iQSTEL Inc. - 8-K - March 21, 2024

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549
____________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 21, 2024

iQSTEL Inc.
(Exact name of registrant as specified in its charter)

Nevada	000-55984	45-2808620
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

300 Aragon Avenue, Suite 375

Coral Gables, FL 33134

33134

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (954) 951-8191

________________________________________________

(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.

On March 21, 2024, and April 1, 2024, we issued press releases concerning our revenue results, our anticipated revenue results for 2024, and other matters.

The press releases are furnished with this Current Report on Form 8-K as Exhibits 99.1 and 99.2. The information furnished under this Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2, 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	Press Release, dated March 21, 2024
99.2	Press Release, dated April 1, 2024

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 April 2, 2024

IQST – iQSTEL Announces Record Breaking Revenue and Gross Margin Reaching $46M YTD Revenue Before End of Q1

NEW YORK, March 21, 2024 -- iQSTEL Inc. (OTC-QX: IQST) today announced the company’s YTD revenue through March 17^th surpassed $46 million based on preliminary accounting. $46 million is a new record high quarterly revenue with two weeks still left to go in the quarter. Q1-2024 will be the third straight consecutive revenue record breaking quarter in a row.

At the same time, the YTD gross margin has already exceeded the gross margin for the entire 4^th Qtr. of FY2023. iQSTEL previously announced that Q4-FY2023 gross margin was a record high exceeding the previous record set in Q3-FY2023. Even with 2 weeks still left in Q1-FY2024, the company’s gross margin record has been broken yet again now for a third consecutive quarter.

YTD revenue and gross margin do not include any benefit from the QXTEL acquisition agreement announced on January 22, 2024 and it does not reflect any contribution from the Pro Forma financial statement published in conjunction with the QXTEL acquisition on February 8, 2024.

iQSTEL management confirms April 1^st as the target date for closing the acquisition.

iQSTEL CEO Leandro Iglesias said, “We have been consistently breaking one record after another quarter after quarter since Q3 last year. This is an important milestone for IQSTEL because we announced profitability in Q3-FY2023. We are very optimistic this trend will continue for Q2 FY-2024 and beyond enhanced further by the pending acquisition closing of QXTEL.”

About IQSTEL:

iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $140 million revenue based on preliminary accounting. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic status, or identity. iQSTEL recognizes that in today's modern world, the pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access to ubiquitous communications, the freedom of virtual banking, clean affordable mobility and information and content. iQSTEL has 4 Business Divisions delivering accessibly to the necessary tools in today's pursuit of basic human needs: Telecommunications, Fintech, Electric Vehicles and Metaverse.

The Enhanced Telecommunications Services Division (Communications) includes VoIP, SMS, International Fiber-Optic, Proprietary Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain Platform.

The Fintech Division (Financial Freedom) includes remittances services, top up services, Master Card Debit Card, a US Bank Account (No SSN required), and a Mobile App.

The Electric Vehicles (EV) Division (Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Cars.

The Artificial Intelligence (AI)-Enhanced Metaverse Division (information and content) includes an enriched and immersive white label proprietary AI-Enhanced Metaverse platform to access products, services, content, entertainment, information, customer support, and more in a virtual 3D interface.

The company continues to grow and expand its suite of products and services both organically and through mergers and acquisitions. iQSTEL has completed 10 acquisitions since June 2018 and continues to develop an active pipeline of potential future acquisitions.

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 information 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 partly 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: [email protected]

Contact Details
iQSTEL Inc.
+1 646-740-0907
[email protected]

Company Website
www.iqstel.com

IQST – iQSTEL Announces 55% Annual Revenue Growth to Over $144 Million

NEW YORK, April 1, 2024 -- iQSTEL Inc. (OTC-QX: IQST) today announced publishing the company’s FY-2023 annual report of SEC Form 10K. The company achieved $144,502,351 in annual revenue and reported a positive net income for the last two quarters of the year. The FY-2023 revenue increased 55% over the revenue for the previous year. CEO Leandro Iglesias has published a letter to shareholders with highlights of the annual report. The letter to shareholders is included in its entirety below:

Dear Shareholders:

Today the company published its FY-2023 annual financial report on SEC Form 10k. I’m writing here to highlight some exceptional metrics from the report. You can see more details regarding the company’s financial performance in a graphical presentation at https://bit.ly/iqstel-3-24

The financial FY-2023 financial performance is entirely organic. The company did not execute any acquisitions in FY-2023.

FY-2023 vs FY-2022

	·	The company achieved exceptional revenue growth reaching $144.5 M in FY-2023, a 55% increase over FY-2022.
	·	Gross profit reached $4.7 M in FY-2023, a 161% increase over FY-2022.
	·	Total assets reached $22.2 M at December 31, 2023, a 77% increase over December 31, 2022.
	·	Stockholders equity reached $8.0 M at December 31, 2023, a 38% increase over December 31, 2022.

FY-2023 Quarterly Analysis

	·	Revenue reached $47.3 Million in Q4, nearly doubling Q1.
	·	Operating income reached a positive $184.0K, more than 1.5 times Q3.
	·	Positive operating income and net income achieved in last 2 consecutive quarters.

iQSTEL has achieved a key milestone by establishing a positive operating and net income trend now demonstrated for two consecutive quarters and this has notably been accomplished without the benefit of any acquisitions in FY-2023. We expect to sustain and increase this positive operating and net income trend throughout FY-2024.

With the imminent closing of the QXTel acquisition executed today April 1^st, 2024, our new goal for FY-2024 is to achieve $500,000 dollars per quarter in operating income.

On behalf of our Independent Board of Directors we want to thank our partners, customers, shareholders, investors, management and our employees for all the loyal support throughout our journey to become a one billion revenue company.

All the Best.

Leandro Iglesias