IQST - iQSTEL Prepares For NASDAQ Up-Listing In 2022
07 December 2021 - 04:33AM
InvestorsHub NewsWire
New York, NY -- December 6, 2021 --
InvestorsHub NewsWire -- iQSTEL, Inc. (OTCQX:
IQST) today released a
letter to shareholders from the CEO, Leandro Jose
Iglesias. The letter is inculded in its entirety
below:
Dear
Shareholders:
This is the first in a
series of shareholder letters we plan to publish with the objective
of keeping everyone informed about all that the Management, the
Independent Board of Directors and the Independent Audit Committee
are performing as we transition into 2022.
In addition to addressing
all that we have going on in what might be considered a routine
state of affairs, we will also address the degree of uncertainty
recently introduced by the Covid-19 Omicron
Strain.
We will remain alert and
vigilant, but at this time, Omicron is having no impact on our
business. In the face of the potential ongoing impact from
Covid, iQSTEL’s services may be more valuable than ever given that
we are in the business of connectivity (IQSTelecom B2B
Business Division: Telecom, Internet of Things, Blockchain) and
mobility (EVOSS B2C Business Division: EV Motorcycles,
Fintech).
iQSTEL has shown continuous
financial performance improvements for some time now and we intend
to continue the trend with profitability as a priority. We
ended Q3 with only a $111k loss. We expect to surpass break-even in
the near future.
Our topline continues to
improve as well. We just announced a greater than 4% increase
to our 2021 revenue forecast raising it from $60.5 million to $63
million after reaching $58 million YTD for the end of
November.
The topline and bottom-line
growth improvements have both been achieved while the company has
also eliminated all convertible debt. The company has been
dilutive debt free since February of 2021 (10 months) without any
convertible notes, warrants or settlement agreements. At the
same time, the company has not issued Reg-A shares since March 2021
(9 months).
We are currently working on
the 2022 forecast. Our preliminary forecast for 2022, based on our
Telecom Business alone, is $80 million (including the pending
acquisition of Smartbiz, a net income positive
operation).
We intend to add to the $80
million Telecom Business forecast additional anticipated revenues
from our Internet of Things, Blockchain, EV Motorcycles, and
Fintech Ecosystem business lines. These revenues are expected
to make substantial contributions to our overall
profitability.
We also expect to add
anticipated contributions from our ongoing M&A campaign to our
overall 2022 forecasting exercise.
Following on our progression
from OTC Pink to OTCQB and OTCQX, we continue to make ongoing
progress upgrading our reporting and oversight to improve
transparency for shareholders, and in turn, improve shareholder
confidence. We were recently invited to the OTCQX Market
opening, an exciting event you can watch on our official Twitter
page.
In keeping with our upgraded
oversight, we currently conduct at least one meeting of our
independent Board of Directors (BOD) per month. Below is a
list of key BOD resolutions:
- The IQSTEL Independent Board
of Directors gave the mandate to the Management to initiate the
NASDAQ Up-listing process with the objective of achieving a listing
on NASDAQ in the first half of 2022.
- Implement a strategy to
capture shareholder value enhancements for the 21,000 iQSTEL
shareholders in conjunction with the NASDAQ up-listing
initiative.
- Management should proceed to
close open deals on our M&A Campaign to be included in the
up-listing milestone.
- Without losing focus on
current operational improvements and growth, management should
complete the product launching and start the revenue streams of our
new high margin business lines: Internet of Things, Blockchain, EV
Motorcycle, and Fintech Ecosystem.
- Management is authorized to
proceed in reaching an agreement with an Investment Bank and/or a
Family Office to sponsor the Up-Listing by bringing a long term
funding platform designed to enhance shareholder
value.
- Management is mandated to
make regular communications to our stockholders at least on a
monthly basis on the progress toward milestones and BOD
resolutions.
The IQSTEL Management
accepts the mandate given by our Independent Board of Directors and
is enthusiastic about proceeding.
Thanks to all shareholders
and investors for your continued support.
In representation of the
entire iQSTEL Management Team,
Leandro Jose
Iglesias
IQSTEL CEO & President
iQSTEL Inc. (OTCQX:
IQST)
(www.iQSTEL.com) is a US-based publicly-listed company holding an
Independent Board of Directors and Independent Audit Committee
offering leading-edge services through its two business divisions
and each of them with independent brands. The B2B division, Brand
IQSTelecom offering Telecommunications, Internet of Things,
Technology and Blockchain platforms services, the target market for
the B2B division is Global Markets. The B2C division, Brand EVOSS
offering EV Electric Motorcycles, Fintech Ecosystem, the target
market for this business division is Latin America, and the Spanish
speakers in the USA. The company has presence in 15 countries, and
its products and services are used in several industries as
Telecommunications, Electric Vehicle (EV), Financial Services,
Chemical and Liquid Fuel Distribution Industries. IQSTEL announced
on February 17th 2021 that it became a Debt Free Company and is now
completely debt free with no Convertible Notes, Warrants,
Promissory Notes or Settlement Agreements from its Balance
Sheet.
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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