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Dodge this fraud! Research before buying!
1) No Pink disclosures or financial filings in over a year! What are they afraid to announce?
2) Rumor mill says Woodland (sp?) the original customer for cryptocurrency mining cancelled and turned over old mining assets to avoid liaibility from Quebec Court order to shut-down miners due to land-use violations. Record shows company appealed and lost so Court Order up-held up on appeal.
3) TNW Wireless Inc. has been a COLOSSAL FAILURE. No working cellular network, no paying subscribers, no roaming agreements and no revenue. Mr. Laliberte killed a market-ready wireless carrier that could be generating $40-60M in revenue and 40-60% EBITDA today. Former RuralCom CEO had investors ready to fund when Laliberte terminated him and approached investors directly. Needless to say investors showed him the door! Funny how investors don't like to lend or fund companies led by a convicted criminal (per The Canadian Press)
4) Various litigation has gone nowhere in over four (4) years. Costly patent litigation has produced neither court awards or licensing revenue. Seems like patents only of value to Mr. Laliberte's ego.
5) Anti-trust litigation in Florida seems to have come to an end with announced motion from key counsel to withdraw from the case.
6) The $47M bankruptcy of Teliphone-Navigata-Westel is still before the Supreme Court of BC, though the damage has been done. All assets ordered sold by the Court to Distributel who also took all of the employees essentially GUTTING the ASSET and TALENT BASE of what was UAMA, Investel, et al.
All in all 2020 has been a devastating year and not likely one that UAMA can recover from. Convicted Criminal CEO (per The Canadian Press) and abysmal failures make in nearly impossible to raise any meaningful capital. Little probability of any upside for UAMA.
UAMA CEO committed fraud in 2019 UAMA disclosures!
Complaint filed with SEC is based on Laliberte as sole signatory to Pink disclosures and, acting as President, CEO and CFO of UAMA, did knowingly commit fraud in violation of US law, when he specifically answered "NO" to question on previous convictions within past 10 years. Clearly a "falsehood".
Here's the record of the court's decision against Mr. Laliberte, UAMA CEO.
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-1
This is classic Laliberte and other examples can be found in the court record of the $47M bankruptcy currently still open before the Supreme Court of BC.
UAMA CEO committed fraud in 2019 UAMA disclosures!
Complaint filed with SEC is based on Laliberte as sole signatory to Pink disclosures and, acting as President, CEO and CFO of UAMA, did knowingly commit fraud in violation of US law, when he specifically answered "NO" to question on previous convictions within past 10 years. Clearly a "falsehood".
Here's the record of the court's decision against Mr. Laliberte, UAMA CEO.
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-1
This is classic Laliberte and other examples can be found in the court record of the $47M bankruptcy currently still open before the Supreme Court of BC.
Merit found in SEC complaint v UAMA.
Here's the record of the court's decision against Mr. Laliberte, UAMA CEO.
//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-1
The AMF knows Mr. Laliberte well as it is also HQ'd in Quebec. Original and these later convictions never properly disclosed back in Teliphone (NASDAQ) or subsequent Pink disclosures.
Complaint filed is based on Laliberte as sole signatory to Pink disclosures and, acting as President, CEO and CFO of UAMA, did knowingly commit fraud in violation of US law, when he specifically answered "NO" to question on previous convictions within past 10 years. Clearly a "falsehood".
This is classic Laliberte and other examples can be found in the court record of the $47M bankruptcy currently still open before the Supreme Court of BC.
Bitcoin rolls on, UAMA on death-watch!
Pure fraud in thinking UAMA is in any way a going concern capable of recovery and the association with Bitcoin and UAMA is wishful thinking taken to the extreme. A fairy tale!
Look at the facts, UAMA is DEAD!
(1) No reports in over a year! No public company hides good news or positive results!
(2) Unannounced and covered up $47M BANKRUPTCY of largest telecom operating assets has been gutted with nearly all assets and employees GONE! Meanwhile Benoit Laliberte issued written threats to an Officer of the Court and has millions $$$ in unremitted EMPLOYEE WITHHOLDING TAXES owed to the CRA. Maybe these will bring criminal charges to add to Mr. Laliberte's record.
