Media & Technology
Healthier Choices Management Corp. (OTCMKTS: HCMC) Powerful Comeback Brewing as PMI Patent Infringement Lawsuit Moves Forward
Published
2 years agoon
By
Boe Rimes
Healthier Choices Management Corp. (OTCMKTS: HCMC) is heating up in recent trading with large 6- and 7-digit buys coming in and Thursday’s volume topping $29 million in dollar volume on 2.4 billion shares traded. HCMC has emerged in recent months as an investors favorite and is currently among the most actively searched and talked about stocks in small caps with well over 300,000 shareholders of record. Currently under heavy accumulation HCMC is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.0065 and its blue skies ahead. Helping liquidity is HCMC management team who successfully eliminated 90% of the convertible debt on the books some time ago. CEO Jeff Holman said at the time: “We believe that this trade, which has saved HCMC and its shareholders approximately $29M of potential dilution, will lead to the re-creation of shareholder value.”
The big story on HCMC is its patent infringement lawsuit against billion-dollar conglomerate Philip Morris USA, Inc. and Philip Morris Products S.A. A settlement or licensing deal could drive HCMC into a whole new stratosphere with no limit to how high HCMC could go. The patent infringement lawsuit against Philip Morris USA, Inc. is moving forward and gaining steam. Representing HCMC is Cozen O’Connor ranked among the top 100 law firms in the country and employing more than 775 attorneys in 29 cities across two continents. The firm’s diverse client list includes global Fortune 500 companies, middle-market firms poised for growth, high-profile individuals and HCMC who must have a seriously solid case against PMI with outstanding chances. HCMC is already a revenue powerhouse doing over $1 million per month in sales in 2020; on March 5 HCMC announced financial results for the fourth quarter and fiscal year ended December 31, 2020. In Q4 the Company delivered improvement in adjusted EBITDA for fiscal year 2020. Net sales from continued operations for the year ended December 31, 2020 amounted to $13.9 million, compared to $15.1 million during the same period last year.
Healthier Choices Management Corp. (OTCMKTS: HCMC) is a U.S based Company providing consumers with healthier alternatives to everyday lifestyle choices. Operating under its wholly owned subsidiaries, Healthy Choice Markets and Healthy Choice Markets 2, the Company owns both Ada’s Natural Market, a 18,000 sq. ft. full-service grocery store serving the Fort Myers, FL, and three (3) Paradise Health & Nutrition locations in the greater Melbourne, FL area. HCMC also operates 8 vape stores across the southeast United States offering smokers an alternative to traditional cigarettes. Operating regionally, through its Vape Store brands, including The Vape Store, Vapor Max, Vulcan Vape, and The Grab Bag locations, the Company’s Vape Stores provide an endless selection of industry best vaping hardware and e-liquids, giving its consumers a way to get their nicotine without the smoke, tar, ash or carbon monoxide found in traditional cigarettes.
The Company is already a revenue powerhouse doing over $1 million per month in sales in 2020; on March 5 HCMC announced financial results for the fourth quarter and fiscal year ended December 31, 2020. In Q4 the Company delivered improvement in adjusted EBITDA for fiscal year 2020. Net sales from continued operations for the year ended December 31, 2020 amounted to $13.9 million, compared to $15.1 million during the same period last year.
Healthier Choices Management Corp. is being led by a powerhouse management team; the CEO Jeffrey Holman is a seasoned executive and corporate lawyer who also serves as President of Jeffrey E. Holman & Associates, P.A., a South Florida Based law firm. Mr. Hofman was also a partner at Holman, Cohen & Valencia. Christopher Santi, HCMC COO and President is sales executive who served as President of Santi Management Corporation before joining the Company. John Ollet the CFO previously served as Executive Vice President-Finance for Systemax, Inc. (NYSE:SYX) North America Technology Division for 10 years. SYX currently trades at $43 per share on the NYSE and does over a billion dollars in annual revenues.
