Benzinga | Sep 15, 2021 03:41PM EDT

2021 Is a Year of Expansion for Rising OTC Star iQSTEL Inc.

Blockchain, telecom, electric vehicles, the Internet of Things (IoT) and fintech. You might think this is a list of the most popular sectors to be involved in this decade -- and you'd be both right and wrong. It's not only today's most innovative sectors, it is also the 5 main business departments of iQSTEL Inc. (OTCQB:IQST), a U.S.-based publicly-traded company combining its capabilities across 2 business divisions, one for B2B under IQSTelecom flagship brand (Telecommunications - Internet of Things - Blockchain), and the other for B2C under the EVOSS flagship brand (EV Motorcycles - EV Batteries - Fintech), those 2 divisions to bring technology solutions to its worldwide customer base.

Originally a player in the telecommunications industry, iQSTEL saw an opportunity to use the technology expertise as a leverage to enter in others business lines as Internet on Things, Blockchain, Ev Batteries, EV Motorcycles, and Fintech. In all cases the use the technology is the connecting dots.

While some may view iQSTEL as overstretching itself by venturing into these new sectors, the company has shown that it can effectively leverage shared infrastructure and management expertise allowing it to focus on solutions for its end customers.

1. Up, Up and Away

Recently added to the OTCQB market in June 2021, and announcing an independent board of directors that month, iQSTEL has its eyes on the prize of a Nasdaq listing in the near future. Recently in August 2021, the company announced an independent audit committee, and got the Board consent to file a OTCQX application as part of its Nasdaq Uplisting path.

iQSTEL's management team also collectively retired 21 Million of IQST common shares to convert into Series B Preferred Shares in January 2021, this Series B preferred shares have 1 year lock-up renewable and 1 year leak out. Nowadays the Management is the largest shareholder of the company, further demonstrating its bullish outlook on long-term growth and path toward a Nasdaq uplisting. Moving from the OTCQB exchange to OTCQX and then to Nasdaq, where there is an abundance of market makers and visibility would be a large step forward for iQST stock.

2. Bye Bye, Debt

The company also took impressive steps to become debt-free, besides routine operational payables. This process, which started in late 2020 and ended in February 2021, gives iQSTEL the financial flexibility to pursue its expansion goals through future acquisitions.

Leandro Iglesias, iQSTEL's CEO commented in a press release, "Since the fourth quarter of 2020, we have eliminated over $3.3 million of debt from our balance sheet, which not only strengthens our financial condition but also improves our financial performance as net income is no longer burdened with interest expense."

3. An Expanding Company

Along this fiscal year 2021, the Company has been introducing new products into its portfolio of services in the new business areas as for example: 1) Mobile Number Portability Application MNPA (Blockchain Platform), 2) MAXMO - MasterCard Money One (Fintech Ecosystem: US Bank Account , MasterCard Debit Card, Mobile App/Wallet with Top Up, Remittances, Crypto Exchange Services), 3) 2,500 IoTSmartTank (IoT Proprietary Devices/platforms) to be installed in the 500 Fortune chemical corporation facilities in USA.

The next step up for IQSTEL on the launching of new products arena, is the manufacture of the first batch of Electric Motorcycles this fiscal year. In that sense the company just announced just executed a Letter of Intent (LOI) with an important EV Manufacturer in China to provide EV Motorcycles and EV Batteries under the EVOSS proprietary brand in 30 days after PO is placed.

Expansions such as these have placed the company squarely on track to achieve, and possibly surpass its 2021 goal of $60.5 million in revenue. This is bullish news for the company, whose management anticipates further revenue growth over the 2nd half of 2021, as sales normally pick up compared to the 1st two quarters of the year.

The author of this article owns shares in one or more of the stocks mentioned.

ABOUT IQSTEL:

iQSTEL Inc (OTCQB:IQST) (www.iQSTEL.com) is a US-based publicly-listed company holding an Independent Board of Directors and Independent Audit Committee offering leading-edge services through its two business divisions and each of them with independent brands. The B2B division, Brand IQSTelecom offering Telecommunications, Internet of Things, Technology and Blockchain platforms services, the target market for the B2B division is Global Markets. The B2C division, Brand EVOSS offering EV Electric Motorcycles, Fintech Ecosystem, the target market for this business division is Latin America, and the Spanish speakers in the USA. The company has presence in 15 countries, and its products and services are used in several industries as Telecommunications, Electric Vehicle (EV), Financial Services, Chemical and Liquid Fuel Distribution Industries. IQSTEL announced on February 17th 2021 that it became a Debt Free Company and is now completely debt free with no Convertible Notes, Warrants, Promissory Notes or Settlement Agreements from its Balance Sheet. IR US Phone: 646-740-0907 investors@iqstel.com