New York, New York–(Newsfile Corp. – April 16, 2021) – iQSTEL, Inc. (OTC Pink: IQST) at present launched a letter to shareholders from CEO Leandro Jose Iglesias summarizing the highlights of the Annual Report for FY-2020 with Audited Financials revealed on Type 10k yesterday, April 15, 2021. The letter to shareholders additionally features a overview of Q1 2021 efficiency and highlights anticipated to be revealed 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 everyone for his or her communications with the corporate, reflecting their help and encouragement of iQSTEL’s steady marketing strategy progress.
It is vital to comment that FY-2020 was a tremendous 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) Expertise: 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 Cellular Quantity Portability Utility (MNPA) and our Settlement & Fee Market (SPM)
This extensive portfolio of merchandise makes us a “one cease store” for Telecom & Expertise Providers. Regardless that 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 useful buyer expertise.
We now have initiated a transfer to consolidate our Telecom Division underneath one model identify, IQSTelecom, to optimize our advertising and marketing and on the identical 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 accessible funds from our operations and Reg A providing into additional strengthening our stability sheet and rising the corporate. Subsequently, we anticipate 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 further information coming quickly saying the following and closing steps resulting in our up-listing.
As we enhance operational efficiencies in FY-2021, administration intends, on the identical time, to speed up our ongoing M&A marketing campaign to increase purposeful and geographic attain and add further income which will contribute to our doubtlessly 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 revealed April 15, 2021.
● Regardless that the yr 2020 was marked by the COVID-19 pandemic, with the closure of firms 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 decreased 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, principally pushed by the rise within the money place.
● We decreased 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 completed whereas decreasing the Present Liabilities by 29% year-over-year, and Whole Liabilities by 27%.
FY-2021, Q1 Anticipated Achievements To Be Printed In The 10Q By Could 14th.
● The elimination of all of the convertible notes, warrants, and settlements making iQSTEL a debt-free firm. This may save round $3 million in debt service the Firm will alternatively be capable of spend money on strengthening the stability sheet and rising the corporate.
● A strengthened stability sheet with elevated property and decreased liabilities.
● Income progress on observe towards our $60.5 Million annual income forecast.
● The consolidation of all telecommunication operations underneath one model, IQSTelecom.
● The memorialized recognition of our IoT breakthrough award for our IoTSmartGas expertise.
FY-2021, Q2 Plans:
● The business launch of the MNPA Blockchain platform in April.
● The primary stage subject check of the IoTSmartTank in April.
● The primary manufacturing of our IoTSmartTank expertise for a Fortune 500 Chemical Shopper by Could/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/Could.
● 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” function.
We genuinely recognize and respect our shareholders and supporters. Please you should definitely be a part of our Ambassador Program for direct contact with our different “Lengthy-Standing” shareholders and supporters. As nicely, be happy to electronic mail or name us for direct communications with our top-notch Investor Relations Group, 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, Expertise and Fintech Providers for International Markets, with presence in 13 international locations. The corporate offers providers to the Telecommunications, Electrical Automobile (EV), Liquid Gasoline Distribution, Chemical and Monetary Providers Industries. iQSTEL has 4 Enterprise Divisions: Telecom, Expertise, Fintech and Blockchain, with worldwide B2B and B2C buyer relations working by 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 Automobiles, IoT Good Gasoline Platform, IoT Good Tank Platform, Visa Debit Card, Cash Remittance, Cellular 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 embrace, however are usually not restricted to, statements that specific our intentions, beliefs, expectations, methods, predictions or every other statements referring to our future actions or different future occasions or situations. These statements are based mostly on present expectations, estimates and projections about our enterprise based mostly, partially, on assumptions made by administration. These statements are usually not ensures of future efficiency and contain dangers, uncertainties and assumptions which are tough to foretell. Subsequently, precise outcomes and outcomes could, and are more likely to, differ materially from what’s expressed or forecasted in forward-looking statements resulting from 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 mirror occasions or circumstances after the date of this information launch.
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/release/80700