The Company owns a valuable patent portfolio related to both vape technology and also manufacturing processes and procedures for an imitation nicotine product. HCMC’s patented Q-Cup™ technology is based on a small, quartz cup called the Q-Cup™, which a customer can purchase already filled by a third party in some regions, or can partially fill themselves with either cannabis or CBD concentrate (approximately 50mg), also purchased from a third party. The Q-Cup™ can then be inserted into the patented Q-Unit™, which heats the cup from the outside without coming in direct contact with the solid concentrate. This Q-Cup™ and Q-Unit™ technology provides significantly more efficiency and an “on the go” solution for consumers who prefer to vape concentrates either medicinally or recreationally. The Q-Cup™ can also be used in other devices as a convenient micro-dosing system. Most recently, the company formed a wholly owned subsidiary, HCMC Intellectual Property Holdings, LLC, to hold and market its intellectual property assets. This subsidiary will own all of the patents, trademarks and other intellectual property of HCMC and will be utilized in the company’s attempt to monetize its intellectual property.
The big story on HCMC is its patent infringement lawsuit against Philip Morris USA, Inc. and Philip Morris Products S.A. in connection with their product known and marketed as “IQOS®.” The lawsuit was filed in the United States District Court for the Northern District of Georgia. The international law firm Cozen O’Connor has been engaged to represent HCMC in this matter. HCMC’s lawsuit includes claims that Phillip Morris is infringing HCMC’s patent rights in connection with IQOS®, an alternative tobacco product marketed and sold by Phillip Morris. Philip Morris claims that it is currently approaching 14 million users of its IQOS® product and has reportedly invested over $3 billion in their smokeless tobacco products. Philip Morris has been very open about their ongoing transition from traditional fully combustible cigarettes to their modified risk tobacco products, including IQOS®. The Philip Morris IQOS® product is currently the subject of two other patent infringement proceedings filed by RJ Reynolds Tobacco Company. One proceeding is before the International Trade Commission and seeks to stop the importation of the IQOS® product into the United States; the other is a patent infringement action currently pending in the Eastern District of Virginia. RJ Reynolds’ patents are unrelated and not affiliated with the patents asserted in the HCMC case.
In its patent infringement lawsuit against Philip Morris, Cozen O’Connor is representing HCMC; Cozen O’Connor is ranked among the top 100 law firms in the country and employs more than 775 attorneys in 29 cities across two continents. Cozen O’Connor is a full-service firm with nationally recognized practices in litigation, business law, and government relations, and its attorneys have experience operating in all sectors of the economy. The firm’s diverse client list includes global Fortune 500 companies, middle-market firms poised for growth, high-profile individuals and ambitious upstarts like HCMC. Cozen O’Connor has been awarded as the #1 law firm of the year several times, amongst dozens of other awards and would not take on a giant such as Philip Morris unless they knew for sure they have a very strong case and excellent chances.
The Company recently launched its twitter page:
CEO Jeff Holman here. Hi and Welcome to HCMC's REAL Twitter page! Check out our welcome message below for ground rules. A big THANK YOU to our loyal shareholders. This page is in response to you wanting to know more about HCMC and product offerings. Please FOLLOW US! Best, Jeff pic.twitter.com/PCjUK9hYnY
— @HealthierCMC (@healthiercmc) March 8, 2021
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Cozen O’Connor has been busy at court on behalf of HCMC; Upcoming events through beginning of May 2021:
(1) HCMC’s Opposition to PM’s MTD (March 11, 2021): Absent an extension of time to respond, HCMC’s opposition to PM’s MTD is due on or before March 11, 2021. I would expect some form of opposition that includes arguments that (a) dismissal is not warranted because discovery has not happened yet and discovery is needed in order to determine whether combustion is a process that occurs in the accused devices, (b) dismissal is not warranted without a claim construction that construes, amongst other terms, the term “combustion”, and (c) testimony, by way of a declaration, explaining that it is not dispositive, based on the documentary evidence presented by PM’s MTD, that there is no combustion. A well written opposition brief hitting those points will likely result in denial of the MTD. I would also expect that there be a request by HCMC to correct any defects in their complaint, should the court deem there to be any defects. That request is granted liberally and would overcome the MTD for the time being.
