Asia Broadband, Inc.
Balance Sheets
(Unaudited)
Quarter Ended
March 31,
Year Ended,
December 31,
2024 2023
ASSETS
CURRENT ASSETS
Cash & Equivalents $
57,678,597 $ 58,444,896
Accounts Receivable 129,838 108,080
Prepaid Expenses 67,784 67,784
TOTAL CURRENT ASSETS 57,876,219 58,620,760
OTHER ASSETS
Gold Bullion 31,000,000 31,000,000
Mineral Properties, Concessions & Licenses 14,599,966 13,211,365
Property, Plant and Equipment - Net of Depreciation 5,465,543 5,325,810
Digital Currencies 5,711,131 6,011,393
Digital Development 2,586,458 2,316,802
TOTAL OTHER ASSETS 59,363,098 57,865,370
TOTAL ASSETS $ 117,239,317 $ 116,486,130
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable and accrued liabilities $$ 127,004 $ 101,186
Due to related parties 11,864 11,864
TOTAL CURRENT LIABILITIES 138,868 113,050
NON-CURRENT LIABILITIES
Convertible notes payable and accrued interest 533,656 523,119
TOTAL LIABILITIES $ 672,524 $ 636,169
STOCKHOLDERS' EQUITY
Common A stock, 3,600,000,000 $0.0001 par value
Authorized, 3,104,401,657 and 3,104,401,657 Issued $ 1,476,053 $ 1,476,053
Additional paid-in capital 28,050,643 28,050,643
Preferred stock, 50,000,000 $0.10 par value shares
Authorized, 48,000,000 and 48,000,000 Issued $ 4,800,000 $ 4,800,000
Accumulated surplus
82,240,097 81,523,265
TOTAL STOCKHOLDERS' EQUITY 116,566,793 115,849,961
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $
$ 117,239,317 $ 116,486,130
The accompanying notes are an integral part of these statements
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 12 of 27
Asia Broadband, Inc.
Statements of Operations
(Unaudited)
Quarter Year
Ended Ended
March 31, December 31,
2024 2023
REVENUES
Mineral Production Sales $ 1,462,986 $ 2,584,151
Cost of Mining Production (251,634) (470,993)
Net Production Revenue 1,211,352 2,113,158
Brokered Mineral Sales - -
Digital Token Sales - 4,488,028
Digital Token Exchange Fees - 62,634
Gross Profit From Operations $ 1,211,352 $ 6,663,820
EXPENSES
Consulting fees $ 111,838 $ 473,494
Depreciation and amortization 206,204 589,196
Director fees 60,000 240,000
Executive management fees - -
General and administrative 41,690 171,682
Travel and vehicle 33,265 270,560
Marketing and business development 19,184 253,209
Legal & Professional fees 11,802 152,092
Research and development - -
Stock-based compensation - -
Write-off of assets - -
$ 483,983 2,150,233
Net Income/(Loss) from Operations $ 727,369 $ 4,513,587
OTHER INCOME (EXPENSES)
Gain on sale of property & equipment - -
Miscellaneous - -
Interest income - -
Debt cancellation income - -
Interest expense (10,537) (46,058)
Net Income/(Loss) before minority
interest $ 716,832 $ 4,467,529
Minority interest - -
Net lncome/(Loss) for the period $ 716,832 $ 4,467,529
Net lncome/(Loss) per common share -
basic and diluted $ 0.0002 $ 0.0016
Weighted average shares outstanding 3,104,401,657
2,881,901,657
The accompanying notes are an integral part of these statements
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 13 of 27
Asia Broadband, Inc.
