United American Corp. (UAMA)

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Wireless a total failure at UAMA!

Invested, UAMA et al bought RuralCom back in February 2017. RuralCom a market-ready wholesale cellular carrier with a small network already operational and had key inter-carrier roaming agreements with AT&T, Sprint, T-Mobile and Verizon. Benoit Laliberte doesn't have a clue about the wireless industry and couldn't wait to fire the RuralCom CEO. He then went to institutional investors that had provided RuralCom with financing term sheets, an end-run on the fired CEO, and those potential sources of substantial capital showed him the door. Still can't raise capital!

Mr. Laliberte quickly learned that he and Mr. Panesar didn't have the contacts, the knowledge or the needed financial support to expand the business. Despite all the BS about appearances before the CRTC, TNW Wireless was failing fast and in 2018 the network ceased to be operational.

iPCS just another miserable failure. If it was worth anything, had any redeeming value or solved a problem at lower cost some carrier in the world would licence it and trial it. But that's not Mr. Laliberte's style he prefers to market pure BS not to find and sell and partner to get a trial up and operating. The truth is iPCS just another Laliberte fail and the wireless industry already has a lower cost solution.

Now, according to quarterly filings, UAMA mentions that they may launch an MVNO (mobile virtual network operator) business in Canada. That's a distribution play in a highly competitive market and it will predictably fail. Mr. Laliberte and Mr. Treveor-Deutsch have never built a successful distribution business, have no relevant wireless industry experience and can't access the capital required to properly enter the market.

I built the largest cellular resale business in the US and UAMA doesn't have what it takes to be successful.

UAMA is just one big illusion and fraud. Look back at all the press releases like the cryptocurrency mining campus touted in 2019. A vision of grandeur that never happened.

Wireless has failed at UAMA. iPCS has failed. Blockdomes are in trouble!

UAMA a real mess, CAVEAT EMPTOR!