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Clarity on UAMA BS, Not miners! Landlord!
Suck it up complicit posters cat's out of the bag. UAMA has apparently given up on mining and now wants to be a landlord, though hasn't quite rented out all the old processors.
The impact of all this will be a drastic decay of revenues claimed for 2019 earlier today.
Oh, they'll claim it is because of the pandemic but that's just patently untrue. Look at other "real" Quebec and Canadian miners who had record years. So just more BS from the masters of BS and hiding the truth.
For the next few weeks, CoinGeek producer Natalie Mason is introducing her own Top Picks from CoinGeek Conversations, giving us another chance to enjoy previous episodes of the podcast series.
Natalie’s first choice is Lawry Trevor-Deutsch, talking about Blockchain Domes, a business he is developing 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.
"Patents pending"? Please UAMA, Investel et al constantly telling us that when in fact they have never updated the status of patents. Why not I wonder. Likely because most like the worthless iPCS were quickly dismissed by the USPO. Fact is patents don't typically take years and years to get approved. Safe to assume most were never patented.
Saga of mismanagement and missed opportunties!
From fraudulent claims, continued listing of long-departed officers, and purely fraudulent filings there's a real need to clean up the mess that is UAMA.
If you can get past the fact that Mr. Benoit Laliberte has been labeled a convicted criminal by the The Canadian Press, and the fact he has been personally an undischarged bankrupt for over ten (10) years, then maybe focus on facts about the business:
• A Quebec Court ordered shut-down of Blockdomes due to land-use violations. Company appealed and lost. On August 6, 2020 Mr. Lawry Trevor-Deutsch stated in article that mining facilities now only rented to other third-party miners. Maybe a way to skirt Court Order? Doesn't matter though as Blockdomes not even on list of crypto-currency miners in Quebec. UAMA's operations are just that small and inconsequential, even on the Canadian scene. Far cry from the BS press release back in 3Q-2019 that envisioned large-scale mining campus. Never happened as major Canadian players in Quebec and Canada left UAMA et al in the dust.
• TNW Wireless Inc. has totally failed. No evidence cellular network is still operational and no roaming agreements with any other carrier are registered. While Sandeep Panesar the named CEO of TNW Wireless Inc. still listed in the Introduction to this site, he left sometime in late 2018. Continuing to list him is a falsehood. Same with a couple of other non-officer employees.
• TNW Wireless Inc. had all the pieces to make that business a success back in early 2017. Record will show RuralCom Corp CEO had brought business to market ready status with key roaming agreements in place with AT&T, Verizon, T-Mobile and Sprint and negotiations underway with Bell. RuralCom CEO had committed investors who also believed that business could be quickly grown to $40-60M revenue with 40-60% EBITDA operating as a wholesale wireless cellular carrier in rural Canada. Benoit Laliberte had other ideas, fired the RuralCom CEO, and made an end-run to at least one of the documented investors. Apparently, they met and he was quickly shown to the door! RuralCom, later TNW Wireless is the biggest missed opportunity and leadership screwup of recent years. It would have been a great value builder for UAMA and the company and stock value would be far greater today if that acquisition by Investel had been properly managed by something other than the ego of Benoit Laliberte. Apparently he doesn't accept that he knows nothing about the wireless industry!
• Bankruptcy ($47M) of Teliphone-Navigata-Westel is still open in Supreme Court of BC though that Court had approved sale of assets back in 2018 which literally "gutted" UAMA, Investel, et al. Asset base sold and employees all followed the assets to Distributel. Benoit Laliberte, UAMA CEO threatened an Officer of the Court (in writing) and it remains to be seen if this will bring criminal charges. CRA claims employee withholding payments were not remitted to the CRA in the amount of over $1M and that could also bring charges against management.
• Much effort was placed on patent litigation focused on some notable players in the social media space. That effort went nowhere after four (4) years.
• Latest legal foray was anti-trust suit filed against Bitmain et al. That appears to have failed as counsel for UAMA et al withdrew from the case in late December 2020.
• iPCS technology appears to have been the subject of much puffery yet has never achieved any traction at all. Normally, if technology worthwhile it is quickly part of an operational trial somewhere in the world. That never happened with iPCS as it was never clear it offered anything at all of value to the carrier community and there were legitimate concerns it violated accepted regulatory requirements. Was it ever patented? No evidence can be found USPO or any other body approved the patent. After five (5) years it is likely safe to say it has been a complete failure.
