United American Corp. (UAMA)

[65actual]

Tribunal ordered shut-down of UAMA operations!

Likely continuing to operate in direct violation of shut-down order. REVENUES AT RISK?

Blockdomes to be shut down! Huge financial impact. Faced with cost to remove the equipment and restore structures to primary agricultural use or move them. Hmm! Mortgage at 16% and land bought not leased so big problem. Who builds without clear approvals? Just another example of the arrogant and incompetent management team who has never built a business of lasting value. There's always a glitch in everything they do since it is not about building a business of lasting value but defrauding investors through clever manipulation of the facts and failures to properly disclose information to the SEC and shareholders.

Violation of land-use regulations. Here is the case according to the press

Note the last paragraph below. They know who he is and you can bet the Court and Land-Use Agency wants no part of approving any project he is leading. CPTAQ knows who they are dealing with and it should be a concern of every investor or shareholder.

Published May 16, 2019
LeCourrier newspaper
St. Hyacinthe, Quebec

Order upheld against Benoit Laliberté
"Benoit Laliberté, a creator of cryptocurrency (virtual currencies) installed in a green zone in Sainte-Marie-Madeleine, has failed in his attempt to cancel the order issued by the Commission for the Protection of Agricultural Lands of Quebec (CPTAQ) against him in July 2018.

The Administrative Tribunal of Québec (TAQ), in a decision rendered on April 25, rejected his appeal and upheld the CPTAQ's order. Benoit Laliberté therefore remains obliged to cease using for other purposes than agriculture the lot located at 1560 Petit Rang Road in Sainte-Marie-Madeleine, and owned by the Équi-Folie Equestrian Center, and must remove all equipment installed.

As the Tribunal explains in its decision, the business of Mr. Laliberté, United American Corp. (Blockchain Data Centers), has on this lot a dome housing 1000 ASIC-type logic boards, modules that provide the computational capacity necessary for the production of cryptocurrencies like Bitcoin, following the technology of the "chain of blocks". So far, in fact, four domes have been erected on the site of Chemin Petit Rang and they would contain, according to the municipality, some 5500 servers in total.

"Each module generates about 5000 BTUs of heat per hour, but consumes 1500 watts of electricity. This heat is propagated in the BlockchaineDomes and is blown to a greenhouse built immediately next to the dome, in which tomatoes were grown during the last year, "reads the decision of the TAQ.

Since he intends to use the large amount of heat produced by the servers to grow greenhouse tomatoes all year round, Benoit Laliberté has always insisted on the agricultural character of his Sainte-Marie-Madeleine project.

But both the TAQ and the CPTAQ consider that, in fact, greenhouse culture is an activity incidental to the mining of cryptocurrency, the goal sought according to them. "BlockchaineDomes is the main use of the lot. This is a commercial activity that contravenes section 26 [of the Act respecting the protection of agricultural land and agricultural activities], "says administrative judge Mario St-Pierre.

This highlights the fact that the dome containing the servers occupies a space of 8400 square feet, against only 1400 square feet for the existing greenhouse. He also found that the "Canadian wells" that generate fresh air to ventilate the modules - a network of 2,600 feet of duct buried eight feet into the ground - are of no use. for greenhouse cultivation.

Interviewed by Radio-Canada, Benoit Laliberté said he intended to "fight heart and soul" to succeed in this case, he wants to create other similar facilities - "campuses" As he calls them - to Saint-Pie and Marieville. He has already filed a motion in the Quebec Court for leave to appeal the decision of the TAQ.

Benoit Laliberté had talked a lot about him in the early 2000s in the Jitec case. He had been found guilty of 41 Securities Act offenses for tax evasion and insider trading and had to pay fines totaling more than $ 1 million."