Asia Broadband Inc (AABB)

[alidare]

BOD now have control of this company and they have fiduciary duties to the shareholders.

“Fiduciary duty requires board members to stay objective, unselfish, responsible, honest, trustworthy, and efficient. Board members, as stewards of public trust, must always act for the good of the organization, rather than for the benefit of themselves.”

“Company has received a total of $2.8 million from the four directors of the Company for the purchase of preferred shares. A total of 28 million non-convertible, preferred shares were issued at the par value of $0.10 per share *****with each share having 100 voting rights*****and equal participation with common shares for all future dividends. The Company President and CEO, Chris Torres, purchased $2.4 million of the total preferred share issuance. The entire $2.8 million share sale proceeds will be allocated to the Company’s capital expansion programs.”

https://www.globenewswire.com/en/news-release/2022/04/26/2429000/0/en/Asia-Broadband-Completes-2-8-Million-Directors-Investment-To-Advance-Expansion-Programs.html