Any arms-length review of Mr. Benoit Laliberte's track record will show that he has never built a business of lasting value. That fact alone should provide the best prediction of his ability to create real value for investors.
Think about it! What other company do you know that has someone who was convicted on 44 counts of stock fraud, market manipulation and deceiving investors acting as President, CEO and CFO?
.......CAVEAT EMPTOR!
UAMA only a landlord. Not a miner! 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
No link to what's going on with Bitcoin et al. UAMA not even a player, just a simple LANDLORD.
Big change in complexion go business. Now just a landlord. No direct connection with "coins" and no upside ride as a miner.
UAMA bad news! Rev way down in 2020!
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 doesn't mention wireless! It's dead!
Mediocrity continues to reign at UAMA et al.
How about a real report disclosing all material information like:
1) Update on $47M bankruptcy of TNW (Teliphone-Navigata-Westel)?
2) Update on patent litigation?
3) Update on patent portfolio? How many patents? How many patents granted versus pending for years? How many licenses sold?
4) Update on anti-trust litigation? Last heard key counsel resigned end of December 2020.
5) Update on TNW Wireless Inc. Operational status of licensed network? 3G or 4G explain network enhancements in past two years? Roaming agreements with other carriers? Subscribers? Violation of terms of license in Canada? With failure and rejection of iPCS by the CRTC and the wireless industry what is the plan moving forward?
6) Clear explanation of UAMA et al cryptocurrency mining business. Is UAMA an actual miner of cryptocurrency or do they just rent Blockdome facilities to others? Lawry Trevor_Deutsch was clear in the August 6, 2020 article that they are or were just a landlord.
What will UAMA 2020 revenues look like?
Hint: Lawry Trevor-Deutsch says they suspended mining operations in early 2020.
Think not!
Woodland arrangement terminated likely because they didn't like miners operating in contempt of Quebec Court Order, especially after Laliberte lost the appeal.
So Woodland cancelled arrangement and abandoned old processors in place.
Then next thing we know is Lawry Trevor-Deutsch waxing on about tenants in Blockdomes back on August 6, 2020.
So all just more BS from these fakers.
The truth is likely that they started all over again in 2020 renting space to tenants who are the actual miners. So at end of the day UAMA et al nothing more than a landlord renting old processors to small miners
Can hardly wait to see 2020 Revenues and earnings.
UAMA list on CSE or TSXV. Not!
Real problem getting listed on one of these Canadian Exchanges.
They like to vet management and.....UAMA's convicted criminal CEO wouldn't pass muster.
That said HIVE, Galaxy, Blockchain Foundry, DMG, Bitfarms all have strong following in on these exchanges.
More BS from UAMA. Competition up 2020.
Today we learned they suspended operations in 2020.
Of course, we also learned back on August 6 2020 that Blockdomes principally rented to others according to Lawry Trevor-Deutsch.
Canadian competition grew substantially inn 2020 and they didn't stop. Competitors like:
HIVE (TSXV-HIVE) up 2,338%
Galaxy (TSX-GALAXY) up 1,009%
Blockchain Foundry (CSE-BCFN)
DMG (TSXV-DMGI)
Bitfarms (TSXV-BITF)
So we are to believe that UAMA suspended mining operations in early 2020 because of a weak market? That explanation won't hold water as competitors "crushed it" in 2020.
Also that's a major move and yet not mentioned by Lawry Trevor-Deutsch back in the August 6, 2020 article.
So what are they NOT TELLING SHAREHOLDERS? Quebec Court actions? Collapse of their former arrangement with Woodland?
Latest press release does not clearly state UAMA is a miner!
Best to be suspicious with UAMA as run by convicted criminal CEO.
UAMA - NO update ON OTC markets!
The BS just never stops with 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.
OTC Markets still has UAMA labeled Dark or Defunct
UAMA CEO still convicted criminal.
The Canadian Press was clear on the numerous serious convictions.
Not clear if UAMA a miner or landlord in 2020 & 2021.
Suspending oops in 2020 makes no sense. Other Quebec and Canadian miners grew substantially in 2020.
