United American Corp. (UAMA)

[65actual]

UAMA is failing fast! Absolutely no upside.

Only source of revenue has been Blockdomes. Note that I did not say cryptocurrency mining.

They stopped mining in 2020 and they apparently only rent Blockdomes now and can't even rent them all. Only operating about 70% of them.

Huge problems with Blockdomes currently:

1) Quebec Court has ordered shut-down of miners. Appeal upheld shut-down order.

2) Processors are now old and over three (3) years old. UAMA acknowledges they need replacement with state-of-the art processors though doesn't have the money to update them.

3) CETAQ (UAMA) sought creditor protection in Quebec to prevent power COOP from shutting off the power.

Read 2020 Annual Report and note operating statement and balance sheet. Both are troubling!

Operating statement shows very little revenue from actual mining-related business. Would have lost hugely if not for one-time abandonment in place of miners by previous mining client who cancelled business arrangement. Why did they cancel you ask? Likely because of Quebec Shut-down Order and wished to avoid becoming a party to Contempt of Court charges for continued operations on land specifically designated as "agricultural use only".

Eposes UAMA management for the clowns they are. Nobody in the management team has anyrelevant past management experience. Benoit Laliberte, UAMA CEO was found guilty on 44 counts of stock fraud, market manipulation and deceiving investors.