Statements of Cash Flows
(Unaudited)
Quarter Year
Ended Ended
March 31, December 31,
2024 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss) $ 716,832 $ 4,467,529
Adjustments to reconcile net loss to - -
Net cash used in operating activities: - -
Depreciation and amortization 206,204 589,196
Amortization of debt discount - -
Stock-based compensation - -
Loss on settlement of management fees - -
Minority interest - -
Debt cancellation - -
Accounts Receivable (21,758) (74,884)
Accounts Payable 18,924 61,282
Accrued interest convertible notes payable 10,537 46,058
Gain on sale of assets - -
$ 930,739 $ 5,089,181
CASH FLOWS FROM INVESTING ACTIVITIES
Asset purchase of mineral concessions $ (1,000,000) $ -
Mineral exploration & development expenditures (388,601) (2,546,980)
Asset purchases - Property, plant & Equipment (345,937) (3,531,646)
Digital assets development (269,656) (814,338)
Gold bullion additions from production - -
Net proceeds from assets sale - -
$ (2,004,194) $ (6,892,964)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from equipment sale $ - $ -
Proceeds from preferred share sales - 2,000,000
Advances from (payments to) related parties - -
Digital currency payments (307,156) (3,113,385)
$ (307,156) $ (1,113,385)
NET CHANGE IN CASH $ (766,299) $ (2,917,168)
CASH AT BEGINNING 58,444,896 61,362,064
CASH AT END $ 57,678,597 $ 58,444,896
The accompanying notes are an integral part of these statements
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 14 of 27
Asia Broadband, Inc.
Statement of Stockholders' Equity
(Unaudited)
Reduction
Class A Additional Sub- for initial Total
Common Shares Paid-in scriptions Accumulated contribution Stockholders'
Shares Amount Capital Payable Deficit of services Equity
Issued on January 24, 1996 (inception) 80,000,000 $ 80,000 $ - - $ - (75,000) $ 5,000
Net loss for the period - - - - (5,000) - (5,000)
Balance, December 31, 1996 80,000,000 80,000 - - (5,000) (75,000) -
Net loss for the year - - - - (100) - (100)
Balance, December 31, 1997 80,000,000 80,000 - - (5,100) (75,000) (100)
Net loss for the year - - - - (100) - (100)
Balance, December 31, 1998 80,000,000 80,000 - - (5,200) (75,000) (200)
Net loss for the year - - - - (1,000) - (1,000)
Balance, December 31, 1999 80,000,000 80,000 - - (6,200) (75,000) (1,200)
Repurchase and cancellation (68,000,000) (68,000) (7,000) - - 75,000 -
Shares for consulting services at $1
per share in January 2000 2,500,000 2,500 2,497,500 - - - 2,500,000
Issuance of units for cash at $1
per unit in June 2000 1,780,000 1,780 1,778,220 - - 1,780,000
Net loss for the year - - - - (3,101,801) - (3,101,801)
Balance, December 31, 2000 16,280,000 16,280 4,268,720 (3,108,001) - 1,176,999
Shares for services in March 2001 at
$0.25 per share 450,000 450 112,050 - - - 112,500
Shares for services in June 2001 at
$0.20 per share 100,000 100 19,900 - - - 20,000
Stock option compensation - - 91,623 - - - 91,623
Net loss for the year - - - - (1,045,514) - (1,045,514)
Balance, December 31, 2001 16,830,000 16,830 4,492,293 - (4,153,515) - 355,608
Shares for cash at $0.25 per share in
December 2002, net of finder's fee 1,000,000 1,000 236,500 - - - 237,500
Discount on convertible notes payable - - 27,273 - - - 27,273
Stock option compensation - - 79,912 - - - 79,912
Net loss for the year - - - - (794,200) - (794,200)