(2) Rule 26(f) Meet and Confer (March 15, 2021): This is held in private between lead counsel for all parties. The parties are required to confer in person in an effort to settle the case, discuss discovery, limit issues, and discuss other matters.
(3) PM’s Reply to HCMC’s Opposition (March 25, 2021): Absent an extension of time, PM will have the opportunity to reply to HCMC’s opposition brief regarding the MTD.
(4) Joint Preliminary Report and Discovery Plan (April 12, 2021). Absent an extension of time, the parties will file this report and plan that results from the parties’ Rule 26(f) meeting and conference and sets forth numerous details including, amongst other things, the progress of settlement discussions, a proposed schedule of the case for fact discovery, motion practice, expert discovery, and trial.
(5) Infringement Contentions (May 12, 2021): HCMC is due to serve contentions showing infringement where HCMC will identify (these are usually exchanged between the parties and not made public or filed publicly with sensitive information redacted): (a) Each claim of each patent in suit that is allegedly infringed by each opposing party; (b) Separately for each asserted claim, each accused apparatus, method, composition or other instrumentality (“Accused Instrumentality”) of each accused party of which the claiming party is aware.
On March 29 HCMC announced the relaunching of its Vitamins and Supplements Online Store at TheVitaminStore.com. This online store was originally purchased as part of the acquisition of the HCMC’s 3 Paradise Health & Nutrition branded stores in Melbourne, FL. HCMC will be offering select national brands and, for the first time online, Ada’s high-quality brand of Vitamins and Supplements, previously sold only in Ada’s Natural Market, the Company’s organic grocery store located in Fort Myers, FL.
HCMC CEO Jeff Holman stated: “Management has recognized and is grateful for both the national attention that HCMC has received over the past several months, and for the very vocal support of its shareholder base, which is now over 306,000 shareholders strong. This has provided the Company with the perfect opportunity for a re-launch of HCMC’s TheVitaminStore.com, as well as an opportunity to offer our Ada’s brand of high-quality vitamins and supplements to a national audience. Our shareholders have repeatedly expressed their desire to support their investment in HCMC directly by also becoming customers. With our sizable shareholder base as potential new, highly motivated and incentivized customers, we are extremely encouraged by the growth potential from this online store. Unlike a stock market investment in a high-ticket item based company, such as a car company, collectively, our shareholders have the power to make a real difference with the power of their individual purchasing habits. This is a rare opportunity for shareholders to work hand in hand with management to build a national brand while increasing shareholder value through increased Company revenue.”
https://twitter.com/GREEKSTOCKGURU/status/1381779443157508103
https://twitter.com/TheFlyingScotto/status/1381027330164932616
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Healthier Choices Management Corp. (OTCMKTS: HCMC) is heating up in recent trading with large 6- and 7-digit buys coming in and Thursday’s volume topping $29 million in dollar volume on 2.4 billion shares traded. HCMC has emerged in recent months as an investors favorite and is currently among the most actively searched and talked about stocks in small caps with well over 300,000 shareholders of record. Currently under heavy accumulation HCMC is looking to blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension – Tesoro went to multi dollars – a break over $0.0065 and its blue skies ahead. Helping liquidity is HCMC management team who successfully eliminated 90% of the convertible debt on the books some time ago. CEO Jeff Holman said at the time: “We believe that this trade, which has saved HCMC and its shareholders approximately $29M of potential dilution, will lead to the re-creation of shareholder value.” The big story on HCMC is its patent infringement lawsuit against billion-dollar conglomerate Philip Morris USA, Inc. and Philip Morris Products S.A. A settlement or licensing deal could drive HCMC into a whole new stratosphere with no limit to how high HCMC could go. The patent infringement lawsuit against Philip Morris USA, Inc. is moving forward and gaining steam. Representing HCMC is Cozen O’Connor ranked among the top 100 law firms in the country and employing more than 775 attorneys in 29 cities across two continents. The firm’s diverse client list includes global Fortune 500 companies, middle-market firms poised for growth, high-profile individuals and HCMC who must have a seriously solid case against PMI with outstanding chances. HCMC is already a revenue powerhouse doing over $1 million per month in sales in 2020; on March 5 HCMC announced financial results for the fourth quarter and fiscal year ended December 31, 2020. In Q4 the Company delivered improvement in adjusted EBITDA for fiscal year 2020. Net sales from continued operations for the year ended December 31, 2020 amounted to $13.9 million, compared to $15.1 million during the same period last year. Microcapdaily first reported on HCMC on January 27 as the stock was moving up in the triple zeroes. We will be updating on HCMC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HCMC.
