United American Corp. (UAMA)

[fromtheuk]

More to the point

United American Corporation management now proposes
to spin-off Teliphone. To complete the spin-off, management proposes to
distribute Teliphone's 25,737,785 shares of common stock on a pro rata basis to
its shareholders.

Uamas current float is about 49,969,985 (last 10Q)

so we get 0.515 shares of Teliphone (.25) for every UAMA share

(approx value for each uama share is about .12) double the current share price.

assuming i have not missed the obvious. in 180 days (assuming the investment is successful) We win.

I did not have time to see when the shareholders on record would be taken so I am assuming it's effectively today. (But on this i could be wrong), however today or the original date way back will be fine. Although thinking about it i don't suppose a future date would be bad as long as UAMA dosn't dilute in the mean time.

Rig, where have i gone wrong ????. Have I over simplified this.

Interesting times