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Friday, December 2, 2022

iQSTEL Inc (OTCQX: IQST) Heating Up as Co Rejects Formal Offer for EV Business (More on 5G LOI, Up Listing, Telecom Business Growth)

iiQSTEL Inc (OTCQX: IQST) is making a big move up in recent days since reversing off $0.36 lows. This week  the Company reported it has received a formal offer to purchase iQSTEL’s entire electric vehicle (EV) subsidiary.  The offer values iQSTEL’s EVOSS Electric Vehicle operation substantially higher than iQSTEL’s internal valuation.  The buyer is a US company that has filed an S-1 for an initial public offering (IPO) on Nasdaq. According to IQST management “The offer to acquire iQSTEL’s electric vehicle business independent of iQSTEL’s telecommunications business also demonstrates that it may be in the best interest of iQSTEL shareholders for the company to pursue separate Nasdaq listings for its telecommunications and electric vehicle businesses.  However, iQSTEL Management and the Board of Directors believe it would be best to pursue such independent Nasdaq listings directly and separate from any merger and acquisition in order to minimize any potential dilution to the iQSTEL shareholders and optimize the market valuation of each separate business.  Accordingly, iQSTEL Management and the Board of Directors has decided to decline the subject offer” 

IQST was one of the biggest runners of early 2021 skyrocketing from pennies to $2 per share before coming down and forming a new base at $0.50.  Microcapdaily reported on the rise of IQST from the very beginning featuring the stock in 2020 when it was 0.07 per share. We reported on IQST as the Company launched its EVOSS electric motorcycles and announced plans to up list to the NASDAQ. According to IQST CEO Leandro Iglesias: “the Company is well positioned to endure the prevailing market conditions and continue in the execution of our plan to achieve $90 million in revenue this year with positive net income.  We have adequate cash to avoid any fundraising until next year. We are continuing to prepare for a Nasdaq up-listing and will look for an opportunity to do so when market conditions can support an organic increase in iQSTEL’s share price to the Nasdaq minimum listing standard. 

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iQSTEL Inc (OTCQX: IQST) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries.  The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform). 

IQST Telecom business is the aircraft carrier in the iQSTEL fleet of mobile and connected solutions. The iQSTEL Telecom Division is on track to achieve the best year since its founding and all 6 of the Company’s Telecom subsidiaries (Etelix, SwissLink, QGlobal SMS, IoTLabs, Smartbiz and Whisl) are growing revenue, increasing gross profit, and contributing to an increasing net income, all while gaining higher and higher customer recognition. 

Earlier this month IQST entered into an LOI whereby, for the purposes of an intended acquisition, the company will conduct due diligence on 2,300 miles of fiber-optic network located in America. iQSTEL has been in discussions with the target acquisition over the past two years first announcing a potential partnership in May of 2021. The acquisition would accelerate iQSTEL’s entry into the 5G marketplace, expected to reach $700 billion by 2025. Following a 90-day due-diligence period, iQSTEL is expected to make an offer for the acquisition of 100% of the capital stock of the company that owns the fiber-optic network. 

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IQST

IQST continues to experienced record revenue growth and reported a 37% increase in revenue to $19.42 million in Q1 compared to the same period in 2021 in its Q1 filing. The company is approaching breakeven posting a substantial bottom line improvement reducing its net loss by 72% compared to the same period last year.  Stockholder’s equity increased 410% to almost $7 million compared to Q1 2021 surpassing the Nasdaq minimum listing requirement. The current financial results do not include the recently announced acquisitions of Smartbiz and Whisl that are expected to add $11.6 Million revenue and $1.34 Million positive net income to the company’s existing revenue and income on yearly basis. The company will start to show this impact in Q2 partially and in Q3 in full. IQST also reported $7.4 million in revenue for the month of April 2022 based on preliminary accounting. The revenue in April 2022 increased 40% over the revenue reported in April 2021 and increased 14% over the average monthly revenue reported in Q1 2022. Management indicates that the year-to-date results surpass expectations in regard to the company’s $90 million revenue, net income positive FY-2022 forecast. 

We have reported many times on IQST entry into the booming EV marketplace with its first batch of EV Motorcycles having rolled off the production line. The first production run was shipped to Spain for distribution in Europe, the United States, and Panama, for distribution in Latin America. The company is producing four different model EV Motorcycles resulting in the combination of two different electric motors, a 2 kw and a 3 kW, and two different batteries, a 50 amp-h and a 75 amp-h.  The four different model EVOSS EV Motorcycles are designated as the EVOSS 250, the EVOSS 275, the EVOSS 350 and the EVOSS 375.  All EVOSS EV Motorcycles include a removable 72 Volt battery with a charging unit. The 4 models are intended to allow consumers to select the right solution for their specific geography and purpose – city or open road; hills or flats, personal transportation, or delivery service. The current EVOSS EV Motorcycles have a 100 km range per battery charge. The Company’s manufacturing partner in China is thoroughly testing the EVOSS EV Motorcycles to ensure specification compliance.  The tests include driving the EV Motorcycles over a 22-degree slope. 

The Company continues to make progress; the new EV Motorcycles (EVOSS), MasterCard Fintech Ecosystem (MAXMO), and Internet of Things (IoTSmart Gas/Tank) solutions are all fully developed, market tested and ready to begin generating high margin revenues. 

The first batch of EVOSS EV Motorcycles have received excellent customer reviews.  We are now working on the commercial launch in 4 countries this year. 

The Company announced its first MasterCard Fintech Ecosystem business partnership and is now working on three additional partnerships that we expect to fast track the rapid growth of our MasterCard Fintech Ecosystem. 

The IoTSmartGas/Tank has been deployed with a Fortune 500 chemical corporation customer. We expect to soon announce the results of this first deployment and then begin a global sales and marketing campaign. 

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Currently trading at a $68,934,385 market valuation IQST has 149,857,358 shares outstanding and trades on the OTCQX. The Company has $9.8 million in assets, including $4.2 million in cash vs. $2.9 million in liabilities and big revenues reporting $19,419,310 for the 3 months ended March 31, 2022 compared to $14,197,611 for the same period last year. The stock is moving steadily northbound since reversing off $0.36 lows. This week the Company reported it has received a formal offer to purchase iQSTEL’s entire electric vehicle (EV) subsidiary.  The offer values iQSTEL’s EVOSS Electric Vehicle operation substantially higher than iQSTEL’s internal valuation.  The buyer is a US company that has filed an S-1 for an initial public offering (IPO) on Nasdaq. According to IQST management “The offer to acquire iQSTEL’s electric vehicle business independent of iQSTEL’s telecommunications business also demonstrates that it may be in the best interest of iQSTEL shareholders for the company to pursue separate Nasdaq listings for its telecommunications and electric vehicle businesses.  However, iQSTEL Management and the Board of Directors believe it would be best to pursue such independent Nasdaq listings directly and separate from any merger and acquisition in order to minimize any potential dilution to the iQSTEL shareholders and optimize the market valuation of each separate business.  Accordingly, iQSTEL Management and the Board of Directors has decided to decline the subject offer” Things seem to be on track at IQST. According to IQST CEO Leandro Iglesias: “the Company is well positioned to endure the prevailing market conditions and continue in the execution of our plan to achieve $90 million in revenue this year with positive net income.  We have adequate cash to avoid any fundraising until next year. We are continuing to prepare for a Nasdaq up-listing and will look for an opportunity to do so when market conditions can support an organic increase in iQSTEL’s share price to the Nasdaq minimum listing standard. We will be updating on IQST when more details emerge so make sure you are subscribed to Microcapdaily.

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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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