United American Corp. (UAMA)

[65actual]

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.