Precipitous drop! (-70%) in revenue, UAMA dying!
Read the 2020 Annual Report
If not for one-time gain on abandoned in place miners by former client (Woodland?) the loss would have been enormous.
Read that Cetaq, UAMA et al actually stopped mining in 2020 and seems like they are not a miner, in fact, but only rent facilities to miners today. Lawry Trevor-Deutsch said as much in an industry article in August 2020.
Seems like everyone now wise to that fraud and now it's back to wireless to deflect from the obvious and astounding failure of Blockdomes. It was always a joke and recent revelations of land-use violations and seeking creditor protection from the local power company truly illuminates the depth and breadth of management incompetence and their fondness for astounding levels of fraud.
Mr.Trevor-Deutsch can't even get through one Press Release without making a fraudulent statement. Claims that TNW, UAMA et al owns spectrum licenses for all of the province of BC and the Yukon are untrue and falsehoods.
Read the latest Press Release of April 19, 2021.
Predictably UAMA will fail as an MVNO as they don't have the talent or the capital to successfully enter the field. Truth be known the existing and new MVNOs will eat them alive.
Results will come fast though as operating an MVNO all about "Net Adds". That is how many subscribers at end of day, week and month based on new additional sign-ups minus those who cancel service or migrate to another carrier or MVNO.
Among those in the industry the average cost to acquire a new customer (a single cell phone account is $300 USD). That reflects costs of advertising, acquiring and activating cell phones, selling commissions, etc. etc. This number from a mature industry so no easy way to get around this reality.
Why is it important?
UAMA has no cash and market entry will take plenty of it. Just Google MVNOs in Canada to see who the incumbent competitors are. Many have well known household "brands" that are trusted.
UAMA enterprises have never been accused of being trustworthy!
