UAMA is in dire straights! CAVEAT EMPTOR
The 2020 Annual Report is a must read. Read it all.
You'll learn about unresolved problem after unresolved problem. Like the movie, "The Gang that Couldn't Shoot Straight".
Let's start with AMF (Quebec) Cease Trade Order. Somehow it seems like this may be slowing removal of the "skull & crossbones", though maybe that is good to protect the public.
Read about the electrical power problems at the Blockdomes.
Take the time to read about the land-use problems affecting the Blockdomes. Lost in Court, lost appeal and denied judicial review. UAMA it admits it will face high costs to move the Blockdomes and restore the land to the designated agricultural use. How did it happen? Arrogant leadership of Benoit Laliberte, who never thought to ensure that all proper approvals in place before construction. Incompetence in action.
Read about the the $47M bankruptcy of Telephone-Navigata-Westel along with a couple of numbered entities. The bankruptcy effectively "gutted" the businesses of all assets which were sold. Employee and talent base followed the assets. Bankruptcy is still before the Supreme Court of BC and it is possible Mr. Laliberte, UAMA President, CEO and CFO may face charges for threatening (in writing) an Officer of the Court. Further there's apparently over $1M in employee withholding taxes that were never remitted to the CRA.
Read about how TWN Wireless Inc. failed to launch under Benoit Laliberte. Investel (UAMA et al) purchase RuralCom as a market-ready business with an accomplished CEO in place who had access to capital to build out and expand the network. Laliberte thought he had a better idea. Fired the CEO and did an end-run on sources of capital. Nice try, those investors had no confidence that Laliberte knew the wireless business and were likely troubled by his 44 convictions for stock fraud, market manipulation and deceiving investors, so they walked. In the end TNW Wireless failed to launch and as you will note in 2020 Annual Report they may have to write-down a portion or all of that investment. It's likely the latter.
Read how UAMA is abandoning the Anti-trust Litigation vs. Bitmain et al. Key counsel quit the case at the end of December 2020. Just another example of how UAMA et al wastes time and treasure on dead-end legal initiatives they know they can't win.
Patent litigation all same. Been underway for over 4 years and zero results. No licencing agreements and no wins in Court.
To find 2020 Annual Report:
Go to "OTC Markets - UAMA"
Click on "Company Profile" at top of page
Scroll down to "Latest Report".
Click on 12/31/2020 Annual Report.
If you have any business experience at all you'll quickly see how messed up the business affairs of UAMA really are.
The outlook for UAMA based on the 2020 Annual Report are BLEAK!
