iQSTEL Inc 8-K, filed Feb 23, 2022
iQSTEL Inc (IQST)
About this 8-K
iQSTEL Inc filed this 8-K on February 23, 2022, reporting on events of February 3, 2022.
Items reported
- Item 2.02: Financial results
- Item 9.01: Financial statements and exhibits
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
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(Commission File Number) | (I.R.S. Employer Identification No.) |
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| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code:
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________________________________________________ (Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None.
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
SECTION 2 – Financial Information
| Item 2.02 | Results of Operations and Financial Condition. |
We have issued a shareholder letters concerning our revenue results for January 2021, our anticipated revenue results for 2022, our plans to list on Nasdaq, and other matters.
The shareholder letters are furnished with this Current Report on Form 8-K as Exhibits 99.1-99.4. The information furnished under this Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibits 99.1-99.4, shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any registration statement or other filing under the Securities Act of 1933, as amended, regardless of any general incorporation by reference language in such filing, except as shall be expressly set forth by specific reference in any such filing.
SECTION 9 – Financial Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit No. | Description |
| 99.1 | Shareholder letter, dated February 3, 2022 |
| 99.2 | Shareholder letter, dated February 10, 2022 |
| 99.3 | Shareholder letter, dated February 15, 2022 |
| 99.4 | Shareholder letter, dated February 17, 2022 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
iQSTEL Inc.
/s/ Leandro Iglesias
Leandro Iglesias
Chief Executive Officer
Date February 23, 2022
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IQST – iQSTEL Announces 42% Revenue Growth In January Reaching $6.7 Million For The Month
New York, NY, Feb. 03, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) has entered 2022 with its sights on growing from $64 million in revenue, which the company anticipates formally reporting in its upcoming annual audited financial report for 2021, to a forecasted $90 million in 2022. The company is also pursuing an uplisting to Nasdaq within the first six months of 2022. In conjunction with the company’s growth and uplisting objectives, iQSTEL CEO Leandro Iglesias is publishing an ongoing series of updates narrating the company’s progress toward its growth and uplist objectives. The CEO’s latest letter to shareholders is included in its entirety below:
Dear Shareholders:
The first month of 2022 is now behind us bringing iQSTEL one month closer to our target Nasdaq uplisting. We continue on track toward our uplisting objective and this week I am pleased to feature our ongoing operational performance as an indicator of our preparedness for a Nasdaq uplisting.
We achieved an estimated $6.7 million in revenue in January, which is a 42% increase over the $4.8 million in revenue we realized in January 2021.
In January, iQSTEL also received The Smart Appliance Product of the Year Award from IoT Breakthrough for its IoTSmartTank device.
January also saw iQSTEL reach a notable milestone as it formally entered the electric vehicle (EV) market place with its first EVs rolling off the production line.
These three substantial milestones in the first month of the year - double digit revenue growth, a technology award, and EV market entry - are strong positive indicators of what lies ahead for iQSTEL in 2022 and, I believe, representative of iQSTEL’s Nasdaq worthy caliber.
In my last letter, I reported that iQSTEL has been actively exploring an engagement with an investment bank to sponsor our uplisting to Nasdaq and to assist in the execution of our merger and acquisition campaign. I am now happy to announce that the iQSTEL Independent Board of Directors (BOD) has authorized management to engage with such an investment bank.
Here at iQSTEL, the management team and BOD continue in our confidence that the prevailing market conditions are not an impediment to the company’s 2022 objectives. We feel our January operational performance demonstrates that the prevailing market conditions are not standing in our way. We remain confident that the market will digest inflationary concerns and other post Covid economic impacts and otherwise see and reflect the enormous market expansion opportunities we see so clearly. We likewise remain optimistic in the potential of iQSTEL’s share price to organically rise to the Nasdaq minimum listing requirement.
Sincerely,
Leandro Iglesias
CEO
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.
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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. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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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IQST – iQSTEL Confirms $90 Million 2022 Revenue Forecast And Nasdaq Uplisting Initiative
New York, NY, Feb. 10, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) continues into the second month of 2022 on track toward its $90 million annual revenue target and Nasdaq uplisting in spite of the prevailing inflationary news and market volatility. In conjunction with the company’s growth and uplisting objectives, iQSTEL CEO Leandro Iglesias continues in his regular publication of periodic updates narrating the company’s progress. The CEO’s latest letter to shareholders is included in its entirety below:
Dear Shareholders:
My update today is brief. The primary purpose of my update is to reassure shareholders that iQSTEL remains well on track toward our 2022 forecasted $90 million revenue target as well as remaining on track to uplist to Nasdaq in the first six months of this year.
News about inflation and market volatility is flooding the media channels. In spite of the market news, iQSTEL has not altered any of its 2022 plans and no hurdle has arisen altering our path.
While iQSTEL’s share price is not immune from the prevailing market volatility, we remain confident market conditions will improve and likewise optimistic in the potential of iQSTEL’s share price to organically rise to the Nasdaq minimum listing requirement.
