Asia Broadband Inc. (OTC: AABB) reported record second-quarter production revenue of approximately $14.9 million, exceeding the company’s total production revenue for all of 2025. Management has projected approximately $30 million in production revenue for the full year 2026.

The company highlighted operational momentum across its mining operations, exploration programs, and digital asset ecosystem as it enters the fall season. Key developments include significant progress in drilling at its Picachos IV property and the completion of a definitive agreement for the La Calabasa stockpile.

Production and Exploration Progress

AABB’s core precious metals operations showed accelerating growth, with Q2 results setting a new benchmark against prior annual performance. The company is actively advancing its exploration initiatives to support future production capacity.

At the Picachos IV property, the company completed 38 drill holes totaling approximately 3,800 meters under its Phase 2 exploration program. This represents roughly 25% of the planned 15,000-meter initiative. Drilling targets five near-mine areas to define mineralized structures and test zone continuity.

Finalized assay results from the company’s in-house laboratory returned high-grade gold intersections. One drill hole intersected 9.04 grams per tonne gold over 16.0 meters, including 12.32 grams per tonne gold over 8.0 meters. Management stated this supports the continuity of the high-grade shoot within the modeled mineralized zone.

The integration of AI-assisted exploration technology has accelerated geological evaluation and drill-targeting processes. The technology analyzes geological, drilling, assay, and structural data to refine targets and identify prospective high-grade zones.

La Calabasa Stockpile Agreement

AABB completed a definitive long-term processing and production agreement for the La Calabasa gold and silver ore stockpile. All previously identified matters regarding property boundaries and title verification have been resolved.

The agreement grants the company exclusive rights to purchase and process ore from the stockpile at an economically viable price point. The estimated gold and silver ore value associated with La Calabasa is expected to exceed $1 billion, surpassing the estimated value of the company’s original Las Jimenez stockpile agreement.

Capital Allocation and Digital Assets

The company’s previously authorized $12 million share repurchase program has advanced substantially. As of June 30, 2026, approximately $11.8 million had been deployed toward common share repurchases, representing more than 98% of the total authorized program. Discussions are ongoing to possibly expand the program.

In its digital asset segment, AABB is transitioning the GoldAxis Wallet to new technology and service infrastructure. The company is evaluating providers for an off-ramp component that would allow users to convert supported digital assets into fiat currency. This includes the AABBG gold-backed token and AABBS silver-backed token.

What the Numbers Show

The disparity between the Q2 production revenue of $14.9 million and the full-year 2026 guidance of $30 million implies that management anticipates a moderation in quarterly run rates or seasonal variability in the remaining three quarters of the fiscal year. Despite the record Q2 performance, the annual projection suggests that sustaining the current quarter’s pace throughout the year is not the baseline expectation, highlighting the importance of the La Calabasa stockpile integration for achieving the full-year target.

Asia Broadband Inc. (OTC: AABB) has advised all GoldAxis Wallet users to transfer their digital assets to independent self-custody wallets. The company announced the transition to a new service provider on August 28, 2026, citing operational reliability concerns.

The move follows a comprehensive review of the current wallet technology infrastructure. Management identified several operational and reliability problems over recent months. Additionally, the development of Phase 2 of the GoldAxis Wallet encountered delays that exceeded company expectations. These issues raised concerns regarding timelines and execution quality, prompting the decision to switch providers to ensure future platform reliability.

Migration Instructions

Users are strongly recommended to transfer assets as soon as possible. The company provided specific guidance for different asset types:

• Algorand Blockchain Assets: Users holding AABBG, AABBS, and ALGO should consider creating an independent Algorand-compatible self-custody wallet, such as Pera Wallet.
• Bitcoin and Ethereum: Users holding BTC, ETH, and other compatible cryptocurrencies can use proven multi-asset self-custody wallets like Exodus or other compatible options.

Before transferring, users must ensure the destination wallet is compatible with their specific digital assets and blockchain. The company recommends making a small test transfer to verify successful receipt before moving the remaining balance.

Security Warnings

Asia Broadband emphasized that GoldAxis, Asia Broadband, and their representatives will never ask for seed phrases, recovery phrases, private keys, PINs, or passwords. Users are warned against providing these credentials to anyone claiming to assist with migration. The company clarified that third-party wallet applications like Pera Wallet and Exodus are independent of Asia Broadband. Users remain solely responsible for choosing and safely operating any third-party self-custody wallet.

Chris Torres, President and CEO of Asia Broadband, stated that the transition was inevitable because additional standards for infrastructure, operation, and service could not be provided in a timely manner. He noted that continued delays in Phase 2 development further necessitated the move to a new service provider.

What the Numbers Show

The operational disruption is significant enough to warrant a complete user exodus from the proprietary wallet. The recommendation for all users to migrate to external, unaffiliated platforms indicates a total loss of custody control for the company during this interim period. This shift exposes users to self-custody risks while highlighting the severity of the internal technical failures described by management.

Next Steps

The company has begun evaluating candidates for the new technology and service provider. Selection criteria include cybersecurity, infrastructure reliability, system availability, incident response procedures, technical support, operational transparency, and defined service-level standards. Asia Broadband plans to provide further details on the new infrastructure, user migration process, and future availability as the transition progresses. Users are advised to rely only on official Asia Broadband and GoldAxis communication channels for updates.