Replies to post #118185 on Asia Broadband Inc (AABB)

[NotTheRealBeeny]

You’re demanding a magic sentence that contains the word “verify.” That’s not how GAAP is written.

GAAP establishes what qualifies as an asset, and it requires financial statements to be free of material misstatement. It does not need to say “verified” for existence to be required. Existence is baked into the definition.

AABB “asserts the gold exists” is irrelevant. Management assertion is not GAAP evidence. Under GAAP, an asset is a present resource controlled as a result of past events. If it does not exist in reality, it is not an asset, full stop.

Here is the part you keep dodging:

Existence is not “interpretation.” It is a factual condition.

When auditors test financial statements, “Existence” is a core assertion. They confirm it with inspection, confirmations, custody records, inventory counts, and third-party documentation because that is what is required to avoid material misstatement. That is not a “third party requirement in GAAP.” That is how existence is established in the real world.

You are confusing 2 different things:

1. GAAP does not require companies to publish proof to message boards.

2. GAAP does require that recorded assets be real and not materially misstated.


Your contract analogy fails. GAAP is a standards framework, not a contract, and courts do not need to “adjudicate the intention of GAAP” to know that an asset must exist to be recorded as an asset.

So here’s the end of it.

If the $30M gold exists, produce ordinary evidence that any real bullion position has: custody, vault statement, bar list, refiner or dealer documentation, or third-party confirmation.

If you can’t, stop pretending your “show me the word verify” game disproves anything. All it proves is you are trying to win on semantics instead of substance (surprise!).

AABB claimed gold.
AABB recorded gold.
Evidence of gold is what settles it.

No evidence, unverified asset. That’s it.

[NotTheRealBeeny]

In the simplest terms I can think of...

If I tell a bank I own a $500,000 house and want a loan, does the bank accept “I assert it exists”?

Or do they check title, appraisal, and records?

By your logic, the bank would be “interpreting” the rules if it asked for proof.

That’s how ridiculous your argument is.

AABB recorded $30M in physical gold. Recording it means it’s being relied on as real.

“No rule says verify” is not a defense. It’s an admission that you think assertion equals existence.

In finance, it doesn’t.

If the gold exists, show ordinary evidence.

If you can’t, you’re defending faith, not accounting.

And that’s the end of it.

[rbtree]

A blatant lie AABB asserts that the gold exists.

The lie has been well known since the first time the $30m number showed up in their fraudulent "financials"

[gemstar66]

I agree, I don't see anything happening to AABB up or down. They delayed phase 2 til later this year. That is a setback. 300 tpd mean's no growth. But here we are at $5000. Gold. They wouldn't have 28 people working the sight if they weren't making money. If, and when they ever get to 1000 TPD This company will prosper.