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For the record, UAMA could have been saved!
Should have left RuralCom CEO in place as he had pocket full of term sheets, which RuralCom Board of Directors were fully aware of. Working 3G cell sites with VSAT backhaul in rural Canada were a first-of-breed and worked from the get-go. Thanks to Gilat.
Had signed and executed inter-carrier roaming agreements in place with all major US carriers and in final negotiations with Bell Canada. These agreements captured by the CEO at a time when he was not being paid. In fact, RuralCom CEO took last paycheck in late 2009 when lead investor decided to ignore signed and fully executed private placement agreements first signed in 2006-2007 time frame. My peers in the industry told me to abandon the ship when Employment Agreement first violated, though he chose to stay the course.
In 2017 best Laliberte, UAMA CEO could come up with was stupid JV agreement which no wireless CEO would have signed. Ask me nice and I'll publish it. It clearly illustrates his lack of abilities to attract and retain key personnel.
So RuralCom was market-ready with access to capital, a proven CEO with crews and contacts and the technical smarts to get a 3G cellular network built at lowest cost.
Under his leadership RuralCom (later TNW Wireless) could have been up and fully operational and generating enough revenue to reach positive cash-flow in less than a year. A lean-mean wholesale wireless carrier like Commnet Wireless LLC. UAMA could have been built to $40-60M in annual revenue earning 40-60% EBITDA as a wholesale cellular carrier in rural Canada.
Never happened because Laliberte was never about excellence or building a business. His focus on his own ego and took the complicit posters for a ride.
LOL funny to read 3 years moderator posts.
Assembled and categorized for SEC Complaint.
Never any negative views of UAMA despite overwhelming facts.
Never any suggestions on improving the business or recognizing the obvious problems and communicating to management.
Why you ask?
UAMA now worthless and well-earned demise.
For years, a predictable failure.
The signs were always there. Little cash for years, no access to institutional capital after firing the original RuralCom CEO. Funny how institutional money abhors a CEO (Laliberte) with convicted criminal CEO status.
Under these circumstances it was doomed and that was evident to anyone with experience running a high-tech business.
Funny that those complicit posters, including a moderator, couldn't deal with the facts.
In the end the company and management received the ultimate vote of non-confidence.
UAMA a predictable failure.
The signs were always there. Little cash for years, no access to institutional capital after firing the original RuralCom CEO. Funny how institutional money abhors a CEO (Laliberte) with convicted criminal CEO status.
Under these circumstances it was doomed and that was evident to anyone with experience running a high-tech business.
Funny that those complicit posters, including a moderator, couldn't deal with the facts.
In the end the company and management received the ultimate vote of non-confidence.
Year(s) in review, a predictable failure.
The signs were always there. Little cash for years, no access to institutional capital after firing the original RuralCom CEO. Funny how institutional money abhors a CEO (Laliberte) with convicted criminal CEO status.
Under these circumstances it was doomed and that was evident to anyone with experience running a high-tech business.
Funny that those complicit posters, including a moderator, couldn't deal with the facts.
In the end the company and management received the ultimate vote of non-confidence.
IP litigation was a disaster, never got any traction.
Wireless technology a joke and never worth anything.
Blockdomes a sophomoric high-school experiment which only served to piss off the local land-use Tribunal. In the end they'll be forced to shut it down or move it. Likely generate more money as a hobby farm.
What ever happened to BS news issued April 2021 re MVNO opportunity?
Talk about FAKE NEWS!
Fake from the start and for duration.
LOL that Bert and Ernies (Laliberte & Trvevor-Deutsch) only fooled the complicit posters.
CRTC had them pegged from the start, ditto Industry Canada (ISED).
Potential wireless investors showed them the door!
Fakers!
Litigation all failed. Especially defamation.
Law firm filed suit agains Laliberte for non-payment.
LOL
UAMA crypto mining another bust!
UAMA Wireless strategy a total fail.
UAMA 3Q Financials now well overdue.
Filed for extension then missed promised date!
Surprised?
Complicit posters engaged in fraud. SEC?
For years they supported this POS fraudulent company and its convicted criminal CEO, Benoit Laliberte. They thought he was wonderful which says a lot for the value of their advice and their ability to effectively assess management potential. My guess most suffer from their own character foibles. CAVEAT EMPTOR should have been the byword for any involvement with UAMA et al.
But they went further than simple cheerleading choosing to attack other posters exposing the actual facts and evidence. The materials passed on to the SEC clearly show a pattern of personal threats and harassment of the former CEO of RuralCom Corporation. In the end UAMA was exposed for the fraud that it is and it has obviously failed. No trades and no quotes. Dark or defunct. In the end the truth won out.
Guess some are super embarrassed over their behavior and they sought to support this obviously fraudulent enterprise led by a CEO who was convicted on 43 counts of stock fraud, market manipulation and deceiving investors.
