<SEC-DOCUMENT>0001078782-21-000071.txt : 20210122
<SEC-HEADER>0001078782-21-000071.hdr.sgml : 20210122
<ACCEPTANCE-DATETIME>20210121184510
ACCESSION NUMBER:		0001078782-21-000071
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210121
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210122
DATE AS OF CHANGE:		20210121

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55984
		FILM NUMBER:		21543233

	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>8-K
<SEQUENCE>1
<FILENAME>f8k012121_8k.htm
<DESCRIPTION>FORM 8K CURRENT REPORT
<TEXT>
<HTML>
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<TITLE>Form 8K Current Report</TITLE>
</HEAD>
<BODY>
<DIV style=margin-left:36pt;width:540pt><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>WASHINGTON, D.C. 20549</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>FORM 8-K</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>CURRENT REPORT</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>PURSUANT TO SECTION 13 OR 15(d) OF</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>Date of Report (Date of earliest event reported): January 19, 2021</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>iQSTEL</B><B> </B><B>Inc.</B></FONT></P>
<P align=center style='font:10pt Times New Roman;margin:0'>(Exact name of registrant as specified in its charter)</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse;width:100%><TR style=height:7.2pt><TD valign=top style=width:37.22%><P align=center style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>Nevada</B></FONT></P>
</TD><TD valign=top style=width:32.86%><P align=center style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>000-55984</B></FONT></P>
</TD><TD valign=top style=width:29.92%><P align=center style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>45-2808620</B></FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:37.22%><P align=center style='font:10pt Times New Roman;margin:0'>(State or other jurisdiction of incorporation)</P>
</TD><TD valign=top style=width:32.86%><P align=center style='font:10pt Times New Roman;margin:0'>(Commission File Number)</P>
</TD><TD valign=top style=width:29.92%><P align=center style='font:10pt Times New Roman;margin:0'>(I.R.S. Employer Identification No.)</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse;width:100%><TR style=height:7.2pt><TD valign=top style=width:69.12%><P align=center style='font:10pt Times New Roman;margin:0'><B>300 Aragon Avenue, Suite 375</B></P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>Coral</B><B> </B><B>Gables,</B><B> </B><B>FL</B><B> </B><B>33134</B></FONT></P>
</TD><TD valign=top style=width:30.88%><P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>33134</B></FONT></P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:69.12%><P align=center style='font:10pt Times New Roman;margin:0'>(Address of principal executive offices)</P>
</TD><TD valign=top style=width:30.88%><P align=center style='font:10pt Times New Roman;margin:0'>(Zip Code)</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>Registrant&#8217;s telephone number, including area code: <FONT style='border-bottom:1px solid #000000'><B>(954)</B><B> </B><B>951-8191</B></FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'>_______________________________________________</P>
<P align=center style='font:10pt Times New Roman;margin:0'>(Former name or former address, if changed since last report)</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>[ &nbsp; ]</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>[ &nbsp; ]</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>[ &nbsp; ]</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
</TD></TR>
<TR style=height:7.2pt><TD valign=top style=width:40.5pt><P style='font:10pt Times New Roman;margin:0'>[ &nbsp; ]</P>
</TD><TD valign=top style=width:484.2pt><P style='font:10pt Times New Roman;margin:0'>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</P>
<P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Emerging growth company [ &nbsp;&nbsp;]</P>
<P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ &nbsp;&nbsp;]</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 style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>SECTION 2 &#8211; FINANCIAL INFORMATION</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'><B>Item 2.02</B></KBD><KBD style=margin-left:72pt></KBD><B>Results of Operations and Financial Condition.</B>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>On January 19, 2021, we issued a press release letter to our shareholders concerning various matters.</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>The press release is furnished with this Current Report on Form 8-K as Exhibit 99.1. The information furnished under this Item 2.02 and Item 9.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any registration statement or other filing under the Securities Act of 1933, as amended, regardless of any general incorporation by reference language in such filing, except as shall be expressly set forth by specific reference in any such filing.</P>
<P style='font:10pt Times New Roman;margin:0'><A name=jump_exp_6 />&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>SECTION 9 &#8211; FINANCIAL STATEMENTS AND EXHIBITS</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:0pt'><B>Item 9.01</B></KBD><KBD style=margin-left:72pt></KBD><B>Financial Statements and Exhibits. </B>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;text-indent:-72pt;margin-left:72pt'><B> </B>&nbsp;</P>
<TABLE style=border-collapse:collapse><TR><TD valign=top style=width:77.4pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>Exhibit</B><B> </B><B>No.</B></FONT></P>
</TD><TD valign=top style=width:413.5pt><P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>Description</B></FONT></P>
</TD></TR>
