New York, New York–(Newsfile Corp. – April 16, 2021) – iQSTEL, Inc. (OTC Pink: IQST) immediately launched a letter to shareholders from CEO Leandro Jose Iglesias summarizing the highlights of the Annual Report for FY-2020 with Audited Financials printed on Kind 10k yesterday, April 15, 2021. The letter to shareholders additionally features a assessment of Q1 2021 efficiency and highlights anticipated to be printed within the upcoming 10Q. Mr. Iglesias goes on to stipulate administration plans for the corporate in Q2 and the stability of 2021. The letter to shareholders is included in its entirety beneath:
April 16th, 2021
We wish to thank all people for his or her communications with the corporate, reflecting their assist and encouragement of iQSTEL’s steady marketing strategy progress.
It is vital to comment that FY-2020 was an incredible yr for iQSTEL, setting the muse for future progress.
Over the course of FY-2020, and Q1 FY-2021, we established 4 enterprise divisions:
1) Telecommunications: SMS, VoIP, 5G Worldwide Connectivity, Ommichannel presence
2) Know-how: Web of Issues units and platforms (IoTSmartGas, IoTSmartTank, IoTSmartEV), and our Batteries for Electrical Automobile business (iQBatteriesEV)
3) Fintech: Visa Debit Card and our remittances providers (VisaMoneyOne.com)
4) Blockchain: Our Blockchain Platforms Developer with our Cell Quantity Portability Utility (MNPA) and our Settlement & Fee Market (SPM)
This extensive portfolio of merchandise makes us a “one cease store” for Telecom & Know-how Providers. Although our providers are unfold throughout 7 subsidiaries (Etelix, SwissLink, QGlobal, SMSDirectos, IoT Labs, International Cash One, and itsBchain), we’re organized to supply our prospects one unified, singular and precious buyer expertise.
We’ve initiated a transfer to consolidate our Telecom Division below one model identify, IQSTelecom, to optimize our advertising and marketing and on the similar time, make our back-office operations extra environment friendly thus rising our EBITA.
Towards the top of FY-2020, we applied a plan to eradicate debt. As of Q1 FY-2021, we’re a Debt Free Firm, with no convertible notes, warrants or settlements. This main milestone frees us to take a position all obtainable funds from our operations and Reg A providing into additional strengthening our stability sheet and rising the corporate. Subsequently, we count on to see enchancment in our consolidated Assertion of Operations and Stability Sheet all through FY-2021.
All these actions summarized herein, to incorporate the implementation of a wider portfolio of merchandise, and the elimination of debt, put us nicely on observe to attain our up-listing goal. Search for extra information coming quickly asserting the subsequent and last steps resulting in our up-listing.
As we enhance operational efficiencies in FY-2021, administration intends, on the similar time, to speed up our ongoing M&A marketing campaign to develop purposeful and geographic attain and add extra income that will contribute to our probably exceeding the FY-2021 $60.5 Million income forecast.
FY-2020, 10-Okay Abstract:
● The audit of the Consolidated Monetary Statements for FY-2020 was efficiently accomplished, and the Audited Consolidated Monetary Statements can be found to the general public within the 10-Okay printed April 15, 2021.
● Although the yr 2020 was marked by the COVID-19 pandemic, with the closure of corporations and international locations fully paralyzed, iQSTEL was capable of advance within the improvement of its marketing strategy, reaching a $44.9 Million Audited Income for FY-2020, vs. $18.0 Million for FY-2018, representing a rise of 149%.
● We lowered the Loss Per Share to $(0.10) in FY-2020 versus $(0.35) in FY-2019, a major discount of 70%.
● The corporate elevated its property to $5.9 Million in FY-2020, vs. $5.6 Million in FY-2019, mainly pushed by the rise within the money place.
● We lowered the liabilities to $8.3 Million in FY-2020, from $11.3 Million in FY-2019.