(3) TNW Wireless Inc. has totally failed and likely the largest missed opportunity of all. When RuralCom bought roaming agreements in place and former CEO had financing arranged to expand as business was "market-ready". Laliberte terminated the CEO who was the only one in management with wireless industry knowledge and contacts. Laliberte thought he'd do an end run with the former CEO's funding sources and they showed him to the door. Funny, institutional investors wary of funding business run by a convicted criminal (per The Canadian Press).
(4) UAMA et al's cryptocurrency mining operations nothing more than a high-school science class experiment. Technology nobody wants from a company nobody trusts! It is believed that Woodland (sp?) or the company sub-contracting mining to UAMA et al has cancelled or terminated their agreement. Rumors don't say though maybe Quebec Court Order to shut-down miners and return the land to specified pure agricultural use may have been more than Woodland or whoever wanted in terms of liability. Operating in CONTEMPT OF COURT is never a good path.
(5) Patent and anti-trust litigation cases have produced any results in over four (4) years! Just all part of the fraudulent efforts to try and create a "larger than life" picture of UAMA et al. Latest in anti-trust case was the exit of key legal counsel approved by the Court. No proof though, IMHO, he walked when Mr. Laliberte failed to pay legal fees as per retainer agreement. Mr. Laliberte is apparently good at breaching contracts and his propensity for this even caused a Judge from the Supreme Court to go on the record saying it appeared that the Mr. Laliberte makes a practice of this in his business dealings.
Looking to the future and predicting what to expect from UAMA is not encouraging if you rely on past performance of either the business or it's management team. Mr. Laliberte and his team of miscreants have NEVER built a business of lasting value.
Ordinarily companies can make comebacks though UAMA's biggest problem is the convicted criminal label bestowed upon him by The Canadian Press. With the CEO so labeled it make raising capital for any purpose nearly impossible.
As to the "success by association" posts from other pathetic supporters of this fraudulent enterprise there is absolutely no connection between the phenomenal success of Bitcoin and the abysmal state of affairs and failures at UAMA.
So at the end of the year it's likely safe to assume that the financials are a mess that revenues have dried up, or at best dwindled to a trickle, assets are essentially gone and all that's left is Messrs Laliberte and Trevor-Deutsch. Even Mr. Cote the Chairman has chosen to exit.
UAMA's outlook is bleak by any measure!
Bitcoin rolls on, UAMA on death-watch!
Pure fraud in thinking UAMA is in any way a going concern capable of recovery and the association with Bitcoin and UAMA is wishful thinking taken to the extreme. A fairy tale!
Look at the facts, UAMA is DEAD!
(1) No reports in over a year! No public company hides good news or positive results!
(2) Unannounced and covered up $47M BANKRUPTCY of largest telecom operating assets has been gutted with nearly all assets and employees GONE! Meanwhile Benoit Laliberte issued written threats to an Officer of the Court and has millions $$$ in unremitted EMPLOYEE WITHHOLDING TAXES owed to the CRA. Maybe these will bring criminal charges to add to Mr. Laliberte's record.
(3) TNW Wireless Inc. has totally failed and likely the largest missed opportunity of all. When RuralCom bought roaming agreements in place and former CEO had financing arranged to expand as business was "market-ready". Laliberte terminated the CEO who was the only one in management with wireless industry knowledge and contacts. Laliberte thought he'd do an end run with the former CEO's funding sources and they showed him to the door. Funny, institutional investors wary of funding business run by a convicted criminal (per The Canadian Press).
(4) UAMA et al's cryptocurrency mining operations nothing more than a high-school science class experiment. Technology nobody wants from a company nobody trusts! It is believed that Woodland (sp?) or the company sub-contracting mining to UAMA et al has cancelled or terminated their agreement. Rumors don't say though maybe Quebec Court Order to shut-down miners and return the land to specified pure agricultural use may have been more than Woodland or whoever wanted in terms of liability. Operating in CONTEMPT OF COURT is never a good path.
