Complicit posters should be held accountable.
For years they supported this POS fraudulent company and its convicted criminal CEO, Benoit Laliberte. They thought he was wonderful which says a lot for the value of their advice and their ability to effectively assess management potential. My guess most suffer from their own character foibles. CAVEAT EMPTOR should have been the byword for any involvement with UAMA et al.
Guess some are super embarrassed over their behavior and they sought to support this obviously fraudulent enterprise led by a CEO who was convicted on 43 counts of stock fraud, market manipulation and deceiving investors.
Maybe those former cheerleaders could come out of the shadows and explain what motivated them to trade in the obvious lies and misrepresentation of the facts.
Fact is the business has been capital challenged for years and following the CCAA Proceedings (bankruptcy in Canada) which began in November 2016 they couldn't raise any capital due to the convicted criminal status of the CEO. If Laliberte had any brains he would have brought in someone that knew what they were doing. But his ego too big for that and at the end of the day his only interest was in creating "the illusion of progress".
UAMA biggest blunder was after acquiring RuralCom, a market-ready wholesale cellular carrier with roaming agreements and a CEO who had brought in term sheets from qualified investors, they chose to "go it alone", chase the potential funding and fall flat on their face. Funny how those investors got scared off by the convicted criminal status of Benoit Laliberte and quickly showed him the door!
Fact is RuralCom could have quickly be built into a successful wholesale cellular carrier enjoying positive cash-flow status. Huge missed opportunity!
