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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): March
5, 2024
iQSTEL Inc.
(Exact name of registrant as specified in its charter)
Nevada |
000-55984 |
45-2808620 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
|
|
300 Aragon Avenue, Suite 375
Coral Gables, FL 33134 |
33134 |
(Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number, including area code: (954) 951-8191
________________________________________________
(Former name or former address, if changed since last
report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions:
[ ] |
Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) |
|
|
[ ] |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
[ ] |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
[ ] |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None.
Indicate by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
(§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. [ ]
SECTION 2 – Financial
Information
| Item 2.02 | Results of Operations and Financial Condition. |
On March 5, 2024, we issued a press release concerning our revenue results,
our anticipated revenue results for 2024, anticipated performance of recent acquisitions and other matters.
The shareholder letter is furnished with this Current Report on Form 8-K
as Exhibits 99.1. The information furnished under this Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibit 99.1,
shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any registration statement or other filing
under the Securities Act of 1933, as amended, regardless of any general incorporation by reference language in such filing, except as
shall be expressly set forth by specific reference in any such filing.
SECTION 9 – Financial
Statements and Exhibits
| Item 9.01 | Financial Statements and Exhibits. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
iQSTEL Inc.
/s/ Leandro Iglesias
Leandro Iglesias
Chief Executive Officer
Date March 5, 2024
IQST – iQSTEL Announces $33 Million YTD Revenue and
April 1st Target Date to Close QXTEL Acquisition Taking Revenue to Quarter of Billion Annually
NEW YORK, March 5, 2024 -- iQSTEL
Inc. (OTC-QX: IQST) today announced the company’s YTD revenue through the end of February 2024, based on preliminary accounting,
reached $33 million. iQSTEL management also reports that the company’s gross margin YTD continues to trend up in conjunction with
the company’s forecast.
The revenue announced today does
not reflect any benefit from the QXTEL acquisition agreement announced on January 22, 2024 and it
does not reflect any contribution from the Pro Forma financial statement published in conjunction
with the QXTEL acquisition on February 8, 2024.
While the revenue reported today does not include
any benefit from the QXTEL acquisition agreement, iQSTEL management has set April 1st as the target date for closing the acquisition.
“In less than 30 days, we expect iQSTEL
to officially be a quarter of a billion dollar in annual revenue company,” said Leandro Iglesias, iQSTEL CEO. “Even though
the acquisition is not yet closed, the two company’s have already begun working closely together in anticipation of the April 1st,
closing. We have begun cross selling and seizing operational synergies. After April 1st, look for our next updates to be about
our ongoing M&A campaign and our up-listing to the Nasdaq exchange.”
About IQSTEL:
iQSTEL
Inc. (OTC-QX: IQST) (www.iQSTEL.com)
is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $140 million revenue based
on preliminary accounting. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible
regardless of race, ethnicity, religion, socioeconomic status, or identity. iQSTEL recognizes that in today's modern world, the
pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access
to ubiquitous communications, the freedom of virtual banking, clean affordable mobility and information and content. iQSTEL has 4 Business
Divisions delivering accessibly to the necessary tools in today's pursuit of basic human needs: Telecommunications, Fintech, Electric
Vehicles and Metaverse.
| · | The Enhanced Telecommunications Services Division (Communications)
includes VoIP, SMS, International Fiber-Optic, Proprietary Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain Platform. |
|
| · | The Fintech Division (Financial Freedom) includes remittances
services, top up services, Master Card Debit Card, a US Bank Account (No SSN required), and a Mobile App. |
|
| · | The Electric Vehicles (EV) Division (Mobility) offers Electric
Motorcycles and plans to launch a Mid Speed Cars. |
|
| · | The Artificial Intelligence (AI)-Enhanced Metaverse Division
(information and content) includes an enriched and immersive white label proprietary AI-Enhanced Metaverse platform to access products,
services, content, entertainment, information, customer support, and more in a virtual 3D interface. |
|
The company
continues to grow and expand its suite of products and services both organically and through mergers and acquisitions. iQSTEL has
completed 10 acquisitions since June 2018 and continues to develop an active pipeline of potential future acquisitions.
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 information 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 partly 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. This press release does not constitute a public offer of any securities for sale.
Any securities offered privately 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.
iQSTEL
Inc.
IR US Phone: 646-740-0907
IR Email: investors@iqstel.com
Contact
Details
iQSTEL Inc.
+1 646-740-0907
investors@iqstel.com
Company
Website
www.iqstel.com
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