Balance, December 31, 2002 17,830,000 17,830 4,835,978 - (4,947,715) - (93,907)
Shares for cash at $0.30 per share in
June 2003 166,667 167 49,833 - - - 50,000
Shares for cash at $0.30 per share in
July 2003 4,116,667 4,117 1,230,883 - - - 1,235,000
Issuance of shares for finder's fee 216,000 216 (216) - - - -
Shares for services at $0.055 per
share in July 2003 4,500,000 4,500 243,000 - - - 247,500
Shares for services at $0.055 per
share in September 2003 1,800,000 1,800 97,200 - - - 99,000
Shares for management fees at
$0.08 per share in November 2003 1,178,300 1,178 93,086 - - 94,264
Shares for conversion of notes
payable in November 2003 1,000,000 1,000 299,000 - - - 300,000
Subscription received for shares - - - 250,000 - - 250,000
Stock option compensation - - 343,244 - - - 343,244
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 15 of 27
Net loss for the year - - - - (2,171,881) (2,171,881)
Balance, December 31, 2003 30,807,634 30,808 7,192,008 250,000 (7,119,596) 353,220
Shares for cash at $ 0.30 per share
in January 2004 833,334 833 249,167 (250,000) - -
Shares for cash at $ 0.50 per share
in February 2004 2,000,000 2,000 998,000 - - 1,000,000
Shares for cash at $ 0.50 per share
in March 2004 290,000 290 144,710 - - 145,000
Shares to be issued for services at
$0.19 per share in September 2004 100,000 100 18,900 - - 19,000
Shares to be issued for services at
$0.055 per share in September 2004 5,500,000 5,500 297,000 - - 302,500
Discount on convertible note - - 451,732 - - 451,732
Stock option compensation - - 1,010,963 - - 1,010,963
Net loss for the year - - - - (3,235,942) (3,235,942)
DECEMBER 31, 2004 BALANCES 39,530,968 39,531 10,362,480 - (10,355,538) - 46,473
Adjust share balance 10,000 10.00 (10.00) - - -
Net loss for the year - - - - (1,101,380) (1,101,380)
DECEMBER 31, 2005 BALANCES 39,540,968 39,541 10,362,470 - (11,456,918) - (1,054,907.00)
Net loss for the year - - - - (152,236) - (152,236.00)
DECEMBER 31, 2006 BALANCES 39,540,968 39,541 10,362,470 - (11,609,154) - (1,207,143.00)
Net loss for the year - - - - (22,900) - (22,900.00)
DECEMBER 31, 2007 BALANCES 39,540,968 39,541 10,362,470 - (11,632,054) - (1,230,043.00)
Net loss for the year - - - - (22,900) - (22,900.00)
DECEMBER 31, 2008 BALANCES 39,540,968 39,541 10,362,470 - (11,654,954) - (1,252,943.00)
Net loss for the year - - - - (22,900) - (22,900.00)
DECEMBER 31, 2009 BALANCES 39,540,968 39,541 10,362,470 - (11,677,854) - (1,275,843.00)
Net loss for the year - - - - (22,900) - (22,900.00)
DECEMBER 31, 2010 BALANCES 39,540,968 39,541 10,362,470 - (11,700,754) - (1,298,743.00)
Shares issued for services and
expenses
at $0.001 per share on March 3, 2011 300,000,000 300,000 - - - - 300,000
Net loss for the year - - - - (322,900) - (322,900)
DECEMBER 31, 2011 BALANCES 339,540,968 339,541 10,362,470 - (12,023,654) - (1,321,643)
Net loss for the year - - - - (22,900) - (22,900)
DECEMBER 31, 2012 BALANCES 339,540,968 339,541 10,362,470 - (12,046,554) - (1,344,543.00)
Net loss for the year - - - - (22,900) - (22,900)
DECEMBER 31, 2013 BALANCES 339,540,968 339,541 10,362,470 - (12,069,454) - (1,367,443.00)
Net loss for year-RESTATED - - - - (34,112) - (34,112)
DECEMBER 31, 2014 BALANCES 339,540,968 339,541 10,362,470 - (12,103,566) - (1,401,555)
Net income for year - - - - 1,017,373 - 1,017,373
