Future of UAMA not hard to predict!
History is about to repeat itself and in less than 11 days we're told we'll get to see a report and financials.
So what?
The bald fact is that Benoit Laliberte, UAMA CEO has never been able to build a business of lasting value. In fact the record shows he most ofter screws up everything he touches.
You know like building sophomoric Blockdomes on agricultural land in violation of land-use regs. Who does that? Stupid people do that!
Investel bought RuralCom a market-ready rural cellular carrier with a working network. Had premium-priced roaming agreements with all the major US carriers including AT&T, Sprint, T-Mobile and Verizon and in negotiations with Bell. Even better RuralCom CEO had sources of expansion capital with term sheets. Benoit Laliberte's ego too big! Fired RuralCom CEO (and breached his employment agreement-that in the courts now) and tried an end-run with sources of expansion capital known to RuralCom CEO. They showed him the door!
Fact is TNW Wireless Inc. (nee RuralCom) could have quickly become a going concern as a celllular carrier generating $40-60M in annual revenue and 40-60% EBITDA. How's that compared to miserable performance of UAMA to date.
Instead Benoit's ignorance of the wireless industry led him to pursue an idiotic plan to try and remake the industry and regulations. His strategy built around worthless iPCS technology that was never able to attract any interest anywhere in the world. No wireless industry CEO with any sense would have ever pursued such a losing strategy. Needless to say that was a spectacular failure and managed to alienate the Canadian wireless carriers who would ordinarily have interest in signing roaming agreements with a new rural carrier. Sadly, any window of opportunity has closed for TNW Wireless Inc. as the major carriers have overbuilt and no longer need roaming partners in the original licence areas.
So what will we learn in the report and financials soon to be released:
• UAMA et al is not really a miner but operating as a landlord for real miners (little upside!)
• UAMA now just "hobby-sized" and not even a factor in cryptocurrency mining in Quebec
• Promise of huge "mining campus" maybe big enough to change climate in Quebec
• New initiative in wireless which will predictably lead nowhere!
• Big wireless consolidation play to form new nationwide network of broadband-based providers. (It's been tried before and will predictably fail)
So expect modest financials and huge upside based on renewed vision for the future.
At the end of the day Benoit Laliberte has a great imagination. Too bad he has no team building or execution skills.
Great managers and leaders get it done. Sweat the small stuff, hire or partner with talented people and focus on excellence. Benoit does not have what it takes!
UAMA's future will end up being a repeat of the past. A serial failure!
