Form 8-K - Current report
August 29 2024 - 4:52PM
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2024-08-29
2024-08-29
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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): August
29, 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:
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[ ] |
Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425) |
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[ ] |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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[ ] |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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[ ] |
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 7 – Regulation FD Disclosure
| Item 7.01 | Regulation FD Disclosure |
iQSTEL, Inc. (the “Company”) is furnishing presentation materials
(the “Corporate Presentation”) that management intends to use, possibly with modifications, in one or more meetings from time
to time with current and potential investors. The Corporate Presentation includes an update on the Company’s current operations
and major projects, as well as information relating to the Company’s strategic plans, goals, growth initiatives and outlook, and
forecasts for future performance and industry development.
The foregoing description of the Corporate Presentation does not purport
to be complete and is qualified in its entirety by reference to the complete text of the Corporate Presentation attached as Exhibit 99.1
to this Current Report on Form 8-K.
The information contained in the Corporate Presentation is summary information
that should be considered in the context of the Company’s filings with the Securities and Exchange Commission and other public announcements
the Company may make by press release or otherwise from time to time. The Corporate Presentation speaks as of the date of this Current
Report. While the Company may elect to update the Corporate Presentation in the future to reflect events and circumstances occurring or
existing after the date of this Current Report, the Company specifically disclaims any obligation to do so.
By furnishing this Current Report on Form 8-K and furnishing the Corporate
Presentation, the Company makes no admission as to the materiality of any information in this Current Report, including without limitation
the Corporate Presentation. The Corporate Presentation contains forward-looking statements and the risks and uncertainties related thereto.
The information set forth in this Item 7.01 of this Report, including without
limitation the Corporate Presentation, is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended,
or the Exchange Act, except as may be expressly set forth by specific reference in such a filing.
SECTION 9 – Financial Statements and Exhibits
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Item 9.01 | Financial Statements and Exhibits. |
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Exhibit No. |
Description |
|
99.1 |
Corporate Presentation |
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 August 29, 2024
COMPANY
TEASER
|
Ticker: IQST
Latest Share Price: $0.19
Market Cap: $34.87 Million
Shares Outstanding: 183,535,742
Avg Volume: 319,029
CEO: Leandro Iglesias |
|
Business:
iQSTEL Inc. (OTC: IQST) is a fast-growing technology company
offering a range of services in the telecommunications, electric vehicle (EV), fintech, and AI-enhanced metaverse industries. With headquarters
in Miami, Florida, iQSTEL operates through its various subsidiaries, targeting diverse and high-growth markets. The company’s strategy
focuses on leveraging synergies between its 11 subsidiaries to drive innovation and capture emerging opportunities. Since 2018, IQST has
overseen extensive expansion of its business, where it has grown revenues 1,500% over a five-year period to $144.5 million in FY-2023,
and completed 11 acquisitions with 1 acquisition pending.
IQST with 100 employees serves clients in more than 20 countries,
including clients in the US, Mexico, Central America, South America, Europe, Middle East, Africa, India and China. Its core business offerings
VOIP, SMS, IoT (internet of things), Blockchain platforms, and international fiber-optic connectivity between Florida and Costa Rica,
at the same time, Integrates mobile payments and MasterCard Fintech solutions, electric motorcycles, mid speed electric car, AI-Enhanced
Metaverse solutions.
