IQST - iQSTEL Reports 149% Revenue Growth To $44.9 M In 2020 With Plans For Continued Growth And Nasdaq Up-Listing In 2021
April 16 2021 - 9:14AM
InvestorsHub NewsWire
IQST – iQSTEL Reports 149%
Revenue Growth To $44.9 Million In 2020 Audited Financial Report
With Plans For Continued Growth And Nasdaq Up-Listing In
2021
New York, NY -- April 16, 2021 --
InvestorsHub NewsWire -- iQSTEL, Inc. (USOTC:
IQST) today released a letter to shareholders from CEO Leandro
Jose Iglesias summarizing the highlights of the Annual Report for
FY-2020 with Audited Financials published on Form 10k yesterday,
April 15, 2021. The letter to shareholders also includes a review
of Q1 2021 performance and highlights anticipated to be published
in the upcoming 10Q. Mr. Iglesias goes on to outline
management plans for the company in Q2 and the balance of
2021. The letter to shareholders is included in its entirety
below:
SHAREHOLDER
LETTER
April 16th,
2021
Dear Shareholders,
We would like to thank everybody for
their communications with the company, reflecting their support and
encouragement of iQSTEL’s continuous business plan
growth.
It´s important to remark that
FY-2020 was an amazing year for iQSTEL, setting the foundation for
future growth.
Over the course of FY-2020, and Q1
FY-2021, we established 4 business divisions:
- Telecommunications: SMS, VoIP, 5G
International Connectivity, Ommichannel presence
- Technology: Internet of Things
devices and platforms (IoTSmartGas, IoTSmartTank, IoTSmartEV), and
our Batteries for Electric Vehicle industry
(iQBatteriesEV)
- Fintech: Visa Debit Card and our
remittances services (VisaMoneyOne.com)
- Blockchain: Our Blockchain Platforms
Developer with our Mobile Number Portability Application (MNPA) and
our Settlement & Payment Marketplace (SPM)
This wide portfolio of products
makes us a “one stop shop” for Telecom & Technology Services.
Even though our services are spread across 7 subsidiaries (Etelix,
SwissLink, QGlobal, SMSDirectos, IoT Labs, Global Money One, and
itsBchain), we are organized to offer our customers one unified,
singular and valuable customer experience.
We have initiated a move to
consolidate our Telecom Division under one brand name, IQSTelecom,
to optimize our marketing and at the same time, make our
back-office operations more efficient thus increasing our
EBITA.
Toward the end of FY-2020, we
implemented a plan to eliminate debt. As of Q1 FY-2021, we are a
Debt Free Company, with no convertible notes, warrants or
settlements. This major milestone frees us to invest all available
funds from our operations and Reg A offering into further
strengthening our balance sheet and growing the company. Therefore,
we expect to see improvement in our consolidated Statement of
Operations and Balance Sheet throughout FY-2021.
All these activities summarized
herein, to include the implementation of a wider portfolio of
products, and the elimination of debt, put us well on track to
achieve our up-listing objective. Look for additional news
coming soon announcing the next and final steps leading to our
up-listing.
As we improve operational
efficiencies in FY-2021, management intends, at the same time, to
accelerate our ongoing M&A campaign to expand functional and
geographic reach and add additional revenue that may contribute to
our potentially exceeding the FY-2021 $60.5 Million revenue
forecast.
FY-2020, 10-K
Summary:
- The audit
of the Consolidated Financial Statements for FY-2020 was
successfully completed, and the Audited Consolidated Financial
Statements are available to the public in the 10-K published April
15, 2021.
- Even
though the year 2020 was marked by the COVID-19 pandemic, with the
closure of companies and countries completely paralyzed, iQSTEL was
able to advance in the development of its business plan, reaching a
$44.9 Million
Audited Revenue for FY-2020, vs. $18.0 Million for FY-2018,
representing an increase of 149%.
- We reduced the Loss
Per Share to $(0.10) in FY-2020 versus $(0.35) in FY-2019,
a significant reduction of 70%.
- The
company increased its assets to $5.9 Million in FY-2020, vs. $5.6
Million in FY-2019, basically driven by the increase in the cash
position.
- We reduced the liabilities
to $8.3 Million in FY-2020, from $11.3
Million in FY-2019.
- Overall, sales have increased by 149% in this FY, reducing the loss per share by
70% with an increase in
Current Assets of 1.04%. This was
accomplished while reducing the Current
Liabilities by 29% year-over-year, and Total Liabilities by
27%.
FY-2021, Q1 Anticipated Achievements
To Be Published In The 10Q By May
14th.
- The
elimination of all the convertible notes, warrants, and settlements
making iQSTEL a debt-free company.
This will save around $3 million in debt service the Company
will alternatively be able to invest in strengthening the
balance sheet and growing the company.
- A
strengthened balance sheet with increased assets and reduced
liabilities.
- Revenue
progress on track toward our $60.5 Million annual revenue
forecast.
- The
consolidation of all telecommunication operations under one brand,
IQSTelecom.
- The
memorialized recognition of our IoT breakthrough award for our
IoTSmartGas technology.
FY-2021, Q2 Plans:
- The
commercial launch of the MNPA Blockchain platform in
April.
- The first
stage field test of the IoTSmartTank in
April.
- The first
production of our IoTSmartTank technology for a Fortune 500
Chemical Client by May/June.
- The Launch
of our Fintech, Visa Debit Card product, VisaMoneyOne by
June.
- The first
financial results from the implementation of operational
efficiencies.
- The
execution of our next planned step to up-list by
April/May.
- The first
progress from our M&A campaign.
- Continued
revenue progress on track toward our $60.5 Million revenue
objective.
- New and
improved communication channels with our Shareholders and Ambassadors, increased
social media presence, and an enhanced
website with a new “Meet
Us” feature.
We genuinely appreciate and respect
our shareholders and supporters. Please be sure to join our
Ambassador Program for direct contact with our other
“Long-Standing” shareholders and supporters. As well, feel free to
email or call us for direct communications with our top-notch
Investor Relations Team, all found on our
website.
Respectfully
yours,
Leandro Jose
Iglesias
iQSTEL Inc.
(www.iqstel.com)
President &
CEO
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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