Maybe those former cheerleaders could come out of the shadows and explain what motivated them to trade in the obvious lies and misrepresentation of the facts.
Fact is the business has been capital challenged for years and following the CCAA Proceedings (bankruptcy in Canada) which began in November 2016 they couldn't raise any capital due to the convicted criminal status of the CEO. If Laliberte had any brains he would have brought in someone that knew what they were doing. But his ego too big for that and at the end of the day his only interest was in creating "the illusion of progress".
UAMA biggest blunder was after acquiring RuralCom, a market-ready wholesale cellular carrier with roaming agreements and a CEO who had brought in term sheets from qualified investors, they chose to "go it alone", chase the potential funding and fall flat on their face. Funny how those investors got scared off by the convicted criminal status of Benoit Laliberte and quickly showed him the door!
Fact is RuralCom could have quickly be built into a successful wholesale cellular carrier enjoying positive cash-flow status. Huge missed opportunity!
Complicit posters should be held accountable.
For years they supported this POS fraudulent company and its convicted criminal CEO, Benoit Laliberte. They thought he was wonderful which says a lot for the value of their advice and their ability to effectively assess management potential. My guess most suffer from their own character foibles. CAVEAT EMPTOR should have been the byword for any involvement with UAMA et al.
Guess some are super embarrassed over their behavior and they sought to support this obviously fraudulent enterprise led by a CEO who was convicted on 43 counts of stock fraud, market manipulation and deceiving investors.
Maybe those former cheerleaders could come out of the shadows and explain what motivated them to trade in the obvious lies and misrepresentation of the facts.
Fact is the business has been capital challenged for years and following the CCAA Proceedings (bankruptcy in Canada) which began in November 2016 they couldn't raise any capital due to the convicted criminal status of the CEO. If Laliberte had any brains he would have brought in someone that knew what they were doing. But his ego too big for that and at the end of the day his only interest was in creating "the illusion of progress".
UAMA biggest blunder was after acquiring RuralCom, a market-ready wholesale cellular carrier with roaming agreements and a CEO who had brought in term sheets from qualified investors, they chose to "go it alone", chase the potential funding and fall flat on their face. Funny how those investors got scared off by the convicted criminal status of Benoit Laliberte and quickly showed him the door!
Fact is RuralCom could have quickly be built into a successful wholesale cellular carrier enjoying positive cash-flow status. Huge missed opportunity!
Complicit posters engaged in fraud.
For years they supported this POS fraudulent company and its convicted criminal CEO, Benoit Laliberte. They thought he was wonderful which says a lot for the value of their advice and their ability to effectively assess management potential. My guess most suffer from their own character foibles. CAVEAT EMPTOR should have been the byword for any involvement with UAMA et al.
Guess some are super embarrassed over their behavior and they sought to support this obviously fraudulent enterprise led by a CEO who was convicted on 43 counts of stock fraud, market manipulation and deceiving investors.
Maybe those former cheerleaders could come out of the shadows and explain what motivated them to trade in the obvious lies and misrepresentation of the facts.
Fact is the business has been capital challenged for years and following the CCAA Proceedings (bankruptcy in Canada) which began in November 2016 they couldn't raise any capital due to the convicted criminal status of the CEO. If Laliberte had any brains he would have brought in someone that knew what they were doing. But his ego too big for that and at the end of the day his only interest was in creating "the illusion of progress".
UAMA biggest blunder was after acquiring RuralCom, a market-ready wholesale cellular carrier with roaming agreements and a CEO who had brought in term sheets from qualified investors, they chose to "go it alone", chase the potential funding and fall flat on their face. Funny how those investors got scared off by the convicted criminal status of Benoit Laliberte and quickly showed him the door!
Fact is RuralCom could have quickly be built into a successful wholesale cellular carrier enjoying positive cash-flow status. Huge missed opportunity!
LOL, complicit posters long gone!
For years they supported this POS fraudulent company and its convicted criminal CEO, Benoit Laliberte. They thought he was wonderful which says a lot for the value of their advice
Guess some are super embarrassed over their behavior and they sought to support this obviously fraudulent enterprise led by a CEO who was convicted on 43 counts of stock fraud, market manipulation and deceiving investors.
Maybe those former cheerleaders could come out of the shadows and explain what motivated them to trade in the obvious lies and misrepresentation of the facts.
Fact is the business has been capital challenged for years and following the CCAA Proceedings (bankruptcy in Canada) which began in November 2016 they couldn't raise any capital due to the convicted criminal status of the CEO. If Laliberte had any brains he would have brought in someone that knew what they were doing. But his ego too big for that and at the end of the day his only interest was in creating "the illusion of progress".
