Incompetent management catching up with UAMA.
Mr. Laliberte is responsible for the many serial failures of UAMA et al.
Biggest of course, the $47M bankruptcy of Teliphone-Navigata-Westel (TNW). Filed in November 2016 and still going in the Supreme Court of BC, though all assets sold off and employees gone.
Jitec, Inelco, Teliphone, TNW Networks, TNW Wireless and a few numbered companies have all failed under Mr. Laliberte. In fact, he has never built a business of lasting value.
Crypto-currency mining and the sophomoric Blockdomes have failed in their own way. Apparently shut-down in 2020 as they couldn't operate profitably, though apparently restarted despite Quebec Court ordered shut-down of mining operations and restoration of the land to agricultural use. Latest quarterly report says they had to seek creditor protection from the power company. Now a law suit against the power company and admission that should they be forced to shut down Blockdomes at the current location the company will incur significant expenses to secure new facilities, move and restore the land.
Reading between the lines suggests gross mismanagement. Who builds in violation of land-use regulations? Dumb, really dumb! But lots of evidence of gross mismanagement.
Like purchasing RuralCom Corp, a market-ready wholesale carrier with roaming agreements in place. Fired the CEO, who had supportive investors with issued term sheets, the Laliberte approached those same investors to do an end-run. Investors showed him the door and TNW Wireless failed on the starting blocks.