(5) Patent and anti-trust litigation cases have produced any results in over four (4) years! Just all part of the fraudulent efforts to try and create a "larger than life" picture of UAMA et al. Latest in anti-trust case was the exit of key legal counsel approved by the Court. No proof though, IMHO, he walked when Mr. Laliberte failed to pay legal fees as per retainer agreement. Mr. Laliberte is apparently good at breaching contracts and his propensity for this even caused a Judge from the Supreme Court to go on the record saying it appeared that the Mr. Laliberte makes a practice of this in his business dealings.
Looking to the future and predicting what to expect from UAMA is not encouraging if you rely on past performance of either the business or it's management team. Mr. Laliberte and his team of miscreants have NEVER built a business of lasting value.
Ordinarily companies can make comebacks though UAMA's biggest problem is the convicted criminal label bestowed upon him by The Canadian Press. With the CEO so labeled it make raising capital for any purpose nearly impossible.
As to the "success by association" posts from other pathetic supporters of this fraudulent enterprise there is absolutely no connection between the phenomenal success of Bitcoin and the abysmal state of affairs and failures at UAMA.
So at the end of the year it's likely safe to assume that the financials are a mess that revenues have dried up, or at best dwindled to a trickle, assets are essentially gone and all that's left is Messrs Laliberte and Trevor-Deutsch. Even Mr. Cote the Chairman has chosen to exit.
UAMA's outlook is bleak by any measure!
UAMA a fraud from top down!
-Note the convicted criminal CEO per The Canadian Press.
-Huge $47M bankruptcy in Canada has gutted the business and most assets and employees gone.
No reports or filings from the company in over a year. That suggests any news would be very dismal and a bleak outlook for UAMA.
OTC Markets has UAMA labeled as “Dark or Defunct”.’
CAVEAT EMPTOR
Leading Canadian Law Firm says UAMA CEO guilty!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Never disclosed to SEC. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL
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!
Canadian Press says UAMA CEO convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL
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!
Canadian Press says UAMA CEO convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL
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!
Counsel for UAMA successfully exits!
PAPERLESS ORDER granting [165] Motion to Withdraw as Attorney. Michael O. Mena representing United American Corp. (Plaintiff) withdrawn from case. Signed by Magistrate Judge Chris M. McAliley on 12/15/2020. (rr00)
DEFUNCT. No Reports for over 1 year!
• No reports in over a year!
• Biggest Canadian operating subsidiary filed $47M bankruptcy
• TNW Wireless Inc., a cellular carrier, has failed. Network INOP, No revenue or earnings.
• Patent litigation has produced NOTHING in four years. No judgments, no licensing agreements.
• Anti-trust litigation appears to have collapsed as lead attorney has withdrawn from the action.
• See OTC Markets. Skull & Crossbones, OTC no longer quoting, labeled as DARK or DEFUNCT.
Caveat Emptor.
UAMA a lightweight hobby miner!!!
BS posters would have you believe that UAMA is a "player". They aren't and nothing could be further from the truth.
Compared to other Canadian companies like HIVE (TSXV) UAMA is a lightweight!
The name of the game is to get cheap "green power" and build and operate as many miners as you can. Not older equipment but the latest, fastest and most powerful processors. The HIVE You TUbe video does a good job of explaining the need and showing how its done!
After watching this you'll quickly come to understand that what UAMA is doing is just "ego fodder" for Benoit Laliberte who likely has a clever and talented mind, though has gotten carried away with his focus on patents. Note that after four (4) years UAMA has not succeeded in any patent litigation or signed any licensing agreements. That's been a total failure and indicative of the lack of inherent value in the patents.
All same with TNW Wireless Inc. Mr. Laliberte believed that he had patentable intellectual property that was going to transform the wireless industry. Instead of building on "market ready" RuralCom he chose to pursue the POS iPCS technology. That has also completely failed.
Think about it though. RuralCom was "market-ready" and the former CEO of RuralCom had investors ready to invest, the kind that had already issued term sheets to the Company. Lalilberte's ego got in the way and he decided to bet it all on unproven technology that nobody in the wireless industry cared enough about to even trial it.
IF, Mr. Laliberte had simply moved ahead with RuralCom, built on the roaming agreements already in place with all the major US carriers and agreements in negotiation with the Canadian Carriers, that business would be generating $40-60M per year by now with 40-60% EBITDA.
TNW Wireless DEAD. Killed by Laliberte!