<TR><TD valign=top style=width:77.4pt><P style='font:10pt Times New Roman;margin:0'><FONT style='color:#0000FF;border-bottom:1px solid #0000FF'><A href=f8k012121_ex99z1.htm style=text-decoration:none>99.1</A></FONT></P>
</TD><TD valign=top style=width:413.5pt><P style='font:10pt Times New Roman;margin:0'>Press release, dated January 19, 2021</P>
</TD></TR>
</TABLE>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SIGNATURES</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>iQSTEL Inc.</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><I>/s/</I><I> </I><I>Leandro</I><I> </I><I>Iglesias</I></FONT></P>
<P style='font:10pt Times New Roman;margin:0'>Leandro Iglesias</P>
<P style='font:10pt Times New Roman;margin:0'>Chief Executive Officer</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Date January 21, 2021</P>
<HR style='border:0;height:0;width:0;margin:14pt 0 0 0'><P align=center style='font:10pt Times New Roman;margin:0'>2</P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f8k012121_ex99z1.htm
<DESCRIPTION>EXHIBIT 99.1 PRESS RELEASE, DATED JANUARY 19, 2021
<TEXT>
<HTML>
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<TITLE>Exhibit 99.1 Press release, dated January 19, 2021</TITLE>
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<DIV style=margin-left:36pt;width:540pt><P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>IQST &#8211; iQSTEL Announces CEO Shareholder Letter Discussing Revenue Growth And Capital Structure Improvements </B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>New York, NY &#8211; January 19, 2021 &#8211; iQSTEL, Inc. (USOTC: IQST) today published a letter from the company CEO, Leandro Jose Iglesias, to shareholders. The letter is included in its entirety, below:</P>
<P align=center style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:10pt Times New Roman;margin:0'><B>SHAREHOLDER LETTER</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>January 19<SUP>th</SUP>, 2021</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Dear Shareholders,</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>While 2020 was marked by the COVID-19 pandemic, with the closure of companies and countries completely paralyzed, iQSTEL was able to advance in the development of its business plan, reaching a $44.8 Million Preliminary Revenue Benchmark for FY-2020, and having a $60.5 Million Forecast Revenue for FY-2021. This was made possible by having a clearly defined vision and execution plan.</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'>In the course of 2020, we incorporated three new subsidiaries into our business, with the acquisition of Qglobal, LLC and IoT Labs, LLC, and the creation of Global Money One, LLC. These three new companies, combined with our existing subsidiaries (Etelix, SwissLink and ItsBchain) create a portfolio of products and services well beyond just in the telecom arena.</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'>We have also diversified our sources of revenue. Until 2019, 100% of the revenue came from the VoIP wholesale services business. That changed in 2020 where only 44% of our revenue came from VoIP wholesale services and 56% came from SMS services. Revenue diversification is a fundamental part of our business plan, and we expect this to continue in 2021 with:</P>
<P 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'>&#183;</KBD>The successful launch of the Internet of Things (IoT) products, where we recently won the IoT Breakthrough Award as the &#8220;Appliance of the Year&#8221;.&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'>&#183;</KBD>Our entry into the Fintech arena with the release of our Visa Debit Card services through the recent agreement we signed with DTone, which also allows us to manage international remittances and top up off mobile services in 42 countries across the World.&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>We are focused on a continuous process of value creation for our shareholders, customers, suppliers, and employees. In this sense, our business plan includes gathering all the elements that will allow us to complete a future up-listing to a national exchange.</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'>With that purpose in mind, we have been working on improving our balance sheet. Recently, we announced the discharge of all convertible notes and warrants, and a 48% reduction in total debt. This will be reflected in our first quarter of 2021 financial report.</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'>To mitigate future dilution over the next three years, the company is alternatively pursuing a Reg A registered fund-raising strategy to avoid the potential need of requiring convertible notes or other forms of toxic financing. For this reason, the company summited to the SEC an extension for selling 56 Million shares within the Reg A offering statement (originally qualified by the SEC in December 2019).</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'>At the time the Company submitted the Reg A extension, the 10 cents per share price seemed appropriate. Since then, we have seen a market reaction to recent business progress and a corresponding share price increase in turn closing the gap between our business value and our market cap. </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Here is a recap on the most relevant milestones over the previous three months:</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:54pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>1)</KBD>Signing of a LOI with ALTERNET (ALYI) to develop an IoT Smart EV device to enter the Electric Vehicles Supply Market (Technology Division).&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>2)</KBD>Signing of a MOU with PayVMS and the incorporation of a new subsidiary, Global Money One, for the development of our Visa Debit Card (Fintech Division).&nbsp;</P>
