New York, NY -- July 14, 2021 -- InvestorsHub
NewsWire -- iQSTEL, Inc. (OTCQB:
IQST) today announced plans to increase the price per share of
the remaining shares available on the company’s Reg A offering
targeting a price from $0.50 to $2.00 per share. The CEO,
Leandro Jose Iglesias, today released a letter to shareholders
reviewing the company’s progress over the first six months of 2021
and plans for the second half of 2021 in conjunction with an
overview of the company’s plans to increase the PPS on the
remaining Reg A offering. The CEO letter to shareholders is
included in its entirety below:
Dear
Shareholders,
I would like to begin this
letter with a summary of all that we have accomplished in the first
six months of 2021. I think you will find the sheer length of
the list impressive, let alone the magnitude of each
accomplishment. We all here at iQSTEL share a passion for
execution, or you might just say, we like to get stuff
done. I contend that our passion for execution is at
the root of what sets us apart from our
competitors.
Products and
Services Introduced So Far This
Year:
- Technology (IoT)
Division: On January 11th, we announced
that our IoTSmartGas (Internet of Things) had won the 2021 edition
of the IoT Breakthrough Award as the “Smart Appliance Product of
the Year.” Thanks to this recognition, we joined the ranks
of other globally
recognized industry leaders including Apple, Amazon and General
Electric, among many other very well recognized
companies. https://iotbreakthrough.com/2021-winners/.
- Electric Vehicle (EV)
Division: On January 28th, we announced
we would be developing a battery solution for the electric vehicle
industry, and on February 2nd, we entered into an
agreement with ALYI/Modus/Revolttoken to develop a proprietary
battery solution for their Revolt Electric Motorcycle Ecosystem
Project.
- Technology (IoT)
Division: On February 11th, we reached
an agreement with a global chemical industry leader (a Fortune 500
company) to develop for them an IoT (Internet of Things) device we
called “IoTSmartTank” with a first test order of 2,500 devices to
be installed in one of their EEUU facilities. On April
26th, we announced the first phase of field test
results. This is a milestone contract making our Technology
Division profitable thanks to the recurring revenue from the first
order alone.
- Telecom
Division: On March 1st, we announced
our new brand for our Telecommunication Division - www.iqstelecom.com, and since then
we have been working on increasing the synergies among all our
telecom operations to reduce costs and improve productivity.
At the same time, we continue to work our existing business plan
where we have forecasted $60.5 Million of revenue for the current
FY.
- Blockchain
Division: On March 3rd, we announced
that our Mobile Number Portability Application (MNPA) would be
commercially launched by April 2021, but due the Covid-19 crisis in
India, we were slightly delayed, and we finally launched in May. On
June 8th, we introduced the MNPA promotional
video https://www.youtube.com/watch?v=OyHE6pv9QQ0.
We estimate this product will bring up to $25 Million in revenue
per year, 30%-40% Ebitda, by capturing just 5% of the $530 Million
in revenues per year that come from the overall global mobile
number portability market.
- Fintech
Division: On March 8th, we announced
our plan to launch our Visa/Mastercard debit card ecosystem by June
2021. This business will open an opportunity to develop $128
Million in revenue over the next 5 years with an EBITDA between
30%-40%. On May 27th we announced that we would
introduce the Cryptocurrency Exchange Services in our VIMO
(VisaMoneyOne) and MAXMO (MasterCardMoneyOne) Ecosystem Products,
and on June 30th we announced the launching of our MAXMO
fintech ecosystem. Our mobile fintech services that include
MasterCard Debit Card, US Bank Account, Mobile App/Wallet, Crypto
Services, Remittances, and Mobile Top Up, are all now deployed in a
test phase.
- Electric Vehicle (EV)
Division: On June 17th, we created the
Electric Vehicle (EV) business division to have a more dedicated
approach for the EV industry as a One-Stop-Shop for Batteries,
Chargers, Software Management, IoT Connectivity, Mobile App, and
Dashboard Displays. On July 7th, we announced our plans
to launch the EVOSS Electric Motorcycle in Latin America to provide
a complete Electric Motorcycle solution to include consumer
purchase financing from our MAXMO fintech
ecosystem.
