow positive and only minimal head-count to operate.
However, seems wireless is dead at UAMA and no progress since 2017.
UAMA's wireless initiative is dead!
The CRTC and wireless industry soundly rejected iPCS and the BS strategy to combine cellular and broadband with weak technology.
So bad that UAMA doesn't even talk about it.
Just throw in a picture of someone else's cell site in latest press release.
Total fluff and puffery without any substance.
While cellular dead TNW Wireless could have hopped on exploding wireless broadband revolution in rural Canada. Heck, likely could get a good start in rural Quebec.
But no! Mr. Laliberte asleep at the switch and couldn't even envision how he could quickly get some traction in wireless broadband and begin generating revenues.
Mr.Laliberte's incompetence knows no bounds.
Compare UAMA to HUT 8 (TSX - HUT)
Always good to view competition to see what can be learned.
HUT 8 is Canadian company and knows how to build miners effectively and at low cost. Heck they even managed to do it without violating land use regulations.
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?
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.
UAMA too little, too late and no pedigree.
Same can be said for UAMA (TNW Wireless) foray into wireless.
Mark calendar. Prepare to be underwhelmed.
UAMA says will update vision and plans for future on April 5th.
Wow! I can hardly wait!
Benoit Laliberte is not a good planner or manager.
At best expect a grandiose vision of the future with few specifics. Meaningless without a source of expansion capital and Mr. Laliberte's criminal convictions make it impossible to raise capital.
At worst an explanation how they expect results from those same actions that haven't worked for them in the past. You've heard it before and its definition of insanity.
UAMA is steeped in mediocrity and it emanates from the CEO.
UAMA vision and plan coming on April 5th?
Prepare to be underwhelmed.
Benoit Laliberte is not a good planner or manager.
At best expect a grandiose vision of the future with few specifics. Meaningless without a source of expansion capital and Mr. Laliberte's criminal convictions make it impossible to raise capital.
At worst an explanation how they expect results from those same actions that haven't worked for them in the past. You've heard it before and its definition of insanity.
UAMA is steeped in mediocrity and it emanates from the CEO.
Expect UAMA revenues to crater in 2020 results!
Lawry Trevor-Deutsch said as much. In release he stated UAMA suspended mining operations in early 2020 due to the market.
Impact on revenues likely significant and expect drastically lower revenues for 2020.
Suspect the real story is UAMA transitioned to renting out the miners to other small operators in 2020 and that his the real story here. That kind of change can be expected to gut crypto currency mining revenues in 2020. He mentioned it in August 6, 2020 article and it totally changed the complexion of the cryptocurrency business for UAMA et al. From miner to landlord. A monumental change that will truly impact revenues. Expect a truly significant drop in 2020 revenues.
Can hardly wait to see those numbers.
They'll attempt to blame the pandemic but don't buy it. It just more of the BS that has spewed from this CEO and his cohorts for years!
UAMA wireless could have been $40M success!
Could have been $40-60M in revenue by now with 40-60% EBITDA.
Benoit Laliberte, UAMA CEO killed it through ignorance and mismanagement.
No way to bring it back now as Bell, Rogers and Telus have overbuilt and don't need roaming agreements with TNW Wireless Inc. any longer.
Laliberte killed business by quickly alienating Bell, Rogers and Telus. Such a clown!
Just think $40M+ in revenue vs pathetic crypto mining revenues!
Book good idea. UAMA mismanagement as art form!
Could be a winner.
Read how convicted criminal CEO, Benoit Laliberte can't control his ego and mismanages one business after another into mediocrity.
Plenty of color to read about. Like litany of law suits with various outcomes. Written threats to an Officer of the Court. Colorful language portrays CEOs level of sophistication.
Document the many business serial business failures, like Jitec, Inelco, Teliphone, Navigata, Westel,TNW Wireless, TNW Networks, etc. etc. All run by Benoit Laliberte and his hand-picked yes men, who could never tell him what a clown he is.
Latest failed anti-trust litigation in US vs Bitmain et al worth mention.
Posts seem to have riled cryptotrash!
Oh my!Seems like my posts not appreciated.
