IQST – iQSTEL Expects to Reach Nasdaq Equity
New York, NY, December 30, 2021 (GLOBE NEWSWIRE) – iQSTEL, Inc. (OTCQX: IQST) today released another letter to shareholders from CEO Leandro Iglesias in an ongoing series of updates in conjunction with the upgrade initiative on the Nasdaq. The CEO’s latest letter to shareholders is included in full below:
The New Year is hours away and I couldn’t be happier or more proud of all of iQSTEL’s accomplishments in 2021. Today I’ll be sharing the latest updates and a particularly exciting milestone that will quickly pave the way for us to sign up. at the Nasdaq in 2022.
We have already announced that iQSTEL will exceed its revenue forecast by $ 60.5 million for 2021. Today, I am happy to share that at the time of writing, we have passed $ 64 million. beyond our revised revenue forecast of $ 63 million for 2021. We will end 2021 in a very good position for rapid and continued revenue growth and on track to meet our positive revenue forecast of $ 90 million for 2022 .
In addition to our improved revenues in 2021, our electric motorcycles will be rolling off the production line any minute. We plan to post videos from this exciting event in the coming days.
Tony Abdo is rapidly evolving in his new leadership role as Executive Chairman of the iQSTEL Fintech Business Division and CEO of EVOSS. I look forward to sharing with you the results of his leadership in 2022.
In conjunction with the Strategic Funding Initiative of over $ 50 million and approved by our Independent Board of Directors (CA) that was disclosed in my previous communications, we plan to close on an initial amount of $ 2.75 million. of dollars before the clock strikes midnight on New Years Eve. This funding step will bring iQSTEL’s financial statements into line with the Nasdaq minimum capital requirement and help accelerate our listing increase in 2022. We remain confident that we can achieve a Nasdaq increase in the first year. semester 2022.
Regarding the global strategic funding, we plan to finalize the conditions imminently and execute a condition sheet before the close of business on Friday this week for funding of $ 60 million over a three-year period. Our intention is to devote funds primarily to our ongoing merger and acquisition campaign.
I remain optimistic that when we release our 2021 audited financial statements with over $ 64 million in revenue and equity in line with minimum Nasdaq listing standards, the IQST share price will align with its still unrecognized value. on the market respecting the minimum Nasdaq share price. requirements.
Thank you again for all your continued support and enjoy your vacation, but also keep an eye out for additional shareholder letters by the end of the year.
iQSTEL Inc. (OTCQX: IQST) (www.iQSTEL.com) is a publicly traded US company with an independent board of directors and independent audit committee providing cutting edge services through its two business divisions and each with independent brands. The B2B division, Brand IQSTelecom offering telecommunications, Internet of Things, technology and blockchain platform services, the target market of the B2B division is Global Markets. The B2C division, the EVOSS brand offering EV electric motorcycles, the Fintech ecosystem, the target market of this commercial division is Latin America and Spanish speakers in the United States. The company is present in 15 countries and its products and services are used in several industries such as telecommunications, electric vehicles (EVs), financial services, chemical distribution and liquid fuel industries. IQSTEL announced on February 17, 2021 that it has become a debt free company and is now completely debt free with no convertible notes, warrants, promissory notes or settlement agreements on its balance sheet.
Safe Harbor Statement: Statements contained in this press release may be “forward-looking statements”. Forward-looking statements include, without limitation, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statement relating to our future business 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 results and results may differ and are likely to differ materially from what is expressed or expected in forward-looking statements due to many factors. All forward-looking statements speak only as of the date of this press release, and iQSTEL Inc. assumes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release. This press release does not constitute a public offer for the sale of securities. Any privately offered securities will not or have not been registered under the Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.
IR Phone in US: 646-740-0907, IR Email: [email protected]
Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com