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Disclosure: we hold no position in HCMC either long or short and we have not been compensated for this article.
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Creatd, Inc. (OTCMKTS: CRTD) Stock Price Continues to Deteriorate as the Legal Battle with The Lind Partners, LLC Continues
Published
5 days agoon
March 20, 2023
Creatd, Inc. (OTCMKTS: CRTD) share value continues to drop after a brief recovery in mid-March. The firm’s stock is still not at the lowest point it has ever been, but it is not too far off at this point. The lowest that the shares have gone was $0.0457, which is the point they reached on October 11th, 2022. After that, in the final months of the previous year, the stock price shot up, reaching $1.6941 per share on November 18th.
The last time when the shares reached this height was in February 2022. However, back then, the price was rapidly spiraling down from a much higher point. Unfortunately for the company and its investors, after reaching $1.6941 in November, the share price crashed in a sharp correction, sinking to $0.50 by the end of November.
CRTD found a strong support at this level, which allowed it to bounce back up to $0.90, which is where the company encountered a strong resistance. It kept bouncing back and forth between these two levels throughout December 2022 and January 2023. However, as time passed, the fluctuations were becoming smaller, as the price seemingly started achieving greater stability. Looking back now, however, it becomes clear that the volatility may have decreased, but the overall trend became bearish somewhere in mid-January.
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CRTD price was dropping again, and in the second half of February, it broke the support level at $0.50, sinking to $0.16 by February 27th. After briefly recovering in early March, the price went back up to $0.3, encountering a resistance here, as well, which pushed it back down to $0.1156 this time, which was on March 14th. In the last 48 hours, the price managed to recover a bit once more, sitting at $0.15 at the time of writing.
Creatd, Inc. (OTCMKTS: CRTD) stock has seen a rough performance over the last year, with only a brief period of recovery in November 2022. Other than that, the last 12 months were marked by nothing but price crashes triggered by various events that followed the company. In recent months — specifically in December — the company announced an upcoming merge with Global Tech Industries, albeit without disclosing the terms of the deal. After that, reports said that Global Tech Industries had decided to bid $100 million in stock in order to acquire Creatd. Creatd even halted any discussions with other potential acquirers for 30 days as part of the LOI. At the time, its CEO and Chairman, Jeremy Frommer, said:
There are two elements to this merger, fundamental and technical. The opportunity to advance the Creatd business model and scale revenues coupled with the unique technical position we find our two public companies in, is a momentous opportunity. At the time of closing of any proposed transaction, GTII share delivery to Creatd shareholders will only occur in instances of registered ownership with the transfer agent or DTC.
For a time, everything was going well for the company until February 24th, when reports emerged that Creatd had terminated the proposed acquisition discussions with Global Tech. This was what triggered the stock crash, as many were disappointed that the deal did not succeed.
Around that time, the company was also struggling with a potential illegal naked short selling, and it launched CEOBLOC to try and fight it. One positive development at the time was the fact that CRTD became available on Upstream, which marked the third issuer to dual-list their shares on Upstream’s blockchain-powered market.
https://twitter.com/UpstreamXchange/status/1625520006770618368
However, the stock was hit with another blow a week ago when Creatd released an update regarding its legal dispute with The Lind Partners, LLC, and the company’s affiliates. The dispute concerns a convertible promissory note that amounts to $900,000.
