ASIA BROADBAND ORD (OTCMKTS:AABB) could be an interesting name to track for those looking for action in the microcap ranks. The company is a highly speculative player in the metals mining space that has started to make noise about a possible uplisting of shares after getting current with its financial data. Shares are trading above the major moving averages and appear dirt cheap relative to the balance sheet and topline performance data.
The company recently announced that it has continued to develop its ancestral mine and mineral concessions acreage over the past two years in the state of Guerrero, Mexico. According to that release, “During this time, the Company employed significant capital and labor to consistently expand its small-scale precious and base metal production facilities. Asia Broadband has increased its revenues generated from metals production from its inception in 2016 to the year-end of 2017. This growth trend has continued for the Company’s operations in 2018, as will soon be published in the first quarter financial statements for the period ending March 31. In addition to production revenues, Asia Broadband has utilized its extensive network of client contacts and distribution channels in Asia to complete several brokered mineral sales transactions this year. The Company plans to announce further details of its significant operating achievements throughout 2018 in subsequent press releases.”
ASIA BROADBAND ORD (OTCMKTS: AABB) is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets, through the Company’s wholly-owned subsidiary Asia Metals Inc..
The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Guerrero, Mexico to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
Asia Broadband, Inc. previously operated as a digital education media and technology services company. It offered classroom based education services; and content services on Internet broadband network in the People’s Republic of China. The company was formerly known as Gemini Marketing, Inc. Asia Broadband, Inc. was incorporated in 1996 and is based in Las Vegas, Nevada.
As suggested above, the company also noted in its most recent press release that it has filed its past annual financial statements and disclosures with OTC Markets and is now Pink Current Information status. “As business progresses throughout 2018, Asia Broadband plans to engage a PCAOB auditing firm and apply for the OTCQB tier with OTC Markets.”
As we have seen repeatedly, a move up to the “Venture” tier on the OTC can have enormous positive repercussions for a pink sheet name like this.
Overall technical action is promising, with recent gains of 69% during the past month. In addition, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 10% above its longer run average levels. It pays to take note of this fact with the stock trading on a float that is relatively tight, at just 30M shares.
AABB has a reserve ($932K) of cash on the books, which stands against virtually no total current liabilities. AABB is pulling in trailing 12-month revenues of $1.1M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 392.1%. At this time, carrying a capital value in the market of $4.07M, the stock remains poised for potential gains if it starts to find its way onto the radar of the OTC trading public to an increasing degree.
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