Unrestricted stock shareholders with net new stock positions after Feb 13, 2020 will receive one half Bitcoin Mining Gigahash per share
Miami, Florida--(Newsfile Corp. - February 13, 2020) - Miami-based United American Corp (OTC PINK: UAMA) ("UnitedCorp"), a digital and telecommunications company, announced today that it will become the first publicly-traded company to pay sustained hashing power to new net shareholders of record after Feb 13, 2020 in the form of a special dividend-like Bitcoin mining hashing power.
The company's increased capitalization - highly efficient data center domes with natural cooling and heat generation stations for greenhouses - now permits the payment of a new generation of special dividend: UnitedCorp will provide a sustained 0.5 Gigahash per second (Gh/s) per share to net new unrestricted stock shareholdings of record as of February 13, 2020. In addition, any new stock issued through private placement under Reg D after Feb 13, 2020 will also receive the special dividend.
This means for example, that a shareholder with a net new position of 2 million shares after February 13, 2020, would receive 1 petahash mining power. Shareholders will be able to direct their hashing to the Bitcoin mining pool of their choice, thereby maintaining full custody of any Bitcoin SV, Bitcoin Core or Bitcoin Cash assets earned within their chosen mining pools and transferred to their cryptocurrency wallet.
UnitedCorp's current operation supports Secure Hash Algorithm (SHA-256) cryptographic protocol for mining of Bitcoin.
The company will not provide any representations with regards to potential financial results from the mining due to market volatility, variation in network difficulties and the ultimate performance of the chosen pool - all of which are beyond its control. The company will evaluate the level of special dividend payment on a monthly basis and will provide regular updates to shareholders on the current mining power per share or any changes to the mining power per share via its web site.
All restricted stock issued prior to February 14, 2020 as well as any unrestricted/free-trading share position prior to that date are not eligible for the new special dividend.
Eligible Shareholding Registration Process
1- Shareholders will need a minimum of 100,000 new share position (shares purchased after February 13, 2020) to be eligible for the special dividend and will need to register for the hashing dividend at www.unitedcorp.com/investors/dividend and complete the KYC and AML procedures
2- The company will validate on a regular basis the information received from banks and broker dealers the Non-Objecting Beneficial Owners (NOBO) list as well as the shareholder names and addresses of record as per SEC Rules 14b-1 & 14b-2
3- Upon completion of registration and KYC and AML procedures, shareholders can direct hashing to their previously registered mining pool account. The pool will then transfer digital assets to shareholders' wallets according to the pools' respective procedures.
Existing shareholders with free-trading stock positions as of February 13, 2020 are not eligible for the special dividend. For existing shareholders, only the net new positions are eligible - for example, if a shareholder already owns 25,000 shares and buys and holds an additional 150,000 shares after Feb 13, 2020, only 150,000 shares will be eligible for the special dividend.
The Current Landscape for Digital Assets
The current landscape for investing in digital assets is changing significantly as institutional and retail investors seek to minimize direct exposure to cryptocurrencies while at the same time benefit from this new type of asset.
UnitedCorp's unique approach will permit investors, through a long-awaited creative new investment vehicle, to be part of the cryptocurrency world by providing significant advantage over trusts, exchange-traded products, cash-settled futures, and investment funds, as such investment products are usually tied to holdings of cryptocurrencies like BSV, BTC or BCH. Furthermore, under these more traditional mechanisms, investors have little or no control over the underlying asset held by these investment vehicles and their value is directly related to market reactions to cryptocurrency volatility and fluctuations
UAMA shares are traded through licensed brokerage firms and are eligible for tax-advantaged accounts such as IRAs or 401(k)s. For US shareholders who hold UAMA in tax-deferred accounts, such as IRAs or 401(k)s, the net digital assets mined can be managed separately from the accounts along with any associated tax liabilities.
This new vehicle further addresses custody issues as each shareholder will have direct control of the underlying asset which they can manage as they see fit, without concerns over third party custodians or storage services.
"Cryptocurrency is a new industry, and UnitedCorp is ready to lead the way through creativity and innovation so our shareholders can participate and benefit from it," stated Benoit Laliberte, President and CEO of UnitedCorp. "Digital currency is all about democratization of the network and we can think of no better way of achieving democracy than handing some of the network power over to our shareholders and away from faceless networks and exchanges."
Sustainable Mining
UnitedCorp currently operates green data centers powered by zero-carbon energy which form the basis for successful and sustainable operations. At a time when the world demands ever-increasing environmental sustainability and minimal impact on climate change, this approach is now a financial and social necessity. The company believes that sustainability in the long-term will enhance shareholder value.
UnitedCorp believes that the global hashing power demand will continue to grow and that investors will be able to adjust their investment in the company as per their individual requirements. In response, the company expects to be able to add hashing power based on investor demand, through periodic private placements made by qualified investors
As such, UnitedCorp stakeholders will have benefits in three areas; through participation in company equity, through direct returns in mining hash power and eventually, through heat generation in greenhouse operations. UnitedCorp considers this the best way of both rewarding long-term income investors as well as maintaining a strong balance sheet.
UAMA - Mining Power Special Dividend Stream
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About United American Corp
Established in 1992, United American Corp is a Florida-based development and management company focusing on telecommunications and information technologies. The company currently holds the rights to manage a portfolio of patents and proprietary technology in telecommunications, social media and Blockchain technology, and owns and operates the Data Center Domes which are designed to provide heat for agricultural operations using computer equipment in naturally cooled data centers where efficiency and low-cost operations are a priority.
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.
Source:
United American Corp
Contact:
Investor Relations
investorrelations@unitedcorp.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52390