<P 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:54pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>3)</KBD>Execution of the Agreement with DTone for the International Remittance and Top Up Mobile services worldwide. These services will be available through our Visa Debit Card user (Fintech Division).&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0;margin-left:54pt'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0;margin-left:54pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>4)</KBD>Our Telecom Business surpassed $5 million in monthly revenue for three consecutive months, setting Monthly and Quarterly Revenue Records (Telecom Division).&nbsp;</P>
<P 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:54pt'><KBD style='position:absolute;font:10pt Times New Roman;margin-left:-18pt'>5)</KBD>Our IoT Smart Gas winning the &#8220;Appliance of the Year&#8221; (Technology Division) award as an IoT Breakthrough.&nbsp;</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 style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>We have disclosed within our Reg-A filing, that the use of funds is for servicing debt and funding acquisitions in FY -2021. In conjunction with the recently announced convertible and overall debt reduction, the Reg-A qualification and pursuant fundraising process can be primarily dedicated to funding acquisitions. </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'>The Reg-A financial instrument for raising funds allows the company to sell registered shares, but does not mandate the sale of registered shares. We plan to only sell shares in the Reg-A as needed. Furthermore, the Company has reserved within the Reg A some mechanisms to adjust the offering share price. We are evaluating all available options at this time.</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'>Over the last year our Management Team has shown impressive commitment in executing the business plan, particularly in successfully completing the acquisitions. In further proof of their ongoing commitment to and confidence in the overall long-term potential of the Company, senior management decided to convert 21 Million common shares (valuated in +$5.6 Million at Friday&#8217;s closing price), into Series B Preferred shares, with a <I>1-year Lock-Up and an additional year Leak Out.</I></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'>The Company is in the middle of executing essential activities, which will be announced over the next couple of weeks. We anticipate these new milestones will further solidify shareholder confidence in our overall Business and Corporate direction. </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'>Please send your questions and thoughts to our ambassador FB group and to investors@iqstel.com.</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Respectfully yours,</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>Leandro Jose Iglesias</P>
<P style='font:10pt Times New Roman;margin:0'>iQSTEL Inc. (www.iqstel.com)</P>
<P style='font:10pt Times New Roman;margin:0'>President &amp; CEO</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>About iQSTEL Inc (Updated):</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>iQSTEL Inc (OTC: IQST) (<FONT style='border-bottom:1px solid #000000'>www.iQSTEL.com</FONT>) is a US-based publicly-listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Financial Services, Liquid Fuel Distribution and Electric Vehicle Industries. iQSTEL has 3 Business Divisions: Telecom, Technology and Fintech, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, itsBchain and Global Money One. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G &amp; 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Gas Platform, IoT Smart Electric Vehicle Platform, Mobile Number Portability Application MNPA (Blockchain), Settlement &amp; Payments Marketplace (Blockchain), Visa Debit Card, Money Remittance, and Pay Mobile Phone Services among others.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About Etelix.com USA LLC (iQSTEL&#180;s Telecom Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>Etelix.com USA LLC (<FONT style='border-bottom:1px solid #000000'>www.etelix.com</FONT>) is a 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.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About SwissLink Carrier AG (iQSTEL&#180;s Telecom Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>SwissLink Carrier AG (<FONT style='border-bottom:1px solid #000000'>www.swisslink-carrier.com</FONT>) is a 51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a Switzerland based international Telecommunications Carrier founded in 2015 providing international VoIP connectivity worldwide, with commercial presence in Europe, CIS and Latin America. SwissLink Carrier AG is a Swiss licensed Operator, having a domestic Interconnect with Swisscom, allowing their international Carrier Customers direct terminations via SwissLink into all Switzerland Fix &amp; Mobile Networks. Since the takeover from Swissphone in November 2018 and the rename into SwissLink, they operate on a profitable level.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About QGlobal SMS LLC (iQSTEL&#180;s Telecom Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>QGlobal SMS LLC (<FONT style='border-bottom:1px solid #000000'>www.qglobalsms.com</FONT>) is a 51% owned subsidiary of iQSTEL Inc. QGlobal SMS is a USA based company and a commercial brand founded in 2020 specialized in international and domestic SMS termination, with emphasis on the Applications to Person (A2P) and Person to Person (P2P) for Wholesale Carrier Market and Corporate Market in US. QGlobal SMS has commercial presence in US, Mexico, Latin America, EMEA (Europe, Middle East, Asia) and Africa, through our SMS service providers based in Austin, TX and Miami, FL Our Austin-based SMS service provider is specialized in the SMS traffic exchange between US and Mexico, and our Miami-based SMS service provider is focused in the development of Latin America and the rest of the world. QGlobal SMS has robust international interconnection with Tier1 SMS Aggregators, guarantying its customers high quality and low termination rates, over more than 100 countries worldwide.