IQST Reports Q1 182% Revenue Growth On Track To $60.5 Million Annual Revenue Forecast And Introduces New YouTube Channel
15 May 2021 - 12:59AM
InvestorsHub NewsWire
IQST – iQSTEL
Highlights Q1-FY2021 182% Revenue Growth On Track To $60.5 Million
Annual Revenue Forecast In Letter To
Shareholders
New York, NY -- May 14, 2021
-- InvestorsHub NewsWire -- iQSTEL, Inc. (USOTC:
IQST) today released a letter to shareholders in conjunction
with the publication of the company’s Q1-FY2021 financial
report. The letter includes an introduction of the company's
new YoutTube channel with videos detialing the company's
operations. The letter is included in its entirety
below:
We issue this shareholder
letter under the complicated economic environment resulting from
Covid-19, but nevertheless, with much
optimism.
The iQSTEL business plan is
going according to plan. Continuously improving operational
performance is reflected in continuously improving financial
performance.
Q1 has been an inflection
point for iQSTEL. As forecasted, we achieved our forecasted Debt
Free status (https://www.prnewswire.com/news-releases/iqst--iqstel-eliminates-all-debt-in-form-of-notes-becoming-debt-free-company-301230065.html).
The impact is dramatic to both our current and future Balance
Sheet, and the company’s Statements of
Operations.
The following are some of
the highlights found on our Balance Sheet this 10Q Q1-FY2021 vs
Q4-FY2020:
- Cash and Cash Equivalents
$3.032 Million vs $0.753 Million representing a 302%
increase.
- Total Assets: $8.168 Million
vs $5.951 Million representing a 37%
increase.
- Total Liabilities: $6.808
Million vs $8.346 Million representing more than an 18%
reduction.
- Total Stockholder´ Equity:
$1.359 Million vs ($2.395 Million) representing an increase of
$3.754 Million taking the company from a deficit to a
surplus.
The following are some of
the highlights found on our Statements of Operations this 10Q
Q1-FY2021 vs Q1-FY2020
- Revenues: $14.197 Million vs
$5.017 Million representing a 182%
increase.
- Net Loss: ($1.878 Million)
vs ($3.909 Million) representing a $2.031 Million positive
improvement.
- Dilution Loss per common
share: $0.01 vs $0.13 representing a 92%
improvement.
Of course, we still have
room to improve, and every day the management team keeps focusing
on increasing the company business value, reducing costs, reducing
expenses, increasing profit, and increasing revenues, all at the
same time.
With the company surpassing
the $13.9 Million estimated revenue forecast for Q1, to almost
reach $14.2 Million in definitive revenue for Q1, the management
team now confirms we are on track to accomplish our overall $60.5
Million revenue forecast this FY-2021.
While we concede room for
improvement as every operation has room for improvement, we
modestly contend that our Q1 financial results indicate we are on
the right track. The management team plans to close all gaps, no
matter how small, and work toward the objective of achieving a
consolidated break-even point for each of our Operating
Subsidiaries and in turn, iQSTEL overall.
Our current cash position is
allowing us to invest in all our operating subsidiaries, increasing
their working capital, improving their profits, and developing new
high margin products and services.
As previously announced, in
the coming Q2 we plan to launch:
- The Mobile Number
Portability Application MNPA (Blockchain Platform) - we are working
now on the marketing material, and the final adjustments to the
Mobile App.
- The development of the
IoTSmartTank for a Fortune 500 client.
- Our VisaDebitCard
(VisaMoneyOne) for the EEUU market.
All these products and
services have high potential revenue and margin, and are expected
to generate monthly revenue streams with high margins for the
company.
At the same time, this Q2 we
are working weekly with Modus/Alternet (ALYI)
on our IoTSmartEv and our IQBatteriesEV for the Revolt Electric
Motorcycles in accordance to the overall Revolt Ecosystem Plan for
2021.
