IQST- iQSTEL expects continued rapid growth in 2021 with increasing profits

NEW YORK, April 8, 2021 /PRNewswire/ — iQSTEL, Inc. (USOTC: IQST) today released a management update highlighting the company’s fiscal 2021 operating plan.

iQSTEL, is an innovative, high-growth American company providing cutting-edge telecommunications, technology, fintech and blockchain services for global markets, with a presence in 15 countries. Building on a history of providing wholesale and enhanced telecom services to Tier 1 and Tier 2 branded telecom service providers, iQSTEL has now expanded its technology expertise to also provide high-tech solutions to the electric vehicle. (VE), liquid fuel distribution, chemical and financial services industries. Today, iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain.

iQSTEL’s revenue more than doubled between 2019 and 2020. The company reported revenue of $18 million for fiscal 2019 and expects to soon report more than $44 million in revenue for fiscal 2020 in the forthcoming publication of the company’s audited annual financial report.

iQSTEL has forecast revenue of $60.5 million for fiscal 2021.

In addition to continued rapid revenue growth in fiscal 2021, management expects increased earnings.

iQSTEL ended the first quarter with over $2 million in cash, which puts the company in an ideal position to continue its expansion plans in fiscal 2021.

A key element of iQSTEL’s operating plan for fiscal 2021 is to invest in our current operating subsidiaries, improve their respective balance sheets, increase working capital and facilitate organic growth.

We have already increased the working capital of our subsidiary SwissLink from CHF 500,000 to CHF 1 million (CHF 1 equals USD 1.07), providing a solid foundation for SwissLink’s growth this year.

iQSTEL recently announced the deletion of all promissory notes and warrants. Dramatic debt reduction and the cost of the debt burden are contributing substantially to the improved earnings.

iQSTEL also recently announced the operational consolidation of its telecommunications operations in order to build both a unified marketing brand name (www.IQSTelecom.com), and achieve operational efficiencies, which in turn contribute to improved profits.

iQSTEL has grown both organically and through mergers and acquisitions (M&A). The company’s mergers and acquisitions campaign continues and could push revenue growth beyond current guidance of $60.5 million in fiscal 2021t. The consolidation of future acquired businesses could also contribute further to improving profit margins.

About iQSTEL Inc.:

iQSTEL Inc (OTC: IQST) (www.iQSTEL.com) is an American publicly traded company that provides advanced telecommunications, technology and fintech services for global markets, with a 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 relationships 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 customers: SMS, VoIP, 4G and 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, Cash Back, MNPA Mobile Number Portability App (Blockchain Platform) and Settlement and Payment Market (Blockchain Platform).

Safe Harbor Statement: Statements in this press 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 other statements regarding our future business 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 results could and do differ materially from what is expressed or anticipated in the forward-looking statements due to numerous factors. All forward-looking statements speak only as of the date of this press release and iQSTEL Inc. undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.

iQSTEL inc.

IR US Phone: +1-646-740-0907, IR Email: [email protected] www.iqstel.com

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SOURCE iQSTEL, Inc.

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