UAMA biggest blunder was after acquiring RuralCom, a market-ready wholesale cellular carrier with roaming agreements and a CEO who had brought in term sheets from qualified investors, they chose to "go it alone", chase the potential funding and fall flat on their face. Funny how those investors got scared off by the convicted criminal status of Benoit Laliberte and quickly showed him the door!
Fact is RuralCom could have quickly be built into a successful wholesale cellular carrier enjoying positive cash-flow status. Huge missed opportunity!
Is Benoit Laliberte, UAMA CEO repeat offender?
UAMA CEO knowingly committed fraud in SEC filing!
Here are the facts:
- Benoit Laliberte signs filings as President, CEO and CFO of UAMA
- Claims "NO violations in past 10 years" in Pink reports of YE 2018, Q1 2019, Q2 2019
- Court found him guilty v AMF in April 2009 on additional 3 counts in addition to convictions on 41 counts in 2008
- Evidence clear on convictions within past 10 years at time of filings.
- Convictions were stated by The Canadian Press as "stock fraud", "market manipulation" and "deceiving investors"
Look it up yourself:
• go to OTC Markets
• enter UAMA in "Quote" field
• when UAMA page opens click on "Disclosure" heading where you will find all reports and financials
It is clear. Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Seems like he is "repeat offender"
Complaints have been filed with the SEC
UAMA CEO guilty of FRAUDULENT MISREPRESENTATION?
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 YE 2018 and 1Q & 2Q 2019 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.
Quote:
U.S. SECURITIES AND EXCHANGE COMMISSION
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 quantity 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 failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Expect the SEC to take all of this into consideration when they get around to appropriate prosecution.
All of this will be devastating to UAMA and shareholders. Like INELCO and TELIPHONE both revoked by SEC? Mr. Benoit Laliberte and Mr. Lawry Trevor-Deutsch both deeply involved in the pleadings for those failures.
caveat emptor - CAVEAT EMPTOR
Attention SEC: Prosecute UAMA CEO
UAMA CEO knowingly committed fraud in SEC filing!
Here are the facts:
- Benoit Laliberte signs as President, CEO and CFO of UAMA
- Claims "no violations in past 10 years" in Pink reports of YE 2018, Q1 2019, Q2 2019
- Court found him guilty v AMF in April 2009 on additional 3 counts
- Evidence clear of convictions within past 10 years at time of filings.
So Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Complaints have been filed with the SEC.
UAMA CEO knowingly committed fraud in SEC filings!
Here are the facts:
- Benoit Laliberte signs as President, CEO and CFO of UAMA
- Claims "no violations in past 10 years" in Pink reports of YE 2018, Q1 2019, Q2 2019
- Court found him guilty v AMF in April 2009 on additional 3 counts
- Evidence clear of convictions within past 10 years at time of filings.
So Mr. Benoit Laliberte did knowlingly commit fraud in these UAMA reports.
Complaints have been filed with the SEC.
Attention SEC. Prosecute Benoit Laliberte,
Evidence supports conviction of UAMA CEO.
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. (See YE 2018 disclosures and Q1 and Q2 2019 disclosure reports). 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.
Quote:
U.S. SECURITIES AND EXCHANGE COMMISSION
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 quantity 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 failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Expect the SEC to take all of this into consideration when they get around to appropriate prosecution.
All of this will be devastating to UAMA and shareholders. Like INELCO and TELIPHONE both revoked by SEC? Mr. Benoit Laliberte and Mr. Lawry Trevor-Deutsch both deeply involved in the pleadings for those failures.
caveat emptor - CAVEAT EMPTOR
SEC needs to prosecute Benoit Laliberte, UAMA CEO
Evidence supports conviction of UAMA CEO.
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. (See YE 2018 disclosures and Q1 and Q2 2019 disclosure reports). 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.
Quote:
U.S. SECURITIES AND EXCHANGE COMMISSION
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 quantity 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 failed to properly disclose $47M bankruptcy of Navigata-Westel and receivership of Investel Capital Corp. Expect the SEC to take all of this into consideration when they get around to appropriate prosecution.
All of this will be devastating to UAMA and shareholders. Like INELCO and TELIPHONE both revoked by SEC? Mr. Benoit Laliberte and Mr. Lawry Trevor-Deutsch both deeply involved in the pleadings for those failures.
caveat emptor - CAVEAT EMPTOR
SEC should prosecute Benoit Laliberte.
Falsified SEC disclosure docs when he submitted signed and executed claiming NO CRIMINAL CONVICTIONS within 10 years.
Abundant evidence of Mr. Laliberte's convictions during the time period fro stock fraud, market manipulation and deceiving investors.
Prosecute him!
Benoit Laliberte, CEO falsified SEC Reports!
UAMA CEO falsified SEC disclosure documents!