Operating in contempt of Quebec Court Order? Issue not mentioned or addressed,
UAMA-What value 2019 unaudited financials?
Especially when prepared and approved by Benoit Laliberte who is President, CEO and CFO.
Wonder who checks his work?
Didn't I read Mr. Laliberte was labeled as convicted criminal by The Canadian Press?
Golly Batman! UAMA 2019 financials tomorrow!
Can we trust Benoit Laliberte to deliver the true picture?
After all he's UAMA President, CEO and CFO?
Who checks his work?
UAMA -TNW Wireless not press release picture!
Picture not a part of any TNW Wireless Inc. network and just used in press release announcement to '"pump" non-existent facilities or capabilities.
Sandeep Panesar, CEO of TNW Wireless Inc. left in 2018 and no signs of life in the Canadian wireless industry with exception of failed pleadings to the CRTC, led by Benoit Laliberte.
Fact is TNW Wireless Inc. is the laughing stock of the Canadian wireless industry!
UAMA- What to expect when filings out!
Excuses for one! UAMA will blame pandemic, when in fact crypto-mining and wireless have grown substantially during last year, though maybe not for UAMA et al with their land-use problems, old processors and a failed wireless strategy.
If they couldn't make really great progress in the past year and a half, there is absolutely no reason to believe that the future will yield better results.
Expect grandiose vision with few specifics. Lot's of fluff and puffery but very short on specifics.
Claims like:
"Huge cryptocurrency mining campus to change climate in southern Quebec. Recovered heat from Blockdomes will make tropical crops a reality"
"TNW Wireless Inc. to redefine and remodel wireless industry. TNW to become largest carrier in Canada"
Good reason for this approach as management incompetent. Collectively they have not built a business of lasting value.
Benoit Laliberte has proven he can't attract serious talent as it is clear he's no leader and few people will follow a loser!
Expect latest filings unaudited as usual and with same person (Benoit Laliberte) as President, CEO and CFO you'd be safe to question validity of numbers.
Reports and financials may be comforting to some, though considering the source don't expect much more than a fleeting increase in market cap followed by a quick collapse. Or have the MMs already pumped it to max and is collapse the next step?
UAMA has little sustainable value. No upside!
Look at the financials they become available and read the report(s).
Look for overstated revenue and understated or underreported expenses. Remember the 16% mortgage on the Quebec property that houses the Blockdomes?
Clear up mining status. Is UAMA et al or any subsidiary actually acting as a miner or are they, as reported back on August 6, 2020 by Lawry Trevor-Deutsch simply a landlord renting space to others. There's a big difference in the value proposition.
For the record, UAMA et al doesn't even get honorable mention as a miner in Quebec. My guess too small, too insignificant to even get any attention.
Where and what has UAMA been doing since the last filings for 3Q-2019? It needs an explanation and please don't say that the pandemic has hampered activities. Crypto-currency mining, wireless and telecom have been doing just fine in the past year.
So show us Mr. Laliberte. You've had over a year and a half to come up with the vision and plan. If its not compelling investors can expect value to drop like a stone.
UAMA CEO should lay out vision and plan.
No more BS on vision of massive crypto-currency mining campuses. Quebec already has massive miners who are doing just fine. UAMA, et al's Blockdomes just look silly in comparison.
Tell us how TNW Wireless Inc. is going to make a comeback. Maybe consolidate rural broadband providers and build a new nationwide network. That's already been tried and has led nowhere but if you have the talent, can sell the vision to the current broadband operators, and can raise the significant capital to make it happen, TNW Wireless Inc. could likely have a future.
Seems TNW Wireless Inc. has blown the window of opportunity to make it as a wholesale rural cellular carrier. Bell, Telus and Rogers have all overbuilt now so they don't need TNW Wireless as a roaming partner. The CRTC soundly rejected the sophomoric iPCS technology as did the wireless industry as a whole.
Convince us Mr. Laliberte that you have a vision and a plan that's more than just a pumped and hyped up press release.
You have little credibility so step up and outline the vision and tell us what steps you're going to take to get the job done. Serious investors would want to see goals and timelines.
UAMA upside? Where's the capital?