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About Alcyon Cloud SMS S.A.S, Commercial Brand SMSDirectos.com (iQSTEL&#180;s Telecom Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>Alcyon Cloud SMS S.A.S. (Commercial Brand <FONT style='border-bottom:1px solid #000000'>SMSDirectos.com</FONT>), is a whole subsidiary of QGlobal SMS, a Colombian-based Application and Content Provider. Alcyon Cloud SMS (<FONT style='border-bottom:1px solid #000000'>SMSDirectos.com</FONT>) is registered with the Secretary of Information and Communication Technology (ICT) in Colombia, offering services to government, enterprises, small and medium business, as well as end-users. Using SMSDirectos&#8217; existing network, they plan to expand services from SMS to offer omnichannel products and services such as: SMS, Emails, RCS (Rich Communications Services), Social Media Channels (Whats App, Messenger, etc), WebRTC (Web Real-Time Communication), VoIP (IP-PBX, SIP Trunking) ChatBots (Artificial Intelligence Based), SMS to Email, and Email to SMS.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About IoT Labs MX SAPI (iQSTEL&#180;s Technology Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>IoT Labs MX SAPI (<FONT style='border-bottom:1px solid #000000'>www.iotlabs.mx</FONT>), a subsidiary of iQSTEL Inc, is an Internet of Things (IoT) Mexican technology development company, creator of the &#8220;IoT Smart Gas&#8221; Platform and Application. The IoT Smart Gas platform www.iotsmartgas.com consists of an IoT field device installed on the LP gas tank (adaptable to virtually any gas or liquid storage tank) and, thanks to the Internet of Things (IoT) technology via Sigfox or GSM network connectivity, allows remote managed and improved logistic processes of refilling, usage tracking and tank monitoring in real-time by the Smart Gas mobile app. The new GSM tracking feature allows for mobile use including ground, air, and sea tank monitoring.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About itsBchain LLC (iQSTEL&#180;s Technology Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>itsBchain LLC (<FONT style='border-bottom:1px solid #000000'>www.itsBchain.com</FONT>) is a 75% owned subsidiary of iQSTEL Inc. itsBchain is a blockchain technology developer and solution provider, with a strong focus on the telecom sector. The company is the final stage of development of a series of blockchain solutions aimed at using the blockchain ledger and smart contract solutions to enable more efficiency, quickness in execution and fraud-prevention in the telco industry. Specifically, the company is developing a solution that will enable users and carriers to transfer mobile phone numbers with just a few clicks, allowing users and carriers the ability to transfer retail users from one mobile carrier to another instantly. Additionally, the company is finalizing a carrier-grade marketplace solution to procure payments between carriers for cross-traffic of VoIP, SMS and data realtime as traffic is crossed between carriers. This marketplace will allow for instant payment settlement as well as the prevention of fraud between carriers.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>About Global Money One Inc (iQSTEL&#180;s Fintech Division):</B></P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>Global Money One Inc. (<FONT style='border-bottom:1px solid #000000'>www.GlobalMoneyOne.com</FONT>) is a 75% owned subsidiary of iQSTEL Inc. Global Money One Inc is a Miami, Florida-based Fin-Tech company that uses a blend of industry expertise, state-of-the-art technology and compliance requirements to create disruptive solutions that deliver control, security and real-time payments and innovative Financial capabilities with reduced cost for consumers, specially to the unbanked, underbanked and underserved segments of today&#8217;s society. Our portfolio of services will include a Prepaid VISA MoneyOne Card (<FONT style='border-bottom:1px solid #000000'>www.visamoneyone.com</FONT>) expected to enable customers to make purchases in stores and online, withdraw cash at ATMs or receive cash back when using it to make a purchase, recharge prepaid mobile phone service and send money domestically or internationally (+ 40 countries). The VISA MoneyOne Card is expected to also facilitate the deposit of funds into bank accounts, Remote Deposit Capture (RDC) by mobile phone, bill payments, rewards, and digital gift cards. The VISA MoneyOne is the new and freedom financial world wallet expected launch in early Q2 2021.</P>
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<P align=justify style='font:10pt Times New Roman;margin:0'>Safe Harbor Statement: Statements in this news release may be &quot;forward-looking statements&quot;. 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.</P>
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<P style='font:10pt Times New Roman;margin:0'><B>iQSTEL Inc.</B></P>
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<P style='font:10pt Times New Roman;margin:0'>IR US Phone: 646-740-0907, IR Email: <FONT style='border-bottom:1px solid #000000'>investors@iqstel.com</FONT></P>
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<P style='font:10pt Times New Roman;margin:0'>Source: iQSTEL Inc. and its subsidiaries:</P>
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<P style='font:10pt Times New Roman;margin:0'>www.iqstel.com; www.etelix.com; www.qglobalsms.com; www.swisslink-carrier.com; www.smsdirectos.com; www.iotlabs.mx; www.iotsmartgas.com; www.iotsmartev.com: www.itsBchain.com; www.globalmoneyone.com; www.visamoneyone.com </P>
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