Asia Broadband, Inc. (OTC:AABB) is a resource company centered around the production, supply, and sale of metals, focusing primarily on Asian markets. They acquire highly prospective gold projects in Latin America and then distribute production throughout their extensive global sales network. Asia Broadband currently holds over $100 million in assets, a 500% increase from last year. The company is trading in consolidation mode and reached new highs in February, leading to the year-to-date stock being up over 1,500%. Recently, the company announced it had received $2.8 million. The source of their new capital came from four directors of Asia Broadband for the purchase of preferred shares. The 28 million non-convertible, preferred shares were issued at $0.10 per share with each share, with 100 voting rights and equal participation with common shares for all future dividends. Asia Broadband President and CEO Chris Torres purchased $2.4 million of the total preferred share issuance, stating: “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 ...