Sincerely,
Leandro
Iglesias
CEO
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. This press release does not constitute a public offer of any securities for sale.Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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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IQST – iQSTEL Technology Portfolio Builds On $1.2 Trillion Market
New York, NY, Feb. 15, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) has built and rapidly expanded a business by being a leader in providing technology enabled services to the global migrant market with an estimated population of over 280 million.
iQSTEL expects to report $64 million in revenue for 2021 generated primarily from providing telecommunication services for the global migrant market. The company has forecasted $90 million in annual revenue for 2022 as it expands its services beyond telecommunications to include financial services and electric vehicle transportation among other vital services in short supply to the global migrant market.
iQSTEL is in the process of uplisting to Nasdaq. The company has achieved the required shareholder equity necessary to list on Nasdaq in addition to securing a strategic investment to fund the company’s growth objectives over the next three years.
In reaction to the company’s upcoming audited financial report and continued progress toward its intended Nasdaq uplisting, management is optimistic the iQSTEL price-per-share will organically increase to reach the Nasdaq minimum listing price.
In conjunction with the company’s growth and uplisting objectives, iQSTEL CEO Leandro Iglesias publishes regular updates narrating the company’s progress. He plans to release his next update in a letter to shareholders this Thursday, February 17th. In the next update he intends to feature iQSTEL’s business expansion potential by highlighting the market potential for iQSTEL’s technology enable services. Migrant remittances, a market iQSTEL includes in its technology enable service expansion, is currently estimated at over $700 billion annually and expected to exceed $1.2 trillion annually by 2030.
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. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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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IQST – iQSTEL Expansion Potential In Light Of Michael Burry Electric Motorcycle Investment And $1.2 Trillion Market Entry
New York, NY, Feb. 17, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) today released a letter to shareholders from CEO Leandro Iglesias. The letter is one in a series of regular updates from the CEO as the company progresses toward its Nasdaq uplisting objective. The letter is included in its entirety below.
Dear Shareholders:
While overall market performance continues to reflect a degree of uncertainty in reaction to the evolving pandemic, Ukraine tensions, and anticipated interest rate hikes, iQSTEL’s improving future is otherwise becoming more predictable as we continue our advance toward a Nasdaq uplisting.
I believe our upcoming audited financial report for 2021 will further confirm our prospects. Accordingly, I am confident that confirmation will be reflected in the iQSTEL share price. As I have said before, I remain optimistic, the iQSTEL share price has the potential to increase organically to meet the Nasdaq minimum listing price.
While we have already published that we expect to report $64 million in revenue in our audited financial report for 2021, and that our shareholder equity in the 2021 report will meet the Nasdaq minimum listing requirement, I don’t believe those figures are yet reflected in the company’s share price.
I believe the upcoming publication of our 2021 audited financial report will confirm our revenue growth and shareholder equity to the market at large beyond our current shareholder following and trigger the opportunity for our share price to align with our fundamentals and prospects.
We have also reported an estimated $6.7 million in revenue for January of 2022. This is a 42% increase over the $4.8 million in revenue we realized in January 2021. We anticipate similar performance this month and in March. When we publish our Q1 results, I believe the credibility of our 2022 $90 million forecast will also be confirmed with the market at large beyond our current shareholder following further enhancing the opportunity for our share price to align with our fundamentals and prospects.
I believe the attention we garner from our fundamental performance will bring greater attention to our overall growth strategy to build on our current telecommunication services business by introducing new and higher margin technology enable offerings to our existing market.
For instance, iQSTEL has introduced a new and growing line of financial services to the migrant client base it currently serves with telecommunication services. Migrant remittances are currently estimated at over $700 billion annually and expected to exceed $1.2 trillion annually by 2030.
iQSTEL has developed an electric vehicle (EV) division and developed its first product with its current client base in mind. iQSTEL has produced and shipped EV motorcycles at a manageable price point for its target market. To balance quality and price, iQSTEL brought their EV design to China and partnered with a local manufacturer.
Harley Davidson recently separated its electric motorcycle division merging it into a SPAC with a Taiwanese motorcycle manufacturer. Prior to the SPAC deal, Harley Davidson had not brought an electric motorcycle to market at a price point that could establish market traction. Now with the Taiwanese manufacturing component, the electric motorcycle SPAC has attracted investment from “The Big Short” Investor Michael Burry.
I believe Harley Davidson’s SPAC move and Michael Burry’s investment reflects well on iQSTEL’s EV strategy.
iQSTEL’s exceptional fundamental financial performance soon to be confirmed in the 2021 audited financial report followed by our Q1 2022 report, I believe, will bring attention to our expanding financial services and EV division, and our overall collective growth potential.
I am optimistic the overall market will digest the current uncertainties and that in turn, the overall market performance will again reflect the unbridled global economic growth prospects that we here at iQSTEL have never lost sight of. I am even more optimistic that iQSTEL’s leadership potential in pursuit of that unbridled global economic growth opportunity will be recognized by the market at large in light of our historical performance and the soundness of our expansion plans.
Sincerely,
Leandro
Iglesias
CEO
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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. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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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