United American Corp. (UAMA)

[65actual]

UAMA doomed and destined to FAIL!

UAMA has no cash, no progress, no upside

Fact is the $47M bankruptcy of Teliphone-Navigata-Westel totally gutted the enterprise.

Not helped by convicted criminal status of Benoit Laliberte, UAMA CEO as reported by The Canadian Press. He's also been an undischarged bankrupt for over ten (10 years). Now reportedly lives in Florida. Wonder if he has legal right to reside in the US or just here as part-year visitor.

While he's enjoying the Florida weather and beaches, Cetaq, Blockdomes et al in Quebec are failing fast and now just renting old abandoned processors to third-parties.

Recent fraud-speak from company says they're looking to become an MVNO in BC and the Yukon. Don't expect that to even get off the ground. Don't have cash or trade credit or relationships with key facilities-based carriers (Telus and Rogers) to get resale and roaming agreements. Then there's the not so small matter of getting smartphones that subscribers will actually buy. As someone who built the largest cellular resale business in the US I can say with authority that they don't have what it takes!

UAMA is doomed and destined to FAIL. Good chance it will be this year!