IQST · iQSTEL Inc
Substantial doubt about the company's ability to continue as a going concern.
“These conditions, including our recurring losses from operations, and negative operating cash flows, raise substantial doubt about the Company's ability to continue as a going concern.”View the 10-Q filed Aug 18, 2026
20 customers — 85% of revenue (the three months ended March 31, 2026)
“During the three months ended March 31, 2026, we had 20 customers representing 85% of our revenue compared to 19 customers representing 86% of our revenue for the three months ended March 31, 2025.”
23 customers — 80% of receivables (March 31, 2026)
“As of March 31, 2026, approximately 80% of total accounts receivable was concentrated among the Company’s top 23 customers, compared with the same percentage concentrated among 17 customers as of December 31, 2025.”
12 customers — 58% of receivables (March 31, 2026)
“In each such period, 12 of these customers were repeat customers and accounted for 58% and 75% of total accounts receivable as of March 31, 2026 and December 31, 2025, respectively.”
One customer — 20.3% of receivables (March 31, 2026)
“The largest customer represented 20.33% of total accounts receivable as of March 31, 2026, compared with 15.06% as of December 31, 2025.”
Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.
Institutional Ownership Trend
Holder Concentration
Across 18 13F filers · Δ vs Mar 31, 2026Quarterly Activity
Top Buyers
vs Mar 31, 2026| Institution | Added | Now Holds | Open |
|---|---|---|---|
| Mid Tower Research Capital LLC (TRC) | +2,897 | 6,002 | |
| Large Federation des caisses Desjardins du Quebec | +2,000 | 3,879 | |
| Mega NORTHERN TRUST CORP | +415 | 10,616 |
Top Sellers
vs Mar 31, 2026| Institution | Sold | Now Holds | Open |
|---|---|---|---|
| Mega GEODE CAPITAL MANAGEMENT, LLC | −15,044 | 43,238 | |
| Mega UBS Group AG | −5,001 | 48,059 | |
| Mega STATE STREET CORP | −3 | 13,518 |
Top New Positions
vs Mar 31, 2026| Institution | Acquired | Value (USD) | Open |
|---|---|---|---|
| Mid Virtu Financial LLC | 48,377 | $56,117 | |
| Small StoneX Group Inc. | 14,911 | $17,296 | |
| Mega CITIGROUP INC | 21 | $24 |
Top Sold-Out Positions
vs Mar 31, 2026| Institution | Previously Held | Last Value (USD) | Open |
|---|---|---|---|
| Large HRT FINANCIAL LP | 12,055 | $19,167 |