iQSTEL, Inc. Sales Jump 290% To $4.3 Million In July, Anticipates Beating $11.1 Million Q2 Volume In Q3 2020; Working With Debt Holders To Mitigate Future Conversion
iQSTEL, Inc. (OTC: IQST) announced today (August 18, 2020) that it reached a sales gain of 290% to $4.3 million in July 2020, and anticipates that Q3 2020 sales will beat its Q2 volume of $11.1 million. The $4.3 million represents a 290% spike compared to the Company’s revenues of $1.17 million in the July 2019 comparable period. In its recently filed 10Q with the SEC, the 21st Century enhanced telecommunications Company reported in the most recent Q2 period a gain on settlement of debts of $283,230. Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), also said that the Company continues to work with its debt holders to ‘mitigate conversion’.
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iQSTEL, Inc. (OTC: IQST) Sales Jump 290% To $4.3 Million In July, Anticipates Beating $11.1 Million Q2 Volume In Q3 2020; Working With Debt Holders To Mitigate Future Conversion
As iQSTEL, Inc. (OTC: IQST) has reported month after month of record performances, Mr. Iglesias, CEO, said, “Our July numbers have us on track to surpass the just released Q2 figures. Everyone has been working hard over the past few months, the net result has been record month after record month. In addition, we continue to work with our debt holders to mitigate conversion as we’ve recently announced. We’ll have further updates in the near term.” iQSTEL, Inc. (OTC: IQST) Sales Jump 290% To $4.3 Million In July, Anticipates Beating $11.1 Million Q2 Volume In Q3 2020; Working With Debt Holders To Mitigate Future Conversion.
iQSTEL, Inc. (OTC: IQST) recently filed a 10Q with the SEC for its Q2 period ended June 30, 2020 reflecting its diverse financial strength with all operating subsidiaries of the Company generating positive net income. Additionally, it showed a gross profit of $732,308 for Q2 2020 compared to a loss of ($91,728) for the comparable period in 2019. It also reported in the most recent period a gain on settlement of debts of $283,230. As iQSTEL, Inc. (OTC: IQST) grows, each of its operating subsidiary companies report positive net income and the Company is able to successfully show a gain on settlement of debts.
iQSTEL, Inc. (OTC: IQST) also cited optimistic views of the SMS market. SMS makes up a majority of its sales. It states that Grandview Research finds that the US SMS market alone is expected to exceed $12 Billion by 2025, representing an increase of some 150% compared to 2020. In an earlier press release on its Q2 2020 financials, iQSTEL, Inc. (OTC: IQST) reported that SMS operations represented some 65% of its revenue stream.
Underscoring the importance of SMS operations to its performance, last month iQSTEL, Inc. (OTC: IQST) announced it had signed an SMS Carrier Interconnect Agreement with Telefónica SA (NYSE: TEF) (Moviestar), a $50+ billion NYSE traded corporation serving 18+ countries. Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), said “With over 10 years of doing VoIP business with Telefonica, it was a natural progression to add our QGlobal SMS portfolio of products to the mix.”
iQSTEL, Inc. (OTC: IQST) Files 10Q For Q2 Quarter Ended June 30, 2020
iQSTEL, Inc.’s (OTC: IQST) sales jumped by 90% to $16.1 million for the first half YTD 2020. It also reported a spike in net comprehensive income to $1.2+ Million for the period Q2 2020. All operating subsidiaries of the 21st Century enhanced telecommunications service provider generated positive net income for the parent Company. As telecommunications become faster in 5G and the firm facilitates connectivity across the telecom marketplace, the Company continues to grow its global footprint and diversify with new products in a market expanding in artificial intelligence, blockchain and technological products that speed financial payments/settlements and mobile number portability (MNPA) changes in providers to consumers. iQSTEL, Inc. (OTC: IQST) Sales Jump 290% To $4.3 Million In July, Anticipates Beating $11.1 Million Q2 Volume In Q3 2020; Working With Debt Holders To Mitigate Future Conversion.
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST): “Our Subsidiaries Shine As Success Stories”
The new 10Q details how the company’s operating subsidiaries — including Etelix, SwissLink, QGlobal and IoT Labs — showed a positive net income for the Q2 2020 period. In addition, the filing detailed its reduction in expenses for the period by realizing a $283,230 gain on the settlement of debts.
Mr. Iglesias, CEO of iQSTEL, Inc.(OTC: IQST) Sees Exciting Q3 And Q4
Mr. Iglesias, CEO of iQSTEL, Inc.’s (OTC: IQST), said, “Q3 and Q4 are lining up to be very exciting and we look forward to providing updates as we reach new milestones.” iQSTEL, Inc. (OTC: IQST) Sales Jump 290% To $4.3 Million In July, Anticipates Beating $11.1 Million Q2 Volume In Q3 2020; Working With Debt Holders To Mitigate Future Conversion.
The parent company owns a 75% stake in blockchain subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide. It has acquired 51% of an Austin, Texas-based SMS U.S.-Mexico Service provider. Most recently it acquired IoT Labs MX SAPI. This Internet of Things (IoT) company is the creator of the “IoT Smart Gas” platform and application.
Source: Stock Market Press
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