DECEMBER 31, 2015 BALANCES 339,540,968 339,541 10,362,470 - (11,086,193) - (384,182)
Net income for year - - - (217,019) - (217,019)
DECEMBER 31, 2016 BALANCES 339,540,968 339,541 10,362,470- (11,303,212) - (601,201)
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 16 of 27
Net income for year - - - - (12,008) - (12,008)
DECEMBER 31, 2017 BALANCES 339,540,968 339,541 10,362,470 - (11,315,220) - (613,209)
Net income for quarter - - - - 725,735 - 725,735
MARCH 31, 2018 BALANCES 339,540,968 339,541 10,362,470 - (10,589,485) - 112,526
Shares issued for convertible debt
reduction at $0.02 per share on
May 7, 2018 5,000,000 5,000 95,000 - - 100,000
Net income for quarter - - - - 802,197 - 802,197
JUNE 30, 2018 BALANCES 344,540,968 344,541 10,457,470 - (9,787,288) -
1,014,723
Net income for quarter - - - - 874,544 - 874,544
SEPTEMBER 30, 2018 BALANCES 344,540,968 344,541 10,457,470 - (8,912,744) -
1,889,267
Shares issued for convertible debt
reduction at $0.02 per share on
Oct. 15, 2018 3,000,000 3,000 57,000 - - 60,000
Shares issued for equity funding
at $0.24 per share on
Nov. 22, 2018 20,443,586 20,443 4,979,557 - -
5,000,000
Shares issued for convertible debt
reduction at $0.01 per share on
Nov. 30, 2018 6,162,500 6,162 55,463 - - 61,625
Net income for quarter - - - - 949,583 - 949,583
DECEMBER 31, 2018 BALANCES 374,147,054 374,147 15,549,488 - (7,963,161) -
7,960,475
Shares issued for convertible debt
reduction at $0.02 per share on
Jan. 25, 2019 15,000,000 15,000 135,000 - - 150,000
Shares issued for awareness
services Feb. 18, 2019 2,500,000 2,500 47,500 - - 50,000
Shares issued for convertible debt
reduction at $0.02 per share on
Mar. 12, 2019 10,000,000 10,000 90,000 - - 100,000
Net income for quarter - - - -
1,000,635 -
1,000,635
MARCH 31, 2019 BALANCES 401,647,054 401,647 15,821,988 - (6,962,526) -
9,261,110
Shares issued for convertible debt
reduction at $0.01 per share on
May 31, 2019 10,000,000 10,000 90,000 - - 100,000
Net income for quarter - - - - 1,255,489 -
1,255,489
JUNE 30, 2019 BALANCES 411,647,054 411,647 15,911,988 - (5,707,037) -
10,616,599
Shares issued for convertible debt
reduction at $.005 per share on
July 5, 2019 15,000,000 15,000 60,000 - - 75,000
Shares issued for convertible debt
reduction at $.005 per share on
July 31, 2019 15,000,000 15,000 60,000 - - 75,000
Shares issued for convertible debt
reduction at $.005 per share on
Aug. 2, 2019 15,000,000 15,000 60,000 - - 75,000
Shares issued for convertible debt
reduction at $.005 per share on
Aug. 30, 2019 12,000,000 12,000 48,000 - - 60,000
Net income for quarter - - - - 1,430,455 - 1,430,455
SEPTEMBER 30, 2019 BALANCES 468,647,054 468,647 16,139,988 - (4,276,582) -
12,332,054
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 17 of 27
Shares issued for convertible debt
reduction at $.005 per share on
Nov. 5, 2019 20,000,000 20,000 80,000 - - 100,000
Shares issued for awareness
services at $.004 per share on
Nov. 18, 2019 4,680,000 4,680 13,104 - - 17,784
Shares issued for equity funding
at $0.24 per share on Dec. 6, 2019 36,798,455 36,798 8,963,202 -
9,000,000
Shares issued for convertible debt
reduction at $.003 per share on
Dec. 18, 2019 45,000,000 45,000 90,000 - - 135,000
Net income for quarter - - - -
1,668,894 -
1,668,894
DECEMBER 31, 2019 BALANCES 575,125,509 575,125 25,286,294 - (2,607,688) -
23,253,731
Shares issued for convertible debt
