IQST – iQSTEL CFO Confirms Nasdaq Up-List Plans And $90

New York, NY, Oct. 11, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) ("IQST" or the "Company") today announced Chief Financial Officer (CFO) Alvaro Quintana was interviewed in depth by PubCo Insight. The in-depth interview asked tough questions and Mr. Quintana did not shy away from the challenge. He confirmed and elaborated on the company’s plans to up-list to Nasdaq and also confirmed the company is on track to meet or exceed its 2022 $90 million revenue forecast.

The PubCo Insight interview is included in its entirety below:

PubCo Insight Interviews the Diverse Technology Holding Company, iQSTEL

CFO, Alvaro Quintana, Provides Financial Insight in Today’s Market

iQSTEL is a leading telecommunications and technology holding with a global presence. As a publicly-listed company (OTCQX: IQST), iQSTEL is committed to delivering innovative products and services through its four business lines: Telecom, Fintech, Blockchain, and Electric Vehicles. The Telecom Division offers cutting-edge communications solutions, while the Fintech business line provides secure financial services through its MasterCard Debit Card and US Bank Accounts. The Blockchain Platform Business Line is focused on harnessing the power of blockchain technology for various applications. The Electric Vehicle (EV) Business Line offers high-quality electric motorcycles and other electric vehicles. With a focus on excellence, innovation, and service excellence at every level, iQSTEL is dedicated to helping businesses worldwide achieve success.

With the company experiencing significant growth in recent months, due in part to acquisitions and new division launches such as EVoss and Global Money One, many investors have been excited about iQSTEL's prospects for the future. However, despite this positive momentum, the company's stock price has been struggling recently, with its market value significantly below its fundamental value.

PubCo Insight, a stock investing information and research site, was privileged to have a written interview with Alvaro Quintana, CFO of iQSTEL.

In our interview with Mr. Quintana, he addressed these concerns and discussed the state of iQSTEL's finances. He explained that although the company was focused on growing steadily and strategically over the long term, it remained financially healthy and well-positioned to continue its rapid expansion into new markets. Furthermore, he provided insight into iQSTEL's recently filed S1 with the SEC, highlighting recent milestones demonstrating the company's continued growth and potential for success. Overall, our interview with Mr. Quintana offered a valuable glimpse into the financial health of this dynamic and exciting company:

Q. What is the company's current state of financial affairs?

I should say all the financial information has been adequately disclosed in our filings of forms 10-K and 10-Q; and when there is a significant event that could impact in some way the normal development of our businesses, we always disclose those events filling the corresponding form 8-K; which we usually comment simultaneously with a PR. So the company has a full transparency policy regarding our financials and all significant events. At this time, there is nothing in particular that we have to mention or make reference to besides the fact that we are actively working on preparing our consolidated financial statements for the nine months ended September 30, 2022, which will be disclosed in the following due Form 10-Q.

Q. You recently filed an S1 with the SEC and updated it even more recently. Can you please tell us more? And, should I be concerned as a shareholder about any potential dilution?

The S1 is an offering statement intended to be used as an instrument to access new funds to finance our M&A campaign if needed. The Company should have, at all times, a viable tool to access funds to take advantage of new good business opportunities. Our Reg A offering statement reached its “expiration date” last August, and the Management thought an S1 was more suitable for a company looking for an up-listing to a national exchange.

Management has been very responsible in managing primary issuances of shares. Suppose a company issues shares, and the funds received from the issuance of the shares improve the company's financial results. In that case, it creates value for the shareholders, even if a dilution occurs. For example, we started selling shares of our Reg A late in May 2020. At that time, there were more or less 60 million shares issued. From May 2020 to April 2022, we sold 67.5 million shares from Reg A (from the 80 million shares we were qualified to sell). If we compare the financials of the company as of June 30, 2020, vs. the financials as of June 30, 2022, you will notice we have been creating value for our shareholders, even with a dilution of 100% done with the issuance of the shares sold on the Reg A. It will not be different from the S-1 if we use it.

Q. You are projecting 90 million in revenue for 2022. Please confirm that number and explain when you believe the company will reach profitability.

We are confident the Company will reach the projected 90 million in revenue for 2022, and we are on the right path to profitability within the coming few months.

Q. We realize there will be forward-looking projections, but based on your best estimates, what do you project the company's Financials for 2023?

