iQSTEL Completes Non-Conversion
Agreements Halting All Further Conversions, Achieving Another Part
of the Major Exchange Uplist Roadmap
NEW YORK, NY -- September 8, 2020 -- InvestorsHub NewsWire --
iQSTEL Inc. (OTC:
IQST), a leading-edge 21st Century Enhanced Telecommunications
Service Provider, is pleased to announce an agreement with the last
matured noteholder has been reached, thereby succeeding in halting
all further conversions.
As detailed in previous releases, iQSTEL has now reached
non-conversion agreements with all matured note holders with
today’s announced M2B agreement.
iQSTEL reached an agreement with M2B allowing for a moratorium
on conversions until Nov 2020 with an extension option through Feb
2021. The extension is contingent upon a $150,000 payment due by
Nov 30th, 2020. In addition, a repayment plan is in place moving
forward.
As of this press release, iQSTEL has reduced the debt load
significantly and halted conversions from M2B, as detailed above
and in the corresponding 8-k linked below. The company’s Reg-A
investor is pleased with this last and final halt to conversions
and is expected to continue their support of iQSTEL.
“It has been a long road but our consistent efforts focused on
business growth and strong acquisitions are bearing fruit as
detailed in the recent 10-Q and press releases. Net income is a
huge milestone, and a required part of our NYSE or Nasdaq uplist
plans, along with debt reduction and halting of dilutionary
conversions. We thank M2B for their support and wish them well on
future endeavors,” Mr. Iglesias commented.
“This Lock-Up and Leak out agreement with M2B is another key
component for our subsequent acquisition plans,” Mr. Iglesias
added.
Full details are available in the corresponding 8-K.
https://www.otcmarkets.com/filing/html?id=14379465&guid=DTY6UKAXfktO6th
About iQSTEL Inc.:
iQSTEL Inc (OTC:
IQST) www.iQSTEL.com is a US-based
publicly listed company offering leading-edge 21st Century
Enhanced Telecommunications Services with a focus on a wide range
of cloud-based enhanced services to the Tier-1 and Tier-2 carriers,
corporate, enterprise, as well as the retail market. iQSTEL through
its subsidiaries Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT
Labs, IoT Smart Gas Platform, itsBchain offers a
"one-stop-shopping” for international and domestic VoIP services,
IP-PBX services, SMS exchange for A2P and P2P, OmniChannel
Marketing, Internet of Things (IoT) applications (IoT Smart Gas
Platform), 4G & 5G international infrastructure connectivity,
as well as blockchain-based platforms: Mobile Number Portability
Application (MNPA) and Settlement & Payments Marketplace for
VoIP, SMS and Data.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is a wholly owned
subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami,
Florida-based international telecom carrier founded in 2008 that
provides telecom and technology solutions worldwide, with
commercial presence in North America, Latin America, and Europe.
Enabled by its 214-license granted by the Federal Communications
Commission (FCC), Etelix provides International Long-Distance voice
services for Telecommunications Operators (ILD Wholesale), and
Submarine Fiber Optic Network capacity for internet (4G and 5G).
Etelix was founded in 2008 and has been profitable since
inception.
About SwissLink Carrier AG:
SwissLink Carrier AG www.swisslink-carrier.com is
a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a
Switzerland based international Telecommunications Carrier founded
in 2015 providing international VoIP connectivity worldwide, with
commercial presence in Europe, CIS and Latin America. SwissLink
Carrier AG is a Swiss licensed Operator, having a domestic
Interconnect with Swisscom, allowing their international Carrier
Customers direct terminations via SwissLink into all Switzerland
Fix & Mobile Networks. Since the takeover from Swissphone in
November 2018 and the rename into SwissLink, they operate on a
profitable level.
About QGlobal SMS LLC.:
QGlobal SMS LLC www.qglobalsms.com is a 51%
owned subsidiary of iQSTEL Inc. QGlobal SMS is a USA based company
and a commercial brand founded in 2020 specialized in international
and domestic SMS termination, with emphasis on the Applications to
Person (A2P) and Person to Person (P2P) for Wholesale Carrier
Market and Corporate Market in US. QGlobal SMS has commercial
presence in US, Mexico, Latin America, EMEA (Europe, Middle East,
Asia) and Africa, through our SMS service providers based in
Austin, TX and Miami, FL Our Austin-based SMS service provider is
specialized in the SMS traffic exchange between US and Mexico, and
our Miami-based SMS service provider is focused in the development
of Latin America and the rest of the world. QGlobal SMS has robust
international interconnection with Tier1 SMS Aggregators,
guarantying its customers high quality and low termination rates,
over more than 100 countries worldwide.
About Alcyon Cloud SMS S.A.S (Commercial
Brand SMSDirectos.com ):
Alcyon Cloud SMS S.A.S. (Commercial Brand SMSDirectos.com), is a whole
subsidiary of QGlobal SMS, a Colombian-based Application and
Content Provider. Alcyon Cloud SMS (SMSDirectos.com) is registered
with the Secretary of Information and Communication Technology
(ICT) in Colombia, offering services to government, enterprises,
small and medium business, as well as end-users. Using SMSDirectos’
existing network, they plan to expand services from SMS to offer
omnichannel products and services such as: SMS, Emails, RCS (Rich
Communications Services), Social Media Channels (Whats App,
Messenger, etc), WebRTC (Web Real-Time Communication), VoIP
(IP-PBX, SIP Trunking) ChatBots (Artificial Intelligence Based),
SMS to Email, and Email to SMS.
About IoT Labs MX SAPI:
IoT Labs MX SAPI www.iotlabs.mx , a subsidiary of
iQSTEL Inc, is an Internet of Things (IoT) Mexican technology
development company, creator of the “IoT Smart Gas” Platform and
Application. The IoT Smart Gas platform www.iotsmartgas.com consists
of an IoT field device installed on the LP gas tank (adaptable to
virtually any gas or liquid storage tank) and, thanks to the
Internet of Things (IoT) technology via Sigfox or GSM network
connectivity, allows remote managed and improved logistic processes
of refilling, usage tracking and tank monitoring in real-time by
the Smart Gas mobile app. The new GSM tracking feature allows for
mobile use including ground, air, and sea tank monitoring.
About itsBchain LLC.:
itsBchain LLC www.itsBchain.com is a 75% owned
subsidiary of iQSTEL Inc. itsBchain is a blockchain technology
developer and solution provider, with a strong focus on the telecom
sector. The company is the final stage of development of a
series of blockchain solutions aimed at using the blockchain
ledger and smart contract solutions to enable more efficiency,
quickness in execution and fraud-prevention in the telco
industry. Specifically, the company is developing a solution
that will enable users and carriers to transfer mobile phone
numbers with just a few clicks, allowing users and carriers the
ability to transfer retail users from one mobile carrier to
another instantly. Additionally, the company is finalizing a
carrier-grade marketplace solution to procure payments between
carriers for cross-traffic of VoIP, SMS and data realtime as
traffic is crossed between carriers. This marketplace will
allow for instant payment settlement as well as the prevention of
fraud between carriers.
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.
iQSTEL Inc.
IR US Phone: 646-740-0907, IR Email: investors@iqstel.com
Source: iQSTEL Inc. and its subsidiaries:
www.iqstel.com ; www.etelix.com ; www.swisslink-carrier.com ; www.qglobalsms.com ; www.smsdirectos.com ; www.iotlabs.mx ; www.iotsmartgas.com ; www.itsBchain.com
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