UAMA falling apart on all fronts! No news!
Management doesn't dare tell you the truth!
Factual basis:
1) $47M bankruptcy of Teliphone-Navigata-Westel, the largest brick and mortar telecom operating portion of the business, has resulted in a total gutting of the assets and employee base. There's nothing left but a mountain of unpaid bills. Case still before the Supreme Court of BC over four (4) years later.
2) Benoit Laliberte has been, according to Court Records in the aforementioned bankruptcy proceedings, an undischarged bankrupt for over ten (10) years. He's the President, CEO and CFO of UAMA, which in itself, should raise plenty of questions. Remember this is the same individual that was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors
3) TNW Wireless Inc. has totally failed and become the laughing stock of the Canadian wireless industry. TNW Wireless Inc. has no working cellular network, no roaming agreements, no subscribers and no revenue or earnings. Expect ISED Canada to revoke the spectrum licences if that hasn't been done already.
4) A Quebec Court has ordered that the Blockdomes or crypto-currency mining operations be shut-down and the land returned to pure agricultural use. UAMA et al appealed and the Court upheld the earlier ruling. It is believed that the customer (Woodland?) has cancelled the agreement with UAMA et al and early last year gave title to the old miners to UAMA.
5) Much is made of the patents and intellectual property of UAMA et al but a closer look reveals that it's mostly fraudulent claims. Look back at claims of "patents pending" then silence. No new patent awards spoken of and no admission that patent applications rejected. Better yet follow the money. Have you read or heard of any Court awards in patent litigation. There are none to be found. Have you read or heard of any technology licences issued? None have been found. You can safely assume that the market is not impressed with any of the technology and has no interest in licencing it. Most of it is now too old to be of any interest to anyone.
6) The fraud can even be found in the Introduction to the UAMA Board Page that you are viewing.Mr. Sandeep Panesar still listed as an employee and he has been gone since 2018. Several others gone as well, though company continues to list them as key employees.
7) UAMA can't raise capital from banks or institutional investors or apparently anyone. The Canadian Press has labeled Mr. Benoit Laliberte as a convicted criminal and that makes it impossible to raise expansion or turnaround capital. Probably can't raise it from shady sources either as they wouldn't be impressed with the appalling track record the UAMA CEO and his long list of failed companies.
UAMA is a very delinquent filer with last issued Pink disclosures in 3Q-2019, so over a year delinquent.
Safe to assume that management doesn't dare show you the ugly truth. Expect the worst! Like no revenues from mining! No revenues from wireless or wireline technology! and.......no upside!
AI