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According to Lind, Creatd breached certain representations and warranties in regard to the note. Lind demanded immediate repayment of the full amount, but Creatd instead decided to offer a number of alternatives. Lind refused to negotiate and Creatd filed a motion to dismiss. The company’s CEO said:
At this early stage, we are strictly trying to analyze data. There is more than enough evidence that there has been unusual trading in CRTD and it demands further investigation. To that end, we have asked legal counsel to look into filing multiple requests of trading records from market makers in CRTD stock. When and if the Company enters the discovery period in The Lind Partners, LLC case, any trading records related to The Lind Partners, LLC that were done with external broker dealers will also be analyzed.
Creatd, Inc. (OTCMKTS: CRTD) is a holding company that offers new economic opportunities to creators using partnerships and technology. The company’s goal is to empower creators and brands, and it claims that each of its companies shares a common mission — to create technologies and develop partnerships that would allow it to unlock new opportunities useful to entrepreneurs, brands, and creators, allowing them to also grow creatively, sustainably, as well as profitably.
For the moment, it appears that the situation is not the best for the company. It is in the middle of legal proceedings, its merger has failed, and its stock is one bad day away from reaching its all-time low. The chart above shows that CRTD is willing to grow and ready to jump on any opportunity, so the company still has a chance. Any piece of good news would likely send its stock to the path of recovery, which is why it is still worth keeping an eye on future developments. We will be updating on CRTD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CRTD.
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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.
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Global Developments Holdings, Inc (OTCMKTS: GDVM) Share Starts Recovery After a Second Big Drop in Three Months
Published
1 week agoon
March 15, 2023
Global Developments Holdings Inc (OTCMKTS: GDVM) share has been on a steady rise for the past six and a half months. The company’s performance in 2023 shows that the share was growing, then it saw a sudden surge, only to crash back down. However, the company’s 6M chart clearly indicates that the share has been rising steadily, and both rapid surges followed by sudden crashes — one in November/December 2022 and another in February 2023 — were only brief pumps. The stock’s performance overall still indicates that GDVM is seeing a strong, steady rise, which was not affected by these instances of strong volatility.
The GDVM price was fairly stable for the first eight months of 2022, slightly fluctuating around $0.0040. However, at the end of August 2022, the price started to grow. The growth was steady, healthy, and the price kept going up, almost completely uninterrupted until November 3rd. At the time, it reached $0.0527, but after reaching this level, it saw a slight correction to a support at $0.040. After only about a week at this level, a rapid surge took it all the way up to $0.1109. The surge started around November 16th, and it reached its peak by December 6th.
After that, a rapid correction made the price crash back down to $0.056 later on the same day. After an attempt at recovery, the price dropped again on December 14th, this time sinking to $0.038. From there on, the price managed to return back to its steady growth, which actually lasted until late January 2023. At the time, it reached $0.066, when another surge took place, starting on January 27th.
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In the following month, the price climbed up to $0.1359, reaching this height on February 23rd, which was once again followed by a rapid crash back to $0.0726. What followed was a few weeks of stability, which led the price to finally grow back up again, to $0.0862, on March 9th. This was followed by another mild correction to $0.769, which is where the GDVM price sits right now at the time of writing.
Global Developments Holdings, Inc (OTCMKTS: GDVM) price behavior has been quite significant over the last six months. However, it is also worth noting that most of these developments — the beginning of the six-month steady growth, as well as rapid price surges in between — took place when some major developments for the company happened. For example, the price started climbing up in August after reports that it reduced OS by 525 million, with rumors that significant moves are being made behind the scenes. At the time, it was rumored that the company was planning a reverse merger, which is exactly what it was doing, as it was discovered later on.
Following that, reports in November emerged, noting that the reverse merger is heating up, especially as the new CEO was affected by massive share reduction. The merger was with a company VeeMost, and by early December 2022, it achieved its 4th advanced specialization. At the time, reports were also praising GDVM as its stock price continued to skyrocket. The stock has been under heavy accumulation from the moment Mr. Melvin Ejiogu, an executive who also acts as President of VeeMost Technologies, became the controlling shareholder. He said:
$GDVM majority control acquired and all outstanding debt purchased. I also purchased 12% of outstanding shares and returned them to the treasury. No dilution will occur. I’ll be sharing updates soon with everyone on our new journey.
