IQST - iQSTEL Restructures Investment Agreement Demonstrating Confidence In Company's Future
New York, NY, Oct. 05, 2022 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQX: IQST) ("IQST" or the "Company"), today announced the company has amended a common stock purchase option. “I believe the amended agreement demonstrates the confidence of an important investor has in iQSTEL’s future,” stated iQSTEL CEO Leandro Iglesias.
The original stock purchase option was purchased for $500,000 to purchase 4,800,000 shares of common stock at $2 price, the original stock purchase option also included a cashless exercise feature. The amended agreement has the investor agreeing to forgo the original cashless exercise feature after the first $1,000,000 cashless exercise in addition to committing to cash exercise schedule favorable to iQSTEL.
CEO Leandro Iglesias:
“I am pleased with the update to the subject investment agreement, and I believe the option amended agreement demonstrates the confidence an important investor has in iQSTEL’s future. This vote of confidence is particularly valuable while prevailing market conditions are less than favorable. While the past two days have provided welcome relief to downward market trends, I believe the likelihood of continued volatility and price pressure remain high for the foreseeable future. I believe the overall prevailing market conditions have more impact today on iQSTEL’s share price than iQSTEL’s performance. I also believe, that in time, that will change and iQSTEL’s performance will once again drive share price performance. In the meantime, all of us here at iQSTEL will continue to work hard to deliver the extraordinary results shareholders have come to expect from us. I remain confident, that the best is yet to come and view the subject investment agreement announced today as in important vote of confidence from an important investor that also believes the best is yet to come.”
Specific details on the subject stock option agreement amendment can be found in a Form 8k filed today.
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.
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