Asia Broadband, Inc. (OTC:AABB)It is a company that produces, supplies, and sells metals. Their primary focus is on Asian markets. They purchase high-prospective gold mining projects in Latin America. Then they distribute the product throughout their global distribution network.
Asia Broadband has over $100 million of assets. This is a 500% rise from last year. Trading in consolidation mode, the company’s stock has risen to over 1,500% in 2018, after reaching new heights in February.
Recent announcements by the company revealed that they had raised $2.8 million. Four directors from Asia Broadband provided the capital for their preferred share purchase.
With each share, the preferred shares, which are non-convertible and not convertible, were $0.10/share. Each share came with 100 voting rights, equal participation in future dividends, as well as common shares with equal voting rights.
Asia Broadband CEO Chris Torres bought $2.4 Million of the preferred stock issuance. “Our entire management team is committed to the company’s growth and profitability and we have emphatically demonstrated this with a substantial long-term investment to fuel the expansion of our gold production and digital asset divisions. Our focus and determination to succeed in every area of the company’s business has intensified now with our capital contribution.”
All capital received will be distributed among Asia Broadband’s capital expansion programs.
Asia Broadband is not only able to deal with metals but also offers multiple digital asset segments, such as a digital wallet and a golden pegged digital assets.
AABB Wallet
Asia Broadband introduced its digital asset wallet the AABB Wallet last year. This wallet is designed to protect your digital assets and keep your personal data confidential. Every transaction through the AABB Wallet is completely anonymous to any third party.
For those who wish to send AABB Gold tokens to other AABB Wallet customers, the AABB Wallet can be used to make trades or purchases. This is to expand the AABB Gold token’s circulation, and to generate revenue that will help stabilize the price of AABBG once it is openly tradable.
It is distinguished by many unique features, making it an exceptional choice among digital asset wallets. You can instantly send and receive digital assets without any transaction fees or deposit fees. The iTransfer feature lets users securely transfer AABB Gold or other digital assets by email, text and social media.
A Merchant API feature, which allows for B2B transactions and B2C transactions via the AABB Wallet will also be available. Merchants will be able to create loyalty programs and customers can earn cashback with this feature.
Asia Broadband has also developed an online payment solution for digital assets that allows businesses to accept digital assets worldwide from their website.
AABB Gold
The previously mentioned AABB Gold is Asia Broadband’s digital asset and is backed by physical gold. The asset can be pegged with gold, which allows it to take advantage of both digital and gold asset features. This will ensure that the asset has the ability to appreciate in both the gold market as well as the digital markets.
AABB Gold can be described as a traditional digital asset but it also has the stability of a stablecoin. The token’s price is supported at a minimum of 0.1 grams spot price of gold and is backed by $30 million in physical gold.
AABB Gold’s most unique aspect that sets it apart from other digital assets is its vertical integration of Mine-to-Token gold-backing. Asia Broadband has physical gold assets that can be used to fully back the token from its mining production section.
The company will optimize capital usage as it grows by continuing to implement its mining production strategy and acquire strategic Mexican regions. Also, the company’s digital asset divisions like the AABB Gold token, AABB Wallet, AABB Exchange and NFTs will continue expanding and developing at an accelerated rate as time progresses.