The $47M bankruptcy of Teliphone-Navigata-Westel has totally "gutted" the largest operating portion of the UAMA, Investel et al house of cards. Assets gone and sold to pay debts, employees and talent base all followed the assets or left for other pursuits.
UAMA is an empty vessel run by a CEO The Canadian Press says is a convicted criminal. Nobody wants to lend or invest in the Company.
If Laliberte really cared about UAMA he'd step down or aside and hire a CEO with some creds and a following. Laliberte has proven he doesn't have what it takes.
With Laliberte as CEO it will be impossible to raise capital to finance any real growth!
Think about it. UAMA has little if any working capital. Faces overhang from the bankruptcy still on-going in the Supreme Court of BC which could potentially bring charges against Laliberte. Written threats to an Officer of the Court and the little matter of over $1M in unremitted employee withholding to the CRA may yet turn out to be problematical for Mr. Laliberte.
No substance to UAMA! No upside!
History has a way of repeating itself.
Keep that in mind when you review results and read of the UAMA vision in the days ahead.
It will get pumped and the complicit posters who have likely never created, built, turned around, or managed a business and they will fawn over the latest line of BS from Benoit Laliberte, UAMA President, CEO and CFO. Their opinions worthless.
Consider the source however and his track record. Benoit Laliberte was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors.
Keep the deception in mind when you read the reports and financials.
And........never forget Benoit Laliberte, UAMA CEO has never built a business of lasting value.
UAMA pictures just BS. Like wireless photo.
UAMA, Investel, TNW Wireless et al never built anything like this.
UAMA doomed to mediocrity under Laliberte.
He has no relevant experience and no track record of success!
Holy creds Batman! UAMA Intro messed up!
Near top read something "comming soon". Maybe English and spelling not their strong suit.
Sandeep Panesar still listed as Officer. Fraudulent misrepresentation. Same with some other listed employees.
Some site links don't work. Oh my! Can only imagine how impressive they would be!
As long as Benoit Laliberte updating to latest BS version maybe he can clean up the Intro to this Board.
Dunno Robin! Set BS meter on high!
Golly Batman! UAMA going to update filings soon!
Won't that be fun!
UAMA. Can you believe convicted CEO?
We're told UAMA to issue long overdue reports and financials. Last seen in 3Q-2019.
Expect financials to overstate revenues and obscure or hide some expenses. You know like the cost of the land-lease or rental housing the sophomoric Blockdomes.
Will UAMA clarify if they are a miner or just a landlord? If they don't tell you they are simply renting to real miners.
Will they update patent portfolio or is it a "non-event". Haven't seen any evidence that they UAMA et al has licenced one patent to anyone anywhere in the world. Tells you what the intellectual property is worth!
It should come as no surprise that patent litigation went nowhere.
How about update on anti-trust litigation? Last read that key counsel resigned at end of December 2020.
How about TNW Wireless Inc.? Wonder if Benoit Laliberte can sugar coat that failure? What will they do? iPCS soundly rejected by the CRTC and the wireless industry. Bell, Telus have now overbuilt so don't need to roam on any existing TNW cell sites. Industry sources tell me TNW Wireless has no roaming agreements, no paying subscribers and network has been inoperative since 2018. Expect ISED to revoke their licences when pandemic in rear view mirror.
So Laliberte's vision moving forward should prove entertaining. From past performance he won't be able to execute so it won't matter in the end.
UAMA. Incompetence has produced mediocrity!
Leaders make a difference and in UAMA's case Benoit Laliberte has failed in a spectacular fashion.
Goes all the way back to Jitec. His bungling got him convicted on 44 counts of stock fraud, market manipulation and deceiving investors.
More recently he can take the credit for the $47M bankruptcy of Teliphone-Navigata- Westel (TNW), which is still before the Supreme Court of BC. Impact already felt and the forced sale of all the key assets has totally "gutted" the largest operating subsidiary.
TNW Wireless Inc. another shining example of Laliberte's incompetence. He knows nothing about the wireless industry though bought a market-ready rural cellular carrier (RuralCom) back in early 2017. RuralCom had roaming agreements with AT&T, T-Mobile, Verizon and Sprint and was in negotiations with Bell Canada. The RuralCom CEO has committed funding to expand the network and quickly build the business as a wholesale wireless carrier. Laliberte chose to fire the RuralCom CEO and try an end-run with key sources of capital. Not surprisingly they quickly showed him to the door!
