<SEC-DOCUMENT>0001663577-25-000092.txt : 20250402
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<ACCEPTANCE-DATETIME>20250402161343
ACCESSION NUMBER:		0001663577-25-000092
CONFORMED SUBMISSION TYPE:	S-1/A
PUBLIC DOCUMENT COUNT:		18
FILED AS OF DATE:		20250402
DATE AS OF CHANGE:		20250402

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			iQSTEL Inc
		CENTRAL INDEX KEY:			0001527702
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		ORGANIZATION NAME:           	06 Technology
		EIN:				452808620
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-284357
		FILM NUMBER:		25804632

	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>
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<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Washington, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>FORM <span id="xdx_905_edei--DocumentType_c20240101__20241231_zjrVpTWArSN8"><ix:nonNumeric contextRef="From2024-01-01to2024-12-31" id="Fact000010" name="dei:DocumentType">S-1/A</ix:nonNumeric></span></b></p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-size: 14pt"><b>Amendment No.
1</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OF 1933</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address and telephone number of principal executive
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>The Corporate Place, Inc.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>601 E. Charleston Blvd. Ste. 100</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Las Vegas, NV 89104</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Phone: (877) 786-8500</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, address and telephone number of agent for service)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><i>With copy to:</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Scott Doney, Esq.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>The Doney Law Firm</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>4955 S. Durango Dr. Ste. 165</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Las Vegas, NV 89113</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Phone: (702) 982-5686</b>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><b>Approximate date of commencement
of proposed sale to the public:</b>&#160;As soon as practicable after the effective date of this Registration Statement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, check the following box. </span><span style="font-family: Segoe UI Symbol,sans-serif">&#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">If
this form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. </span><span style="font-family: Segoe UI Symbol,sans-serif">&#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">If
this form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering. </span><span style="font-family: Segoe UI Symbol,sans-serif">&#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">If
this form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering. </span><span style="font-family: Segoe UI Symbol,sans-serif">&#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging
growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting
company&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;<span style="font-family: Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif">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 7(a)(2)(B) of the Securities Act. </span><span style="font-family: Segoe UI Symbol,sans-serif">&#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 18.35pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.25in"><b>The Registrant hereby
amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file
a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section
8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Commission, acting pursuant
to said Section 8(a), may determine.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><b>&#160;</b></p>


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<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; color: red"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 26.65pt"><span style="color: Red"><b>The
information in this prospectus is not complete and may be changed. Neither we nor the Selling Shareholder may sell these securities until
the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these
securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is prohibited.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><b>Subject to completion, dated April
2, 2025</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><b>PRELIMINARY PROSPECTUS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><span style="font-size: 12pt"><img src="image_003.jpg" alt=""/></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>15,000,000 Shares of Common Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 26.65pt">This prospectus covers
the resale by the selling shareholder of iQSTEL Inc. (&#8220;iQSTEL,&#8221; &#8220;we,&#8221; &#8220;us&#8221;, &#8220;our&#8221; or the
&#8220;Company&#8221;) identified in the &#8220;Selling Shareholder&#8221; section of this prospectus of up to an aggregate of 15,000,000
shares of common stock issuable upon exercise of a common stock purchase option (the &#8220;Option&#8221;). We will receive cash from
the sale of the Option, if exercised, which we intend to use as working capital.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The selling shareholder or
its permitted transferees, pledgees, assignees, distributees, donees or successors or others who later hold any of the selling shareholder&#8217;s
interests in the shares of common stock described this prospectus may offer and sell the shares of common stock described in this prospectus
in a number of different ways and at varying prices. We provide more information about how the selling shareholder may sell its shares
of common stock in the section titled &#8220;Plan of Distribution&#8221; appearing elsewhere in this prospectus. If necessary, the specific
manner in which the shares may be offered and sold will be described in a supplement to this prospectus. We will pay the expenses incurred
in registering the securities covered by the prospectus, including legal and accounting fees.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our common stock is quoted
on OTCQX Market under the symbol &#8220;IQST.&#8221; The last reported sale price of our common stock on March 31, 2025, was $0.15 per
share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">You should read this prospectus,
together with additional information described under the headings &#8220;Information Incorporated by Reference&#8221; and &#8220;Where
You Can Find More Information,&#8221; carefully before you invest in any of our securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Investing in our securities
involves risks. See the section titled &#8220;Risk Factors&#8221; beginning on page <span style="background-color: Yellow">6</span> of
this prospectus.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus
is truthful or complete. Any representation to the contrary is a criminal offense.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>The date of this prospectus is April 2, 2025</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span id="toc"></span><b>TABLE OF CONTENTS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto">
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top; width: 99%"><a href="#a_001"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INFORMATION CONTAINED IN THIS PROSPECTUS</b></span></a></td>
    <td style="vertical-align: bottom; width: 1%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_002"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>WHERE YOU CAN FIND MORE INFORMATION</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_003"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_004"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_005"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SUMMARY OF THE OFFERING</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_006"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONSOLIDATED FINANCIAL DATA</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_007"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>RISK FACTORS</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><a href="#a_008">MANAGEMENT</a></b></span></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_009"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>EXECUTIVE COMPENSATION</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_010"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_011"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRINCIPAL STOCKHOLDERS</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_012"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DESCRIPTION OF CAPITAL STOCK</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</span></td>
    </tr>
  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
    </tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_013"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PRIVATE PLACEMENT OF NOTE AND OPTION</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_014"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>USE OF PROCEEDS</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_015"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>SELLING SHAREHOLDER</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_016"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PLAN OF DISTRIBUTION</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_017"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>LEGAL MATTERS</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><a href="#a_018">EXPERTS</a></b></span></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_019"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MATERIAL CHANGES</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
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  <tr style="background-color: White">
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
    <td style="vertical-align: top"><a href="#a_020"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION FOR SECURITIES ACT LIABILITIES</b></span></a></td>
    <td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">50</span></td>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="a_001"></span>INFORMATION CONTAINED IN THIS PROSPECTUS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We incorporate by reference
important information into this prospectus. You may obtain the information incorporated by reference without charge by following the instructions
under &#8220;Where You Can Find More Information.&#8221; You should carefully read this prospectus as well as additional information described
under &#8220;Incorporation of Certain Information by Reference,&#8221; before deciding to invest in our securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Unless the context otherwise
requires, &#8220;iQSTEL,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer to iQSTEL Inc.,
and ADI Funding LLC refer to the selling shareholder identified in the &#8220;Selling Shareholder&#8221; section of this prospectus and
its respective permitted transferees, pledgees, assignees, distributees, donees or successors or others who later hold any of the selling
shareholder&#8217;s interests in any of the securities. References to &#8220;securities&#8221; include any security that the Selling Shareholder
might offer under this prospectus or any prospectus supplement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We have filed or incorporated
by reference exhibits to the registration statement of which this prospectus forms a part. You should read the exhibits carefully for
provisions that may be important to you.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>We have not authorized
any dealer, salesperson or other person to give any information or to make any representation other than those contained or incorporated
by reference in this prospectus. You must not rely upon any information or representation not contained or incorporated by reference in
this prospectus. This prospectus does not constitute an offer to sell or the solicitation of an offer to buy any securities other than
the registered securities to which it relates, nor does this prospectus constitute an offer to sell or the solicitation of an offer to
buy securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. You should
not assume that the information contained in this prospectus is accurate on any date subsequent to the date set forth on its front cover
or that any information we have incorporated by reference is correct on any date subsequent to the date of the document incorporated by
reference, even though this prospectus is delivered or securities are sold on a later date. Our business, financial condition, results
of operations and prospects may have changed since those dates.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_002"></span>WHERE YOU CAN FIND MORE INFORMATION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We have filed with the SEC
a registration statement on Form S-1 under the Securities Act for the securities being offered by this prospectus. This prospectus, which
is part of the registration statement, does not contain all of the information included in the registration statement and the exhibits.