Funny, but I thought at least like to see the evidence.
The closer you look, worse UAMA appears.
Serial failures of business after business that complicit posters would have you forget.
Convicted criminal CEO management doesn't want to acknowledge. They never did properly disclose to SEC and shareholders CEOs convictions and his undischarged bankruptcy status for over ten (10) years.
His business failures include Jitec, Inelco, Teliphone, Navigata, Westel, TNW Wireless, TNW Networks, etc.
Never did solve the Quebec Court Order to shut-down miners. It is reasonably believed that UAMA et al stopped mining and decided to lease/rent miners to other actual miners (not all old processing power rented) and we learned that UAMA et al actually renting space to ag users for unknown use. Suspect this changes in business model to side-step the Quebec Court Order and obtain some cover.
Failed to make good on patent litigation. A big zero with no court wins and no license agreements or income. Of course it could be patents worthless!
Anti-trust litigation appears to have died as key counsel resigned in late December 2020.
Management never forthcoming about any of this as it shines a light on their mismanagement and incometence.
TNW Wireless was a decent opportunity that was totally mismanaged by Benoit Laliberte. His ego got in the way and he turned that company into the laughing stock of the Canadian wireless industry. Ask around.
UAMA is quickly running out of options. Wireless dead and no opportunity for comeback. Patent litigation dead in the water. Anti-trust litigation vs Bitmain et al has apparently died. Maybe they can make a go outing of renting out old miner-processors though maybe that short-lived. New more powerful processors now the norm and UAMA doesn't have the capital to upgrade. Maybe ag rentals keep the doors open. Not much left other than to start growing marijuana in the Domes.
See how mediocre UAMA management is!
Compare UAMA to HUT 8 (TSX - HUT)
HUT 8 is Canadian company and knows how to build miners effectively and at low cost. Heck they even managed to do it without violating land use regulations.
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.
UAMA too little, too late and no pedigree.
Same can be said for UAMA (TNW Wireless) foray into wireless.
Very weak UAMA 2020 results coming soon!
Promised on April 5, 2020.
Prepare to be underwhelmed.
UAMA CEO, CFO is 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 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. 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
TNW Wireless Inc. sued by former CEO.
Suit filed in the Supreme Court of British Columbia for breach of employment contract. Suit seeks amounts owed as stipulated in employment contact plus damages.
Served on defendants and replied to with expectation of trial late this year.
Simple, clear violation and breach of employment agreement.
Outcome highly predictable.
UAMA not mining! 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 deceived investors and bankrupt! CP (Canadian Press) 49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
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. 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
TNW Wireless Inc. sued by former CEO.
Suit filed in the Supreme Court of British Columbia for breach of employment contract. Suit seeks amounts owed as stipulated in employment contact plus damages.
Write book. UAMA mismanagement as art form!
Could be a winner.
Read how convicted criminal CEO, Benoit Laliberte can't control his ego and mismanages one business after another into mediocrity.
Plenty of color to read about. Like litany of law suits with various outcomes. Written threats to an Officer of the Court.
Document the many business serial business failures, like Jitec, Inelco, Teliphone, Navigata, Westel,TNW Wireless, TNW Networks, etc. etc. All run by Benoit Laliberte and his hand-picked yes men, who could never tell him what a clown he is.
Latest failed anti-trust litigation in US vs Bitmain et al worth mention.
UAMA wireless could have been huge success!
Could have been $40-60M in revenue by now with 40-60% EBITDA.
Benoit Laliberte, UAMA CEO killed it through ignorance and mismanagement.
No way to bring it back now as Bell, Rogers and Telus have overbuilt and don't need roaming agreements with TNW Wireless Inc.
Just think $40M+ in revenue vs pathetic crypto mining revenues!
UAMA's wireless sub is dead!
The CRTC and wireless industry soundly rejected iPCS and the BS strategy to combine cellular and broadband with weak technology.
So bad that UAMA doesn't even talk about it.
Just throw in a picture of someone else's cell site in latest press release.
Total fluff and puffery without any substance.
Very weak UAMA 2020 results coming soon!
