United American Corp. (UAMA)

[65actual]

UAMA could have been $40M Rev, 40% EBITDA!

Colossal failures at UAMA.

UAMA's TNW Wireless a colossal failure!

Investel closed on February 12, 2017, agreement to acquire RuralCom Corporation a market ready rural wireless carrier operating in Canada. RuralCom was to operate as a wholesale wireless carrier and had roaming agreements with AT&T, Verizon, T-Mobile-Sprint and was in negotiations with Bell Canada. RuralCom CEO had term sheets from accredited venture capital investors. Same day Investel terminated RuralCom CEO and thought they could do an end run with the venture capital firm. They showed Benoit Laliberte, UAMA President, CEO and CFO to the door and record clearly shows they were unable to raise capital.

Had UAMA, Investel, et al stayed the course with that CEO and his financial supporters the wireless carrier would be generating $40-$60M in revenue with 40-60% EBITDA by now.

Instead UAMA has, through astoundingly bad management, destroyed what could have been a great business.