For further information about us and the securities offered by this prospectus, you should refer to the registration statement and its
exhibits. References in this prospectus to any of our contracts or other documents are not necessarily complete, and you should refer
to the exhibits attached to the registration statement for copies of the actual contract or document. SEC filings are also available to
the public at the SEC&#8217;s website at&#160;<i>www.sec.gov</i>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We are subject to the reporting
and information requirements of the Exchange Act and, as a result, we file periodic and current reports, proxy statements and other information
with the SEC. We make our periodic reports and other information filed with or furnished to the SEC, available, free of charge, through
our website as soon as reasonably practicable after those reports and other information are filed with or furnished to the SEC. Additionally,
these periodic reports, proxy statements and other information are available for inspection and copying at the public reference room and
website of the SEC referred to above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="a_003"></span>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The SEC allows us to &#8220;incorporate
by reference&#8221; information from other documents that we file with it, which means that we can disclose important information to you
by referring you to those documents. The information incorporated by reference is considered to be part of this prospectus. Information
in this prospectus supersedes information incorporated by reference that we filed with the SEC prior to the date of this prospectus. We
incorporate by reference into this prospectus and the registration statement of which this prospectus is a part the information or documents
listed below that we have filed with the SEC (other than any filing or portion thereof that is furnished, rather than filed, under applicable
SEC rules):</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our Annual Report on&#160;Form
    10-K&#160;for the year ended December 31, 2024, filed with the SEC on March 31, 2025;</span></td>
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  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our Quarterly Reports on&#160;Form 10-Q&#160;for the periods ended&#160;March 31, 2024, &#160;June 30, 2024, and September 30, 2024, filed with the SEC on May 15, 2024, August 14, 2024, and November 14, 2024, respectively;</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our Current Reports
    on Form 8-K (or Form 8-K/A) filed with the SEC on March 21, 2025, March 13, 2025, February 4, 2025, January 17, 2025, November 4,
    2024, October 22, 2024, July 2, 2024, May 10, 2024, March 3, 2024, February 13, 2024, February 8, 2024, February 5, 2024, January
    25, 2024, January 2, 2024, June 13, 2023, March 21, 2023, February 6, 2023, December 14, 2022, November 18, 2022, November 2, 2022,
    October 6, 2022, October 5, 2022, May 10, 2022, and April 26, 2022.</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">the description of our common stock contained in our Registration Statement on&#160;Form 8-A&#160;(File No. 000-55984), filed with the SEC pursuant to Section 12(g) of the Exchange Act on September 5, 2018, as may be amended, including any further amendment or report filed hereafter for the purpose of updating such description.</span></td>
    <td>&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Additionally, all documents
filed by us with the SEC under Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act after (i) the date of the initial registration statement
and prior to effectiveness of the registration statement, and (ii) the date of this prospectus and before the termination or completion
of any offering hereunder, shall be deemed to be incorporated by reference into this prospectus from the respective dates of filing of
such documents, except that we do not incorporate any document or portion of a document that is &#8220;furnished&#8221; to the SEC, but
not deemed &#8220;filed.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Upon written or oral request
made to us at the address or telephone number below, we will, at no cost to the requester, provide to each person, including any beneficial
owner, to whom this prospectus is delivered, a copy of any or all of the information that has been incorporated by reference in this prospectus
(other than an exhibit to a filing, unless that exhibit is specifically incorporated by reference into that filing), but not delivered
with this prospectus. You may also access this information on our website at www.iqstel.com and the URL where incorporated reports and
other reports may be accessed is&#160;<span style="text-decoration: underline">http://iqstel.com/investors</span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Alvaro Quintana Cardona</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Chief Financial Officer</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">iQSTEL Inc.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">300 Aragon Avenue, Suite 375</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Coral Gables, FL 33134</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Phone: (954) 951-8191</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Except as expressly provided
above, no other information, including none of the information on our website, is incorporated by reference into this prospectus or any
supplement to this prospectus. You should not consider any information on, or that can be accessed through, our website as part of this
prospectus or any supplement to this prospectus (other than those filings with the SEC that we specifically incorporate by reference into
this prospectus or any supplement to this prospectus).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Any statement contained in
a document incorporated or deemed to be incorporated by reference in this prospectus will be deemed modified, superseded or replaced for
purposes of this prospectus to the extent that a statement contained in this prospectus modifies, supersedes or replaces such statement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="a_004"></span>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">This prospectus contains
forward-looking statements. All statements other than statements of historical facts contained in this prospectus, including statements
regarding our future results of operations and financial position, business strategy, prospective products, product approvals, timing
and likelihood of success, plans and objectives of management for future operations, and future results of current and anticipated products
are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause
our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed
or implied by the forward-looking statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In some cases, you can identify
forward-looking statements by terms such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221;
&#8220;anticipate,&#8221; &#8220;could,&#8221; &#8220;intend,&#8221; &#8220;target,&#8221; &#8220;project,&#8221; &#8220;contemplates,&#8221;
&#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;predicts,&#8221; &#8220;potential&#8221; or &#8220;continue&#8221; or the negative
of these terms or other similar expressions. The forward-looking statements in this prospectus are only predictions. We have based these
forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe
may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of
this prospectus and are subject to a number of risks, uncertainties and assumptions. Because forward-looking statements are inherently
subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should
not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking
statements may not be achieved or occur and actual results could differ materially from those projected in the forward-looking statements.
Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible
for us to predict all risk factors and uncertainties. Except as required by applicable law, we do not plan to publicly update or revise
any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">This prospectus also contains
estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our
industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates.