As long as Laliberte is CEO expect nothing more than mediocrity!
Look at successful miners in Quebec! UAMA not!
Successful miners buy and operate the latest most powerful processors and they concentrate them in really big operations.
The goal is to make "coin" mining as much as you can as fast as you can.
Look at the leading miners in Quebec. Heck, they're so big UAMA, Investel et al and their Blockdomes doesn't even get a mention.
At the end of the day UAMA just a hobby-sized player.
Look at successful miners!
Successful miners buy and operate the latest most powerful processors and they concentrate them in really big operations.
The goal is to make "coin" mining as much as you can as fast as you can.
Look at the leading miners in Quebec. Heck, they're so big UAMA, Investel et al and their Blockdomes doesn't even get a mention.
At the end of the day UAMA just a hobby-sized player.
No upside for UAMA.
History will repeat itself.
In less than 11 days UAMA will promise big things.
As we've learned after years of empty promises Benoit Laliberte, UAMA CEO will fail to deliver on those promises.
UAMA's wireless initiative doomed by mismanagement!
Benoit Laliberte doesn't have what is takes to be an effective CEO.
UAMA, Investel et al had foresight to buy RuralCom Corp, a market ready wholesale cellular carrier. That business model well proven by the likes of Atlantic Tele-Network (ATNI-NASDAQ) and others. Instead of using RuralCom CEO and his ready access to capital, Benoit Laliberte chose to fire that CEO and try and end-run with sources of capital. He has no experience, real knowledge and no creds in wireless and they quickly showed him to the door!
So Benoit Laliberte in just a matter of months following the purchase of RuralCom killed the business.
Time has passed and so has any opportunity for the business.
Any visions of success in wireless that may appear in the upcoming announcements should be dismissed as Mr. Laliberte simply doesn't have what it takes! And.......he's proven that to us!
Future of UAMA not hard to predict!
History is about to repeat itself and in less than 11 days we're told we'll get to see a report and financials.
So what?
The bald fact is that Benoit Laliberte, UAMA CEO has never been able to build a business of lasting value. In fact the record shows he most ofter screws up everything he touches.
You know like building sophomoric Blockdomes on agricultural land in violation of land-use regs. Who does that? Stupid people do that!
Investel bought RuralCom a market-ready rural cellular carrier with a working network. Had premium-priced roaming agreements with all the major US carriers including AT&T, Sprint, T-Mobile and Verizon and in negotiations with Bell. Even better RuralCom CEO had sources of expansion capital with term sheets. Benoit Laliberte's ego too big! Fired RuralCom CEO (and breached his employment agreement-that in the courts now) and tried an end-run with sources of expansion capital known to RuralCom CEO. They showed him the door!
Fact is TNW Wireless Inc. (nee RuralCom) could have quickly become a going concern as a celllular carrier generating $40-60M in annual revenue and 40-60% EBITDA. How's that compared to miserable performance of UAMA to date.
Instead Benoit's ignorance of the wireless industry led him to pursue an idiotic plan to try and remake the industry and regulations. His strategy built around worthless iPCS technology that was never able to attract any interest anywhere in the world. No wireless industry CEO with any sense would have ever pursued such a losing strategy. Needless to say that was a spectacular failure and managed to alienate the Canadian wireless carriers who would ordinarily have interest in signing roaming agreements with a new rural carrier. Sadly, any window of opportunity has closed for TNW Wireless Inc. as the major carriers have overbuilt and no longer need roaming partners in the original licence areas.
So what will we learn in the report and financials soon to be released:
• UAMA et al is not really a miner but operating as a landlord for real miners (little upside!)
• UAMA now just "hobby-sized" and not even a factor in cryptocurrency mining in Quebec
• Promise of huge "mining campus" maybe big enough to change climate in Quebec
• New initiative in wireless which will predictably lead nowhere!
• Big wireless consolidation play to form new nationwide network of broadband-based providers. (It's been tried before and will predictably fail)
So expect modest financials and huge upside based on renewed vision for the future.
At the end of the day Benoit Laliberte has a great imagination. Too bad he has no team building or execution skills.
Great managers and leaders get it done. Sweat the small stuff, hire or partner with talented people and focus on excellence. Benoit does not have what it takes!
