Asia Broadband Inc. (OTC: AABB) may trade at roughly $0.03 a share but don't be misled. This nanocap is delivering results uncommon to its peers. In fact, unlike most stocks at a similar price, AABB has revenues that, by any measure, from any size company, are impressive. How's this for a penny stock- AABB clocked over $4 million in Q1 2023 revenues. Better still, they come from a diversified stream.
AABB is advancing revenue-generating initiatives targeting digital currency assets and NFTs, two red-hot segments among investment and collectors. Not only is the business gaining traction in both, work completed in 2022 and thus far in 2023 position the company better than at any time in its history to increase shareholder value.
That includes being stronger than when its shares traded about 42% higher in May, roughly 43% higher than its current price. And the more excellent news, they just got stronger. News on Wednesday adds to its strengthening products and services arsenal, which is likely to help AABB recapture momentum and position them to not only reclaim May highs but 52-week highs as well, which at $0.08 put a potential 185% spike into play. That's not an overly aggressive target.
Migrating AABBG To A More Efficient Algorand Platform
In fact, higher valuations can be supported by intrinsics alone. That includes value inherent to AABB's announcement yesterday that its AABBG Token, a leading blockchain project, is migrating from the Ethereum blockchain to the Algorand blockchain. Expected to be fully implemented in the coming weeks, the migration will provide token holders with improved transaction efficiency, lower costs, and increased transparency. Moreover, moving on to Algorand reinforces AABB's commitment to enhancing the overall user experience and meeting the evolving needs of its community, especially by leveraging the advanced features and benefits of Algorand's blockchain infrastructure to offer a seamless and efficient ecosystem.
It's an excellent value driver for AABB as well. In fact, the Algorand platform facilitates its digital assets improvement initiative that dramatically lowers transaction costs, increases processing speeds, expands liquidity, and increases user satisfaction. The goal is to synergize the growth of the AABBG token, AABB Exchange, and PayAABB by creating added efficiencies to facilitate widespread use, increase transaction volumes and expand digital business segment profits.
Keep in mind the move is expected to add to already impressive financials. AABB recorded a gross profit of $4.6 million in the first quarter of 2023, led by the record-high performance of its digital assets segment, which scored $3.9 million in sales from the AABBG token and initial sales of the Golden Baboons Mining Club NFT (Non-Fungible Token). The latter launched in February. There's more to appreciate, especially related to expected revenue growth.
AABB noted that its mining segment continued gold production from 2022 into Q1 of this year. While results were good, they expect great results ahead from installing a new processing facility and the commencement of the ore stockpile production in the second half of 2023. Reaching those milestones, combined with initiatives to enhance revenues in the back half of this year from combined segment operations, higher share prices may be more than a target; they are likely in the crosshairs.
By the way, AABBG token holders should expect no disruptions to services, noting that the migration process includes pre-funding of Algorand accounts to facilitate the conversion process. Furthermore, the existing AABBG Token on the Ethereum blockchain will be converted to the new Algorand-based AABBG Token at a one-to-one ratio, maintaining the value and integrity of users' holdings. Updates and client support during the migration process are being made available by the company. Combin its interests, there's plenty to appreciate about this company.
AABB Differences Are Advantages
Asia Broadband is more than a digital assets play for those just being introduced. They are also a resource company focused on producing, supplying, and selling precious and base metals primarily to Asian markets by utilizing its specific geographic expertise, experience, and industry contacts to facilitate its innovative distribution process from its production and supply of precious and base metals in Mexico to its client sales networks in Asia. That vertical integration is a difference that's an advantage, providing them a unique ability to facilitate efficient transactions and, importantly, from an investor's perspective, diversify their revenue-generating opportunities.
That's precisely what AABB did when it added a digital assets component to its business model. In June, the company launched its digital assets business, supported by its freshly minted AABBG mine-to-token gold-backed cryptocurrency within its AABB Wallet. They did more.
Through its proprietary digital exchange AABBExchange, the cryptocurrency payment gateway solution PayAABB.com, its Golden Baboons Mining Club NFT collection, and its move to Algorand, AABB expects its token to become a worldwide standard of exchange that is stable, secured, and uniquely trusted with gold backing. Expectations for Golden Babboons Mining Club are equally optimistic. If both score as expected, current share prices, and even higher toward $0.08, can be considered a ground floor opportunity. AABB management is certainly not short on optimism.
They expect that its gold-backed AABB Gold token coinciding with the launch of AABB Wallet, has the potential to become a global leader in providing an exchange that is secure, transparent, trusted, and backed by the world's most precious commodity- gold. Like AABB's others, it's an ambitious project. But keep in mind the team at AABB has delivered success.
Its Bonanza Gold Mine could cause that history to repeat.
Exploiting Value From Bonanza Gold Mine In Mexico
In that respect, Asia Broadband announced significant progress in its exploration and development activities at its 100% owned registered concession at the Bonanza Gold Mine Project in Acaponeta, Nayarit, Mexico. In addition to progress made on the ground, AABB is excited about reports that indicate that the potential recoveries from the project can be more significant than initially expected. Keep in mind that it's not AABB making the claim. Development activities have been directed by the recommendations outlined in the certified geological technical report prepared by a qualified professional person (QP) from Micon International Limited. That report provides other points of interest.
Specifically, value drivers. The report provided preliminary mineral resource estimates of gold and silver values in the initial technical report exceeding $10 million at the current spot precious metal prices. Keep in mind that's before the company completes in-progress work. Even so, sitting on millions is good to know. It also helps establish a framework for the AABB geological and mining operations team to maximize its exploration, development, and resource expansion program, as well as facilitate production, efficiencies, and processing equipment installations.
It's important to mention that the Bonanza gold project adds to other prospective high-yield mining assets in its portfolio, which can be exploited through the company's strategic mission to more quickly develop project locations and monetize precious underground assets and their physical gold holdings.
Precedent suggests they will, especially in a sector where location is everything. AABB is an excellent one in the prolific mining region of Acaponeta in Nayarit, Mexico. Prospects are also excellent. Already, its Bonanza property has shown high-grade gold assay results from samples and drilling activities with the most significant gold values of more than 10 grams per ton (g/t). That's a bullish measure that positions the company to grow bigger faster, noting the estimates support intensifying efforts for rapid expansion, which can benefit from high expected production and low operating costs. Simply said, revenues can fall faster to its bottom line.
Shifting Into A Higher Gear To Monetize Assets
And more of those could be added sooner than later. In its update, AABB noted in-progress plans to implement its mining property acquisition strategy, which optimizes development capital utilization by focusing operations and expansion interests in regions of Mexico. In other words, find and acquire accretive assets that would benefit from leveraging AABB's strength. The goal is one reached before- duplicate its previous gold production success.
Remember, that's just one segment. The best and most accurate way to appraise AABB is by the sum of its parts. Factoring in its entirety of assets is the total exposing a significant valuation disconnect. Still, knowing that AABB share prices traded much higher with less revenue-generating firepower, it's a gap that will likely close quickly as more investors learn about this fast-growing revenue-generating nanocap. In other words, investors shouldn't be misled by the share price; all tolled, it's not a fair representation of value.
But with that said, and recognizing both the intrinsic and inherent value connected to its portfolio, that disconnect isn't a bad thing. After all, in addition to exposing the value disparity, it offers time for investors to learn more about why AABB is worthy of a significantly higher valuation. Taking advantage of the disconnect may be the next best course of action, an especially fitting move for investors who can handle risk with the potential for exponential returns.
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