His new dilution policy affected a massive share reduction, as mentioned, and trapped the market makers, who were seriously short. The reverse merger stocks have proven that they can be much more explosive than biotechs, assuming that the incoming company has real value. By mid-February, Global Developments became the highest overall rated company in the Shell Companies industry. It had an overall score of 66 while and an average score of 43. This means that, on average, the stock in this industry tends to score higher than 43% of the stock market. However, according to Ejiogu’s tweet published on February 17th, he was working on getting the shell status removed from GDVM.
$GDVM – We are pleased to announce that we have been approved as a vendor by a global telecommunications provider, and we are working to get the shell status removed from $GDVM. Further updates coming.
— Melvin Ejiogu (@MelvinEjiogu) February 17, 2023
Global Developments Holdings, Inc (OTCMKTS: GDVM) is a company that provides expert consulting for businesses. It is a principal investment firm that specializes in acquisitions and early-stage financing of emerging growth companies. It describes its service as fast and reliable, and it can help whether its clients need help with finances, advice on theoretical matters, or assistance with practical tasks.
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It has a highly-qualified team that is happy to assist with any needs in both private and commercial spheres. The company is based in Delaware, and it was incorporated on December 9th, 2004, as Autobahn International, Inc. However, in 2016, it rebranded to Global Developments Inc and then once more to Global Developments Holdings, Inc, on September 20th, 2018.
For the time being, the company’s stock is still growing steadily after starting to increase in August of last year. The past price surges, followed by sharp corrections, are fairly normal behavior. Prices tend to surge after beneficial developments, and a sharp rise is always followed by a sharp correction. The positive thing is that the price continues to increase after the correction is over, and the chart above clearly shows that the company continues to thrive under the new leadership. We will be updating on GDVM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GDVM.
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Disclosure: We have no position in GDVM and have not been compensated for this article.
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Asia Broadband, Inc (OTCMKTS: AABB) Stock Price Surges as the Firm Takes a Stance Against Market Maker Manipulation Practices
Published
2 weeks agoon
March 13, 2023
Asia Broadband, Inc. (OTCMKTS: AABB) saw its stock price surge by over 10% in the last 24 hours following its decision to pursue market manipulation legal action against some major market makers. The firm’s stock price surged from $0.0290 to the current $0.0334, which was also the closing price on Thursday, March 9th. Before this, the firm’s price has had several spikes up over the last six months, although each of them was too sharp to last, and they were always followed by just as strong corrections. The last big example came around February 21st, with January 31st before that and January 17th before that.
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The situation was slightly different in late 2022 when Asia Broadband saw a strong price surge around November 23rd, which led it to the high point of $0.0559 by December 6th. The following correction took the price back down to an average level of $0.033, with the price fluctuating around it until early February 2023. After that, the price sank to the support at $0.030, and it just broke it in the early days of March, going down to $0.028 before surging back up over the last two days.
Over the past six months or so, each of the strong price reactions that AABB has displayed took place roughly around the same time as some important events for the company. For example, in December 2022, the company launched the GoldenBaboons.com website in preparation for the launch of its Gold-Backed NFT Baboons collection, which went live in January. The collection Golden Baboons Mining Club (GBMC) was the first NFT collection that AABB has created and published. Furthermore, it is backed by gold, like the company’s AABBG token.
Another time the price had reacted was in January of this year, right after the reports of Asia Broadband completing a plant site purchase to process gold and silver ore. The firm announced the purchase of the new processing facility, and an evaluation report has estimated the stockpile to represent more than $800 million in gold and silver. Reports at the time have called the stockpile processing project the largest high-yield asset addition for the firm to date, and it was considered a part of its strategic expansion initiative, meant to help the Company acquire gold production and increase AABB’s physical gold holdings. Then, only about a week after that, new reports said that Asia Broadband is continuing its strategic expansion of its Central America cryptocurrency operations hub in El Salvador — specifically, in its Bitcoin City.
