UAMA "gutted" by bankruptcy!
Said it on many occasions. "At UAMA, the illusion of success is our most important product". And illusion it is! Look back at all the grandiose press releases and note how most turned out to be mere fabrications! No substance at all.
All seems to have caught up with these fraudsters and you can safely presume that there is good reason that they have not filed Pink disclosures or financials for over a full year. Last reported quarter was 3Q-2019 (calendar).
Consider the following list of failures and heed CAVEAT EMPTOR warning and OTC Markets label of "Dark or Defunct".
1) Unannounced $47M bankruptcy of biggest brick & mortar telecom assets of UAMA, Investel et al. No wonder why Chairman Cote resigned,
2) Total failure of TNW Wireless Inc! For Investel et al (including Laliberte) they set themselves up as experts in telecom and capable of consolidating and building bigger entities. In case of RuralCom they bought (nobody forced them!) a market-ready wireless carrier with negotiated roaming agreements at very favorable rates and a working 3G network. Former CEO had financing arranged but Laliberte's ego too big and thought he'd do end run. Fired the CEO and potential sources of capital showed him the door when he tried end-run. After nearly four (4) years TNW Wireless Inc. has totally failed. If the plan sold to investors by previous RuralCom CEO had gone forward would be $40-60M annual rev. and 40-60% EBITDA and that would have propelled UAMA stock to real solid new highs.
3)Cryptocurrency mining is likely dead or generating so little revenue that reporting the results would totally tank UAMA stock. Blockchain Domes is a sophomoric High School level science project. UAMA's mining business not even on the radar of biggest miners in Quebec let alone Canada, North American or the world.
4) The entire "patent initiative" at UAMA has produced zero results! Actually less if you consider the wasted money and management time devoted to trying to win patent litigation or gain licensing revenue. UAMA et al and Laliberte in particular have failed here as well.
5) Predictably the much publicized anti-trust litigation in Florida has gone nowhere. It was a total waste of time and money! Key litigator for UAMA et al quit the case at the end of December 2020. Chalk up another fail for Laliberte.
Look back at Benoit Laliberte's track record not the fabricated Wikipedia version. The facts are simple. Benoit Laliberte is a convicted criminal according to The Canadian Press and he was found guilty of 44 counts of Stock Fraud, Market Manipulation and Deceiving Investors. He has never built a business of lasting value, though has chalked up an impressive list of failures.
He can't raise institutional capital as that community seems reluctant to lend to convicted criminals. He's also been an undischarged personal bankrupt for over ten (10) years. Seems like you can find signs of fraud everywhere you look inside this enterprise.
Funny, but Laliberte and his now very small team (3 bodies I'm told) haven't accomplished anything this past year and they're afraid to report on it. Nothing reported in Pink disclosure or financials in over a year! If the news was good or even just favorable they'd report it so draw your own conclusions.
There's no future and no upside for UAMA and you can take that to the bank!
AI
