NEW YORK, NY, April 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC PINK: IQST) today issued a letter to shareholders.
LETTER TO OUR SHAREHOLDERS
Dear Shareholders:
On behalf of our management team, I would like to present this letter to shareholders of our Company in order to review the most relevant issues related to our commercial operations; financial results for the year ended December 31, 2018 disclosed in the Form 10-K recently filed; and the recent acquisition of Swisslink, among other relevant information.
Operative and Commercial Highlights:
During the year 2018 all the members of our team worked hard to achieve their goals and contribute to the growth and strengthening of our organization. On that regard I would like to highlight some important achievements:
Corporate Financial Highlights:
Acquisition of Swisslink Carrier AG:
We have executed a Purchase Agreement, subject to some closing conditions, for the acquisition of the 51% of SwissLink Carrier AG (www.swisslink-carrier.com) for a total purchase price of $500,000. Details of this transaction can be found in the Form 8-K filed in April 4, 2019 (www.otcmarkets.com/filing/html?id=13344719&guid=3ti3UKWw1sIW93h).
This is a very strategic acquisition that we expect represents an increase of approximately $6 Million in revenue and approximately $200,000 in Ebitda on yearly basis, increasing our Company business value in approximately 40%. Combining Etelix and SwissLink revenues we should achieve approximately $23 Million on a yearly basis.
There are still pending some activities both parties have to complete in order to fulfill the closing conditions; which we estimate will take place within the next 90 days.
Reg-A offering status:
A new amendment of the offering statement is being prepared while this letter is being written in response of few comments received from reviewers at the Securities and Exchange Commission. We are moving forward in our offering and are still under the timing we had estimated for the Reg-A approval and implementation.
FY-2019 challenges:
For further details about the information of the 10-K filed, the acquisition of Swisslink, Reg-A offering, or any question related iQSTEL, Etelix, Swisslink, please feel free to contact us at investors@iqstel.com.
We would like to express our appreciation for your trust in iQSTEL, and we look forward to building a World-Class Telecommunications and Internet Services Corporation with you onboard.
Best regards,
Leandro Iglesias
President/CEO
About iQSTEL Inc.:
iQSTEL (OTC: IQST) www.iQSTEL.com is a technology company offering a wide array of services to the Telecommunications Industry. These include services to International Long-Distance Telecommunications Operators (ILD Wholesale), Retail and Corporate markets (ILD Retail), Submarine Fiber Optic Network capacity, Satellite Communications services, Mobile Virtual Network Operator (MVNO) services, Internet of Things (IoT) technology solutions, Data Center facilities capacity leasing, and Blockchain solutions for the Telecommunications industry. iQSTEL fully owns Etelix.com USA LLC (www.etelix.com), a Federal Telecommunications Commission (FCC) licensed, international telecommunication carrier based in Miami, Florida.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial presence in North America, Latin America and Europe. Enabled by its 214-license granted by the Federal Communications Commission (FCC), Etelix provides International Long-Distance voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was founded in 2008 and has been profitable since inception.
Safe Harbor Statement: Statements in this news 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 any other statements relating to our future activities 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 outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
iQSTEL Inc.
IR US Phone: 646-740-0907
IR Email: investors@iqstel.com