<SEC-DOCUMENT>0001078782-19-000333.txt : 20191211
<SEC-HEADER>0001078782-19-000333.hdr.sgml : 20191211
<ACCEPTANCE-DATETIME>20190415121702
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001078782-19-000333
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			iQSTEL Inc
		CENTRAL INDEX KEY:			0001527702
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				452808620
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		300 ARAGON AVENUE, SUITE 375
		CITY:			CORAL GABLES
		STATE:			FL
		ZIP:			33134
		BUSINESS PHONE:		(954) 951-8191

	MAIL ADDRESS:	
		STREET 1:		300 ARAGON AVENUE, SUITE 375
		CITY:			CORAL GABLES
		STATE:			FL
		ZIP:			33134

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PURESNAX INTERNATIONAL, INC.
		DATE OF NAME CHANGE:	20151124

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PURE SNAX INTERNATIONAL, INC.
		DATE OF NAME CHANGE:	20150813

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	B-MAVEN, INC.
		DATE OF NAME CHANGE:	20110810
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<TITLE>SEC Response Letter</TITLE>
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<DIV style=margin-left:36pt;width:540pt><P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>IQSTEL Inc.</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>300 Aragon Avenue, Suite 375</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt><B>Coral Gables, FL 33134</B></FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'><B><I>Via EDGAR </I></B></FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>April 11, 2019</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>United States Securities and Exchange Commission</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>100 F Street, N.E. Mailstop 3720</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Washington D.C., 20549-7010</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Attention: Paul Fisher</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;color:#000000'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'><FONT style=font-size:10pt><B>Re: </B></FONT></KBD><KBD style=margin-left:36pt></KBD><FONT style=font-size:10pt><B>IQSTEL Inc.</B></FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'><FONT style=font-size:10pt><B>Offering Statement on Form 1-A/A</B></FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'><FONT style=font-size:10pt><B>Filed on March 28, 2019</B></FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0;text-indent:36pt;color:#000000'><FONT style=font-size:10pt><B>File no. 024-10950</B></FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Dear Mr. Fisher:</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>I write on behalf of IQSTEL Inc., (the &#8220;Company&#8221;) in response to Staff&#8217;s letter of April 03, 2019, by Division of Corporation Finance Office of Telecommunications, of the United States Securities and Exchange Commission (the &#8220;Commission&#8221;) regarding the above-referenced Offering Statement on Form 1-A/A, filed March 28, 2019 (the Comment Letter&#8221;). </FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Paragraph numbering used for each response corresponds to the numbering used in the Comment letter.</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Amended Form 1-A Filed on March 28, 2019</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Cover Page</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>1. We note your response to prior comment 1. Please further revise Part I, Item 4 to reflect that the number of securities offered is 2,450,000, as opposed to 2,000,000. Also disclose that the portion of the aggregate offering price attributable to securities being offered on behalf of selling securityholders is $2,700,000 and the total (the sum of the aggregate offering price and aggregate sales in the four preceding paragraphs) is $14,700,000. Lastly, revise your responses in Item 4 regarding sales commissions and service providers to be consistent with your response to prior comment 4 that you do not have a sales agent as part of the primary offering.</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>In response to this comment, we have updated Part I, Item 4 accordingly.</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><A name=_Hlk5623357 /><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Exhibits</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>2. Portions of the form of subscription agreement you filed as an exhibit do not appear to relate to the offering or the company described in your offering statement. For example, it refers to the receipt of a &quot;Prospectus&quot; by the subscriber and that the Company has only recently been incorporated. There are also no references to the investor or investment limitations of your Tier 2 Regulation A offering. Please advise or revise. Lastly, please remove the subscriber representation that &quot;he is not relying upon any representations by the Company or its representatives other than those contained in the Prospectus.&quot;</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>In response to this comment, we have made the proper changes and have included a new version of the subscription agreement.</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Financial Statements</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'>Financial Statements, page F-1</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>3. Please update your financial statements pursuant to Part F/S(b)(3)(B), (b)(5) and (c) of Form 1-A.</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>In response to this comment, we have updated the financial statements by including those as of December 31, 2017 and December 31, 2018; corresponding to the company&#8217;s fiscal year end. With this information we have also updated the accompanying notes to the financial statements; and management discussion and analysis of the Results of Operations for the Years Ended December 31, 2018 and 2017.</FONT></P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>We have also updated the following information, showing data to the most recent relevant date:</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Number of shares of common stock outstanding before the offering of common stock.</FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Number of shares of common stock outstanding after the offering of common stock.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Risk Factors Related to the Business of the Company</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Courier New;margin-left:-18pt'>&#111;</KBD><FONT style=font-size:10pt>Because our auditor has issued a going concern opinion regarding our company, there is an increased risk associated with an investment in our company.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:72pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:72pt;margin-right:-4.5pt'><KBD style='position:absolute;font:10pt Courier New;margin-left:-18pt'>&#111;</KBD><FONT style=font-size:10pt>Our customers, could experience financial difficulties, which could adversely affect our revenues and profitability if we experience difficulties in collecting our receivables.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Risks Related to the Offering and the Market for our Stock</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:72pt'><KBD style='position:absolute;font:10pt Courier New;margin-left:-18pt'>&#111;</KBD><FONT style=font-size:10pt>Investors in this offering will experience immediate and substantial dilution.</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:72pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Etelix Operational and Commercial Highlights from January 2018 to December 2018</FONT>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Dilution</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:36pt'><KBD style='position:absolute;font:10pt Symbol;margin-left:-18pt'>&#61623;</KBD><FONT style=font-size:10pt>Convertible Securities</FONT>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Sincerely,</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style='font-size:10pt;border-bottom:1px solid #000000'><I>/s/ Leandro Iglesias</I></FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'><FONT style=font-size:10pt>Leandro Iglesias</FONT></P>
<P align=justify style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
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