● Total, gross sales have elevated by 149% on this FY, decreasing the loss per share by 70% with a rise in Present Property of 1.04%. This was achieved whereas decreasing the Present Liabilities by 29% year-over-year, and Complete Liabilities by 27%.
FY-2021, Q1 Anticipated Achievements To Be Printed In The 10Q By Might 14th.
● The elimination of all of the convertible notes, warrants, and settlements making iQSTEL a debt-free firm. It will save round $3 million in debt service the Firm will alternatively be capable of put money into strengthening the stability sheet and rising the corporate.
● A strengthened stability sheet with elevated property and lowered liabilities.
● Income progress on observe towards our $60.5 Million annual income forecast.
● The consolidation of all telecommunication operations below one model, IQSTelecom.
● The memorialized recognition of our IoT breakthrough award for our IoTSmartGas expertise.
FY-2021, Q2 Plans:
● The industrial launch of the MNPA Blockchain platform in April.
● The primary stage discipline check of the IoTSmartTank in April.
● The primary manufacturing of our IoTSmartTank expertise for a Fortune 500 Chemical Shopper by Might/June.
● The Launch of our Fintech, Visa Debit Card product, VisaMoneyOne by June.
● The primary monetary outcomes from the implementation of operational efficiencies.
● The execution of our subsequent deliberate step to up-list by April/Might.
● The primary progress from our M&A marketing campaign.
● Continued income progress on observe towards our $60.5 Million income goal.
● New and improved communication channels with our Shareholders and Ambassadors, elevated social media presence, and an enhanced web site with a brand new “Meet Us” characteristic.
We genuinely admire and respect our shareholders and supporters. Please be sure you be a part of our Ambassador Program for direct contact with our different “Lengthy-Standing” shareholders and supporters. As nicely, be at liberty to electronic mail or name us for direct communications with our top-notch Investor Relations Workforce, all discovered on our web site.
Leandro Jose Iglesias
iQSTEL Inc. (www.iqstel.com)
President & CEO
About iQSTEL Inc.:
iQSTEL Inc. (OTC Pink: IQST) (www.iQSTEL.com) is a US-based publicly-listed firm providing modern Telecommunication, Know-how and Fintech Providers for International Markets, with presence in 13 international locations. The corporate supplies providers to the Telecommunications, Electrical Automobile (EV), Liquid Gas Distribution, Chemical and Monetary Providers Industries. iQSTEL has 4 Enterprise Divisions: Telecom, Know-how, Fintech and Blockchain, with worldwide B2B and B2C buyer relations working by means of its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, International Cash One and itsBchain. The Firm has an intensive portfolio of services and products for its shoppers: SMS, VoIP, 4G & 5G worldwide infrastructure connectivity, Cloud-PBX, OmniChannel Advertising and marketing, IoT Good Electrical Automobile Platform, iQ Batteries for Electrical Autos, IoT Good Fuel Platform, IoT Good Tank Platform, Visa Debit Card, Cash Remittance, Cell Quantity Portability Utility MNPA (Blockchain Platform) and Settlement & Funds Market (Blockchain Platform).
Secure Harbor Assertion: Statements on this information launch could also be “forward-looking statements”. Ahead-looking statements embody, however aren’t restricted to, statements that specific our intentions, beliefs, expectations, methods, predictions or another statements referring to our future actions or different future occasions or circumstances. These statements are based mostly on present expectations, estimates and projections about our enterprise based mostly, partially, on assumptions made by administration. These statements aren’t ensures of future efficiency and contain dangers, uncertainties and assumptions which might be tough to foretell. Subsequently, precise outcomes and outcomes might, and are prone to, differ materially from what’s expressed or forecasted in forward-looking statements because of quite a few components. Any forward-looking statements converse solely as of the date of this information launch and iQSTEL Inc. undertakes no obligation to replace any forward-looking assertion to replicate occasions or circumstances after the date of this information launch.
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