In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate
are necessarily subject to a high degree of uncertainty and risk.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="a_005"></span>SUMMARY OF THE OFFERING</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 8pt 25pt 0; text-align: justify; text-indent: 0.5in"><i>This summary highlights
information contained elsewhere in this prospectus. This summary does not contain all of the information that you should consider before
deciding to invest in our securities. You should read this entire prospectus carefully, including the &#8220;Risk Factors&#8221; section
in this prospectus and under similar captions in the documents incorporated by reference into this prospectus. </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 25pt 0; text-align: justify"><b>Business Overview</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 12pt 25pt 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">IQSTEL Inc. (www.IQSTEL.com)
is a technology company with a presence in 20 countries (Argentina, Armenia, Austria, Canada, Colombia, Germany, Greece, Guatemala, India,
Italy, Pakistan, Romania, Serbia, Spain, Switzerland, Turkey, UAE, UK, USA and Venezuela) and over 100 employees that offers leading-edge
services through its four business divisions in the telecommunications, electric vehicle (EV), fintech, and AI-enhanced metaverse industries.
Our presence is global, with offices in USA, Argentina, UK, Switzerland, Turkey, and Dubai, and we target diverse and high-growth markets.
We maintain more than 603 high value network interconnections around the world, delivering international voice, SMS, and connectivity
services that form the core of our business. The company&#8217;s strategy focuses on leveraging synergies between its 9 subsidiaries
to drive innovation and capture emerging opportunities.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our Telecom Division, which
represents the majority of current operations and which also represents the source for all of our revenues for the financial periods presented,
offers Voice over Internet Protocol (VoIP), SMS, proprietary Internet of Things (IoT) solutions (www.iotsmartgas.com and www.iotsmarttank.com),
and international fiber-optic connectivity through its subsidiaries: Etelix (www.etelix.com), SwissLink Carrier (www.swisslink-carrier.com),
Smartbiz Telecom (www.smartbiztel.com), Whisl Telecom (www.whisl.com), IoT Labs (www.iotlabs.mx), QGlobal SMS (www.qglobalsms.com), and
QXTEL Limited (www.qxtel.com).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Also under the Telecom Division,
our developing BlockChain Platform Business Line (www.itsbchain.com) offers our proprietary Mobile Number Portability Application (MNPA)
to serve the in-country portability needs through  our subsidiary, itsBchain.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our developing Fintech
Business Line (www.globalmoneyone.com) (www.maxmo.vip) offers a complete Fintech ecosystem MasterCard Debit Card, US Bank Account (No
SSN Needed), Mobile App/Wallet (Remittances, Mobile Top Up). Our Fintecsubsidiary, Global Money One, is to provide immigrants access
to reliable financial services that makes it easier to manage their money and stay connected with their families back home.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our developing Electric
Vehicle (EV) Business Line offers electric motorcycles for work and recreational use in the USA, Spain, Portugal, Panama, and Colombia.
EVOSS is also working on the development of an EV Mid Speed Car to serve the niche of the 2nd car in the family.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our developing Artificial
Intelligence (AI)-Enhanced Metaverse Division (information and content) (www.realityborder.com) is currently developing a groundbreaking
white-label solution designed specifically for corporations, businesses, and the telecommunications industry. Delivering a full suite
of immersive content services, creating a comprehensive virtual experience that can be accessed through the Web or our proprietary mobile
apps. The features include up to four simultaneous video screens for versatile content presentation, various virtual halls such as the
main hall, home hall, auditorium, exhibition space, shopping center, and meeting rooms. Stands for mobile application downloads, clickable
gates for immediate purchasing, and direct communication tools are seamlessly integrated to foster collaboration, engagement, and interactivity.
It goes beyond traditional virtual spaces by utilizing cutting-edge AI technology. This ensures video conferencing and real-time communication
with other users within the Metaverse, offering our customers a collective and fully immersive experience that caters to diverse needs
such as content acquisition, entertainment, and shared virtual experiences. It is a future-ready platform that encourages creativity,
connectivity, and collaboration like never before.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt 0 0; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our developing metaverse
leverages advanced AI to introduce Non-Player Characters (NPCs) that significantly enhance user engagement and functionality within virtual
environments. These NPCs are not mere static elements; rather, they are powered by OpenAI's latest language models, enabling dynamic interaction
with users. This AI-driven interaction allows NPCs to serve as sales and brand assistants, guiding users through immersive experiences
that can extend to purchasing products from external websites. Furthermore, these intelligent agents can control access to gated spaces
within the metaverse based on user interactions, showcasing a personalized approach to user experience.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt 0 0; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">A key innovation in our AI
implementation is the NPCs' ability to autonomously make decisions based on their understanding of user interactions. This is achieved
through state-of-the-art natural language processing and understanding capabilities, which are supported in seven languages. Additionally,
our NPCs utilize advanced text-to-speech and speech-to-text technologies to facilitate seamless communication with users across diverse
linguistic backgrounds. The incorporation of "function call" features further enhances the NPCs' ability to perform complex
tasks and interact meaningfully with the environment and the users.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt 0 0; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our reference to our technology
as "cutting-edge" is grounded in our commitment to continuous improvement and innovation. We consistently integrate the latest
advancements in AI, particularly in the areas of chatbots, language understanding, and user interaction technologies. This ensures that
our metaverse remains at the forefront of AI application in virtual spaces, offering an unparalleled user experience that goes beyond
traditional virtual environments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We are currently in an advanced
phase of development, with ongoing enhancements to AI functionalities and user interaction models. Our team is dedicated to exploring
and implementing the latest AI technologies to ensure that our metaverse remains a leading example of innovation in virtual space technology.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The information contained
on our websites is not incorporated by reference into this annual report and should not be considered part of this or any other report
