IQST - iQSTEL Management Converts 21
Million Common Shares to Series B Preferred Shares Reducing
Outstanding Share Count By More Than
22%
New York, NY -- December 8, 2020 --
InvestorsHub NewsWire -- iQSTEL, Inc. (USOTC:
IQST) today announces management’s conversion of 21 million
common shares held among the CEO, CFO and chief commercial officer
into Series B preferred shares over next days, effectively reducing
the outstanding share count by more than 22%. These Class B
preferred shares have a one-year lock-up, and upon conversion,
management has opted for a one-year leak out on the shares into the
outstanding share count.
“It is important for our current and
future investors to bear witness to our conversion of these shares
from common to preferred class. While many management teams
talk about the confidence they have in their companies, Alvaro,
Juan and I truly believe in the future of iQSTEL and its current
growth plans and wish to demonstrate that belief through this stock
conversion,” commented Leandro Iglesias, iQSTEL’s CEO. “We believe
the coming year holds great things for iQSTEL, including an
expansion of our fintech capabilities as well as a potential
up-list onto the Nasdaq, and we wish to demonstrate our confidence
in our future execution.”
As of the share conversion, outstanding
shares are reduced from 93,786,210 to 72,754,110.
The securities mentioned in this press
release 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.
About iQSTEL Inc
(Updated):
iQSTEL Inc (OTC:
IQST) (www.iQSTEL.com) is a US-based publicly-listed company
offering leading-edge Telecommunication and Technology Services for
Global Markets, with presence in 13 countries. The company
provides services to the Telecommunications, Financial
Services, Liquid Fuel Distribution and Electric Vehicle Industries.
iQSTEL has 3 Business Divisions: Telecom, Technology and Fintech,
with worldwide B2B and B2C customer relations operating through its
subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT
Labs, 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 Gas Platform, IoT Smart Electric Vehicle
Platform, Mobile Number Portability Application MNPA (Blockchain),
Settlement & Payments Marketplace (Blockchain), Visa Debit
Card, Money Remittance, and Pay Mobile Phone Services among
others.
About Etelix.com USA LLC
(iQSTEL´s Telecom
Division):
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
(iQSTEL´s Telecom
Division):
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
(iQSTEL´s Telecom
Division):
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 (iQSTEL´s
Telecom
Division):
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
(iQSTEL´s Technology
Division):
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
(iQSTEL´s Technology
Division):
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.
About Global Money One Inc
(iQSTEL´s Fintech
Division):
Global Money One Inc. (www.GlobalMoneyOne.com) is a 75% owned subsidiary of
iQSTEL Inc. Global Money One Inc is a Miami, Florida-based
Fin-Tech company that uses a blend of industry expertise,
state-of-the-art technology and compliance requirements to create
disruptive solutions that deliver control, security and real-time
payments and innovative Financial capabilities with reduced cost
for consumers, specially to the unbanked, underbanked and
underserved segments of today’s society. Our portfolio of
services will include a Prepaid VISA MoneyOne Card (www.visamoneyone.com) expected to enable customers to
make purchases in stores and online, withdraw cash at ATMs or
receive cash back when using it to make a purchase, recharge
prepaid mobile phone service and send money domestically or
internationally (+ 40 countries). The VISA MoneyOne Card is
expected to also facilitate the deposit of funds into bank
accounts, Remote Deposit Capture (RDC) by mobile phone, bill
payments, rewards, and digital gift cards. The VISA MoneyOne
is the new and freedom financial world wallet expected launch in
early Q2 2021.
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.qglobalsms.com ; www.swisslink-carrier.com ; www.smsdirectos.com ; www.iotlabs.mx ; www.iotsmartgas.com ; www.iotsmartev.com : www.itsBchain.com ; www.globalmoneyone.com ; www.visamoneyone.com
iQSTEL (QX) (USOTC:IQST)
Historical Stock Chart
From Aug 2024 to Sep 2024
iQSTEL (QX) (USOTC:IQST)
Historical Stock Chart
From Sep 2023 to Sep 2024