In addition to working on
new products and new sources of revenues with high margins, we are
also working on our M&A Campaign for FY-2021. In
conjunction with our M&A efforts, we are working in a
partnership with a fiber-optic network provider for 5G, that can
serve more than 40 million direct and indirect customers as
previously announced (https://www.prnewswire.com/news-releases/iqst--iqstel-previews-network-carrier-partnership-that-could-accelerate-entry-into-700-billion-5g-market-301287506.html).
High on our priority list is
our intended Up-listing. We are working weekly on this goal and
will keep you informed every step in that direction. For more
detail information, please visit our website “home” section, and
look for the blue button labeled “Up-Listing
Path”.
It is our intention to be as
transparent as possible with our shareholders, clients, and
vendors.
Toward that end, we will
make every effort to keep our shareholders updated on a weekly
basis with the most up-to-date information. We believe maintaining
transparency as a priority is the best way to gain your confidence
about what we are doing, when, and how it might impact all of
us.
In a new effort to make our
transparency even better, the company recently created our
iQSTEL - IQST Official Channel
on YouTube (https://www.youtube.com/channel/UCsaklYVEBqfDVOnDjZVYNxw)
and produced a couple of initial videos: 1) Company Overview, 2)
Execution Plan 2021. The two videos explain our company, products
and services and our execution plan.
This YouTube official
channel, complements our overall Social Media presence. We want to
invite all our shareholders to visit our website www.iqstel.com. we keep it up-to
date. Please take special time to review our “home”, “investors”,
and “meet us” sections.
In the “meet us” section we
have intended to show all the ways you can communicate with the
company to include calling our office number, calling IR, visiting
our social media presence, sending an email, or even asking for a
phone call, video conference or a meeting face to
face.
On the website, you can find
out in which countries we have a presence, and/or an office. If you
want to meet us in one of our offices, please ask for a face to
face meeting to arrange it.
To further improve our
availability to shareholders, we plan to announce very soon our
IQSTEL Quick Video Talk initiative, where the management team is
going to answer questions from our ambassadors. We invite you to
become an ambassador in our “home” section on our Website.
Look for the red button.
Our company is getting
better every day. The management team is committed to executing on
the vision, and is working hard every day to keep improving the
company business value by continuously growing the business,
developing new high margin products and services, and keeping the
expenses and costs as low as possible, while at the same time,
improving our business relations with all our
customers.
Thanks to all our 19,000
shareholders, investors, partners, clients, and vendors for your
support in this enterprise.
Warm regards from everyone
on the iQSTEL management team.
About iQSTEL
Inc.:
iQSTEL Inc (OTC:
IQST) (www.iQSTEL.com) is a US-based
publicly-listed company offering leading-edge Telecommunication,
Technology and Fintech Services for Global Markets, with presence
in 13 countries. The company provides services to the
Telecommunications, Electric Vehicle (EV), Liquid Fuel
Distribution, Chemical and Financial Services Industries. iQSTEL
has 4 Business Divisions: Telecom, Technology, Fintech and
Blockchain, with worldwide B2B and B2C customer relations operating
through its subsidiaries: Etelix, SwissLink, QGlobal SMS,
SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company
has an extensive portfolio of products and services for its
clients: SMS, VoIP, 4G & 5G international infrastructure
connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric
Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas
Platform, IoT Smart Tank Platform, Visa Debit Card, Money
Remittance, Mobile Number Portability Application MNPA (Blockchain
Platform) and Settlement & Payments Marketplace (Blockchain
Platform).
Safe Harbor
Statement: Statements in this news release may be
"forward-looking statements". Forward-looking statements include,
but are not limited to, statements that express our intentions,
beliefs, expectations, strategies, predictions or any other
statements relating to our future activities or other future events
or conditions. These statements are based on current expectations,
estimates and projections about our business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and are likely to, differ materially from
what is expressed or forecasted in forward-looking statements due
to numerous factors. Any forward-looking statements speak only as
of the date of this news release and iQSTEL Inc. undertakes no
obligation to update any forward-looking statement to reflect
events or circumstances after the date of this news
release.
iQSTEL
Inc.
IR US Phone: 646-740-0907,
IR Email: investors@iqstel.com
Source: iQSTEL Inc. and its
subsidiaries: www.iqstel.com
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