filed with the SEC.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 30pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529"><b>Operating
Subsidiaries</b></span><span style="font-size: 8pt">&#160;</span></p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 30pt; text-align: justify"><span style="font-size: 8pt">&#160;</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">IQSTEL's mission is to
serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic
status, or identity. IQSTEL recognizes that in today&#8217;s modern world, the pursuit of the human hierarchy of needs (physiological,
safety, relationship, esteem, and self-actualization) is marginalized without access to ubiquitous communications, the freedom of virtual
banking, clean affordable mobility and information and content. IQSTEL has 4 Business Divisions delivering accessibly to the necessary
tools in today's pursuit of basic human needs: 1) Telecommunications (communications), 2) Fintech (financial freedom), 3) Electric Vehicles
(mobility), and 4) Metaverse (information and content). The Company continues to grow and expand its suite of products and services both
organically and through mergers and acquisitions (M&amp;A).&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our telecommunication business
currently represents 100% of our revenues, while our other business lines are in a pre-revenue stage.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt; text-align: justify; color: #212529"><b>Telecom Subsidiaries for voice
services:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 30pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Etelix.com USA LLC</b>,
a wholly owned subsidiary of IQSTEL Inc., is a US based international telecom carrier founded in 2008 that provides telecom and technology
solutions worldwide, with commercial presence in North America, Latin America, and Europe. Etelix provides International Long-Distance
voice services for Telecommunications Operators (ILD Wholesale), and Submarine Fiber Optic Network capacity for internet (4G and 5G).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Etelix is interconnected
to the most important players in the industry, with a very strong focus on Asian and Latin-American markets, among which it is worth mentioning:
China Telecom, PCCW, Hutchinson Telecom, Vodafone India, KDDI, Airtel, Reliance, Viettel, TATA Communications, Flow Jamaica (Cable and
Wireless Caribbean), Cable and Wireless Panama, Millicom (TIGO), Telefonica de Espa&#241;a (Movistar), Telecom Italia (TIM), Portugal
Telecom (MEU), Optimus (NOS), Belgacom (BICS), Deutsche Telekom, iBasis, Orbitel and Entel.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">An important milestone in
the evolution of Etelix was in 2013, when the company become part of a consortium of major carriers for the upgrade of the Maya-1 submarine
cable systems that runs from Hollywood, Florida to the city of Tolu in Colombia. This consortium is led by Orange Telecom and Orbitel,
where Etelix participates with 10 Gbps of capacity. The bulk of this contract was sold to Millicom (Tigo Costa Rica). This capacity considerably
enhanced Tigo&#8217;s ability to deploy world-class 4G services to its customers in Costa Rica.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>SwissLink Carrier
AG</b> 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. The acquisition of Swisslink strengthened the Company&#8217;s presence in Europe
putting us in a very competitive position to capture traffic to Asian and African countries. Africa continues to be the market with
the higher contribution to margin and Asia concentrates one third of the termination traffic in the industry. Estimations
show that more than 50% of the traffic terminating in Africa is- originated from customers in Europe; while the corresponding
percentage of traffic terminated in Asia is close to 40%. Based on these numbers the goal to expand the participation in the Asian
and African traffic goes through establishing a strong presence in Europe. Main interconnections are with Orange Wholesale
International, CJC Global Connections &amp; Consulting LLC, iBASIS Communications AG, U.S. South Communications, Inc., Belgacom
International Carrier, Bell Canada Inc., SWISSCOM (SCHWEIZ) AG among many other important carriers.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Whisl Telecom LLC</b>
is a 51% owned subsidiary of IQSTEL Inc., acquired in May 2022. Whisl Telecom is an US based Company that provides high quality services
and &#8220;out of the box&#8221; solutions to its customers. Whisl predominantly serves the Carrier-to-Carrier Global industry but also
has network infrastructure to provide services to the retail end users (endpoints). Whisl Telecom is one of the few US carriers to have
a significant Tier1 capacity (true capacity with high calls per second, CPS) to terminate calls with the highest quality.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">With the acquisition
of Whisl Telecom, IQSTEL has incorporated into its telecom portfolio the following services: (1) US/Canada Inbound/Origination. (2) US/Canada
DIDs. (3) US/Canada Toll Free Numbers. (4) Global DIDs and (5) Global Toll-Free Numbers.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Smartbiz Telecom LLC.</b>
is a 51% owned subsidiary of IQSTEL Inc. acquired in June 2022. Smartbiz is a US based Company that provides international voice termination
to niche markets. With this acquisition IQSTEL is expanding its telecommunication services offer to markets the company was not serving
before. Smartbiz has commercial relations with relevant players in the industry, among which it is worth mentioning the following: Telefonica
Global Solutions. S.L, Telintel Ltd, Teliax, Inc Tf, Sistemas Satelitales de Colombia S.A. Esp, and IDT Global Limited.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>QXTEL Limited</b>
is a 51% owned subsidiary of IQSTEL Inc. acquired in April 2024. QXTEL is one of the most advanced and diversified telecommunications
and technology services provider focused on platform services for wholesale, retail and cloud communications service providers, wholesale
carrier voice, wholesale carrier messaging (A2P SMS) and carrier technology services with over 20 years in the telecom industry switching
more than 5 billion voice and A2P SMS transactions over 200 interconnections worldwide. QXTEL is headquartered in London (UK) with regional
offices in Florida (USA), Buenos Aires (Argentina), Dubai (UAE), Belgrade (Serbia) and Istanbul (Turkey). QXTEL maintains commercial
relations with significant players in the industry such as BTS Business Telecommunications Service Inc., China Mobile International Limited,
Deutsche Telekom AG, Digicel Jamaica Limited, Emirates Telecom Etisalat, Hutchison Global Communication, iBASIS Communications AG, IDT
Global Limited, Messagebird, Orange Wholesale International, Tata Communications (Canada) Ltd, Telekom Deutschland Gmbh (T-Mobile), T-Mobile
USA, Inc., and Vodafone US Inc.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">With the combination of the technology capabilities of these five subsidiaries, IQSTEL has put together a complete portfolio of services
for carriers and end users. These services include:</p>

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<table cellpadding="0" cellspacing="0" style="margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto">
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    <td style="text-align: left; width: 2%; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">International Voice Termination
    for carriers: This service enables the routing of international voice calls to their final destinations across various countries.