reduction at $.003 per share on
Jan. 2, 2020 30,000,000 30,000 60,000 - - 90,000
Shares issued for convertible debt
reduction at $.002 per share on
Feb. 20, 2020 50,000,000 50,000 50,000 - - 100,000
Shares issued for convertible debt
reduction at $.002 per share on
Mar. 20, 2020 55,000,000 55,000 55,000 - - 110,000
Net income for quarter - - - - 3,087,628 - 3,087,628
MARCH 31, 2020 BALANCES 710,125,509 710,125 25,451,294 - 479,940 -
26,641,359
Shares issued for convertible debt
reduction at $.002 per share on
May 20, 2020 50,000,000 50,000 50,000 - - 100,000
Shares issued for convertible debt
reduction at $.002 per share on
June 2, 2020 50,000,000 50,000 50,000 - - 100,000
Net income for quarter - - - - 2,725,058 - 2,725,058
June 30, 2020 BALANCES 810,125,509 810,125 25,551,294 - 3,204,999 -
29,566,418
Shares issued for convertible debt
reduction at $.001 per share on
July 9, 2020 65,000,000 65,000 - - - 65,000
Shares issued for convertible debt
reduction at $.001 per share on
July 22, 2020 65,000,000 65,000 - - - 65,000
Shares issued for convertible debt
reduction at $.001 per share on
July 28, 2020 40,000,000 40,000 - - - 40,000
Shares issued for convertible debt
reduction at $.001 per share on
Aug. 23, 2020 75,000,000 75,000 - - - 75,000
Shares issued for convertible debt
reduction at $.001 per share on
Aug. 26, 2020 75,000,000 75,000 - - - 75,000
Net income for quarter - - - - 2,955,196 - 2,955,196
September 30, 2020 BALANCES 1,130,125,509 1,130,125 25,551,294 - 6,160,195 -
32,841,614
Shares issued for convertible debt
reduction at $.001 per share on
Oct 14, 2020 75,000,000 75,000 - - - 75,000
Shares issued for convertible debt
reduction at $.001 per share on
Nov. 3, 2020 95,000,000 95,000 - - - 95,000
Shares issued for convertible debt
reduction at $.0004 per share on
Nov. 30, 2020 100,000,000 10,000 30,000 - - 40,000
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 18 of 27
Shares issued for convertible debt
reduction at $.0004 per share on
Dec. 3, 2020 100,000,000 10,000 30,000 - - 40,000
Net income for quarter - - - - 4,400,777 -
4,400,777
December 31, 2020 BALANCES 1,495,125,509 1,315,125 25,611,294 - 10,560,972 -
37,487,391
Shares issued for convertible debt
reduction at $.0004 per share on
Jan 5, 2021 100,000,000 10,000 30,000 - - 40,000
Shares issued for convertible debt
reduction at $.0004 per share on
Jan 7, 2021 125,000,000 12,500 37,500 - - 50,000
Shares issued for convertible debt
reduction at $.0004 per share on
Jan 25, 2021 125,000,000 12,500 37,500 - - 50,000
Shares issued for convertible debt
reduction at $.0004 per share on
Feb 6, 2021 100,000,000 10,000 30,000 - - 40,000
Shares issued for convertible debt
reduction at $.0004 per share on
Mar 10, 2021 100,000,000 10,000 30,000 - - 40,000
Net income for quarter - - - -
67,755,703 -
67,755,703
March 31, 2021 BALANCES 2,045,125,509 1,370,125 25,776,294 - 78,316,675 -
105,463,094
Shares issued for market awareness
extension at $.0001 per share on
Apr. 2, 2021 1,000,000 100 - - - 100
Shares issued for convertible debt
reduction at $.0004 per share on
Apr. 20, 2021 160,000,000 16,000 48,000 - - 64,000
Shares issued for restricted share
dividend at $.0001 per share on
May 3, 2021 43,262,767 4,326 645,589 - - 649,915
Shares retired and cancelled
at $.0001 per share on
May 27, 2021 (120,443,586) (12,044) - - - (12,044)