UAMA's future will end up being a repeat of the past. A serial failure!
UAMA - Pink No Information
See OTC markets "Dark or Defunct"
CAVEAT EMPTOR
UAMA CEO likely unfit for office!
"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 fucked 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.
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 likely unfit for office!
"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 fucked 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.
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.
How about update on litigation?
Patent litigation went nowhere.
Anti-trust litigation went nowhere. UAMA et al counsel resigned from case at end of December 2020.
How about update on Patents.
Seems an awful lot were "pending" then they weren't mentioned again.
Questions:
1) iPCS ever patented?
2) Blockdomes ever patented?
Of greater interest is marketing of any of the so-called intellectual property and patents.
Don't ever recall seeing one (1) license agreement.
UAMA totally worthless enterprise run by convicted criminal.
Like every business Mr. Benoit Laliberte has ever put his hands on it will turn to JUNK!
Like:
•Jitec
•Inelco
•Teliphone
•Navigata
•Westel
He has never built a business of lasting value.
Excellence not part of his vocabulary.
Stock Fraud, Market Manipulation Deceiving Investors by CEO! CP (Canadian Press)
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:
https://lautorite.qc.ca/en/general-public/media-centre/news/fiche-dactualites/in-matter-of-jitec-appeal-of-benoit-lalibertes-penal-conviction-benoit-laliberte-guilty-of-thre/[
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 said the following:
[[color=red]quote]49. As stated above, Mr. Laliberte is an undischarged bankrupt. Despite this, he has claimed
to be an officer and/or representative of a variety of companies in the TNW Group, most
recently being Teliphone and Investel Capital Corporation.
[/color]
Caveat Emptor - CAVEAT EMPTOR
Caution: FRAUDULENT MISREPRESENTATION in OTC filings! U.S. SECURITIES AND EXCHANGE COMMISSION
1) US Pink-listed companies must file public disclosure documents.
2) Those Pink filing documents subject to SEC oversight especially when FRAUDULENT MISREPRESENTATION reported.
3) See following identical case:
Identical violations! Benoit Laliberte claims he had no prior criminal convictions within the past 10 years in the latest 2018-19 UAMA Quarterly Reports and Pink Disclosures. The evidence is clear he was found guilty on 44 of 48 counts of stock fraud, market manipulation and deceiving investors, with latest conviction in April 2009, clearly within the 10 year time period. UAMA Pink OTC market same as below and multiple violations so no accident.
Litigation Release No. 22442 / August 10, 2012
SEC v. Ronald D. Brooks, Civil Action No. 3:12-cv-2716 (N.D. Tx. Aug. 9, 2012)
SEC Charges Former Public Company CEO with Fraud
On August 9, the Securities and Exchange Commission filed a complaint in the United States District Court for the Northern District of Texas alleging that Ronald D. Brooks committed securities fraud while serving as CEO and chairman of Standard Oil Company USA, Inc., a purported energy company headquartered in Dallas, Texas.
According to the SEC’s complaint, Brooks signed and certified Standard Oil’s initial disclosure statement filed with the Pink OTC Markets and made available to investors through that market’s website. Brooks represented in the disclosure statement that he had no prior criminal convictions. In fact, however, Brooks has three prior felony convictions, two for securities violations. The SEC therefore alleges that Brooks defrauded Standard Oil’s investors. The complaint charges Brooks with violating Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder and seeks a permanent injunction, a civil monetary penalty, an officer-and-director bar, and a penny-stock bar.
If SEC took same action with UAMA that would mean:
a) permanent injunction, and
b) a civil monetary penalty, and
c) officer-and-director bar, and
d) a penny-stock bar.
That would effectively protect the public market and investors by preventing Mr. Laliberte from acting in any capacity for a publicly-listed company. Action is long overdue in bringing Mr. Laliberte to justice for his well documented and evidenced fraudulent misrepresentation.
In case of Mr. Laliberte the number and seriousness of past convictions could result in the filing of criminal charges which could result in jail time for Mr. Laliberte. According to other posts on this board (Bilal Khabab) Mr. Laliberte never paid his fine to Quebec, has been an undischarged (and undisclosed) personal bankrupt for over ten (10) years and has failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Count on the SEC to take all of this into consideration when they get around to recommending appropriate punishment.
