IQST - iQSTEL Higlights Material Information Discussed In Recent Management Interview
New York, NY, Aug. 12, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) today published material higlights of a management 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 the 10Q report for the period ended June 30, 2022 on Monday, August 15th.
2) The report is anticipated by management to show all positive trends consistent with corporate objectives: The $90 million 2022 annual revenue forecast reaching net Income positive performance by year end.
3) The company anticipates being close to break even in Q3 and reaching net income positive in Q4 and beyond.
4) The company plans to announce the forecast for 2023 in September.
5) Management reports that the company’s Telecom Business Division is performing amazingly growing revenue and increasing gross profit as a percentage of revenue.
6) The CFO and the CEO indicate that the integration of the recent Smartbiz and Whisl acquisitions with the other subsidiaries has gone smoothly and both are working as one team with the company’s current telecom operations to grow revenue and increase gross profit as a percentage of revenue.
7) The company is maintaining spinoff plans for EVOSS to get listed on Nasdaq.
8) The current plans for the EVOSS spinoff entail IQSTEL as the largest shareholder, a minority interest sold in an IPO, and another minority interest distributed to IQST shareholders.
9) This spinoff is anticipated to be completed in less time than initially expected.
10) EVOSS division is in the process of finalizing a long-term agreement with a factory in China to produce the EVOSS EV Motorcycles.
11) EVOSS plans to distribute its electric motorcycles in the USA, 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, having a model 550 Elite, with a 5Kw engine, CBS brakes, larger brake disks, and a gas pedal function to recharge the battery using the energy of the motorcycle movement to extend the range up to 30%. The company is also working to have bateries that will support up 1200 full charges. The retail price target is $4-5K.
13) The company is planning to rent a shop in a shopping center in Madrid to have an exhibition and customer service facility in Spain for one million visitors per year.
14) The company plans to accept the next EVOSS order this quarter with end customer deliveries adding to revenue in the fourth quarter.
15) The company is in negotiations with a lending partner to establish a non-dilutive credit line for $3 Million to further develop the EVOSS business.
16) The company is also now working on the design of a mid-speed electric car. Prototypes are expected to be available in Q4 with sales beginning in Q1 2023. The retail price target for this car is $12-15K.
17) Our Fintech division has signed 3 partnerships to serve the substantial immigrant market within the US (70 million people).
18) Our Internet of Thing business continues to work with the largest chemical corporation in the world, and at the same time, is in negotiations with one of the largest gas distributors in Mexico, while also working with a large opportunity in Saudi Arabia.
About iQSTEL Inc.:
iQSTEL Inc (OTCQX: IQST) (www.iQSTEL.com) 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).
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 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, 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.