iQSTEL, Inc. Ends Dilution with a Refinance of Convertible Debt, Files 8-K Detailing Definitive Agreement with Note Holder
14 February 2020 - 11:18PM
InvestorsHub NewsWire
iQSTEL, Inc. Ends Dilution with a
Refinance of Convertible Debt, Files 8-K Detailing Definitive
Agreement with Note Holder
NEW YORK, NY -- February 14, 2020 -- InvestorsHub NewsWire --
iQSTEL Inc. (IQST)
is pleased to announce a definitive agreement signed with Labrys
Fund extending the terms of the previous promissory note thereby
stopping further conversions.
Entry into a material definitive agreement 8-K: https://www.otcmarkets.com/filing/html?id=13916162&guid=AHmCUpTtiuq7y3h
Mr. Iglesias, the Company’s CEO, stated: “As of February 13,
2020, the Company had matured and due obligations of $892,626 with
Labrys Fund. The terms of the original promissory note allowed for
conversions upon maturity. However, the Company has successfully
reached a refinancing agreement with Labrys Fund extending the
payments for about 16 months. As is typical with convertible
promissory notes, a pro-rated share reserve is being set up with
the transfer agent as a guarantee to the debt holder, further
detailed in the 8-K. This new agreement allows for existing cash
flow to meet the payment requirements so as to avoid further
dilution or the share reserve being used.”
“With our recent revenue generating SMS asset acquisition and
subsequent JV formation, QGlobal SMS, we look forward to 2020 being
a strong growth year across all our brands and wish to thank Labrys
Fund for working with us to secure this refinance,” continued Mr.
Iglesias, the Company’s CEO.
About iQSTEL Inc.:
iQSTEL (IQST) www.iQSTEL.com is
a technology company offering a wide array of services to the
Telecommunications Industry. These include services to
International Long-Distance Telecommunications Operators (ILD
Wholesale), Retail and Corporate markets (ILD Retail), Submarine
Fiber Optic Network capacity, Satellite Communications services,
Mobile Virtual Network Operator (MVNO) services, Internet of Things
(IoT) technology solutions, Data Center facilities capacity
leasing, and Blockchain solutions for the Telecommunications
industry.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is wholly
owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami,
Florida-based international telecom carrier founded in 2008 that
provides telecom and technology solutions worldwide, with
commercial presence in North America, Latin America and Europe.
Enabled by its 214-license granted by the Federal Communications
Commission (FCC), Etelix provides International Long-Distance voice
services for Telecommunications Operators (ILD Wholesale), and
Submarine Fiber Optic Network capacity for internet (4G and 5G).
Etelix was founded in 2008 and has been profitable since
inception.
About SwissLink Carrier AG:
SwissLink Carrier AG www.swisslink-carrier.com is
a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a
Switzerland based international Telecommunications Carrier founded
in 2015 providing international VoIP connectivity worldwide, with
commercial presence in Europe, CIS and Latin America. SwissLink
Carrier AG is a Swiss licensed Operator, having a domestic
Interconnect with Swisscom, allowing their international Carrier
Customers direct terminations via SwissLink into all Switzerland
Fix & Mobile Networks. Since the takeover from Swissphone in
November 2018 and the rename into SwissLink, they operate on a
profitable level.
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,
IREmail:investors@iqstel.com
Source: iQSTEL
Inc.
www.iqstel.com; www.swisslink-carrier.comand www.etelix.com
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