All of this will be devastating to UAMA and shareholders.
Remember Inelco and Teliphone both run by Laliberte had listings REVOKED by SEC! Stockholders lost everything!
caveat emptor - CAVEAT EMPTOR
Why is the Court's decision of April 28, 2009 important?
UAMA Pink disclosure of 2Q-2019 (UAMA calendar yr filer) was submitted and signed by Benoit Laliberte in his roles as President, CEO and CFO of UAMA. In that submission Mr. Laliberte answered "No" to question re any convictions in past ten (10) years. Clearly a falsehood and fraudulent misrepresentation.
Evidence is clear and unambiguous. Preponderance of evidence supports guilty decision.
Complaint filed with SEC and working its way through system. Likely handled as per identical case with Ronald d. Brooks, Civil Action No. 3:12-cv-2716 (N.D. Tx. August 9, 2012.
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.
Sentencing representations for these three charges will be held at a later date. The AMF wishes to stress once again that illegal insider trading and misrepresentations are unacceptable offences, and guilty parties must be harshly penalized.
As well, Judge Wagner dismissed the appeal launched by Benoît Laliberté with respect to the guilty verdict handed down by Judge Lacerte-Lamontagne on 40 charges.
On February 21, 2008, Court of Québec Judge Lacerte-Lamontagne found Benoît Laliberté guilty of 41 violations under the Securities Act (the "Act"):
-for failing to file a report disclosing a change in his control over the securities of a reporting issuer, namely, Jitec Inc., thereby violating section 97 of the Act (30 counts);
-for insider trading in the securities of Jitec Inc. while having privileged information about the company, thereby violating section 187 of the Act (4 counts);
-or aiding Jitec Inc. in making a misrepresentation in press releases that could affect the market value or price of the company's securities, thereby violating section 196 of the Act (2 counts);
-for making a misrepresentation in connection with a transaction relating to securities by promising investors, at the time they purchased shares of Jitec Inc., that contracts worth millions of dollars had been or would soon be signed by Jitec Inc. and another company, thereby violating section 197 of the Act (4 counts);
-and for giving an undertaking relating to the future value or price of the securities of Jitec Inc. in connection with a transaction relating to the securities of the company, thereby violating section 199 of the Act (1 count).
-On July 31, 2008, Judge Céline Lacerte-Lamontagne ordered Benoît Laliberté to pay fines totalling $900,000.
The decision handed down by Judge Richard Wagner is available (in French only) on the AMF website, under "News."
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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Convicted CEO forever limits UAMA. The Supreme Court deaf to the cause of Benoît Laliberté
The Canadian Press says UAMA CEO convicted criminal.
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to......PRISON.
See the last paragraph in the article below:
By: The Canadian Press on: 2011-04-21
The highest authority in the country refused to hear the appeal of the former president of Jitec. He will have to take out his check book and sign an amount of $ 800,000 for which he was sentenced for insider trading.
Benoît Laliberté did not want to appeal his conviction, but argued that he only had to pay $ 20,000 according to his interpretation of the section of the Securities Act that provides for fines.
The country's highest court today said it was not going to look into his case.
Pas de quoi se réjouir pour Benoît Laliberté qui posait ici avec son avocat Pearl Reevin
Benoît Laliberté who was here with his lawyer Pearl Reevin
He was convicted in 2008 of about 40 counts for violating the Securities Act in 2000 and 2001, when he was President and Chief Executive Officer of Jitec, a publicly traded computer company. from Montreal.
During this period, Mr. Laliberté had acquired thousands of Jitec shares through several thirds, while the appropriate insider reports had not been made. Then the hasty announcement of a partnership with a telephone company had pushed up the value of the title.
The Autorité des Marchés Financiers criticized him for insider trading and the dissemination of misleading information "likely to affect the share price".
He had avoided prison because his crimes were committed before the law was amended in December 2002, which opened the door to the imposition of a prison sentence.
Of course if it wasn't true Mr. Benoit Laliberte would file suit against The Canadian Press, so the truth is clear here!
All of this NEVER PROPERLY disclosed in UAMA, Inelco or Teliphone public disclosure documents.
The SEC does and will act on such violations and likely just a matter of time!