1) No Pink disclosures or financial filings in over a year! What are they afraid to announce?
2) Rumor mill says Woodland (sp?) the original customer for cryptocurrency mining cancelled and turned over old mining assets to avoid liaibility from Quebec Court order to shut-down miners due to land-use violations. Record shows company appealed and lost so Court Order up-held up on appeal.
3) TNW Wireless Inc. has been a COLOSSAL FAILURE. No working cellular network, no paying subscribers, no roaming agreements and no revenue. Mr. Laliberte killed a market-ready wireless carrier that could be generating $40-60M in revenue and 40-60% EBITDA today. Former RuralCom CEO had investors ready to fund when Laliberte terminated him and approached investors directly. Needless to say investors showed him the door! Funny how investors don't like to lend or fund companies led by a convicted criminal (per The Canadian Press)
4) Various litigation has gone nowhere in over four (4) years. Costly patent litigation has produced neither court awards or licensing revenue. Seems like patents only of value to Mr. Laliberte's ego.
5) Anti-trust litigation in Florida seems to have come to an end with announced motion from key counsel to withdraw from the case.
6) The $47M bankruptcy of Teliphone-Navigata-Westel is still before the Supreme Court of BC, though the damage has been done. All assets ordered sold by the Court to Distributel who also took all of the employees essentially GUTTING the ASSET and TALENT BASE of what was UAMA, Investel, et al.
All in all 2020 has been a devastating year and not likely one that UAMA can recover from. Convicted Criminal CEO (per The Canadian Press) and abysmal failures make it nearly impossible to raise any meaningful capital. Little probability of any upside for UAMA.
NO at UAMA. Mining faded! TNW Wireless DEAD!
1) No Pink disclosures or financial filings in over a year! What are they afraid to announce?
2) Rumor mill says Woodland (sp?) the original customer for cryptocurrency mining cancelled and turned over old mining assets to avoid liaibility from Quebec Court order to shut-down miners due to land-use violations. Record shows company appealed and lost so Court Order up-held up on appeal.
3) TNW Wireless Inc. has been a COLOSSAL FAILURE. No working cellular network, no paying subscribers, no roaming agreements and no revenue. Mr. Laliberte killed a market-ready wireless carrier that could be generating $40-60M in revenue and 40-60% EBITDA today. Former RuralCom CEO had investors ready to fund when Laliberte terminated him and approached investors directly. Needless to say investors showed him the door! Funny how investors don't like to lend or fund companies led by a convicted criminal (per The Canadian Press)
4) Various litigation has gone nowhere in over four (4) years. Costly patent litigation has produced neither court awards or licensing revenue. Seems like patents only of value to Mr. Laliberte's ego.
5) Anti-trust litigation in Florida seems to have come to an end with announced motion from key counsel to withdraw from the case.
6) The $47M bankruptcy of Teliphone-Navigata-Westel is still before the Supreme Court of BC, though the damage has been done. All assets ordered sold by the Court to Distributel who also took all of the employees essentially GUTTING the ASSET and TALENT BASE of what was UAMA, Investel, et al.
All in all 2020 has been a devastating year and not likely one that UAMA can recover from. Convicted Criminal CEO (per The Canadian Press) and abysmal failures make in nearly impossible to raise any meaningful capital. Little probability of any upside for UAMA.
UAMA has suffered a devastating year! CAVEAT EMPTOR
1) No Pink disclosures or financial filings in over a year! What are they afraid to announce?
2) Rumor mill says Woodland (sp?) the original customer for cryptocurrency mining cancelled and turned over old mining assets to avoid liaibility from Quebec Court order to shut-down miners due to land-use violations. Record shows company appealed and lost so Court Order up-held up on appeal.
3) TNW Wireless Inc. has been a COLOSSAL FAILURE. No working cellular network, no paying subscribers, no roaming agreements and no revenue. Mr. Laliberte killed a market-ready wireless carrier that could be generating $40-60M in revenue and 40-60% EBITDA today. Former RuralCom CEO had investors ready to fund when Laliberte terminated him and approached investors directly. Needless to say investors showed him the door! Funny how investors don't like to lend or fund companies led by a convicted criminal (per The Canadian Press)
4) Various litigation has gone nowhere in over four (4) years. Costly patent litigation has produced neither court awards or licensing revenue. Seems like patents only of value to Mr. Laliberte's ego.
