LAS VEGAS, Aug. 1, 2019 /PRNewswire/ -- Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., today confirmed management's intent to up-list the company to the OTCQB. The company recently reported a minimum $5 million gross profit expectation for 2019. Management also recently reported conducing meetings of the Board of Directors and the Management Committee to pass resolutions to proceed with an initiative to select and engage a qualified auditor. The primary goal of this initiative is to develop an efficient relationship with a firm that will produce the Company's audited financial statements required to apply for the OTCQB tier with OTC Markets.
The Company's auditor selection process will target firms that have qualified staff with experience conducting mining company audits. Suitable candidate firms must be registered with the Public Company Accounting Oversight Board (PCAOB), peer review qualified members of the American Institute of Certified Public Accountants (AICPA) and licensed in the state where they practice. The Company intends to submit numerous requests for proposal to firms meeting these qualifications to begin the evaluation process.
Asia Broadband Inc. (AABB), through its wholly owned subsidiary Asia Metals Inc., is a resource company focused on the production, supply and sale of precious and base metals, primarily to Asian markets. The Company utilizes its specific geographic expertise, experience and extensive industry contacts to facilitate its innovative distribution process from the production and supply of precious and base metals in Guerrero, Mexico, to our client sales networks in Asia. This vertical integration approach to sales transactions is the unique strength of Asia Broadband and differentiates the Company to its shareholders.
Forward-Looking Statements are contained in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Asia Broadband Inc.'s (the "Company") expected current beliefs about the Company's business, which are subject to uncertainty and change. The operations and results of the Company could materially differ from what is expressed or implied by the statements made above when industry, regulatory, market and competitive circumstances change. Further information about these risks can be found in the annual and quarterly disclosures the Company has published on the OTC Markets website. The Company is under no obligation to update or alter its forward-looking statements as future circumstances, events and information may change.