Look back at the wireless fiasco! Big loser for UAMA!
When Laliberte bought RuralCom roaming agreements signed, executed and in place with AT&T, T-Mobile, Verizon and Sprint. Discussions with Bell Canada were underway and confirmed in writing.
RuralCom CEO had written term sheets to fund $5+ million in funding (w/option for more) which would have quickly brought the existing basic network to operational status and generating decent revenue. But no! Laliberte's ego got in the way and after offering RuralCom CEO a pathetic JV proposal, which was immediately rejected, he fired the former CEO. Then did an end-run with potential investors (the creators of the term sheets) and was promptly shown the door. Then the pathetic Laliberte and Trevor-Deutsch (I like to refer to them as Bert and Ernie) made ill-advised overtures to the CRTC to illustrate how little they knew of the wireless telecom business. TNW Wireless (formerly RuralCom) was essentially dead at that time and any hope of building a rural cellular business disappeared.
RuralCom has all the pieces in place to move forward in early 2017 and Laliberte and crew displayed their ignorance and talent in this debacle.
Their incompetence and fraud killed a perfectly decent opportunity. If it has been built per the plans they acquired in the purchase it would be generating $40-60M in revenue today with EBITDA in the 40-60% range.
RuralCom represented a VERY REAL AND DECENT OPPORTUNITY, came with funding and could have quickly expanded UAMA and had done it it would be worth over $100M enterprise value today, likely listed on the TSX or NASDAQ. Instead Laliberte made it worth $154.00! Brilliant egotist!
Ignore any attempts by Laliberte to rebuild UAMA it will be doomed from the beginning.
