New York, NY – January 29, 2019 – InvestorsHub NewsWire -- Asia Broadband Inc. (USOTC: AABB) is steadily moving back up to breakthrough its $0.034 200 moving average after investors took profits on a recent 400% gain to $0.04. After reaching just over $0.04, the PPS retraced 50% back to $0.02 and is now on the move back up again. It could be a good time to get back in with the technical support that can come from breaking the approaching $0.034 200 moving average mark and the anticipated news expected to trigger a run that could take the PPS back to its $0.10 52-week high if not beyond.
With a transition over the last year into mining as the company’s now current primary business focus, AABB has posted a 1000% increase in gross profit through the third quarter of 2018 reporting almost $3 million in gross profit compared to $277,000 in gross profit for the entire previous year. The company is also reporting nearly $2 million in cash on its balance sheet. While the company was still going unnoticed on October 24, 2018, it signed a $34 million joint venture agreement that included an initial $5 million payment. The financial benefit of the agreement will become apparent when the company publishes its 2018 annual report. AABB is trading between $0.02 and $0.04 on much higher than its twelve-month average trading volume. The PPS has a 52-week high of $0.10 and once the annual report is filed adding the benefit of the $34 million joint venture to the organic $3 million in gross profit and $2 million in cash from operations already reported, the PPS is likely to rocket back to its $0.10 52-week high and beyond.
About Asia Broadband Inc. - 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.
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