Asia Broadband Inc (AABB)

[NotTheRealBeeny]

Since we're into Guerrero and metal backing again...

OTC MARKETS COMPLAINT – 2021 GUERRERO SALE

Subject: Request for Review – 2021 Annual Disclosure of Asia Broadband Inc. (AABB)

I am requesting a compliance review of Asia Broadband Inc. (AABB) based on irregularities in its 2021 Annual Disclosure posted on otcmarkets.com.

Issues observed

1. The filing records a $67.2M “Gain on Sale of Property and Equipment,” but no buyer, contract, or proceeds schedule is identified.

2. Press releases name the buyer as “Qiangda Investments & Economics Co., Ltd.” but the entity does not appear in the financial statements. Earlier filings (2018–2019) list a nearly identical name “Qianda Investments & Economics Co., Ltd.” as a prior funder.

3. A new $30M “Gold & Silver Bullion” asset appears with no custodian or valuation note.

4. The statement of cash flows does not show any cash inflow consistent with the reported sale.

5. The audit line states “Unaudited – Management Prepared,” despite public claims that Turner Stone & Co. was engaged.


Please review whether the 2021 Annual Disclosure meets OTC Markets Alternative Reporting requirements for verifiable transactions and consistent cash-flow reconciliation.

References:
– 2021 Annual Disclosure, pages 8–9 (Gain on Sale and Bullion lines), page 24 (Audit status)
– Jan 12 2021 press release: “Asia Broadband Completes Guerrero Sale to Qiangda Investments & Economics Co., Ltd.”

SUBMIT TO SEC AND OTC MARKETS




COVER SHEET – 2021 ANNUAL DISCLOSURE

Asia Broadband Inc. (AABB)
Subject: 2021 Annual Disclosure – Unsupported Guerrero Sale and Bullion Entries

Primary filing: 2021 Annual Disclosure at otcmarkets.com/stock/AABB/disclosure
• Page 8 – “Gain on Sale of Property and Equipment $67,200,000”
• Page 8 – “Gold & Silver Bullion $30,000,000”
• Page 9 – Total Revenue ˜ $12.8M / Net Income ˜ $67.1M
• Page 24 – Audit status “Unaudited – Management Prepared”

Press releases:
• Jan 12 2021 – Announces $82M Guerrero sale ($52M cash + $30M bullion + 28 % equity).
• Feb 23 2021 – Follow-up referencing bullion delivery and audit review.

Discrepancies:

1. No buyer identification or proceeds schedule in filing.

2. No cash inflow for the claimed $52M cash portion.

3. $30M bullion asset lacks custodian and valuation note.

4. Press and filings reference similar names (“Qiangda” vs “Qianda”).

5. Filing remains unaudited despite audit claims.

Request:

Verify that AABB’s 2021 disclosure satisfies Alternative Reporting standards for documentation and reconciliation.