$AABB – Asia Broadband Confirms #Gold-Backed Baboons #NFT Collection Release Date With Expanded Marketing Programhttps://t.co/ycd2uP6ZQx pic.twitter.com/AG3c2OGtle
— Asia Broadband, Inc. (@AsiaBroadband) January 25, 2023
Finally, in mid-February, the company announced a registration deadline to purchase its gold-backed Baboons NFT collection during the NFT mint event. The deadline was February 22nd, and the minting took place after that, on February 28th. As for this latest AABB price surge, it came around the time when another new report emerged, stating that Asia Broadband pursues market manipulation legal action against major market makers for AABB shares on OTC Markets.
The legal initiative has actually progressed for months, as the company noted that many shareholders and public firms received expressing that the AABB share price was subjected to long-term repression by deceptive and false trading practices. Furthermore, other OTC Market issuers were already publicly exposed and legally challenged due to their market maker manipulation practices. Apart from that, Asia Broadband is also pursuing legal action against a number of parties for multiple defamatory internet posts.
The Company experienced similar defamation attacks several years ago, and the situation was resolved to the firm’s advantage, with the posts permanently removed. The company’s CEO and AABB President, Chris Torres, said:
We have an obligation to our shareholders to do everything in our power to protect their investments in our Company’s shares. Our share price is not reflecting the true value attributed to the Company’s successes in recent years due to deceitful and profiteering market manipulation.
While the name, Asia Broadband, Inc. (OTCMKTS: AABB), suggests that this is a telecommunications firm, AABB is actually a mining stock. Operating as a resource company with a special focus on the production, supply, and sale of precious and base metals, Asia Broadband primarily sells to Asian markets.
The firm uses specific geographic expertise, coupled with extensive industry contacts and a long and rich experience to facilitate innovative distribution processes from the production and supply of base and precious metals in Mexico to its clients, which can be found all over Asia. With that said, the company’s most prominent move as of late has been an attempt to develop a gold-backed cryptocurrency token and a gold-backed NFT collection mentioned earlier. The token itself is known as AABBG, and it was backed by $30 million in gold holdings as of 2021 when it was originally released.
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Despite the relatively poor stock price performance, Asia Broadband, Inc (OTCMKTS: AABB) is a mining firm that has great potential for the future. Its involvement with crypto assets and the fact that it supplies Asian clients both work in its favor. Asia is emerging as one of the leading regions in terms of technology and digital assets. With the company operating in the West on behalf of the East, it is in a perfect position to grow. Furthermore, if allegations of defamation and market manipulations from its lawsuit turn out to be true, that would explain the difficulties in AABB’s performance that the company has been facing, which could allow its stock to start growing once these negative aspects get removed. We will be updating on AABB when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with AABB.
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Uncategorized4 months ago
Meta Materials Inc (OTCMKTS: MMTLP) Enormous Short Position in Trouble as Next Bridge Hydrocarbons Set to Stop Trading (George Palikaras & John Brda on Corporate Action)
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Micro Cap Insider2 years ago
Medium (KOK PLAY) The Parabolic Rise of Metal Arts (OTCMKTS: MTRT)
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Media & Technology2 years ago
AMECA Mining RM; the Rise of Southcorp Capital, Inc. (OTCMKTS: STHC)
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Media & Technology2 years ago
SNPW (Sun Pacific Holding Corp) Power Brewing: 50MW solar farm project in Durango Mexico MOU with Atlas Medrecycler 48,000 SF New Partnership Queensland Australia Solar Farm.
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BioPharma1 year ago
Asia Broadband (OTCMKTS: AABB) On the Move Northbound Since Sub $0.08 Dip as Crypto Innovator Elevates AABB Crypto Exchange & Enters the NFT Space
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Uncategorized4 months ago
Meta Materials Inc (OTCMKTS: MMTLP) Short Squeeze S-1a4 Filing Signals S1 Approval Could Be Days Away (Next Bridge Hydrocarbons Spin-Off)
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BioPharma1 year ago
Humbl Inc (OTCMKTS: HMBL) Major Reversal as Powerful Advisor Rejoins the Team & Looks to Uplist to Major Exchange
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Uncategorized5 months ago
Meta Materials Inc (OTCMKTS: MMTLP) Short Squeeze Electrifies as S1 Privatization Filing Imminent (Next Bridge Hydrocarbons Spin-Off)