Corporate and
Capital Structure Improvements
YTD:
- Debt Free
Company: On January 12th, we announced
the elimination of all convertible debt and warrants exchanging
them for Standard Commercial Promissory Notes. On January
14th, we announced a 48% debt reduction of over $1.5
Million. On February 17th, we became an entirely
debt free company, eliminating all convertible notes,
promissory notes, warrants, and settlement
agreements.
- Management Long Term
Commitment: On January 15th, the
Management Team announced (8K Filed) the conversion of 21 Million
common shares into Series B Preferred shares demonstrating their
long term commitment to the Company and its business plan. By means
of this transaction, the number of outstanding common shares were
reduced by 21 million shares, making room for the common shares
offered in the Reg A offering earlier this year and mitigating the
overall potential for dilution resulting from the Reg A
offering.
- Investment Bank
Support: On March 11th, we initiated a
series of conversations with Investment Banks to explore
partnerships that could support our intended plans to up-list to
Nasdaq. The response from potential Investment Banking
partners has been overall positive.
- M&A
Campaign: On March 25th, we announced
the beginning of what would be our second Merger &
Acquisition Campaign (M&A Campaign). The first campaign
resulted in the successful acquisitions of Swisslink, IoT Labs,
QGlobal SMS and ItsBchain. At this time, we are working on a
shortlist of potentials acquisition
targets.
- Up-Listing
Path: On June 15th, we announced the
OTCQB certification, an important milestone in our overall
Up-listing Path. On June 28th, we announced the
addition of three new independent members to our Board of Directors
bringing our Board to a total of five members. The expansion of our
Board with three new independent members is an important step that
brings us closer to realizing our up-listing
objective.
Investor Relations
and Social Media Presence
Enhancements:
- Website
www.iqstel.com:
In addition to keeping our website updated, we added a new
“Meet Us” section where you can see our Global Presence -
specifically the details of our Offices in each of the countries
where we have a presence to include all the ways you can “Meet Us”
- by Phone, By Social Media, By Email, and By Face to Face
Meeting. On the “Meet Us” section, you can also see Some of
Our Faces.
- Social Media
Presence: The company has presence in several
social media platforms to include Twitter, Facebook, Instagram, and
LinkedIn. For details visit the www.iqstel.com “Meet Us” section
and select the Social Media Button.
- Frequent Business and
Corporate News: We issue press releases almost on
a weekly basis to keep our more than 18,900 shareholders updated
about our business and corporate
performance.
What Our
Shareholders Can Expect From Us In The Second Half Of The
Year:
- The same passion for
execution, but getting even better: From a
business perspective, we will keep developing new products and
services through our 5 Business Divisions, and building revenue and
positive EBITDA streams in each to make the overall company
stronger, better, more productive, more competitive and more
efficient. Our goal is not only to reach our revenue forecast of
$60.5 Million, but to surpass it.
- Keep advancing the
company toward our Nasdaq Up-Listing objective: We
will continue to strengthen corporate governance and improve our
Operations and Balance Sheet to better position the company for an
up-list to Nasdaq.
- Keep improving our
Financial Statements: We will maintain our current
trend with minimizing Commercial Debts, increasing the value of our
Stockholder Equity, reducing operating expenses as a percentage of
revenue, and increasing our EBITDA.
- M&A
Campaign: We are currently evaluating three
potential acquisition targets. All of them have revenue, EBITDA and
are Net Income positive. We are still in the due diligence process,
but we feel confident that we could show concrete results in the
second part of this Fiscal Year.
- News upcoming
soon: We are going to keep all our shareholders
informed about new products as well as developments with our
IoTSmartTank for the Chemical Industry, the MAXMO Fintech Ecosystem
Launch initiative, our IQSTelecom brand consolidation and our
M&A Campaign. We continue working on all the initiatives and
products announced in our corporate video https://www.youtube.com/watch?v=_X4inDXQZxs&t=40s.
- New Electric Vehicle (EV)
and Fintech Business Division news: In this
second half of the year, we plan to launch the VIMO Fintech
Ecosystem (VisaMoneyOne) to complement our MAXMO fintech ecosystem.