    Telecom carriers use this to handle large volumes of cross-border voice traffic by connecting through intermediary providers or directly
    to in-country networks.</span></td>
    <td style="width: 15pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    the ability to receive incoming calls originating in the United States or Canada. It ensures seamless connectivity for businesses
    or carriers looking to establish a local presence in these regions by offering local or toll-free numbers.</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    allow users to receive calls from specific geographic locations, regardless of where they are physically located. They are essential
    for businesses seeking global reach, providing local numbers for customers worldwide.</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    internationally, allowing customers to call businesses without incurring charges. These numbers are ideal for companies serving global
    clients, offering free and easy access to customer service or sales teams.</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    A PBX is a private telephone network used within an organization, enabling efficient internal and external communication. For small
    businesses, modern PBX systems often come as cloud-based or hosted solutions, offering affordability and advanced features like call
    routing and voicemail.</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIP Trunking: SIP Trunking enables voice communication
    over the internet rather than traditional phone lines. It connects a business&#8217;s PBX system to the telephone network, offering
    cost savings, scalability, and support for voice, video, and messaging services.</span></td>
    <td>&#160;</td></tr>
  </table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The voice services in
2024 was 66.09% of the total revenue of the company ($187,194,236 out of the total $283,220,442) while in year 2023 voice services represented
46.85% of the total revenue ($67,698,574 out of the total $144,502,351).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our subsidiaries carried
5.2 billion minutes of voice during year 2024, compared to 4.2 billion in year 2023. This represents an increase of 23.81% year over
year.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>Telecom Subsidiaries for
SMS services</b>:</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>QGlobal SMS LLC</b>
is a 100% owned subsidiary of IQSTEL Inc. QGlobal SMS is a USA based company founded in 2020 specialized in international and domestic
SMS termination. QGlobal SMS has a commercial presence in Europe, USA and Latin America, with robust international interconnection with
Tier-1 SMS Aggregators, guarantying to its customers high quality and low termination rates, in over more than 100 countries. Main customers
are: Computer-Tel Inc., iBasis Communications AG, Telefonica Global Solutions. S.L, Telintel Ltd., and Twilio Ireland Limited.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>IoT Labs LLC</b> is
a 51% owned subsidiary of IQSTEL Inc. IoT Labs is an SMS service provider based in Austin, TX. Specialized in the SMS traffic exchange
between US and Mexico. Main customers are Aztek Corporative Properties Inc, Bytescale C., Codek Connect LLC, and Nuvoteq LLC.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Company entered into
the SMS business in 2020 through the acquisition of QGlobal and IoT Labs. Both companies specialize in international and domestic SMS
termination, with emphasis on the Applications to Person (A2P), Person to Person (P2P) and OmniChannel Marketing Services for several
markets: Wholesale Carrier, Government, Corporate, Enterprise, Small and Medium Companies.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Global A2P SMS Market
is expected to grow at a CAGR of 4.1% to account for $101 billion in 2030, according to Transparency Market Research. This market has
experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years
to come.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our SMS services represented
33.91% of the total revenue in the year 2024, while it was 53.15% in year 2023. Gross margin in the SMS business increased in 2024 211%
to 1.93% from 0.62% in 2023. This is the result of a higher business volume of the products deployed by QGlobal SMS and QXTEL gross margin
of which is &gt;20%, being the main objective in the SMS segment to increase the sales of those services due to its relatively higher
gross margins.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">IoT Labs, QGlobal and
QXTEL carried 13.9 billion SMS and short codes in 2024 compared to 11.3 billion in 2023. This represents an increase of 2.8 billion SMS
year over year or 32.94%.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">IoT Labs is also responsible
for the development of our award-winning Internet of Things devices SmartGas and SmartTank. The SmartGas device is perfectly focused on
retail households using traditional LP gas tanks, while the SmartTank device is more oriented for industrial purposes. The Company&#8217;s
product is a sensor and control chip that can be mounted on gas tanks in less than one minute, that converts the gas tank into an IoT
connected device through the Company&#8217;s proprietary web portal and phone apps, allowing for constant monitoring, alerting, and refilling
through the Company&#8217;s gas partners. An important milestone to highlight is that in 2018 the company received a patent in Mexico
for the invention and development of these devices. However, since the end of 2022, we have expanded the list of certified suppliers and
at this time we have a minimum inventory of parts, pieces and finished products to start the marketing process of both devices.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Company&#8217;s role
in these services is to ensure seamless voice and SMS communication across international borders by establishing peering agreements with
other telecommunication entities. This is possible using sophisticated algorithms to determine the most cost-effective and reliable paths
for voice/SMS traffic, managing media protocols such as SIP (Session Initiation Protocol) and RTP (Real-time Transport Protocol) to ensure
smooth communication between different networks ensuring efficient call routing.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><img src="image_100.jpg" alt=""/>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Company acts as a
transit network that allows the completion of voice calls, or SMSs connecting the network where the calls/SMSs are originated and the
network where the calls/SMSs are intended to terminate. The graphic below shows the path of a voice call or SMS, all parties involved
and where the Company is situated in that ecosystem.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; color: #212529"><img src="image_101.jpg" alt=""/>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>New businesses subsidiaries:</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>ItsBchain&#160;LLC</b>&#160;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 has focused on the development of solutions aimed at using the blockchain ledger and smart contracts to enable
more efficiency, quickness in execution and fraud-prevention in the telecommunications industry. Specifically, the company has developed
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.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Company has done
research covering 35 countries where number portability is mandatory by law. Those 35 countries have a total of 3.3 billion in population
and 4.0 billion phone lines that can be ported from one carrier to another. It is estimated that an average of 5% of the total phone
lines are ported every year.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Number portability is
executed and supervised by a third independent party, who acts as a database administrator and has the responsibility to guarantee all
transactions requested by the customers will be completed and his/her phone number will be ported from Carrier A to Carrier B. In the
countries under our analysis there are 11 different database administrators.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In terms of dollar value,
the number portability market in the countries under our analysis is estimated at over $86 million per year. This is based in the actual
cost carriers and/or customers have to pay to get the lines ported. Revenues of the Data Base Administrators comes from a monthly fee
charged to all participant carriers, plus a fee for every transaction completed over the platform. The monthly fee and the transactions
fee vary from country to country.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our objective is to offer
the market conformity by data-based administrators a much more cost-effective solution, which will not only reduce the operating cost,
but that will also make the transactions to complete faster without any additional CAPEX.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our mobile number portability
solution is now being tested prior to its commercial release.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Global Money One Inc</b>.
Is a 75% owned subsidiary of IQSTEL Inc. The company offers a complete Fintech ecosystem including a MasterCard Debit Card, US Bank Account
(No SSN Needed), and a Mobile App/Wallet to manage Remittances and Mobile Top Up. Our focus is to provide immigrants access to reliable
financial services that make it easier to manage their money and stay connected with their families back home.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">All available services
can be managed through our mobile App &#8220;GlobalMoneyOne&#8221; available for IOS and Android. The first non-commercial release
of the Fintech suite was done in June 2022. Since that date all services have been tested including the known-your-customer (KYC)
process for the issuance of debits cards, the settlement process with the issuer bank, the intermediary entities handling the
remittances, and the intermediaries and cellular operators for the Top Up, as well as the proper training of our customer care
agents.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">According to a World
Bank Migration and Development brief, remittances to low- and middle-income countries reached $669 billion in 2023. The brief also stated
the remittances to Latin America and the Caribbean grew 8% in 2023; with increments of 12.5% for Nicaragua, 8.6% for Guatemala, 2.3%
for Mexico, and 17.4% for Colombia according to research done by BBVA Bank. Stronger employment of migrants from Latin America in the
United States contributed to remittance flows. As a share of GDP, remittances exceed 23.9% in El Salvador, 25% in Honduras, 19.1% in
Jamaica and 21.4% in Haiti according to data published by the portal www.theglobaleconomy.com.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Electric Vehicle
Division, through an entity named TuVolten to be formed in Europe, is an initiative to offer clean and affordable mobility through Electric
Motorcycles, and Electric Mid Speed Cars. TuVolten plans to offer theirs EV Motorcycles and EV Cars in Spain, Portugal, USA, and some
countries of Latin America. As recently announced, all previous electric motorcycle designs and tests have come together in a new electric
motorcycle now rolling off the factory for the final validation tests under the European Union Standards E-Mark certification process.
Once this certification is obtained, we will begin manufacturing the first units for sale to the public.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><b>Reality Border LLC</b>
developed the initial proof-of-concept for a white label, AI-Enhanced Metaverse tailored for IQSTEL. The app was released on the Google
Play Store on June 28, 2023, on the Apple App Store on June 30, 2023, and on our website on August 28, 2023. The app offers our telecommunication
carrier clients a white label solution enabling them to interact with their customers (end users, and enterprises) through the metaverse.