5) Anti-trust litigation in Florida seems to have come to an end with announced motion from key counsel to withdraw from the case.
6) The $47M bankruptcy of Teliphone-Navigata-Westel is still before the Supreme Court of BC, though the damage has been done. All assets ordered sold by the Court to Distributel who also took all of the employees essentially GUTTING the ASSET and TALENT BASE of what was UAMA, Investel, et al.
All in all 2020 has been a devastating year and not likely one that UAMA can recover from. Convicted Criminal CEO (per The Canadian Press) and abysmal failures make in nearly impossible to raise any meaningful capital. Little probability of any upside for UAMA.
Dodge this fraud! Research before buying!
1) No Pink disclosures or financial filings in over a year! What are they afraid to announce?
2) Rumor mill says Woodland (sp?) the original customer for cryptocurrency mining cancelled and turned over old mining assets to avoid liaibility from Quebec Court order to shut-down miners due to land-use violations. Record shows company appealed and lost so Court Order up-held up on appeal.
3) TNW Wireless Inc. has been a COLOSSAL FAILURE. No working cellular network, no paying subscribers, no roaming agreements and no revenue. Mr. Laliberte killed a market-ready wireless carrier that could be generating $40-60M in revenue and 40-60% EBITDA today. Former RuralCom CEO had investors ready to fund when Laliberte terminated him and approached investors directly. Needless to say investors showed him the door! Funny how investors don't like to lend or fund companies led by a convicted criminal (per The Canadian Press)
4) Various litigation has gone nowhere in over four (4) years. Costly patent litigation has produced neither court awards or licensing revenue. Seems like patents only of value to Mr. Laliberte's ego.
5) Anti-trust litigation in Florida seems to have come to an end with announced motion from key counsel to withdraw from the case.
6) The $47M bankruptcy of Teliphone-Navigata-Westel is still before the Supreme Court of BC, though the damage has been done. All assets ordered sold by the Court to Distributel who also took all of the employees essentially GUTTING the ASSET and TALENT BASE of what was UAMA, Investel, et al.
All in all 2020 has been a devastating year and not likely one that UAMA can recover from. Convicted Criminal CEO (per The Canadian Press) and abysmal failures make in nearly impossible to raise any meaningful capital. Little probability of any upside for UAMA.
Year-end inventory of UAMA failures:
1) Unannounced $47M bankruptcy of biggest brick & mortar assets of UAMA, Investel et al. A good year for Chairman Cote to resign.
2) Total failure of TNW Wireless Inc! For Investel et al (including Laliberte) they set themselves up as some sort of enterprise that could consolidate many into one. In case of wireless they bought (nobody forced them!) a market-ready wireless carrier with negotiated roaming agreements at very favorable rates and a working 3G network. Former CEO had financing arranged but Laliberte's ego too big and thought he'd do end run. Fired the CEO and potential sources of capital showed him the door. After nearly four (4) years TNW Wireless Inc. has totally failed. If the plan sold to investors by previous RuralCom CEO had gone forward would be $40-60M annual rev. and 40-60% EBITDA and that would have propelled UAMA stock to real solid new highs.
3)Cryptocurrency mining is likely dead or generating so little revenue that reporting the results would totally tank UAMA stock. Fact is Blockchain Domes is another sophomoric High School Science project. UAMA's mining business not even on the radar of biggest miners in Quebec let alone Canada, North American or the world.
4) The entire "patent initiative" at UAMA has produced zero results! Actually less if you consider the wasted money and management time devoted to trying to win patent litigation or gain licensing revenue. UAMA et al and Laliberte in particular have failed here as well.
5) Predictably the much publicized anti-trust litigation in Florida has gone nowhere. It was a total waste of time and money! Chalk up another fail for Laliberte.
Look back at Benoit Laliberte's track record not the fabricated Wikipedia version. The facts are simple. Benoit Laliberte is a convicted criminal according to The Canadian Press and he was found guilty of 44 counts of Stock Fraud, Market Manipulation and Deceiving Investors. He has never built a business of lasting value, though has chalked up an impressive list of failures.
