New York, NY -- February 4, 2019 -- InvestorsHub NewsWire -- Asia Broadband Inc. (USOTC: AABB) had an extraordinarily good year in 2018 and the financial results will soon be reported in the company’s annual report. AABB transitioned its business focus to mining last year and 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. Management has recently confirmed that the company will report over $3 million in gross profit in the upcoming annual report. The company is also reporting nearly $2 million in cash on its balance sheet. Furthermore, on October 24, 2018, AABB signed a $34 million joint venture agreement that included an initial $5 million payment. The financial benefit of the agreement will also be included in the company’s 2018 annual report. AABB is trading in the $0.02 range today presenting an excellent opportunity to accumulate shares prior to the upcoming annual report. AABB has a 52-week high PPS 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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