The IQSTEL white label metaverse solution developed in partnership with GOTMY is tailored to provide telecom carriers with a distinctive
and immersive customer experience. In line with GOTMY&#8217;s mission to offer universally accessible experiential spaces, the IQSTEL
solution for telecom carriers is intended to accommodate all mobile phone users, not just those with high-end VR headsets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0pt 25pt; text-align: justify; background-color: white"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 26.25pt; text-align: justify; color: #212529"><b>Regulations</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 25pt; text-align: justify; text-indent: 0.5in">Telecommunications services
are subject to extensive government regulation in the United States of America. Any violations of the regulations may subject us to enforcement
actions, including interest and penalties. The FCC has jurisdiction over all telecommunications common carriers to the extent they provide
interstate or international communications services, including the use of local networks to originate or terminate such services.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>Regulation of Telecom by
the Federal Communications Commission</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><span style="text-decoration: underline">Telecommunication License</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Anyone seeking to conduct
telecommunications business where the telecommunication services will transpire between the United States of America and an international
destination must obtain a license from the Federal Communications Commission (FCC). This particular license is named a Section 214 license,
after the section in the Communications Act of 1934.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Etelix.com USA, LLC was authorized
by the Federal Communications Commission to provide facility-based services in accordance with section 63.18(e)(1) of the Commission&#8217;s
rules; and also to provide resale services in accordance with section 63.18(e)(2) under license number ITC-214-20090625-00303.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Since Etelix has no other
network infrastructure outside the United States of America, no other licenses are required for us to operate as an international carrier
service provider.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><span style="text-decoration: underline">Universal Service and Other
Regulatory Fees and Charges</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In 1997, the FCC issued an
order, referred to as the Universal Service Order, which requires all telecommunications carriers providing interstate telecommunications
services to contribute to universal service support programs administered by the FCC (known as the Universal Service Fund). These periodic
contributions are currently assessed based on a percentage of each contributor&#8217;s interstate and international end user telecommunications
revenues reported to the FCC. Etelix also contributed to several other regulatory funds and programs, most notably Telecommunications
Relay Service and FCC Regulatory Fees (collectively, the Other Funds). Due to the manner in which these contributions are calculated,
we cannot be assured that we fully recover from our customers all of our contributions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In addition, based on the
nature of our current business, we receive certain exemptions from federal Universal Service Fund contributions. Changes in our business
could eliminate our ability to qualify for some or all of these exemptions. Changes in regulations may also have an impact on the availability
of some or all of these exemptions. If even some of these exemptions become unavailable, they could materially increase our federal Universal
Service Fund or Other Funds&#8217; contributions and have a material adverse effect on the cost of our operations and, therefore, on our
ability to continue to operate profitably, and to develop and grow our business. We cannot be certain of the stability of the contribution
factors for the Other Funds. Significant increases in the contribution factor for the Other Funds in general and the Telecommunications
Relay Service Fund in particular can impact our profitability. Whether these contribution factors will be stable in the future is unknown,
but it is possible that we will be subject to significant increases.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><span style="color: Black"><span style="text-decoration: underline">Regulation
of Telecom - International</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><span style="color: Black">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><span style="color: Black">In
connection with our international operations, we have obtained licenses or are otherwise authorized to provide telecommunications services
in Switzerland.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><span style="color: Black"><span style="text-decoration: underline">Money
Transmitter and Payment Instrument Laws and Regulations</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The consumer payment
services offerings, prepaid debit cards, remittances, Top Up, are heavily-regulated industries. Accordingly, we, and the products and
services that we offer in consumer payment services, are subject to a variety of federal and state laws and regulations, including:</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; color: #212529"></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
    <td style="width: 8%"><span style="color: Black">&#160;</span></td>
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    and regulations;</span></td>
    <td style="width: 25pt"><span style="color: Black">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="color: Black">&#160;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Money transmitter
    and payment instrument laws and regulations;</span></td>
    <td><span style="color: Black">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="color: Black">&#160;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Anti-money
    laundering laws;-</span></td>
    <td><span style="color: Black">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="color: Black">&#160;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&#8226;</span></td>
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    data security laws and regulations;-</span></td>
    <td><span style="color: Black">&#160;</span></td></tr>
  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&#8226;</span></td>
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    protection laws and regulations;</span></td>
    <td><span style="color: Black">&#160;</span></td></tr>
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    property laws; and</span></td>
    <td><span style="color: Black">&#160;</span></td></tr>
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    <td><span style="color: Black">&#160;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Card association
    and network organization rules.</span></td>
    <td><span style="color: Black">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>Employees</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>&#160;</b></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Attracting and retaining
qualified personnel familiar with our businesses who head our different businesses units is critical to our success. As of December 31,
2024, we had a total of 100 employees, including all subsidiaries.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our human capital resources
objectives include identifying, recruiting, retaining, incentivizing, and integrating employees, advisors, and consultants. To achieve
this, our compensation practices aim to attract and retain qualified personnel and align their interests with our goals and the best
interests of our stockholders. Our compensation philosophy is to provide remuneration that meets our current needs and growth initiatives
and to offer incentives for achieving our long-term plans, including equity and cash incentive plans that attract, retain, and reward
personnel through stock-based and cash-based compensation awards. We consider talent attraction and retention essential for achieving
our strategy, and we recognize that a trained, diverse, and engaged workforce is crucial to meeting our objectives. Our recruiting process
targets a broad spectrum of potential employees, and we employ a rigorous screening process to identify and hire qualified professionals.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We are committed to diversity
and inclusion in the workforce, implementing a policy of non-discriminatory treatment and respect for human rights for all current and
prospective employees. We prohibit discrimination based on an individual&#8217;s race, religion, creed, color, sex, sexual orientation,
age, marital status, disability, national origin, or veteran&#8217;s status, which is illegal in many jurisdictions. We respect the human
rights of all employees and strive to treat them with dignity in accordance with standards and practices recognized by the international
community.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>Recent Developments</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On May 10, 2024, the Company