Net income for quarter - - - - 38,807 - 38,807
June 30, 2021 BALANCE 2,128,944,690 1,378,507 26,469,883 - 78,355,482 -
106,203,872
Shares issued for convertible debt
reduction at $.0004 per share on
July 2, 2021 165,000,000 16,500 49,500 - - 66,000
Net income for quarter - - - - (176,031) - (176,031)
Sept. 30, 2021 BALANCES 2,293,944,690 1,395,007 26,519,383 - 78,179,451 -
106,093,841
Shares issued for convertible debt
reduction at $.0004 per share on
Oct. 4, 2021 100,000,000 10,000 30,000 - - 40,000
Net income for quarter - - - - 537,159 - 537,159
Dec. 31, 2021 BALANCES 2,393,944,690 1,405,007 26,549,383 - 78,716,610 -
106,671,000
Shares issued for convertible debt
reduction at $.0004 per share on
Feb. 22, 2022 75,000,000 7,500 22,500 - - 30,000
Preferred share issuance
Mar.15, 2022 28,000,000 2,800,000 - - - - 2,800,000
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 19 of 27
Net income for quarter - - - - (501,872) - (501,872)
Mar. 31, 2022 BALANCES 2,468,944,690 4,212,007 26,571,883 - 78,214,738 -
108,999,128
Preferred Shares 28,000,000
Shares issued for convertible debt
reduction at $.0004 per share on
May 2, 2022 25,000,000 2,500 7,500 - - 10,000
Net income for quarter - - - - (139,215) - (139,215)
June 30, 2022 BALANCES 2,493,944,690 4,215,007 26,579,383 - 78,075,523 -
108,869,913
Preferred Shares 28,000,000
Shares issued for convertible debt
reduction at $.0004 per share on
Sept. 10, 2022 50,000,000 5,000 15,000 - - 20,000
Shares issued for restricted share
dividend at market on Sept. 15, 2022 25,456,967 2,546 1,295,760 - (1,298,305) -
Net income for quarter - - - - 114,703 - 114,703
Sept. 30, 2022 BALANCES 2,569,401,657 4,222,553 27,890,143 - 76,891,921 -
109,004,616
Preferred Shares 28,000,000
Shares issued for convertible debt
reduction at $.0004 per share on
Oct 15, 2022 90,000,000 9,000 27,000 - - 36,000
Net income for quarter - - - - 163,815 - 163,815
Dec. 31, 2022 BALANCES 2,659,401,657 4,231,553 27,917,143 - 77,055,735 -
109,204,431
Preferred Shares 28,000,000
Net income for quarter - - - - 4,009,394 - 4,009,394
March 31, 2023 BALANCES 2,659,401,657 4,231,553 27,917,143 - 81,065,129 -
113,213,825
Preferred Shares 28,000,000
Shares issued for convertible debt
reduction at $.0004 per share on
April 18, 2023 175,000,000 17,500 52,500 - - 70,000
Shares issued for convertible deb
reduction at $.0004 per share on
April 25, 2023 150,000,000 15,000 45,000 - - 60,000
Net income for quarter - - - - 51,502 - 51,502
June 30, 2023 BALANCES 2,984,401,657 4,264,053 28,014,643 - 81,116,631 -
113,395,397
Preferred Shares 28,000,000
Net income for quarter - - - - 306,048 - 306,048
September 30, 2023 BALANCES 2,984,401,657 4,264,053 28,014,643 - 81,422,680 -
113,701,375
Preferred Shares 28,000,000
Asia Broadband Inc. - Quarterly Disclosure – March 31, 2024 Page 20 of 27
Preferred share issuance
Oct.2, 2023 20,000,000 2,000,000 - - - - 2,000,000
Shares issued for convertible debt
reduction at $.0004 per share on
Oct.3, 2023 120,000,000 12,000 36,000 - - 48,000
Net income for quarter - - - - 100,585 - 100,585
Dec. 31, 2023 BALANCES 3,104,401,657 6,276,053 28,050,643 - 81,523,265 -
115,849,960
Preferred Shares 48,000,000
Net income for quarter - - - - 716,832 - 716,832
March 31, 2024 BALANCES 3,104,401,657 6,276,053 28,050,643 - 82,240,097 -
116,566,792
Preferred Shares 48,000,00
