Asia Broadband Inc. (OTC: AABB) may trade at nanocap prices but don't be misled; this company is unlike most in its price category. In fact, AABB posts performance seldom seen by most that trade at roughly $0.03, including growing and diversified revenues that scored over $4 million in Q1 2023. That's one attraction. The other is that AABB targets two of the hottest sectors, digital currencies, and NFTs, which are helping set the stage for potentially explosive growth in the back half of this year.
In fact, work accomplished in 2022 and the first half of 2023 positions AABB better than ever to create higher and more sustainable shareholder value. Ironically, despite the groundwork laid, AABB shares are trading about 43% lower than the highs set in May. That's not necessarily bad news for new investors since it exposes a valuation disconnect worth seizing. And for those holding at higher prices, cost-averaging at these levels may also be a wise consideration, especially on the heels of news showing AABB strengthening its product and service offerings, which do more than put the May highs in the crosshairs but also 52-week levels that are about 185% higher than current prices.
An Ambitious 2H/2023 Agenda
That $0.08 target is not overly ambitious considering the value drivers AABB has put into play. Most recently, AABB announced migrating its AABBG Token, a prominent blockchain project, from the Ethereum blockchain to the Algorand blockchain. The migration process, expected to be completed in the coming weeks, will provide token holders with improved transaction efficiency, reduced costs, and increased transparency. Moreover, transitioning to Algorand demonstrates AABB's commitment to enhancing the overall user experience and meeting the evolving needs of its community, resulting from leveraging Algorand's advanced features and benefits to create a seamless and efficient digital ecosystem.
The migration to Algorand supports AABB's digital assets improvement initiative by taking advantage of the Algorand platform's numerous benefits, including lower transaction costs, faster processing speeds, increased liquidity, and improved user satisfaction. By capitalizing on these advantages, AABB intends to synergize the growth of the AABBG token, AABB Exchange, and PayAABB to promote widespread use, boost transaction volumes, and expand profitability in its digital business segment.
Keep in mind its mission will add to AABB's already impressive financials. In Q1 2023, AABB recorded a gross profit of $4.6 million, primarily driven by the outstanding performance of its digital assets segment. Notably, the AABBG token contributed $3.9 million in sales, while the Golden Baboons Mining Club NFT saw strong initial sales. While that quarter was good, AABB expects better revenues ahead. And the better news is that those dollars could fall faster to its bottom line from a new processing facility in the second half of 2023 providing more efficient transactions. Combined with other initiatives to boost revenues in the latter half of the year, AABB is positioned to exceed expectations.
Growing Through Efficient And Diversified Processes
Here's more good news. AABB is taking extra steps to ensure an efficient and safe transition for AABBG token holders during migration by pre-funding Algorand accounts to facilitate the conversion. Existing AABBG Tokens on the Ethereum blockchain will be converted to the new Algorand-based AABBG Tokens at a one-to-one ratio. These measures maintain the value and integrity of users' holdings. Also, AABB noted providing updates and client support throughout the migration process, further emphasizing their dedication to customer satisfaction and value preservation.
While AABB is establishing its leading role in the digital assets market, it's essential to know that the company is more than that. AABB is also a resource company focused on producing, supplying, and selling precious and base metals, primarily targeting Asian markets. The company leverages its geographic expertise, experience, and industry contacts to facilitate an innovative distribution process from production and supply in Mexico to client sales networks in Asia. This vertical integration gives AABB a distinct advantage, enabling efficient transactions and diversified revenue opportunities.
To maximize value from this interest, AABB strategically incorporated a digital assets component into its business model in June. This move was supported by introducing the AABBG mine-to-token gold-backed cryptocurrency within the AABB Wallet. Additionally, AABB introduced its proprietary digital exchange, AABBExchange, the cryptocurrency payment gateway solution PayAABB.com, and the Golden Baboons Mining Club NFT collection. By embracing these initiatives and transitioning to Algorand, AABB intends to establish its token as a trusted worldwide standard of exchange backed by gold. If so, current share prices present a ground-floor opportunity.
Leveraging Bonanza Gold Mine Asset
Asia Broadband is certainly optimistic about its near and long-term potential, expecting its gold-backed AABB Gold token, along with the AABB Wallet, to have the potential to become a global leader in providing a secure, transparent, and trusted exchange backed by the world's most precious commodity: gold. While ambitious, it's worth noting that AABB has a track record of delivering success.
That's evident in the progress made in its exploration and development activities at the Bonanza Gold Mine Project in Acaponeta, Nayarit, Mexico. There, its 100% owned registered concession at this mine has shown great potential for recoveries that surpass initial expectations. These findings are not just AABB's claims but are supported by a certified geological technical report prepared by Micon International Limited. The report highlights preliminary mineral resource estimates exceeding $10 million based on current spot precious metal prices. These estimates and ongoing work provide a strong foundation for AABB's exploration, development, and resource expansion program, as well as improved production, efficiency, and processing equipment installations.
Acknowledging that the Bonanza gold project can be a substantial value driver is supported by precedent. That proven history is pushing AABB to expedite developing its project locations, supported by residing in the mining-rich region of Acaponeta, Nayarit, Mexico. Here's the better news. The Bonanza property has already demonstrated high-grade gold assay results, with some samples and drilling activities yielding gold values exceeding 10 grams per ton (g/t). This bullish measure positions AABB for accelerated growth, considering the anticipated high production levels and low operating costs. Consequently, revenues can rapidly contribute to strengthening AABB's bottom line.
A Value Proposition Exposed
All tolled, at roughly $0.03 on Monday, AABB stock presents a compelling value. And part of that is revenues alone, which help separate AABB from most low-priced investment opportunities. Even so, AABB is not a pure revenues play; it's a sum of its parts consideration whose total value does not appear appropriately reflected at current prices.
In fact, a higher valuation is warranted by appraising both the intrinsic and inherent value connected to its portfolio. And the case for why isn't hard to make. AABB even provides the evidence through its public disclosures that could lead new investors to make the same conclusion others are making- Asia Broadband is in hyper-growth mode and, as a result, may be exposing an investment proposition too good to ignore.
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