entered into a Purchase Company Agreement with Omar Luna and Lynk Holding LLC (together, the &#8220;Seller&#8221;) concerning the sale
by Seller and the purchase by us of 51% of the membership interests the Seller holds in Lynk Telecom, LLC, a Virginia limited liability
company. The Company subsequently decided to stop due diligence and the proposed deal did not close as planned.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On October 18, 2024, we entered
into a Memorandum of Understanding (the &#8220;Agreement&#8221;) with M2B Funding Corp. to extend the maturity date on three promissory
notes in exchange for stock consideration. Pursuant to the Agreement, the following promissory notes were extended by 12 months from their
original date of maturity:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; color: #212529"></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr>
    <td style="vertical-align: bottom; width: 8%; text-align: justify">&#160;</td>
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    <td style="width: 25pt; text-align: justify">&#160;</td></tr>
  <tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In consideration for this
extension, we agreed to issue 646,467 restricted common shares to M2B Funding Corp.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On November 1, 2024, we entered
into a binding Memorandum of Understanding (the &#8220;Agreement&#8221;) with Mr. Ralf Koehler ("Ralf"), SwissLink Carrier Ltd.,
("SwissLink") and Impact Trading &amp; Consulting LLC ("Impact") for the purpose of outlining the understanding regarding
the exchange of 49% ownership in SwissLink for our shares. Pursuant to the Agreement, the parties agreed that the execution of the final
agreement will be subject to mutual consent and negotiations based on the terms already agreed below:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; color: #212529"></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
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    <td style="width: 25pt; text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">The term of this agreement will be for five (5) years plus six (6) months (&#8220;Termination Date&#8221;), commencing on the date of the execution of the final agreement ("Final Agreement").</span></td>
    <td style="text-align: justify">&#160;</td></tr>
</table>

<p style="margin: 0">&#160;</p>

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<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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    <td style="width: 8%">&#160;</td>
    <td style="text-align: justify; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">Ownership will be transferred from Ralf to us in tranches, with each tranche comprising up to 10% of ownership per year.</span></td>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">The option to execute each tranche can be initiated by Ralf within each one-year period through the submission of a "trigger letter" by e-mail to us. If Ralf does not exercise his right to trigger the agreement during any year, we reserve the right to initiate the tranche execution at any point thereafter.</span></td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">Share Calculation: The number of iQSTEL shares to be provided in exchange for each tranche will be determined based on the lowest closing price of iQSTEL shares over the 90 days preceding the delivery of the trigger letter.</span></td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">Discount: Ralf will receive a 20% discount on the above calculated share price; provided however, that the above calculated share price, without the discount, shall count toward the purchase price in determining whether Ralf has received the full $750,000 USD valuation for his 49% ownership interest in SwissLink.</span></td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">If, after the execution of all tranches, Ralf has not received the full $750,000 USD valuation, we or our legal successor will pay the difference in cash until the full valuation is realized based on the Weighted Volume Average Price (WVAP) of our shares for the last 15 trading days prior to the Termination Date for shares still in Ralf's possession, and/or the actual selling price for shares already sold by Ralf.&#160;</span></td>
    <td style="text-align: justify">&#160;</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In addition, under the Agreement,
Impact agreed to render advisory services up to 60 hours per month to SwissLink and ETELIX, our wholly owned subsidiary, at 8,000 CHF
per month (excluding VAT) for a maximum of two years.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Next, SwissLink acknowledges
a debt of 200,000 CHF owed to Ralf, which will be repaid in monthly installments of 8,000 CHF until the debt is fully repaid.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Finally, Ralf will continue
to grant SwissLink non-exclusive access to the VAMP platform, with the same cost and expense structure as outlined in the Share Purchase
Agreement between iQSTEL and Ralf, dated April 1, 2019.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On March 10, 2025, the
Company signed a non-binding memorandum of understanding (&#8220;MOU&#8221;) with Accredited Solutions, Inc. (&#8220;ASII&#8221;) to
set forth the preliminary terms and mutual understanding between the parties regarding the Company&#8217;s potential sale of its 75%
equity interest in itsBChain, LLC (the &#8220;Subsidiary&#8221;) to ASII, subject to the negotiation and execution of a definitive Purchase
Agreement. The parties have agreed to execute the Purchase Agreement no later than June 1, 2025, or sooner.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Under the MOU, in exchange
for the 75% interest in the Subsidiary, ASII proposes paying $1,000,000 to the Company as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="width: 6%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; width: 2%; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td style="width: 92%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$500,000 in restricted preferred
    shares of ASII, the terms and features of which will be available prior to execution of the Purchase Agreement, but should contain
    preferential treatment on the stated value in any liquidation of ASII and a conversion price of the lowest stock price with a 10
    day look back at conversion (but with a conversion limitation of 4.99%, but no greater than 9.99%), ensuring iQSTEL&#8217;s value
    is preserved regardless of fluctuations in ASII&#8217;s common stock price.</span></td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="text-align: left; vertical-align: top">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$500,000 in restricted common shares of ASII, which
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    close of the Purchase Agreement.</span></td></tr>
  </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">At some time in the future,
the Company plans to distribute the ASII common shares as dividends to its shareholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Further under the MOU,
the Company will retain a 1% lifetime royalty on the Subsidiary&#8217;s total sales. The Company acknowledges a remaining investment
commitment of $65,000 related to the Subsidiary. This amount will be paid in monthly installments of $2,500 directly to the Subsidiary.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On March 19, 2025, the
Company signed a non-binding memorandum of understanding (&#8220;MOU&#8221;) with Craig Span (the &#8220;Seller&#8221;) to set forth
the preliminary terms and mutual understanding between the parties regarding the Company&#8217;s potential purchase a 51% equity interest
in GlobeTopper, LLC, a Delaware limited liability company (the &#8220;GlobeTopper&#8221;) held by the Seller, subject to the negotiation
and execution of a definitive Purchase Agreement. The parties have agreed to execute the Purchase Agreement no later than July 1, 2025,
or sooner.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Under the MOU, in exchange
for the 51% interest in the GlobeTopper, the Company proposes paying $700,000 to the Seller with $200,000 in cash over a period set forth
in a schedule extending to September 1, 2025, and $500,000 in common stock of the Company with a share price calculated at a 20% discount
to the Volume Weighted Average Price (VWAP) over the five days preceding execution of a definitive Purchase Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Further under the MOU,
the Company will pay performance bonuses in 2025 and 2026 based on EBITDA growth of GlobeTopper in shares of common stock of the Company
using the same discounted VWAP formula above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">To support GlobeTopper&#8217;s
growth, the MOU provides that the Company will provide up to $1,200,000 in structured financing across 24 months after execution, disbursed
in monthly installments of $50,000, contingent upon meeting quarterly financial targets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">To ensure stability and
operational continuity, the Seller will continue to serve as CEO to GlobeTopper, and 2 of the 3 board members will be selected by the
Company.</p>

<p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 25pt 8pt; text-align: justify; background-color: white"><b></b></p>

<p style="font: 10pt/10.7pt Times New Roman, Times, Serif; margin: 0 25pt 8pt; text-align: justify; background-color: white"><b>Going