He can't raise institutional capital as that community seems reluctant to lend to convicted criminals. He's also been an undischarged personal bankrupt for over ten (10) years. Seems like you can find signs of fraud everywhere you look inside this enterprise.
Funny, but Laliberte and his now very small team (3 bodies I'm told) haven't accomplished anything this past year and they're afraid to report on it. Nothing reported in Pink disclosure or financials in over a year! If the news was good or even just favorable they'd report it so draw your own conclusions.
There's no future and no upside for UAMA and you can take that to the bank! /b]
Never forget! UAMA CEO found guilty 41 counts!
https://lautorite.qc.ca/en/general-public/media-centre/news/fiche-dactualites/jitec-benoit-laliberte-guilty-on-41-counts-1/
Learn how insignificant UAMA actually is!
Other posters would have you believe UAMA can ride cryptocurrency mining wave!
Don't believe it! UAMA is a non-event and truly insignificant.
Their High School science class cooling system is POS. It doesn't add to the financial upside enough to make any difference.
To understand where UAMA stands on a list of the world's biggest miners take a look at that the list on page 15 of the linked presentation. Notably there are at least two Quebec-based miners on the list though neither is UAMA.
https://www.hiveblockchain.com/investors/presentation/
Seems like the fraud continues with UAMA et al and not surprised the Chairman exited.
UAMA a lightweight hobby miner!!!
BS posters would have you believe that UAMA is a "player". They aren't and nothing could be further from the truth.
Compared to other Canadian companies like HIVE (TSXV) UAMA is a lightweight!
The name of the game is to get cheap "green power" and build and operate as many miners as you can. Not older equipment but the latest, fastest and most powerful processors. The HIVE You TUbe video does a good job of explaining the need and showing how its done!
After watching this you'll quickly come to understand that what UAMA is doing is just "ego fodder" for Benoit Laliberte who likely has a clever and talented mind, though has gotten carried away with his focus on patents. Note that after four (4) years UAMA has not succeeded in any patent litigation or signed any licensing agreements. That's been a total failure and indicative of the lack of inherent value in the patents.
All same with TNW Wireless Inc. Mr. Laliberte believed that he had patentable intellectual property that was going to transform the wireless industry. Instead of building on "market ready" RuralCom he chose to pursue the POS iPCS technology. That has also completely failed.
Think about it though. RuralCom was "market-ready" and the former CEO of RuralCom had investors ready to invest, the kind that had already issued term sheets to the Company. Lalilberte's ego got in the way and he decided to bet it all on unproven technology that nobody in the wireless industry cared enough about to even trial it.
IF, Mr. Laliberte had simply moved ahead with RuralCom, built on the roaming agreements already in place with all the major US carriers and agreements in negotiation with the Canadian Carriers, that business would be generating $40-60M per year by now with 40-60% EBITDA.
Compare UAMA mining with others in Quebec.
Others like HIVE (TSXV) whose stock is trading at approximately 10 times UAMA POS.
Seems like HIVE knows how to make money mining without the silly BS underground cooling. Its about building scale as fast as you can with the most miners you can. No points given or higher stock value for High School science experiments and violating local land-use regulations in Quebec.
Don't know much about HIVE though don't care as they know how to do it and their "hockey stick" stock chart is strong evidence.
Meanwhile UAMA is in a "world-of-hurt" under Benoit Laliberte, the convicted criminal CEO (says THE Canadian Press). In aftermath of $47M bankruptcy of Teliphone-Navigata-Westel there's nothing left of former operations and company can't easily access expansion capital with convicted criminal CEO and recent bankruptcy.
All the makings of a truly bleak future for UAMA.
CAVEAT EMPTOR!
UAMA sinking out of sight! Mining all wrong!
Compare UAMA's feeble mining efforts with that of HIVE (TSXV).
UAMA sinking fast and no reports in over a year.
HIVE proving that, properly run, cryptocurrency mining can be very successful.
Like TNW Wireless Inc., UAMA another Laliberte-run FAILURE in deep state of erosion.
Bleak future seen for UAMA!
Legal counsel(s) heading for the door!
