<SEC-DOCUMENT>0001078782-21-000610.txt : 20210629
<SEC-HEADER>0001078782-21-000610.hdr.sgml : 20210629
<ACCEPTANCE-DATETIME>20210628184639
ACCESSION NUMBER:		0001078782-21-000610
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210628
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20210629
DATE AS OF CHANGE:		20210628

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:		211055086

	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>f8k062821_8k.htm
<DESCRIPTION>FORM 8K CURRENT REPORT
<TEXT>
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<TITLE>Form 8K Current Report</TITLE>
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<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 EXCHANGECOMMISSION</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): June 28, 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 style='font:10pt Times New Roman;margin:0'>Registrant&#8217;s telephone number, including area code: <FONT style='border-bottom:1px solid #000000'>(954) 951-8191</FONT></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse><TR style=height:7.2pt><TD valign=top style=width:507.6pt><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>
</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'>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><TD valign=top style=width:32.4pt><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><TD valign=top style=width:32.4pt><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><TD valign=top style=width:32.4pt><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><TD valign=top style=width:32.4pt><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><TD valign=top style=width:32.4pt><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><TD valign=top style=width:32.4pt><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><TD valign=top style=width:32.4pt><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'><B>SECTION 5 &#8211; Corporate Governance and Management </B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><B>Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Effective June 28, 2021, we have appointed Messrs. Raul A Perez, Jose Antonio Barreto and Italo R. Segnini as members of our Board of Directors. We have also appointed Leandro Iglesias as Chairperson and Alvaro Quintana as Secretary to the Board. </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:10pt Times New Roman;margin:0'><B>Raul A Perez (age 69)</B></P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>From December 1, 2014 to present, Mr. Perez serves as CFO of Deerbrook Family Dentistry, PC, Dental Practice in Humble, Texas. From November 1, 2017 to January 31, 2019, he served as Senior Accountant to Principrin School, PC, Day Care in Houston, Texas. </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Mr. Perez has been in finance for more than 40 years, starting in 1970 as analyst in treasury and finance departments and progressively assuming different positions up to corporate treasurer for large corporations. He served for Sudamtex of Venezuela, C.A for 5 years and Polar Brewery in Caracas, Venezuela for 10 year. Beginning in 2000, he accepted a position as a Director of the Security and Exchange Commission of Venezuela to have the surveillance of Venezuelan stock market participants. Also, in 2004 he completed the requirements and received his certification as a Venezuelan Investment Advisor. Later, as an independent contractor for three years, he was selected as the Corporate Compliance Officer for an especially important stock market broker dealer in Venezuela, Activalores Casa de Bolsa, in which he developed the Compliance Unit and manuals required by local and international anti money laundering laws. He also taught Advanced Institute of Finance (IAF) in Caracas being a professor of Corporate Finance and Managerial Accounting for 5 years. </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'>Mr. Perez has a Bachelor&#8217;s degree in accounting (1976), and MBA Finance (1982), gave me the overall knowledge of finance and how to plan, start up, run, and control a business.</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 selected Mr. Perez to serve as an independent director because of his education, skills and experience in finance and his regulatory history. </P>
<P style='font:10pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><B>Jose Antonio Barreto (age 62)</B></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'>From 2006 to the present, Mr. Barreto has been Chief Business Development Officer of Xpectra Remote Management / Mexico. There he was in charge of directing all aspects of account development and sales effort to close specific private and government opportunities and developing strategic accounts in Mexico and the LATAM region. From 2020 to present, he has been an advisor to our Board of Directors.</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'>Mr. Barreto has more than 30 years of experience working in telecommunications and technology companies. He has been directly responsible of leading the business development and operational in several telecommunication and technology companies&#8217; acquisition activity, with the responsibility of leading the technical, operation and financial analysis. Over the last 14 years, Jose Antonio has been the North and Central American leader, spanning from Mexico to Panama, in the development of commercial processes in the technology security field, artificial intelligence, Internet of Things (IoT) platforms, as well as cutting edge technology solutions and software systems.</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'>He studied Electronic Engineering at the Universidad Sim&#243;n Bolivar followed by a Master of Science Degree in Electrical and Computer Engineering at Rice University. He also completed the Master in Telecommunications Management offered by Universidad Simon Bolivar and the Telecom SudParis Institute.</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 selected Mr. Barreto to serve as an independent director because of his education, skills and experience in technology companies.</P>
<P style='font:10pt Times New Roman;margin:0'> &nbsp;</P>
<P align=justify style='font:10pt Times New Roman;margin:0'><B>Italo R. Segnini (age 55)</B></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'>From March 2020 to the present, Mr. Segnini has been serving as Global Carrier Partnership Director of Sierra Wireless. From June 2019 to February 2020, he served as an Independent Telecom Consultant. From 2017 to 2019, he served as Director of International Carrier Business for Televisa Telecom. From 2012 to 2019, he served as Director International Carrier Business for Millicom. </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>
<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'>Mr. Segnini is a long time Telecommunication industry professional who has had high level positions at Global Tier Ones for more than 20 years, Telefonica, Millicon and Televisa, Sierra Wireless to mention a few. Mr. Segnini has extensive executive experience in the Telecom areas like Voice, A2P, SMS, Data, Roaming, Mobility Services, B2B, MNO, MVNO, IoT, Interconnection, etc., and a solid business performance record spanning multiple functions including International commercial negotiations, management, sales, business development, sales, regulatory and operations. Italo R. Segnini holds a Juris Doctor degree from the Andres Bello Catholic University, a Telecommunication Masters Degree from Madrid Comillas Pontifical University and an MBA from IESA Business School. </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 selected Mr. Segnini to serve as an independent director because of his education, skills and experience in telecommunication companies.</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 five year employment history for Messrs. Iglesias and Quintana are contained in our annual report on Form 10-K filed with the SEC on April 15, 2021.</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'>There were no arrangements or understandings between Messrs. Messrs. Perez, Barreto and Segnini and any other persons pursuant to which they were selected as members of our Board of Directors. </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'>There are no transactions in which Messrs. Perez, Barreto or Segnini have an interest requiring disclosure pursuant to Item 404(a) of Regulation S-K. The transactions requiring disclosure pursuant to Item 404(a) of Regulation S-K for Messrs. Iglesias and Cardona are contained in our annual report on Form 10-K filed with the SEC on April 15, 2021.</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'>As directors, Messrs. Messrs. Perez, Barreto and Segnini will be entitled to participate in our Director Compensation Plan, which we have revised recently as follows:</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'>All Directors shall receive reimbursement for reasonable travel expenses incurred to attend Board and committee meetings.</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'>Effective on June 1, 2021 and thereafter, all Directors shall be compensated monthly with 4,000 shares of common stock cash of $1,000 for their service as Directors. The Chairman and Secretary of the Board shall receive an additional $2,000 per month in addition to the Director compensation. </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 lieu of the cash compensation set forth above, each Director may elect to receive shares of the Corporation's Common Stock equal to the total cash compensation divided by the average market value of the Company's Common Stock during the last 10 trading days and applying a discount of 25%.&#8221;</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=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 June 28, 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'>3</P>
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