Asia Broadband, Inc. (OTCMKTS:AABB) is moving higher in the opening session and extending weekly gains to 50%.
AABB Releases News Today
Asia Broadband Reduces Total Outstanding Shares With 107 Million Share Retirement
- announce that AABB’s management and Board of Directors have approved the retirement and return of 107 million restricted common shares to the Company treasury.
- The share retirement process has been initiated with the Company’s transfer agent and is anticipated to be completed in the coming weeks. The Company initiative to create shareholder value led to the agreements with several third-party shareholders to retire the shares.
- AABB expects to retire additional shares to the Company treasury in the near future with the ongoing plans to continue the shareholder value initiative.
- In other Company news, AABB will be releasing a progress update of the Company’s proprietary cryptocurrency exchange version of the AABB Wallet that has been under development with Core State Holdings, Corp. since the recent launch of the AABBG gold-backed token.
- After completion in the coming months, the exchange will allow AABB Wallet users to complete quick two-way exchanges of their AABB Gold tokens for major cryptocurrencies such as Bitcoin, Ethereum and Litecoin.
Market Action
As of 9:52, AABB stock went up 3.36% to $0.215. The stock has traded 2.867 million shares, compared to its average volume of 58.84 million shares. After opening at $0.46, the stock has moved within a wide range of $0.4300 – 0.4640.
 Announces Share Retirement){kind=link}