IQST - Iqstel Inc
OTC Market: OTCQX U.S.
iQSTEL Inc. (OTC: IQST) is a wholesale carrier that offers voice, SMS, and data services to other businesses that operate within the telecoms sector. It provides international long-distance voice services, capacity for submarine fibre optic network internet (4G and 5G), voice-over-Internet-Protocol (VoIP), short message service (SMS), proprietary Internet of Things (IoT), and international fibre-optic connectivity services for telecommunications companies. In addition, the firm sells electric bicycles and offers banking services to consumers in other countries. Furthermore, it has an app that makes changing one's domestic telephone number easier. Their customers include wholesale carriers, government agencies, businesses, enterprises, and SMEs from Europe, Latin America, and the Americas. In August 2018, the firm officially transitioned from operating under PureSnax International, Inc. to iQSTEL Inc. Since its founding in 2011, iQSTEL Inc. has called the city of Coral Gables in Florida its headquarters
The preliminary projections indicate that sales for October 2022 amounted to $9.4 million. There was an increase from the previous amount of $5.1 in October 2021 to this new one of $8.2 this month. Monday saw the financial report submission for the third quarter of the iQSTEL's fiscal year 2022. The company's quarterly sales growth to $21.94 million is a 33 per cent increase compared to the same period in 2021. As of September 30 2022, the revenue for the year to date has surpassed $65 million. In the third quarter of the fiscal year 2022, iQSTEL achieved one of its financial goals, as the company reported positive operational and consolidated income for the first time. iQSTEL has generated $74.4 million in sales YTD through October 2022, an increase from the $65 million in revenue reported YTD through September 30, 2022. The preliminary accounting indicates this increase. Because of this, the company is well on its way to meeting or exceeding its annual revenue prediction of $90 million for 2022. From the third quarter of 2021 to the third quarter of 2022, there was a 172% increase in stockholders' equity, which now stands at $9.2 million as of September 30. The fact that the stated stockholders' equity of the company is greater than the bare minimum required to gain entry to Nasdaq provides credence to the company's hopes of being upgraded to a more prestigious exchange.
US-based Publicly Listed Company
IQST operates in 19 countries, employs 70 people, and provides cutting-edge services across four distinct industry verticals; it is a publicly traded firm on a US stock exchange; its board of directors and audit committee are independent. With its subsidiaries, Etelix, SwissLink, Smartbiz, Whilst, IoT Labs, and QGlobal SMS, the Telecom Division (www.iqstelecom.com) provides VoIP, SMS, proprietary Internet of Things (IoT) solutions, and worldwide fibre-optic access. Global Money One (www.globalmoneyone.com) and Maximo (www.maxmo.vip) are two examples of companies in the financial technology sector. These companies provide services such as a MasterCard debit card, a US bank account (no SSN required), and a mobile app/wallet (remittances, mobile top-ups, and crypto purchases and sales). Global Money One, our financial technology company, helps immigrants keep in touch with loved ones back home while making it more straightforward to manage their finances. As part of the services provided by the BlockChain Platform Business Line, its chain (www.itsbchain.com) provides its own Mobile Number Portability Application (MNPA) to meet local demand. In the United States, Spain, Portugal, Panama, Colombia, and Venezuela, you may purchase an electric motorbike from the Electric Vehicle (EV) Business Line (www.evoss.net) for both works and play. EVOSS is also developing an electric mid-speed automobile to fill the household's need for a second vehicle.
Today, the financial report for the company's fiscal third quarter of 2022 has been submitted. The company's quarterly revenue reached $21.94 million, representing a year-over-year growth in sales of 33%. The company is on track to meet or exceed its annual revenue goal of $90 million for 2022, with sales of about $65 million through September 30, 2022. iQSTEL was able to accomplish one of its financial objectives for the fiscal year 2022 during the third quarter when the company earned positive operating and consolidated income. Increases in stockholder ownership of 172% from Q3 2021 to Q4 2021, to $9.2 million, were more than enough to meet Nasdaq's minimum listing criterion and provide greater credence to the company's plans to apply for an up-listing to Nasdaq. The company's plans to use for an up-listing to Nasdaq were given greater faith by these increases.
In the United States, Spain, Portugal, Panama, Colombia, and Venezuela, you may purchase an electric motorbike from the Electric Vehicle (EV) Business Line (www.evoss.net) for both works and play. EVOSS is also developing an electric mid-speed automobile to fill the household's need for a second vehicle. Disclaimer of Warranties: There may be "forward-looking statements" in this press release. Any statement expressing an intention, belief, expectation, strategy, projection, or other information pertaining to our actions, events, or situations is a forward-looking statement. Management has made some assumptions that it believes are necessary for these statements to reflect the present state of affairs and its outlook for the future. Future results cannot be guaranteed since these statements are based on several assumptions and are subject to several risks. Therefore, owing to various variables, actual outcomes and results may and are expected to vary considerably from what is indicated or anticipated in forward-looking statements. Forward-looking statements in this press release are made only as of the date hereof, and iQSTEL Inc. assumes no duty to issue any revisions to these statements to reflect events or circumstances after the date hereof. This announcement is not an offer to sell securities to the general public. Without registration or an exception from the Act's registration requirements, it is illegal to offer or sell securities in the United States.
- Yahoo Finance. IQST Company profile. Retrieved on 11/17/2022
- Yahoo Finance. iQSTEL Announces 83% Revenue Increase For October To $9.4M After Reporting First Profitable Quarter With 33% Revenue Increase To $21.94M. Retrieved on 11/16/2022
As of 11/28/2022 there were 157,630,497 shares of IQST stock outstanding.
As of 10/31/2022 short interest was 6,820 shares, which represents 1 day to cover.
Symbol change from PSNX to IQST on 8/30/2018.
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