IQST – iQSTEL highlights material information discussed in recent executive interview
New York, NY, Aug. 12, 2022 (GLOBE NEWSWIRE) — iQSTEL, Inc. (OTCQX: IQST ) today released material highlights from an executive interview conducted yesterday, August 11, 2022.
Alvaro Quintana, Tony Abdo and Leandro Iglesias were interviewed on Alpha Status Stocks by Michel Poarch.
Material highlights include:
1) The company plans to file its 10Q report for the period ended June 30, 2022 on Monday, August 15th.
2) The report is expected by management to show all positive trends consistent with the company’s goals: The annual revenue forecast of $90 million for 2022 will reach a positive net income result by the end of the year.
3) The company expects to be close to break-even in the 3rd quarter and achieve positive net income in the 4th quarter and beyond.
4) The company plans to publish the forecast for 2023 in September.
5) Management reports that the company’s Telecom Business Division is performing incredibly in increasing revenues and increasing gross profit as a percentage of revenue.
6) The CFO and CEO indicate that the integration of the recent Smartbiz and Whisl acquisitions with the other subsidiaries has gone smoothly and both are working as a team with the company’s current telecom business to increase revenue and increase gross profit as a percentage of revenue.
7) The company maintains spinoff plans for EVOSS to be listed on Nasdaq.
8) The current plans for the EVOSS spinoff involve IQSTEL as the largest shareholder, a minority stake sold in an IPO, and another minority interest distributed to the IQST shareholders.
9) This spinoff is expected to be completed in a shorter time than initially expected.
10) The EVOSS division is in the process of finalizing a long-term agreement with a factory in China to manufacture EVOSS EV motorcycles.
11) EVOSS plans to distribute its electric motorcycles in the United States, Spain, Portugal, Panama, Colombia and Venezuela.
12) In response to the reviews of the first batch, we decided to improve the design of the EVOSS, with a model 550 Elite, with a 5Kw engine, CBS brakes, larger brake discs and an accelerator pedal function to charge the battery using the energy of the motorcycle movement to extend the range up to 30%. The company is also working on having batteries that will support up to 1,200 full charges. Retail price target is $4-5K.
13) The company plans to rent a store in a shopping mall in Madrid to have an exhibition and customer service in Spain for one million visitors per year.
14) The company plans to accept the next EVOSS order this quarter with end customer deliveries increasing revenue in the fourth quarter.
15) The company is in negotiations with a loan partner to establish a non-dilutive credit line of 3 million dollars to further develop the EVOSS business.
16) The company is now also working on the design of a medium-speed electric car. Prototypes are expected to be available in Q4 with sales starting in Q1 2023. The retail price target for this car is $12-15K.
17) Our Fintech division has signed 3 partnerships to serve the significant immigrant market in the US (70 million people).
18) Our Internet of Thing business continues to work with the largest chemical company in the world, and is also in negotiations with one of the largest gas distributors in Mexico, while also working on a major opportunity in Saudi Arabia.
About iQSTEL Inc.:
iQSTEL Inc (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly traded company that provides leading telecommunications, technology and high technology services for global markets, with a presence in 13 countries. The company provides services for telecommunications, electric vehicles (EV), liquid fuel distribution, chemical and financial services. iQSTEL has 4 business divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relationships 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 customers: SMS, VoIP, 4G and 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 Transfer, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).
Safe Harbor Statement: Statements in this press 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 other statements 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 in part 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 differ materially from those expressed or predicted in forward-looking statements due to a number of factors. Any forward-looking statements speak only as of the date of this press release, and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
iQSTEL Inc.
IR USA Phone: 646-740-0907, IR Email: [email protected]
Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com
