New York, NY, Sept. 02, 2021 (GLOBE NEWSWIRE) — iQSTEL, Inc. (OTCQB: IQST) today announced its Independent Board of Directors has instructed management to apply for OTCQX. The OTCQX application is part of iQSTEL’s overall strategy to uplist to Nasdaq.
Management and the Independent Board of Directors view the OTCQX certification as an important exercise to further prepare the company for an uplisting to Nasdaq. While advancing iQSTEL’s oversight and transparency practices in preparation for a Nasdaq application, an OTCQX certification is expected, at the same time, to add immediate value to shareholders.
OTCQX is the “platinum club” of companies quoted on OTCMarkets. The OTCQX includes banks, airlines and very large, multinational companies. It is an honor just to apply to join to this exclusive “club”.
OTCQX has requirements consistent with Nasdaq standards. For example, OTCQX companies are required to conduct annual shareholder meetings and make annual financial reports available to its shareholders at least 15 calendar days prior to such meetings.
Mr. Iglesias CEO and Chairman commented: “The company is making ongoing and steady progress toward a Nasdaq uplisting. Each interim milestone we make toward a Nasdaq uplisting adds immediate value for our shareholders. We are enthusiastic to advance our march toward a Nasdaq uplsting through the opportunity to join the OTCQX and build on our recent Board expansion to establish independence and the implementation of an Independent Audit committee.”
The Company continues in the focused execution of its business plan – launching new products and increasing sales and efficiency. Management has recently reorganized the company into two business divisions – B2B IQSTelecom and B2C EVOSS – in order to better engage customers and add value for shareholders. Both divisions execute operations independently in a manner that could be described as having two companies under one iQSTEL umbrella.
iQSTEL Inc (OTCQB: IQST) (www.iQSTEL.com) is a US-based publicly-listed company with an Independent Board of Directors offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 15 countries. The company provides services to the Telecommunications, Electric Vehicle (EV), Financial Services, Chemical and Liquid Fuel Distribution Industries. iQSTEL has 5 Business Divisions: Telecom, Electric Vehicle (EV), Fintech, Technology and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, Global Money One, IoT Labs and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, international fiber-optic connectivity for 5G, Cloud-PBX, OmniChannel Marketing, EV Batteries, EV Chargers, EV Battery Management System, EV IoT Connectivity, Mobile App For EV Connectivity, EV Dashboard Display, Visa/Mastercard Debit Card, Cryptocurrency Exchange Services, Money Remittance, Mobile Top Up, IoT Smart Gas Platform, IoT Smart Tank Platform, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace SPM (Blockchain Platform).
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.