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Monday, December 5, 2022

Iqstel Inc (OTCMKTS: IQST) Steady Move Up as Co Raises Revenue Projections, Reports on Planned Up Listing & Readies for Coming Launch of its EVOSS Electric Motorcycles

Iqstel Inc (OTCMKTS: IQST) is moving steadily northbound since a brief dip below the $0.50 mark on growing volume trading over $5 million in dollar volume on Friday alone. The stock is currently under heavy accumulation as the Company moves towards its planned-up listing to NASDAQ as well as the upcoming launch of the EVOSS electric motorcycles in the USA, Latin American and the EU.  

The big story on IQST is the spectacular revenue growth this Company has seen since recently becoming completely debt free. IQST recently reported $58 million in sales as of November 30, 2021. The revenue for the month of November was $6.5 million. Management once again raised their forecast for FY-2021 to $63 million. CEO Leandro Iglesias recently stated: “We will finish 2021 in a very good position for continued rapid revenue growth and well on our way to meeting our net income positive $90 million revenue forecast for 2022.”  

iQSTEL Inc (OTCQX: IQST) is a US-based publicly-listed company offering Leading-edge Telecommunication and Technology Services for Global Markets as well as providing services to the Telecommunication, Electric Vehicle (EV), Financial Services, Chemical and Liquid Fuel Distribution Industries. iQSTEL has 5 Business Divisions: Telecom, Electric Vehicle (EV), Technology (IoT), Fintech and Blockchain, with worldwide B2B and B2C customer relations. IQST 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.  

Microcapdaily first reported on IQST on February 14, 2020 when the stock was $0.07, last month we also updated on the stock stating: “last week IQST reported the manufacturing of its EVOSS electric motorcycles is scheduled to begin next week. The electric motorcycles are slated for delivery to the USA, Latin American and the EU. The first electric motorcycles are expected to roll off the production line before the end of this FY. The first production run includes the EVOSS 250, 350 and 450 models equipped with 2, 3, and 4 Kw motors.  All models come with a 72 Volt, 50 AmpH battery. The Company’s vision is to become a major player in EV Motorcycle market within Latin America, and the EU over the next three years. 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.” 

 

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IQST has been making big moves; in November they signed an MOU to acquire a telecommunications company in the VoIP and SMS space. The target acquisition, Smartbiz Telecom LLC, has an estimated $15 million in annual revenue, with positive Net Income.  Subject to completing this acquisition, iQSTEL is setting an initial forecast of $75.5 million annual revenue in Telecom Business Line for FY 2022.  This initial Telecom forecast does not include an estimate of the additional sales anticipated from cross selling iQSTEL’s existing services into the Smartbiz Telecom, LLC customer base. 

The Company is a revenue powerhouse reporting $58 million in sales as of November 30, 2021. The revenue for the month of November was $6.5 million. Management now expects to exceed its $60.5 million revenue forecast for FY-2021 and is revising the forecast upward by approximately 4% to $63 million. 

CEO Leandro Iglesias stated on the coming NASDAQ up listing: “We have already announced that iQSTEL will exceed its $60.5 million 2021 revenue forecast.  Today, I’m happy to share that as of the writing of this letter, we have surpassed $64 million inching past our revised $63 million 2021 revenue forecast.  We will finish 2021 in a very good position for continued rapid revenue growth and well on our way to meeting our net income positive $90 million revenue forecast for 2022. In addition to our improved 2021 revenue, our EV motorcycles will be rolling off the production line any minute now.  We plan to publish videos of this exciting event within the next few days. In conjunction with the strategic financing initiative in excess of $50 million and approved by our independent Board of Directors (BOD) that has been disclosed in my previous communications, we expect to close on an initial $2.75 million before the clock strikes midnight on New Year’s Eve.  This financing milestone will bring iQSTEL’s 2021 financial statement into compliance with Nasdaq’s minimum stockholder equity requirement and help expedite our up listing in 2022. We remain confident we can achieve a Nasdaq up listing in the first half of 2022.” 

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IQST is making a powerful move northbound off its base at $0.50 in recent trading after the Company announced record Q3 revenues. Year to date the Company reported $46.84 Million compard to $29.44 for the same period last year. This year IQST revenues continue to rise; in Q1 the Company reported $14.19 Million in Q1, $16.12 Million in Q2, $16.51 Million in Q3. and expect to hit net income positive by next quarter. Having graduated from one OTC Markets marketplace to the next achieving an OTCQB certification and then an OTCQX certification and incorporating the required corporate governance to include an Independent Board of Directors and an Independent Audit Committee, the distance from here to a Nasdaq listing is not too far a reach. Also last week IQST reported the manufacturing of its EVOSS electric motorcycles is scheduled to begin next week. The electric motorcycles are slated for delivery to the USA, Latin American and the EU. The first electric motorcycles are expected to roll off the production line before the end of this FY. The first production run includes the EVOSS 250, 350 and 450 models equipped with 2, 3, and 4 Kw motors.  All models come with a 72 Volt, 50 AmpH battery. The Company’s vision is to become a major player in EV Motorcycle market within Latin America, and the EU over the next three years. 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. We will be updating on IQST when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with IQST.

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sclosure: we hold no position in IQST either long or short and we have not been compensated for this article.

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