First Electrical Autos Roll Off The Manufacturing Line
$IQST – iQSTEL Enters Electrical Car Market On Path To Nasdaq Uplisting
EVOSS – First Electrical Autos Roll Off The Manufacturing Line
New York, NY, Jan. 12, 2022 (GLOBE NEWSWIRE) — iQSTEL, Inc. (OTCQX: IQST) at this time launched the newest replace from the CEO, Leandro Iglesias in an ongoing sequence of updates narrating the corporate’s progress towards its beforehand introduced initiative to up-list on to Nasdaq within the first half of 2022. The replace at this time highlights the corporate’s latest electrical automobile manufacturing milestone. The CEO’s letter to shareholders is included in its entirety beneath:
Our strategic financing progress in December was quick and livid. On the heels of accelerating our 2021 income forecast to $64 million, we secured a $2.75 million funding bringing our shareholder fairness as much as meet Nasdaq’s itemizing necessities. We additionally executed time period sheet for a $60 million funding to assist our merger and acquisition goals over the subsequent three years (The phrases of the $60 million funding are contingent on our Nasdaq uplisting). The busines improvement exercise surrounding our strategic financing is ramping again in control within the new yr following the vacations and we anticipate new updates coming quickly main with a counter signature announcement on the $60 million time period sheet.
Within the meantime, we have now achieved one other main operational improvement milestone increasing our attain into the electrical automobile market.
We proceed to construct iQSTEL’s general mixed operations to serve an more and more cell and related world.
iQSTEL offers connectivity by its B2B iQSTelecom Division which incorporates our Telecommunications, Web of Issues, and Blockchain services.
iQSTEL offers mobility by its B2C EVOSS Division which incorporates our EV Bikes and Fintech Mastercard Ecosystem services.
At this time I’m happy to share with you that iQSTEL has now formally and tangibly entered the EV market with our first batch of EV Bikes having rolled of the manufacturing line.
The primary manufacturing run shall be delivery to Spain for distribution in Europe, the US, and Panama, for distribution in Latin America.
The guts of our EV Motorbike gross sales operations at this time shall be targeted on Latin America the place we are going to goal the alternative of the extensively adopted 125 cc combustion engine bikes. Our competitively priced, low upkeep, gasoline station unbiased EVOSS EV Motorbike is constructed to ship a appear and feel similar to a 125 cc combustion engine motorbike it’s designed to switch.
The roll out of the EVOSS EV Motorbike introduced at this time is only the start of our EV enterprise. Now we have extra EV’s being designed proper now. We’re additionally drawing on our deep general know-how background to develop EV disruptive applied sciences that can set our EV merchandise aside from the remainder of the EV business. We’re at the moment in discussions with sellers in Latin American and Spain and desirous to broaden these discussions – contact us at email@example.com.
Our tangible entry into the EV market, together with our ongoing income progress anticipated to succeed in $90 million this yr, and our shareholder fairness now assembly Nasdaq itemizing necessities, additional confirms my confidence within the potential of our share value to organically attain the required value for a Nasdaq uplisting.
iQSTEL Inc. (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly-listed firm holding an Unbiased Board of Administrators and Unbiased Audit Committee providing modern providers by its two enterprise divisions and every of them with unbiased manufacturers. The B2B division, Model IQSTelecom providing Telecommunications, Web of Issues, Know-how and Blockchain platforms providers, the goal marketplace for the B2B division is International Markets. The B2C division, Model EVOSS providing EV Electrical Bikes, Fintech Ecosystem, the goal marketplace for this enterprise division is Latin America, and the Spanish audio system within the USA. The corporate has presence in 15 international locations, and its services are utilized in a number of industries as Telecommunications, Electrical Car (EV), Monetary Providers, Chemical and Liquid Gas Distribution Industries. IQSTEL introduced on February 17th 2021 that it grew to become a Debt Free Firm and is now utterly debt free with no Convertible Notes, Warrants, Promissory Notes or Settlement Agreements from its Steadiness Sheet.
Protected Harbor Assertion: Statements on this information launch could also be “forward-looking statements”. Ahead-looking statements embody, however are usually not restricted to, statements that categorical our intentions, beliefs, expectations, methods, predictions or every other statements referring to our future actions or different future occasions or circumstances. These statements are based mostly on present expectations, estimates and projections about our enterprise based mostly, partly, on assumptions made by administration. These statements are usually not ensures of future efficiency and contain dangers, uncertainties and assumptions which might be troublesome to foretell. Subsequently, precise outcomes and outcomes could, and are more likely to, differ materially from what’s expressed or forecasted in forward-looking statements attributable to quite a few elements. Any forward-looking statements communicate solely as of the date of this information launch and iQSTEL Inc. undertakes no obligation to replace any forward-looking assertion to mirror occasions or circumstances after the date of this information launch. This press launch doesn’t represent a public supply of any securities on the market. Any securities provided privately is not going to be or haven’t been registered underneath the Act and will not be provided or offered in the US absent registration or an relevant exemption from registration necessities.