United American Corp. (UAMA)

[65actual]

UAMA a colossal failure! Mismanagement the key!

Mr. Benoit Laliberte has never built a business of lasting value.

Everything is BS first and execution last.

iPCS technology was a total bust. No proof of any patent issued by USPO and more to the point, no carrier ever thought enough of it to commit to a trial. Laliberte tried to combine it with cellular spectrum licenses in rural Canada with predictable results. Looked sophomoric and the time and today even more so. Turned TNW Wireless Inc. into the laughing stock of the Canadian wireless industry.

Needless to say TNW Wireless Inc. is dead. No subscribers, no roaming agreements, no working network and no revenue of earnings from wireless. A total and complete failure.

Don't expect an update on TNW Wireless Inc. anytime soon. Most you can expect is a couple of pictures to remind you of the promise of wireless industry with no direct connection to that promise. A total and complete failure for TNW Wireless Inc.

Cryptocurrency mining another colossal failure. At first early results looked promising then shut-down order issued by Quebec Court. Laliberte appealed and lost. Original mining customer (Woodland?) appears to have abandoned the processors in place and cancelled the mining arrangement. Guess they didn't want to be a party to contempt of Court Order.

Now we find out that UAMA et al focused on renting space to miners and ag customers. Likely to stay clear of contempt of Court charges and distance themselves from non-agricultural use of the land.

The upshot of all this is that revenues for 2020 will have been greatly diminished by cessation of direct mining activities.

Expect much lower revenue in 2020 and UAMA transitions to being a simple landlord.

Any upside now dependent on rental/lease income from facilities.