We dedicate a significant part of our time during the last quarter of the year to preparing the budget for the following year. At this time, we are working on the 2023’s budget, so it is premature to give you any number, but in any case, the Company is setting goals to increase revenues, increased margins, and net profits. Moreover, the company has a very clear path of our business objectives that are available for all the shareholders and investors on our website; it´s important to remark that the company has a successful trajectory over performing all the things we promised. Unfortunately, the world economic situation has slowed us down on our plans, but we have not changed our path. As we always said, the company is better than ever.

Q. It appears the deal with Apollo incentivizes them to drive the share price down to acquire shares at a lower price. How is that good for shareholders? With the price dropping each day?

We do not believe one player has the power to drive the market. If Apollo has the power to drive the market down to benefit itself by being able to get more shares based on the structure of the deal, then I would expect that it would use that same power to push the share price up to maximize its profits from the sale of the shares they received. If that were so, all shareholders would benefit. But again, we do not think one player has the power to manipulate the market. What we see in the market is related to the general economic conditions in the U.S. and the entire World. The deal with Apollo is very good for the company because it allows the company to get funding for our M&A campaign if needed. Apollo committed to funding the company with up to $3.8 Million over the next 12 months. This commitment shows how the investors believe in our business plan, management, and our independent Board of Directors.

Q. For a while, there was a lot of talk about the company uplisting to NASDAQ. What happened to that? Is that still possible, and if so, how?

The Company fulfills all requirements to be listed on Nasdaq except for the minimum required stock price. We believe that within a favorable economic environment, the price of our stocks will be driven by the company's performance and not by the influence of the general economic conditions. This one will also pass, as has happened with other financial crises in the past. While that happens, we are working on having a better company every day, with solid and growing revenues, improving our gross and net margins. We are building a solid base for the future to come. In that scenario, we still believe we can reach the minimum required price in an organic way within an adequate economic environment.

The final message to all shareholders is that the Management Team is the company's main shareholder, so every decision we make is made with the best interest of the shareholders in mind. The current price of our stock reflects more the world economic situation because the company's business performance is better than ever. The Management Team founded this company on September 30, 2008 (Etelix.com USA, LLC) 14 years ago. iQSTEL is a life project for us, and we expect to be here for the next fourteen years and beyond!

(End of Interview)

Mr. Quintana’s explanations and insights into the company’s current position and future prospects have reassured us that iQSTEL is a robust and growing company with a positive outlook. We believe in the company and its management team and are confident that shareholders who continue to hold long and strong as iQSTEL enters this next growth phase will be rewarded for their patience. Thank you for taking the time to speak with us, Mr. Quintana, and thank you to our readers for following along.

(OTCQX: IQST)

For more on iQSTEL, go to www.iqstel.com.
For more on PubCo Insight, go to www.pubcoinsight.com
For more on Markets Herald, go to www.marketsherald.com
For interview on Markets Heralds, go to https://marketsherald.com/pubco-insight-interviews-the-diverse-technology-holding-company-iqstel/

Disclaimer Statement: This article is strictly the author’s opinion. All stocks involve risks and the possibility of losing all of your investment. Please consider all risks before investing and consult an investment advisor if you lack experience. The article was provided and paid for by Strategic Innovations First, who the companies mentioned paid for social media and research information. The companies have not approved or endorsed this article. Find our complete disclaimer statement here: https://pubcoinsight.com/legal-disclaimer/

About iQSTEL Inc.:

iQSTEL Inc. (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly listed company holding an Independent Board of Directors and Audit Committee with a presence in 19 countries and 70 employees offering leading-edge services through its four business lines. The Telecom Division (www.iqstelecom.com), which represents the majority of current operations, offers VoIP, SMS, proprietary Internet of Things (IoT) solutions, and international fiber-optic connectivity through its subsidiaries: Etelix, SwissLink, Smartbiz, Whisl, IoT Labs, and QGlobal SMS. The Fintech business line (www.globalmoneyone.com) (www.maxmo.vip) offers a complete Fintech ecosystem MasterCard Debit Card, US Bank Account (No SSN Needed), Mobile App/Wallet (Remittances, Mobile Top Up, Buy/Sell Crypto). Our Fintech subsidiary, Global Money One, is to provide immigrants access to reliable financial services that make it easier to manage their money and stay connected with their families back home. The BlockChain Platform Business Line (www.itsbchain.com) offers our proprietary Mobile Number Portability Application (MNPA) to serve the in-country portability needs through its subsidiary, itsBchain. The Electric Vehicle (EV) Business Line (www.evoss.net) offers electric motorcycles to work and have fun in the USA, Spain, Portugal, Panama, Colombia, and Venezuela. EVOSS is also working on the development of an EV Mid Speed Car to serve the niche of the 2nd car in the family.

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

Attachments