Benoit Laliberte, CEO incompetence killed UAMA
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was very lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings of Teliphone-Navigata-Westel (TNW) and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte. Remarkable comment on business ethics.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom in 2019. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The RuralCom CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with a track record that confirms his incompetence. Predictably UAMA et al has failed.
Seems UAMA failed to file. Likely dead now!
See OTC Markets - UAMA
Dead or defunct.
TAAL, Riot or Hut 8?
Hut 8's the powerhouse!
UAMA has totally failed! No upside!
The history, the bankruptcy of Telephone-Navigata-Westel have all revealed evidence that the business was run by incompetents, without result. Court records have revealed Mr. Benoit Laliberte was a convicted criminal and his very presence made it impossible to raise outside capital.
The purchase of market-ready RuralCom could have been the salvation for UAMA if they had kept the RuralCom CEO and the financing commitments that he had arranged. That business could be $40-60M in revenues with 40-60% EBITDA today if the UAMA CEO hadn't let his ego get in the way.
Litigation has failed on all fronts.
TNW Wireless a non-starter and has made no meaningful progress in 2021. Big talk on becoming an MVNO but TNW Wireless does not have the industry knowledge, talent, contacts, experience or capital to emerge as a viable MVNO. As someone who built the largest cellular resale business in the US, I can say with great confidence that there is no way TNW Wireless will ever emerge as a viable MVNO.
Blockdomes or whatever they call the sophomoric crypto-currency mining business is troubled and likely just a matter of time before the Quebec Tribunal forces the shutdown and relocation of those facilities, which UAMA acknowledges will be very costly. As miners go Blockdomes not even on the radar in Quebec, let alone the rest of Canada. Cetaq, UAMA et al not even close to being a Hut 8.
Facts don't suggest any future for this fraudulent enterprise. Benoit Laliberte, UAMA CEO is a convicted criminal found guilty of 44 counts of stock fraud, market manipulation and deceiving investors according to The Canadian Press. BC Supreme Court documents reveal he has been an undischarged bankrupt for over ten (10) years. This kind of background makes it impossible for UAMA to raise expansion capital.
Finally, the CCAA Proceedings and subsequent court-approved sale of the Teliphone-Navigata-Westel assets to Distributel have completely gutted UAMA, Investel, etc. The employees and talent base went with the assets to Distributel. There's nothing left!
UAMA - United American Corp
FINISHED
Benoit Laliberte, CEO incompetence killed UAMA
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was very lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings of Teliphone-Navigata-Westel (TNW) and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte. Remarkable comment on business ethics.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom in 2019. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The RuralCom CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with a track record that confirms his incompetence. Predictably UAMA et al has failed.
Benoit Laliberte, record of mediocrity and fraud.
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with an unremarkable track record. Predictably the past is the best clue to the future of UAMA and it is bleak!
UAMA missed opportunities, failed leadership
Benoit Laliberte, record of mediocrity and fraud.
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with an unremarkable track record. Predictably the past is the best clue to the future of UAMA and it is bleak!
United American Corp (UAMA)
FINISHED
UAMA et al assets gutted by CCAA Proceedings.
Read it all in 19th Report linked below:
Reference:
https://documentcentre.ey.com/api/Document/download?docId=34127&language=EN
Distributel picked up the pieces and apparently running a going concern, something that Laliberte et al couldn't do.
The bottom line is CCAA Proceedings gutted the asset base and all the employees long gone.
UAMA is worthless!
UAMA is finished! No upside!
Litigation has failed on all fronts.
TNW Wireless a non-starter and has made no meaningful progress in 2021. Big talk on becoming an MVNO but TNW Wireless does not have the talent, contacts, experience or capital to emerge as a viable MVNO. As someone who built the largest cellular resale business in the US, I can say with great confidence that there is no way TNW Wireless will emerge as a viable MVNO.
Blockdomes or whatever they call the sophomoric crypto-currency mining business is troubled and likely just a matter of time before the Quebec Tribunal forces the shutdown and relocation of those facilities, which UAMA acknowledges will be very costly. As miners go Blockdomes not even on the radar in Quebec, let alone the rest of Canada. Cetaq, UAMA et al not even close to being a Hut 8.
Facts don't suggest any future for this fraudulent enterprise. Benoit Laliberte, UAMA CEO is a convicted criminal found guilty of 44 counts of stock fraud, market manipulation and deceiving investors according to The Canadian Press. BC Supreme Court documents reveal he has been an undischarged bankrupt for over ten (10) years. This kind of background makes it impossible for UAMA to raise expansion capital.
Finally, the CCAA Proceedings and subsequent court-approved sale of the Teliphone-Navigata-Westel assets to Distributel have completely gutted UAMA, Investel, etc. The employees and talent base went with the assets to Distributel. There's nothing left!
LOL and funny to read comments.
How many commenters have built a company or completed a successful turnaround?
AITX could be the real deal!