iQSTEL Inc 8-K, filed Jul 19, 2023
iQSTEL Inc (IQST)
About this 8-K
iQSTEL Inc filed this 8-K on July 19, 2023, reporting on events of June 1, 2023.
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)
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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 shareholder letters concerning our revenue results, our anticipated revenue results for 2023, our plans to list on Nasdaq, potential acquisitions and other matters.
The shareholder letters are furnished with this Current Report on Form 8-K as Exhibits 99.1-99.3. The information furnished under this Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibits 99.1-99.3, 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 June 1, 2023 |
| 99.2 | Shareholder letter, dated June 7, 2023 |
| 99.3 | Shareholder letter, dated July 12, 2023 |
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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 July 19, 2023
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IQST - iQSTEL Increases Annual Revenue Forecast To $120M After Record Monthly Sales
NEW YORK, June 1, 2023 /PRNewswire/ -- iQSTEL Inc. (OTCQX: IQST) today announced increasing its annual revenue forecast from $105 million to $120 million after reaching a record high level of sales for one month in April and then breaking that record in May. The company surpassed $11 million in sales each month based on preliminary accounting. The company's year-to-date (YTD) revenue through May is $47 million, approximately 39% higher than the same period in 2022. iQSTEL achieved $93 million in revenue in FY-2022 and is on track to meet or surpass its new FY-2023 Revenue Forecast of $120 million which would represent a 29% increase over FY-2022.
CEO Leandro Iglesias said, "Our core enhanced telecommunications technology business is growing organically better than we expected and our initiative to expand on our core business with products and services that increase our margins is proceeding as anticipated and as demonstrated in our Q1-2023 financial report:
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10Q, Q1 FINANCIAL SUMMARY | |
| Concept | Amount |
| Revenue (US$) | 24,666,529 |
| Gross Margin (US$) | 1,216,736 |
| Operating Loss (US$) | -317,530 |
| Net Loss (US$) | -158,822 |
| Cash from Operations (US$) | 197,163 |
| Cash in Bank (US$) | 1,777,226 |
| Stockholders´ Equity (US$) | 6,329,660 |
Mr. Iglesias commented further: "iQSTEL is transitioning at this time from an early-stage company establishing the foundation for sustained high growth into a more mature operation that consistently produces the type of predictable results we are now seeing regularly. As we continue to deliver on predictable results, we build confidence for even longer-term performance predictions. Long-term performance confidence is the catalyst for share price appreciation. I am optimistic, even in the face of the prevailing market conditions, that our share price will soon better reflect our performance.
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About IQSTEL updated:
iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational public company preparing for a Nasdaq up-listing with an FY2023 $105 million revenue forecast. 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 Telecommunications 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 Division (Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Car.
- The Metaverse Division (information and content) includes an enriched and immersive white label proprietary 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.
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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
Contact Details
iQSTEL Inc.
+1 646-740-0907
investors@iqstel.com
Company Website
www.iqstel.com
View original content: https://www.prnewswire.com/news-releases/iqst--iqstel-increases-annual-revenue-forecast-to-120m-after-record-monthly-sales-301840483.html
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IQST - iQSTEL Consolidates Telecom Operations To Further Improve Earnings On $120M Annual Revenue Forecast
NEW YORK, June 7, 2023 /PRNewswire/ -- iQSTEL Inc. (OTCQX: IQST) today announced the company has initiated the consolidation of the telecommunication subsidiaries that make up the company's Telecom Division. The first consolidation step, the operational combination of Etelix and SwissLink, is alone anticipated to improve the bottom line by $500,000. The earnings improvements are expected to begin taking effect in Q3 this year. iQSTEL recently increased its FY 2023 revenue forecast from $105 million to $120 million.
"iQSTEL is becoming an ever more sustainable, high growth business with predictably improving financial performance," said CEO Leandro Iglesias. "The consolidation process of our enhanced telecommunication services will further boost earnings adding to our initiative to grow profits through the introduction of new high margin products and services."
The iQSTEL consolidation initiative is named SwissLink 2.0. The Etelix and SwissLink teams will be combined into one business organization.
Etelix´s voice services have already been moved to our SwissLink proprietary VAMP platform providing iQSTEL customers with an overall quality improvement form our Enhanced Voice Services.
The consolidation process has been designed to seamlessly improve the quality of services to the iQSTEL clients without any service interruptions or service agreement changes. Etelix customers will continue to receive service with no changes to their service agreements and they will now have access to a wider range of products.
The brand name for the consolidated operation will be SwissLink, and the SwissLink slogan will be "Specialized in Europa and Transatlantic International Telecom Services." SwissLink will be under the management of Juan Carlos Lopez CEO, Ralf Kohler COO, Helmut Stricker Sales Director.
iQSTEL plans to be recognized as a top 10 international wholesale telecom service provider.
About IQSTEL updated:
iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational public company preparing for a Nasdaq up-listing with an FY2023 $105 million revenue forecast. 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 Telecommunications 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 Division (Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Car. | |
| • | The Metaverse Division (information and content) includes an enriched and immersive white label proprietary 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: investors@iqstel.com
Contact Details
iQSTEL Inc.
+1 646-740-0907
investors@iqstel.com
Company Website
www.iqstel.com
View original content: https://www.prnewswire.com/news-releases/iqst--iqstel-consolidates-telecom-operations-to-further-improve-earnings-on-120m-annual-revenue-forecast-301845241.html
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IQST-iQSTEL Q2 Revenue Exceeds Expectations Increasing 32% Over Q1 To $32.5 Million
NEW YORK, July 12, 2023 /PRNewswire/ -- iQSTEL Inc. (OTCQX: IQST), today announced revenue for Q2-2023 exceeded expectations. Based on preliminary accounting, iQSTEL achieved $32.5 million in revenue in Q2 compared to $24.6 million in revenue for Q1, an increase of 32% quarter to quarter.
"We are on pace to exceed our $120 million annual revenue forecast," said CEO Leandro Iglesias." The company historically has higher revenue in the second half of the fiscal year than the first. iQSTEL launched in 2018 and achieved $13.78 million in revenue in that first year. We could exceed ten times that number this year. The company's organic growth is exceeding management's expectations, and we continue to develop substantial merger and acquisition opportunities. It is safe to say, 2023 will be iQSTEL's best year yet since our launch in 2018. On behalf of all management, we believe this will be a transformational year for the company."
About IQSTEL updated:
iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational public company preparing for a Nasdaq up-listing with an FY2023 $105 million revenue forecast. 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 Telecommunications 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 Division (Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Car.
- The Metaverse AI Division (information and content) includes an enriched and immersive white label proprietary 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: investors@iqstel.com
Contact Details
iQSTEL Inc.
+1 646-740-0907
investors@iqstel.com
Company Website
www.iqstel.com
View original content:https://www.prnewswire.com/news-releases/iqst-iqstel-q2-revenue-exceeds-expectations-increasing-32-over-q1-to-32-5-million-301875639.html
SOURCE iQSTEL Inc.
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