AABB Confirms $3 Million Gross Profit and $1.8 Million in Cash from Operations Validating New Business Direction

Date : 01/24/2019 @ 3:37PM
Source :InvestorsHub NewsWire
Stock : Asia Broadband, Inc. (PC) (AABB)
Quote : 0.01  0.0 (0.00%) @ 9:30PM

AABB Confirms $3 Million Gross Profit and $1.8 Million in Cash from Operations Validating New Business Direction

Asia Metals Announces Mining Operations Expansion Plans




Las Vegas, NV -- January 24, 2019 -- InvestorsHub NewsWire -- Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., today announced the continued acceleration of its mining operations expansion activities in 2019.  Last year, through the third quarter of 2018, AABB reported $2.7 million in gross profit and management has confirmed it will report over $3 million in gross profit for the full year.  The Company only reported $277,000 in gross profit on $882,000 in revenue in 2017 prior to the implementation of its operations expansion plans in 2018.  The additional operations resulted in a 1000% increase to AABB’s gross profit through the 3rd quarter of 2018 compared to the entire previous year.  In addition to the dramatic increase in gross profit, the Company reported $1.8 million in cash on the balance sheet at September 30, 2018.  Asia Metal’s strategic growth focus has allowed the Company to capitalize on a unique ability to connect mineral resources in Mexico with a high demand for such resources in Asia.  In conjunction with the upcoming annual report, management plans to publish a number of strategic updates regarding the Company’s comprehensive expansion throughout 2019.


Asia Broadband Inc. (OTC : AABB), through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. 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.

Contact the Company at:

Email:             ir@asiabroadbandinc.com
Website:        www.asiametalsinc.com

Phone:           702-866-9054
Cervitude Intelligent Relations
Nicholas Coriano

Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.’s (the “Company”) expected current beliefs about the Company’s business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.

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