2021 Is a Year of Expansion for Rising OTC Star iQSTEL Inc.

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Blockchain, telecom, electric vehicles, the Internet of Things (IoT), and fintech. You might think this is a list of the most popular sectors to be involved in this decade — and you’d be both right and wrong. It’s not only today’s most innovative sectors, it is also the 5 main business departments of iQSTEL Inc. IQST, a U.S.-based publicly-traded company combining its capabilities across 2 business divisions, one for B2B under IQSTelecom flagship brand (Telecommunications - Internet of Things - Blockchain), and the other for B2C under the EVOSS flagship brand (EV Motorcycles - EV Batteries - Fintech), those 2  divisions to bring technology solutions to its worldwide customer base. 

Originally a player in the telecommunications industry, iQSTEL saw an opportunity to use its technical expertise as leverage to enter other business sectors such as Internet of Things, Blockchain, EV Batteries, EV Motorcycles, and Fintech.

While some may view iQSTEL as overstretching itself by venturing into these new sectors, the company has shown that it may be able to effectively leverage shared infrastructure and management expertise allowing it to focus on solutions for its end customers.  

1. Up, Up and Away

Recently added to the OTCQB market in June 2021, and announcing an independent board of directors that month, iQSTEL has its eyes on the prize of a Nasdaq listing in the near future. Recently in August 2021, the company announced an independent audit committee and received the board's consent to file an OTCQX application as part of its Nasdaq uplisting path. 

iQSTEL’s management team also collectively retired 21 Million of IQST common shares to convert into Series B Preferred Shares in January 2021, the Series B preferred shares have a 1-year lock-up renewable and a 1-year leak out. Nowadays the management is the largest shareholder of the company, further demonstrating a possibly bullish outlook on long-term growth and path toward a Nasdaq uplisting. Moving from the OTCQB exchange to OTCQX and then to Nasdaq, where there is an abundance of market makers and visibility could be a large step forward for iQST stock. 

2. Bye Bye, Debt

The company also took impressive steps to become debt-free, besides routine operational payables. This process, which started in late 2020 and ended in February 2021, gives iQSTEL the financial flexibility to pursue its expansion goals through future acquisitions. 

Leandro Iglesias, iQSTEL’s CEO commented in a press release, "Since the fourth quarter of 2020, we have eliminated over $3.3 million of debt from our balance sheet, which not only strengthens our financial condition but also improves our financial performance as net income is no longer burdened with interest expense.”

3. An Expanding Company

Along this fiscal year 2021, the Company has been introducing new products into its portfolio of services in new business areas such as: 1) Mobile Number Portability Application MNPA (Blockchain Platform), 2) MAXMO - MasterCard Money One (Fintech Ecosystem: US Bank Accounts, MasterCard Debit Card,  Mobile App/Wallet with Top Up, Remittances, Crypto Exchange Services), 3) 2,500 IoTSmartTank (IoT Proprietary Devices/platforms) to be installed in a Fortune 500 chemical corporation's facilities in the USA. 

The next step up for IQSTEL is the launching and the manufacturing of the first batch of Electric Motorcycles this fiscal year. The company just announced that it had executed a Letter of Intent (LOI) with an important EV Manufacturer in China to provide EV Motorcycles and EV Batteries under the EVOSS proprietary brand in 30 days after PO is placed. 

Expansions such as these may have placed the company on track to achieve, and possibly surpass its 2021 goal of $60.5 million in revenue.  Its management anticipates further revenue growth over the second half of 2021,  as sales normally pick up compared to the first two quarters of the year. 

The author of this article owns shares in one or more of the stocks mentioned.

ABOUT IQSTEL:

iQSTEL Inc IQST (www.iQSTEL.com) is a US-based publicly-listed company holding an Independent Board of Directors and Independent Audit Committee offering leading-edge services through its two business divisions and each of them with independent brands. The B2B division, Brand IQSTelecom offering Telecommunications, Internet of Things, Technology, and Blockchain platforms services, the target market for the B2B division is Global Markets.  The B2C division, Brand EVOSS offering EV Electric Motorcycles, Fintech Ecosystem, the target market for this business division is Latin America and Spanish speakers in the USA. The company has a presence in 15 countries, and its products and services are used in several industries such 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. IR US Phone: 646-740-0907 investors@iqstel.com

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.