TNW Wireless cellular network inoperative for over two (2) years, no roaming agreements and no subscribers.
iPCS technology a non-starter with no working prototype and no marquis customers after years of touting this worthless POS that has made TNW Wireless Inc. the laughing stock of the Canadian wireless industry.
Patent litigation has produced nothing in over four (4) years! No court awards and no licensing agreements. A total waste of money and management focus.
Last chapter of anti-trust litigation being written and seems headed in same direction.
Miners were the only source of significant revenue and after Court-ordered shut-down in Quebec there are rumors that Woodland cancelled their agreement with UAMA et al and gave them the miners to avoid any liability from operating in contempt. Same sources in Quebec say UAMA (Laliberte) miners are "small-potatoes" even in the Quebec scene. There are "big miners" in Quebec though that list does not include UAMA et al.
The $47M bankruptcy of Teliphone-Navigata-Westel in combination with the convicted criminal status (per The Canadian Press) of Mr. Benoit Laliberte, UAMA President, CEO and CFO has really killed any upside for UAMA. Bankruptcy has completely GUTTED the asset and employee base of the largest operations of UAMA, Investel et al.
Those conditions make it all but impossible for UAMA et al to attract capital investment or to borrow, all highly predictive of a bleak future for UAMA.
All signs indicate working capital shortage!
Legal counsel(s) heading for the door!
TNW Wireless cellular network inoperative for over two (2) years, no roaming agreements and no subscribers.
iPCS technology a non-starter with no working prototype and no marquis customers after years of touting this worthless POS that has made TNW Wireless Inc. the laughing stock of the Canadian wireless industry.
Miners were the only source of significant revenue and after Court-ordered shut-down in Quebec there are rumors that Woodland cancelled their agreement with UAMA et al and gave them the miners to avoid any liability from operating in contempt. Same sources in Quebec say UAMA (Laliberte) miners are "small-potatoes" even in the Quebec scene.
The $47M bankruptcy of Teliphone-Navigata-Westel in combination with the convicted criminal status (per The Canadian Press) of Mr. Benoit Laliberte, UAMA President, CEO and CFO has really killed any upside for UAMA. Bankruptcy has completely GUTTED the asset and employee base of the largest operations of UAMA, Investel et al.
Those conditions make it all but impossible for UAMA et al to attract capital investment or to borrow, all highly predictive of a bleak future for UAMA.
Counsel exit for non-payment? Familiar?
Seems Singh LaMarche took same action. Makes us remember words of Supreme Court of BC justice who went on record suggesting that MR. LALIBERTE did this routinely!
Counsel for UAMA successfully exits!
PAPERLESS ORDER granting [165] Motion to Withdraw as Attorney. Michael O. Mena representing United American Corp. (Plaintiff) withdrawn from case. Signed by Magistrate Judge Chris M. McAliley on 12/15/2020. (rr00)
OTC Markets says Caveat Emptor on UAMA
UAMA dead, Dark or Defunct.
OTC Markets “Skull & Crossbones” flag up.
Seriously delinquent filer. No reports in over a year!
AMF Cease Trade Order
Announcement | 03/26/2020
DECISION No 2020-IC-0005
File No. 43804
March 26, 2020
Cease Trade Order
United American Corp. (the "Issuer") is a reporting issuer of the over-the-counter market in Quebec subject to Regulation 51-105 on issuers listed on over-the counter markets American, CQLR, c. V-1.1, r. 24.1 ("Regulation 51-105");
The issuer has failed to file with the Autorite des marches financiers (the "Authority") the documents and information required under section 73 of the Securities Act, CQLR, c. V-1.1 (the "Law") and section 5 of Regulation 51-105 (the "default");
Given the failure of the issuer to remedy the default on the date of this decision;
Considering Articles 265, 267 and 318 of the Law;
Given the powers delegated in accordance with article 24 of the Law on the supervision of the sector financial, RLRQ, c. E-6.1.
Consequently, the Authority:
banned United American Corp. and its securityholders, brokers and their representatives, as well as to any other person, any activity related to operations on values of the reporting issuer in the over-the-counter market because the latter did not in compliance with the obligations set out in Regulation 51-105.