UAMA's wireless game done!
TNW Wireless Inc. sitting on an inoperative 3G network. No subscribers, no roaming agreements and no revenue or earnings.
Silly and ill-advised iPCS was a colossal failure. Technology never proven and never even got to a proof-of-concept trial with any carrier in the world. It never got support from the carriers or the CRTC.
Was iPCS ever granted a patent by the USPO? Still claims patent pending on Introduction to this Board.
Still have mental picture of Benoit Laliberte and Lawry Trevor-Deutsch presenting before the CRTC. It was pitiful and pathetic with predictable results.
Apparently, nobody told Mr. Laliberte that the broadband and cellular would eventually be closely connected through standardized 4G LTE with all of its performance and security.
UAMA's mining game done!
Land-use debacle a bone-headed move and that sent Woodland packing. They likely breathed a sigh of relief when they terminated the arrangement with UAMA et al and abandoned the processors in place giving UAMA a small if temporary gain.
Halving a big part of what killed UAMA's revenue stream from mining. Read somewhere that halving increased difficulty to mine by 140%.
Guessing that UAMA et al decided to become a landlord to miners and ag customers to sidestep the Quebec Court Order to shut-down the miners. UAMA likely had no choice as they lost the appeal. Arms length relationship with third-party miners likely provides a safe harbor. Leasing or renting space or facilities to ag users likewise may provide some cover.
While that may be all good it means UAMA not a miner any longer and just a landlord. UAMA and complicit posters won't be able to try and associate price of Bitcoin to UAMA's upside.
So UAMA 2020 revenue numbers will be out in a few days and expect the to be much smaller than 2019. Oh, they'll claim they shut down for Covid etc but nevertheless the numbers will be much smaller.
Compare UAMA to HUT 8 (TSX - HUT)
HUT 8 is Canadian company and knows how to build miners effectively and at low cost. Heck they even managed to do it without violating land use regulations.
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?
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.
UAMA too little, too late and no pedigree.
Same can be said for UAMA (TNW Wireless) foray into wireless.
UAMA miners! Too little too late! Landlord now!
It seems clear Woodland ended the arrangement with UAMA et al and abandoned the processors in place. Think maybe they did that to avoid any liability due to Quebec Court shut-down order. Laliberte had appealed that but lost so safe to assume miners at the time were operating in contempt of Court. The windfall of the old processors was the big announcement in early 2020 as suddenly owned a bunch of old processors. UAMA has hardly any employees and chose to exit direct cryptocurrency mining in favor of renting facilities to other small miners.
Looking at other miners in Quebec and Canada certainly exposes how small and insignificant UAMA Blockdomes really are. There are some significant players who even grew in 2020. Their winning formulas pretty easy to understand. Get cheap power, cheap warehouse or housing for processors and get as many operational as quickly as you can.
The "green pitch" of Blockdomes hasn't attracted much interest. No major miner has bought into savings. They're only interested on mining as much coin as possible as quick as they can. UAMA touts 8-10 MW and others well above 100 MW, so they are much bigger and well established. It's not clear if Blockdomes does much more than make a few global warming advocates feel good!
While complicit posters may rant about UAMA mining operations. Lawry Trevor-Deutsch made if pretty clear in his interview with Coingeek that UAMA was renting mining space and agricultural space. That approach may offer a safe harbour from the Court order.
In the 2020 financials expected in a couple of days you can expect much lower revenues. UAMA will explain that due to Covid-19 though likely switch from direct mining to just acting as landlord and renting processors and facilities to miners and ag customers. Huge difference in revenue from that kind of change to business model and UAMA (and complicit posters) won't be able to suggest a link between UAMA market cap and Bitcoin price.
There's nothing surprising in all of this. Benoit Laliberte and his team are specialists in mediocrity and have the history and track record to prove it. These clowns killed Inelco, Teliphone, Navigata, Westel, TNW Networks, and TNW Wireless. They have never built a business of lasting value.
Take off followed by crash & burn. Mismanagement culprit!
Maybe cryptotrash should look at successul miners!
None of the leading miners lost money 2020!