IQST
iQSTEL IncSubstantial doubt about the company's ability to continue as a going concern.
“These conditions, including our recurring losses from operations, negative working capital, and negative operating cash flows, raise substantial doubt about the Company’s ability to continue as a going concern.”View the 10-Q filed May 20, 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.”
Weekly off-exchange (dark pool / OTC) trading volume reported to FINRA under its OTC/ATS Transparency data. ATS volume is executed on alternating trading systems (dark pools); non-ATS OTC is other over-the-counter dealer volume. The off-exchange share is total off-exchange volume as a percentage of consolidated weekly trading volume for the same Monday–Friday week.
Off-Exchange Volume History
| Week Start | ATS Volume | Non-ATS OTC Volume | Total Off-Exchange | % of FINRA Weekly Volume |
|---|---|---|---|---|
| 2026-05-04 | 180,754 | 482,568 | 663,322 | 59.1% |
| 2026-04-27 | 172,147 | 959,943 | 1,132,090 | 56.0% |
| 2026-04-20 | 707,823 | 3,560,048 | 4,267,871 | 50.3% |
| 2026-04-13 | 46,716 | 560,403 | 607,119 | 59.8% |
| 2026-04-06 | 201,129 | 2,696,170 | 2,897,299 | 54.8% |
| 2026-03-30 | 4,579 | 111,796 | 116,375 | 67.7% |
| 2026-03-23 | 10,304 | 129,788 | 140,092 | 58.7% |
| 2026-03-16 | 9,673 | 95,523 | 105,196 | 39.3% |
| 2026-03-09 | 27,174 | 311,493 | 338,667 | 56.5% |
| 2026-03-02 | 7,332 | 180,334 | 187,666 | 68.0% |
| 2026-02-23 | 11,246 | 179,313 | 190,559 | 66.1% |
| 2026-02-16 | 20,361 | 182,632 | 202,993 | 63.4% |
| 2026-02-09 | 13,583 | 123,541 | 137,124 | 52.9% |
| 2026-02-02 | 37,759 | 418,709 | 456,468 | 58.7% |
| 2026-01-26 | 17,855 | 203,459 | 221,314 | 63.9% |
| 2026-01-19 | 21,319 | 140,174 | 161,493 | 62.5% |
| 2026-01-12 | 48,665 | 341,536 | 390,201 | 59.3% |
| 2026-01-05 | 22,652 | 201,355 | 224,007 | 57.8% |
| 2025-12-29 | 34,874 | 369,861 | 404,735 | 60.6% |
| 2025-12-22 | 32,744 | 141,727 | 174,471 | 58.2% |
| 2025-12-15 | 28,663 | 239,471 | 268,134 | 49.7% |
| 2025-12-08 | 34,677 | 133,875 | 168,552 | 48.2% |
| 2025-12-01 | 12,919 | 134,639 | 147,558 | 47.6% |
| 2025-11-24 | 7,086 | 85,599 | 92,685 | 51.8% |
| 2025-11-17 | 18,536 | 205,485 | 224,021 | 56.1% |
| 2025-11-10 | 28,206 | 251,236 | 279,442 | 52.9% |
| 2025-11-03 | 40,420 | 312,114 | 352,534 | 56.0% |
| 2025-10-27 | 21,781 | 203,645 | 225,426 | 59.1% |
| 2025-10-20 | 31,262 | 273,960 | 305,222 | 57.9% |
| 2025-10-13 | 25,828 | 173,135 | 198,963 | 52.2% |
| 2025-10-06 | 40,756 | 265,657 | 306,413 | 55.0% |
| 2025-09-29 | 58,690 | 515,768 | 574,458 | 56.5% |
| 2025-09-22 | 19,881 | 211,889 | 231,770 | 47.4% |
| 2025-09-15 | 19,883 | 181,359 | 201,242 | 48.0% |
| 2025-09-08 | 18,001 | 153,005 | 171,006 | 58.0% |
| 2025-09-01 | 16,914 | 107,356 | 124,270 | 52.6% |
| 2025-08-25 | 32,975 | 213,577 | 246,552 | 53.9% |
| 2025-08-18 | 27,907 | 139,891 | 167,798 | 42.6% |
| 2025-08-11 | 31,561 | 263,247 | 294,808 | 53.0% |
| 2025-08-04 | 21,464 | 208,862 | 230,326 | 54.9% |
| 2025-07-28 | 18,098 | 180,256 | 198,354 | 53.3% |
| 2025-07-21 | 32,870 | 351,450 | 384,320 | 53.1% |
| 2025-07-14 | 26,368 | 326,005 | 352,373 | 52.5% |