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|
Financials:
|
Balance Sheet (as of 12/31/2023 |
|
Historical Earnings (for Years Ended) |
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Assets |
|
|
|
|
|
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2023 |
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2022 |
|
|
Cash |
$ |
1,362,668 |
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Revenues |
|
$ |
144,502,351 |
$ |
93,203,532 |
|
|
A/R |
$ |
12,539,774 |
|
Cost of Revenues |
|
$ |
139,830,388 |
$ |
91,412,016 |
|
|
Total Current Assets |
$ |
15,719,172 |
|
Gross Profit |
|
$ |
4,672,013 |
$ |
1,791,516 |
|
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Total Assets |
$ |
22,155,653 |
|
|
|
|
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|
|
Operating Expenses |
|
|
|
|
|
|
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Liabilities |
|
|
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General & Admin |
|
$ |
4,987,516 |
$ |
4,983,176 |
|
|
A/P |
$ |
2,966,279 |
|
Total OpEx |
|
$ |
4,987,516 |
$ |
4,983,176 |
|
|
Other Current Liabilities |
$ |
9,993,585 |
|
|
|
|
|
|
|
|
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Total Liabilities |
$ |
14,109,781 |
|
EBITDA |
|
$ |
(315,503) |
$ |
(3,191,660) |
|
Investment Highlights:
| · | Revenue Growth: iQSTEL has demonstrated robust
revenue growth, with an impressive 33% CAGR over the past five years. The company reported revenue of $13.8 million in FY-2018, just reported
$144.5 million in FY-2023, and forecasted $290 million for FY-2024. |
|
| · | Diverse Revenue Streams: The company’s
multi-industry approach minimizes risk and increases resilience. iQSTEL’s ability to cross-leverage technology across segments creates
additional revenue opportunities. |
|
| · | Strategic Acquisitions: iQSTEL has executed 11
strategic acquisitions with another pending to bolster its market presence, particularly in the telecom and fintech sectors. These acquisitions
have expanded its customer base and service offerings. |
|
| · | Innovative Product Pipeline: iQSTEL is at the
forefront of innovation with its development of next-generation telecom services, EV motorcycles and mid speed car, and blockchain-based
financial products. The company’s R&D investments are expected to yield significant returns as these markets grow. |
|
Largest Customers:
| • | Telefonica
Spain |
|
|
|
|
• |
Etisalat |
| • | Telecom Italy |
|
• |
Deutsche
Telekom |
|
• |
PCCW |
| • | Vodafone |
|
• |
British
Telecom |
|
• |
Millicom |
Competitors
IQST is currently trading at a significant discount compared
to other companies, which are selling at a 0.75x revenue multiple, presenting immense potential upsides to investors.
|
Revenues |
Share Price |
Market Cap |
Revenue Multiple |
IQST |
$290 million** |
$0.18 |
$33 million |
0.11x |
NUVR |
$65 million |
$7.90 |
$41 million |
0.62x |
SURG |
$131 million |
$1.88 |
$37 million |
0.28x |
KTEL |
$18 million |
$0.38 |
$15 million |
0.83x |
OBLG |
$3.8 million |
$3.45 |
2.76 million |
0.72x |
**FY 2024 Run Rate
Future Plans:
| · | IQST is in the process to hire a US leading marketing
agency, to rebrand its divisions, improve its online marketing presence and increase overall shareholder value. |
|
| · | IQST will consolidate and complete ownership of different
divisions and subsidiaries in order to streamline operations and increase margins. |
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| · | IQST will leverage its large base of telecom infrastructure to develop a platform to attract new business, increase revenues and improve margin.
|
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The Company is planning to grow revenues to $1 billion in
annual sales by 2027, driven by two key drivers:
| · | Organic Growth: IQST estimates at least $0.5
Billion of the projected growth over the next three years will come from organic sales growth. |
|
| · | Strategic Acquisitions: The Company expects to
generate at least $250 million in additional revenue through strategic acquisitions of competitors and complimentary firms in the telecommunications
industry. An additional $250 million is expected from organic sales growth and synergies. |
|
IQST is currently in the process of completing an uplisting
to NASDAQ, with a target listing date of January 1, 2025.
Current Plan FY-2024:
| · | Rebranding and marketing plan for IQST |
| · | Consolidation of all subsidiaries with a target |
| · | $10.5 million raise in conjunction with NASDAQ listing |
Management:
| · | Leandro Iglesias – President & CEO, Chairman
of the Board |
| · | Alvaro Quintana – CFO, Director |
| · | Italo Segnini – Director |
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