Regarding the Electric Vehicle (EV) Division (EVOSS), we will keep
working closely with ALYI/MODUS/Revolttoken on the Revolt Electric
Motorcycle Ecosystem for EEUU and Africa. At the same time, we plan
to deliver the first EVOSS proprietary motorcycles for Latin
America at the end of 2021.
Reg A Offering Price
Increase Update:
As you may recall, we have
been using our Reg-A offering as the foundation of our funding
strategy since December 10th, 2019 - more than 18
months.
Our last SEC qualification
was on Jan 14th, 2021, where we were approved to issue up to
80,000,000 common shares. So far now, we have sold 59,800,000
common shares. Our last sale was on March 25th, 2021 -
almost four months ago. 20,200,000 common shares remain of the
original 80,000,000.
In conjunction with the
increase in our stock price since our last qualification, we are
filling a Post Offering Statement (POS) where we are requesting the
SEC to allow us to set a new price for the remaining 20,200,000
shares. We plan to request a price range between $0.50 to $2.00 per
share.
We do not have an urgent
need to sell our remaining Reg-A shares at this time. Accordingly,
we want to take advantage of this time to have the Reg-A qualified
by the SEC with price range that we believe better reflects the
current value of our company.
This price increase would
allow us to raise between $10 Million to $40 Million to invest in
the ongoing growth of our business operations and the overall value
of the company, in addition to reinforcing our stockholder equity
position in preparation for a Nasdaq
up-listing.
Final
Message:
We are more than an
amazing company. We are five amazing companies all rolled into
one: IQSTelecom (Telecom), EVoss (Electric
Vehicles), Global Money One (Fintech), IoTLabs (Technology), and
ItsBchain (Blockchain).
Sometimes, we receive
questions asking us to explain our strategy. The answer is on our
website www.iqstel.com in the “About Us”
section:
“iQSTEL
combines our Telecommunications Division business, our high-value
customer involvement, and over 100 years of combined technology
experience into a dynamically growing
company. iQSTEL is developing our businesses with high-margin
and EBITDA contributions in areas such as Electric Vehicles EV,
Technology (IoT), Fintech, and Blockchain. Thanks to this approach,
iQSTEL will be one of the leaders as a One-Stop-Shop for high-tech
services with a global
presence”.
We are proud of all we have
achieved so far, but more than this, we are excited and committed
with all the things we plan to achieve in our company this Fiscal
Year and next.
Reading the messages on the
social media boards, and reading all the emails that we receive, we
know that the majority of our 18,900 shareholders, believe in our
company, believe in our business vision, and trust in our
passion for execution – and we are grateful. Your
enthusiastic support is energizing for us, and motivates us to be
and do better every day making the company better and more valuable
and altogether, more incredible.
Respectfully
yours,
Leandro Jose Iglesias
iQSTEL Inc. (www.iqstel.com)
President & CEO
iQSTEL Inc
(OTCQB: IQST)
(www.iQSTEL.com)
is a US-based publicly-listed company with an Independent
Board of Directors offering leading-edge
Telecommunication, Technology and Fintech Services for Global
Markets, with presence in 15 countries. The company provides
services to the Telecommunications, Electric Vehicle
(EV), Financial Services, Chemical and Liquid Fuel
Distribution Industries. iQSTEL has 5 Business Divisions: Telecom,
Electric Vehicle (EV), Fintech, Technology and
Blockchain, with worldwide B2B and B2C customer relations operating
through its subsidiaries: Etelix, SwissLink, QGlobal SMS,
SMSDirectos, Global Money One, IoT Labs and itsBchain.
The Company has an extensive portfolio of products and services for
its clients: SMS, VoIP, international fiber-optic connectivity for
5G, Cloud-PBX, OmniChannel Marketing, EV Batteries, EV Chargers, EV
Battery Management System, EV IoT Connectivity, Mobile App For EV
Connectivity, EV Dashboard Display, Visa/Mastercard Debit
Card, Cryptocurrency Exchange Services, Money Remittance,
Mobile Top Up, IoT Smart Gas Platform, IoT Smart Tank
Platform, Mobile Number Portability Application MNPA (Blockchain
Platform) and Settlement & Payments Marketplace SPM (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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