The Authority may revoke this decision under section 318 of the Act if the issuer remedy the default satisfactorily.
Martin Latulippe
Continuous Information Director
OGI / ale
Original (French
Bankruptcy of core business has killed UAMA.
First filed in November 2016 it is still open due to Covid-19 court delays. To date Supreme Court of BC has ordered sale of all assets to Distributel and that transaction closed with all employees going to the new owner.
This a major bankruptcy with $47M in debts and sale of business assets has gutted UAMA and left a pile of legal fees and potential indictment of UAMA CEO for failing to remit employee payroll deductions. Still to be resolved is written threats made in an e-mail to an Officer of the Court by Benoit Laliberte, UAMA CEO.
All of this material information not reported in quarterly or annual reports!
Bankruptcy of core business has killed UAMA.
First filed in November 2016 it is still open due to Covid-19 court delays. To date Supreme Court of BC has ordered sale of all assets to Distributel and that transaction closed with all employees going to the new owner.
This a major bankruptcy with $47M in debts and sale of business assets has gutted UAMA and left a pile of legal fees and potential indictment of UAMA CEO for failing to remit employee payroll deductions. Still to be resolved is written threats made in an e-mail to an Officer of the Court by Benoit Laliberte, UAMA CEO.
All of this material information not reported in quarterly or annual reports!
Complicit posters promote fraud. UAMA has FAILED!
To predict UAMA future look at past FAILS!
Rich history of failures at UAMA et al:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
- Rumored end to anti-trust litigation against Bitmain et al, predictably failed
Mr. Benoit Laliberte has never built a business of lasting value. He's been found guilty of 44 counts of stock fraud, market manipulation and deceiving investors.
$47M bankruptcy has GUTTED UAMA! Active case!
First filed in late 2016, this bankruptcy has stripped UAMA, Investel, et al of essentially all assets and employees as Court ordered sale of Teliphone-Navigata-Westel to Distributel and they took employees as well as assets.
This case, still before the Court in British Columbia, has seen Benoit Laliberte threatening an Officer of the Court (in writing) and then there's the not so small matter of the failure to remit employee withholdings to the CRA. It's not clear if these will bring indictments against Mr. Laliberte so we'll just need to wait and see.
To predict UAMA future look at past FAILS!
Rich history of failures at UAMA et al:
- $47M bankruptcy of Teliphone-Navigata-Westel, UAMA et al's largest brick and mortar telecom
- Personal bankruptcy disclosure of Benoit Laliberte, UAMA CEO
- Quebec Court-ordered shut-down of crypto-currency miners
- Failure of TNW Wireless, no operational network, no subscribers, no roaming agreements
- Failed patent litigation and zero licencing revenue from issued patents
- Many, many "patent pending" claims now moot as likely rejected by USPO
- Rumored end to anti-trust litigation against Bitmain et al, predictably failed
Mr. Benoit Laliberte has never built a business of lasting value. He's been found guilty of 44 counts of stock fraud, market manipulation and deceiving investors.
Leading Canadian Law Firm says UAMA CEO guilty!
https://www.fasken.com/en/solution/clientwork/2008/08/expresident-of-jitec-fined-nearly-us900000-for-insider-trading-and-fraudulent-transactions/
The evidence does not lie and these facts were never properly disclosed in US public filings, nor was the fact that Mr.Benoit Laliberte, UAMA CEO has been an undischarged bankrupt for over 10 years.
Given these facts is UAMA a criminal enterprise???
Canadian Press says Benoit Laliberte convicted criminal. The Supreme Court deaf to the cause of Benoît Laliberté
Worth noting that if, at the time, Benoit Laliberte, UAMA CEO had been tried in another Canadian Province he would have gone to JAIL
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!
Yes UAMA crushed! Not active miner!
Quebec Court ordered UAMA et al to shut-down miners and restore land to agricultural use only.
UAMA would be operating in contempt of Court if they were mining!
No Pink disclosures in over a year so EXPECT the Worst!
Laliberte has never built a company of lasting value!
Is UAMA a criminal enterprise?
Benoit Laliberte, UAMA President, CEO and CFO was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors?
What kind of company has a convicted criminal as chief executive?