IQST - iQSTEL Announces M&A Campaign With Potential To Push Revenue Over $60.5 Million Forecast
March 25 2021 - 9:48AM
InvestorsHub NewsWire
New York, NY -- March 25, 2021 --
InvestorsHub NewsWire -- iQSTEL, Inc. (USOTC:
IQST), an international provider of Telecom,
Technology, Fintech and Blockchain solutions, today confirmed an
ongoing merger and acquisition (M&A) campaign. The
company further confirmed that the current $60.5 million revenue
forecast for 2021 does not include any contribution from potential
acquisitions. The M&A campaign may result in iQSTEL
exceeding the current forecast.
The iQSTEL confirms its revenue forecast
for 2021 is $60.5 million. In addition to the dramatic
revenue growth, Management anticipates improved profit margins as
iQSTEL consolidates its Telecom subsidiaries under a single brand
name to improve marketing momentum and operating
efficiencies.
Having recently eliminated all debt, and
with a growing cash reserve anticipated to exceed $2 million by the
end of Q1, iQSTEL management considers the company in a strong
position to proceed with its M&A
campaign.
Within the current M&A outlook for
iQSTEL, based on existing target acquisitions, management
anticipates potential increasing the FY-2021 forecast by the end of
Q2.
With a solid and improving balance sheet,
growing revenues and improving margins, management remains
confident in its previously announced NASDAQ uplisting
objective.
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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