AABB Confirms $3 Million Gross Profit and $1.8 Million in Cash from Operations Validating New Business Direction
January 24 2019 - 10:37AM
InvestorsHub NewsWire
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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