United American Corp. (UAMA)

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Deep due diligence needed with UAMA. Fact: Highly touted parent company, Investel Capital Corporation is in Receivership and all key assets including patents and licences in hands of Receiver to satisfy security agreements held by Bond Capital. Former largest operating subsidiary still in bankruptcy owing $47M and operating assets of that sub sold to satisfy some creditor claims. All these legal losses have hollowed out the various shells, number companies to the point where UAMA now has NO REVENUES, no working capital and an accumulated deficit of over $5M.