IQST- iQSTEL Expects Continued Rapid Growth In 2021 With Increased Profits
April 08 2021 - 10:38AM
InvestorsHub NewsWire
New York, NY -- April 8, 2021 --
InvestorsHub NewsWire -- iQSTEL, Inc. (USOTC:
IQST) today released a management update highlighting the
company’s FY2021 Operating Plan.
iQSTEL, is an innovative, high growth
US-based company offering leading-edge Telecommunication,
Technology, Fintech Services and Blockchain for Global Markets,
with presence in 15 countries. Building on a history of
providing wholesale, enhanced Telecommunication Services to Tier 1
and Tier 2, Name Brand Telecom Service Providers, iQSTEL has now
expanded its technology expertise to also deliver High-Tech
Solutions to the Electric Vehicle (EV), Liquid Fuel
Distribution, Chemical and Financial Services Industries. Today,
iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and
Blockchain.
iQSTEL revenue more than doubled from 2019
to 2020. The company reported revenue of $18 million in
FY2019 and anticipates soon reporting well over $44 million in
revenue for FY2020 in the upcoming publication of the company’s
audited annual financial report.
iQSTEL has forecasted revenue of $60.5
million for FY2021.
In addition to continued rapid revenue
growth in FY2021, management expects to report increased
profits.
iQSTEL ended Q1 with more than $2 Million
in cash putting the company in an ideal position to pursue its
expansion plans in the balance of
FY2021.
A key component of iQSTEL’s FY2021
Operations Plan is to invest in our current operating subsidiaries,
to improve their respective balance sheets, increase working
capital, and facilitate organic
growth.
We have already increased the working
capital of our SwissLink subsidiary from 500,000 CHF to 1 Million
CHF (1 CHF is equal to 1.07 USD), providing a solid foundation for
the SwissLink’s growth of this
year.
iQSTEL recently announced
the elimination of all
promissory notes and
warrants. The dramatic debt reduction and
debt burden carrying cost makes a substantial contribution to
improved profits.
iQSTEL also recently announced
the operational
consolidation of its telecommunication operations
in order to both build one
unified marketing brand name (www.IQSTelecom.com), and to effect operating
efficiencies, in turn, further contributing to improved
profits.
iQSTEL has grown both organically and
through merger and acquisition (M&A). The company’s
M&A campaign continues and could push revenue growth
past the current FY2021 $60.5 million
forecast. The consolidation of future
acquired operations could also further contribute to improved
profit margins.
About iQSTEL
Inc.:
iQSTEL Inc (OTC:
IQST) (www.iQSTEL.com) is a US-based publicly-listed company
offering leading-edge Telecommunication, Technology and Fintech
Services for Global Markets, with presence in 13 countries.
The company provides services to the
Telecommunications, Electric Vehicle (EV), Liquid Fuel
Distribution, Chemical and Financial Services Industries. iQSTEL
has 4 Business Divisions: Telecom, Technology, Fintech and
Blockchain, with worldwide B2B and B2C customer relations operating
through its subsidiaries: Etelix, SwissLink, QGlobal SMS,
SMSDirectos, IoT Labs, Global Money One 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 Electric
Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas
Platform, IoT Smart Tank Platform, Visa Debit Card, Money
Remittance, Mobile Number Portability Application MNPA (Blockchain
Platform) and Settlement & Payments Marketplace (Blockchain
Platform).
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
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