September 30, 2004
 
    
  000-27621
  UNITED AMERICAN CORPORATION
   FLORIDA      95-4720231
  
 220 De La Coulee, Mount Saint Hilaire, Quebec, Canada J3H 5Z6
  
 514-788-4890
  
   
 
   
  40,658,242 shares of common stock as of September 30, 2004
 
  1
  PART I - FINANCIAL INFORMATION
 
 Item 1. Financial Statements.
 
   
 
 
   
 2
 UNITED AMERICAN CORPORATION
      ASSETSCURRENT ASSETSCash

30,882Receivable

22,66153,543Telecom equipment net of accumulated depresiation

437,755Total Current Assets
$
491,298LIABILITES AND STOCKHOLDERSEQUITYCURRENT LIABILITIESAccounts Payable
$
20,771Total Current Liabilities

20,771STOCKHOLDERS EQUITYCommon stock 50,000,000 shares authorized at $0.001 par value;40,658,242 shares issued and outstanding

40,658Capital in excess of par value

662,353Deficit accumulated during the Development stage

(232,484)Total Stockholders' Equity

470,527$
491,298   The accompanying notes are an integral part of these financial statements.
  F-1
 **UNITED AMERICAN CORPORATION**
 (Development Stage Company)
 STATEMENT OF OPERATIONS
 For the Three and Nine Months Ended September 30, 2004 and 2003
 and the Period July17, 1992 (date of inception) to September 30, 2004
  3 Month              3 Month              9 Month               9 Month            Jul 17, 1992
ended                  ended                  ended                  ended                to Sept 30,
Sept 30,               Sept 30,              Sept 30,              Sept 30,                  20042004                    2003                   2004                   2003REVENUES
$
221,728

$
-

$
1,288,789

$
-

$
1,288,789EXPENSESAdministrative

58,645


4,230


275,763


9,239


610,113Operation

96,345


-


435,104


-


435,104Depreciation & amortization

-


-


-


-


14,738Consultants & salaries

25,448


-


45,683


-


1,056,160180,438


4,230


756,550


9,239


2,116,115NET PROFIT (loss)
before other income and expense

41,290


(4,230)


532,239


(9,239)


(827,326)OTHER INCOME &EXPENSESExtinguishment of debt

-


-


-


-


625,964Lost of assets

-


-


-


-


(31,122)NET PROFIT (LOSS)
$
41,290

$
(4,230
)
$
532,239

$
(9,239
)
$
(232,484)NET PROFIT (LOSS) PER COMMON SHAREBasic
$
0.001

$
-


0.012

$
-AVERAGE OUTSTANDINGSHARESBasic (stated in 1,000s)

40,658


13,703


40,658


13,703
 The accompanying notes are an integral part of these financial statements.
 F-2
 **UNITED AMERICAN CORPORATION** .
 (Development Stage Company)
 STATEMENT OF CASH FLOWS
 For the Nine Months Ended Sept 30, 2004 and 2003 and the Period July17, 1992 (date of inception) to Sept 30, 2004
   Sept 30,                      Sept 30,                          July17,
2004                          2003                            1992 to2004June 30, 2003CASH FLOWS FROMOPERATIONG ACTIVITIESNet Profit (loss)
$
532,239

$
(9,239
)
$
(232,484)Adjustments to reconcile net loss to netcash provided by operating activitesChanges in accounts payables

(40,941)


9,239


646,735Changes in accounts receivable

(22,661)





(22,661)Contributions to capital-expenses

-


-


92,500Extinguishment of debt

-


-


(625,964)Capital stock issued as payment for expenses

-


-


467,519Net increase (Decrease) in Cash Flows from operations

468,637


-


325,645CASH FLOWS FROM INVESTINGACTIVITIESTelecom Equipment

(437,755)


-


(437,755)CASH FLOWS FROM FINANCINGACTIVITIESProceeds from loans

-


-


-Proceeds from common stock subscriptions

-


-


142,992Net change in Cash

(30,882)


-


30,882Cash at Beginning of Period

-


-


-Cash at end of Period
$
30,882

$
-

$
30,882SCHEDULE OF NON CASH OPERATION ACTIVITIESContributions to capital-expenses 2000-2004






$
92,500Stock issued as payment for expenses 1992-2004







467,519
 **
 The accompanying notes are an integral part of these financial statements.
 F-3
 UNITED AMERICAN CORPORATION
     
 
 1. ORGANIZATION
  
  
    
  
 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 
 Accounting Methods
 
   Dividend Policy
 
  
 Income Taxes
 
  
  F-4
 UNITED AMERICAN CORPORATION
    
 
 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - continued
 
 Basic and Diluted Net Income (Loss) Per Share
 
  
 Financial and Concentrations Risk
 
  
 Revenue Recognition
 
  
 Advertising and Market Development
 
  
 Estimates and Assumptions
 
  
 Financial Instruments
 
  
 Recent Accounting Pronouncements
 
  
 F-5
 
 UNITED AMERICAN CORPORATION
    
 
  3. CAPITAL STOCK
 
   4. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES
 
  
  
 5. CONTINGENT LIABILITIES - EXTINGUISHMENT OF DEBT
 
  F-6
 UNITED AMERICAN CORPORATION
    
 
 6. ACQUISITION OF ALL OUTSTANDING STOCK OF UNITED AMERICAN CORP.
 
  
   
 F- 7
 Item 2. Managements Discussion and Analysis or Plan of Operation.
 
  
 Overview
 
  
  
  
  
  3  Description of Business
 
  
  
  
  
  
 Subsidiaries
 
   Products and Services
   4  Plan of Operation
   Focus corporate attention toward customer service and satisfactionIncrease our market shareExpand our geographic coverage    
 Assets
 
  
  
 Liabilities and Stockholders Equity
 
  
  
 Results of Operations
 
  5
   
  
 Liquidity and Capital Resources
 
  
   Going Concern
 
  
 Revenue Recognition
 
  
 Item 3. Controls and Procedures.
 
  
  6
 
 Limitations on the Effectiveness of Internal Controls
 
  
 7
 PART II - OTHER INFORMATION
   Item 1. Legal Proceedings
   
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
   
 Item 3. Defaults upon Senior Securities
    Item 4. Submission of Matters to a Vote of Security Holders
    Item 5. Other Information
    Item 6. Exhibits
 
 Exhibit
Number
Description31.1
Certification of Chief Executive Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 200231.2
Certification of Chief Financial Officer pursuant to Securities Exchange Act Rule 13a-14(a)/15d-14(a), as adopted pursuant to
Section 302 of the Sarbanes-Oxley Act of 200232.
Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002
 
 
 8
 SIGNATURES
     
 
 
 /s/ Benoit Laliberte
     9