Concern Considerations</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our consolidated financial
statements incorporated into this prospectus have been prepared assuming that we will continue as a going concern, which contemplates
the realization of assets and liquidation of liabilities in the normal course of business. We have suffered recurring losses from operations
with an accumulated deficit of $32,703,410 as of December 31, 2024, and do not have an established source of revenues sufficient to cover
our operating costs. These conditions raise substantial doubt about our ability to continue as a going concern. The consolidated financial
statements do not include any adjustments that might result from the outcome of this uncertainty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Our ability to continue as
a going concern is dependent upon raising capital from financing transactions, increasing revenue, and keeping operating expenses below
our revenue levels in order to achieve positive cash flows, none of which can be assured.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">During the next year, our
foreseeable cash requirements will relate to continual development of the operations of our business, maintaining our good standing in
the industry and continuing our marketing efforts. We may experience a cash shortfall and be required to raise additional capital.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Historically, we have relied
upon funds from our stockholders in the sale of our securities and from third-party loans. Management may raise additional capital through
future public or private offerings of our stock or through loans from investors, although there can be no assurance that we will be able
to obtain such financing. Our failure to do so could have a material and adverse effect upon our operations and our stockholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>Corporate History</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">IQSTEL, formerly known
as PureSnax International, Inc., was incorporated under the laws of the State of Nevada on June 24, 2011. PureSnax was previously a wellness
brand focused on bringing healthy snacks and foods to consumers. On March 8, 2017, PureSnax exited a previous License Agreement with
a Canadian snack food Licensor. From March of 2017 until its acquisition of Etelix.com USA, LLC, PureSnax was working to develop its
own brand and its own products for manufacture, distribution, sales and marketing of various products within the health foods and snacks
industry and to pursue related business opportunities. PureSnax acquired Etelix.com USA, LLC on June 25, 2018. The company left the healthy
snacks and foods business to focus on the Telecommunications Business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On August 30, 2018, PureSnax
changed its name to &#8220;IQSTEL Inc.&#8221; and received a new CUSIP number: 46265G107, as well as a new trading symbol &#8220;IQST&#8221;
in order to better resemble its new name. IQSTEL also changed the Standard Industrial Classification (SIC Code) to 4813, Telephone Communications,
Except Radiotelephone.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On April 1, 2019, the Company
entered into a Company Purchase Agreement by and between the Company and the Ralf Kohler (the &#8220;Seller&#8221;), which agreement provides
for the purchase of 51% of the equity and certain assets of SwissLink Carrier AG (&#8220;SwissLink&#8221;) (www.swisslink-carrier.com),
a Swiss corporation, by the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On February 10, 2020, the
Company entered into a Company Acquisition Agreement with Jesus Vega regarding the acquisition of 51% of the shares in QGlobal, LLC (&#8220;QGlobal&#8221;).
QGlobal is a company with the capacity to provide Short Messages (SMS), A2P and P2P messaging services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On February 21, 2020, the
Company entered into a Company Acquisition Agreement with Miguel Scavo regarding the acquisition of 75% of the shares in ItsBchain, LLC
(&#8220;ItsBchain&#8221;) a company specialized in the development of Blockchain applications for telecommunications.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On April 15, 2020, the Company
entered into a Company Acquisition Agreement with Francisco Bunt regarding the acquisition of 51% of the shares in loT Labs, LLC (&#8220;loT
Labs&#8221;). The loT Labs&#8217; principal business activity is the sale of SMS between USA and Mexico.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On November 12, 2020,
the Company entered into partnership Agreement with Payment Virtual Mobile Solutions, LLC (PayVMS), a Delaware Corporation regarding
the incorporation of Global Money One Inc, in which IQSTEL owns 75% of the shares and PayVMS owns the remaining 25%. Global Money One
is a Fintech company with a complete infrastructure to provide top-up services, international remittances and prepaid debit cards.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On October 1, 2021, the
Company entered into an agreement with Jesus Vega regarding the acquisition of the remaining 49% of the shares in QGlobal, LLC (&#8220;QGlobal&#8221;).
By means of this transaction IQSTEL increased its ownership of QGlobal to 100%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On May 13, 2022, the Company
entered into a Company Acquisition Agreement regarding the acquisition of 51% of the shares in&#160;Whisl telecom LLC (&#8220;Whisl&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On June 1, 2022, the Company
entered into a Company Acquisition Agreement regarding the acquisition of 51% of the shares in&#160;Smartbiz Telecom LLC (&#8220;Smartbiz&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On March 20, 2023, the
Company entered into a Memorandum of Understanding (the &#8220;MOU&#8221;) with Got My Idol, Inc., a Delaware corporation (&#8220;GotMy&#8221;).
The MOU concerns the formation of a joint venture to implement the commercial development of &#8220;Metaverse&#8221; products using the
current intellectual property of Got My Idol, improving it, and packaged as products under the to be formed joint venture company and
using the to be formed joint venture brand that will be owned by the to be formed joint venture company. Our equity position in the new
company will be 51% and GotMy shall hold the remaining 49% of the to be formed joint venture entity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 37.5pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On January 19, 2024, the Company
entered into a Share Purchase Agreement with Yukon River Holdings, Ltd. (&#8220;Yukon River&#8221;), a corporation formed under the laws
of the British Virgin Islands (&#8220;Seller&#8221;) concerning the contemplated sale by Seller and the purchase by us of 51% of the ordinary
shares Seller holds in QXTEL LIMITED, a company incorporated in England and Wales.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On November 1, 2024, the Company
entered into a binding Memorandum of Understanding (the &#8220;Agreement&#8221;) with Mr. Ralf Koehler ("Ralf"), SwissLink Carrier
Ltd., ("SwissLink") and Impact Trading &amp; Consulting LLC ("Impact") for the purpose of outlining the understanding
regarding the exchange of 49% ownership in SwissLink for our shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>&#160;</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On March 10, 2025, the
Company signed a non-binding memorandum of understanding (&#8220;MOU&#8221;) with Accredited Solutions, Inc. (&#8220;ASII&#8221;) to
set forth the preliminary terms and mutual understanding between the parties regarding the Company&#8217;s potential sale of its 75%
equity interest in itsBChain, LLC (the &#8220;Subsidiary&#8221;) to ASII, subject to the negotiation and execution of a definitive Purchase
Agreement. The parties have agreed to execute the Purchase Agreement no later than June 1, 2025, or sooner.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">Under the MOU, in exchange
for the 75% interest in the Subsidiary, ASII proposes paying $1,000,000 to the Company as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="width: 6%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="width: 92%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$500,000 in restricted preferred
    shares of ASII, the terms and features of which will be available prior to execution of the Purchase Agreement, but should contain
    preferential treatment on the stated value in any liquidation of ASII and a conversion price of the lowest stock price with a 10
    day look back at conversion (but with a conversion limitation of 4.99%, but no greater than 9.99%), ensuring iQSTEL&#8217;s value
    is preserved regardless of fluctuations in ASII&#8217;s common stock price.</span></td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td>
    <td style="text-align: left; vertical-align: top">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$500,000 in restricted common shares of ASII, which
    are expected to be registered by ASII in a resale offering that is filed on Form S-1 with the SEC within an agreed time from the
    close of the Purchase Agreement.</span></td></tr>
  </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">At some time in the future,
the Company plans to distribute the ASII common shares as dividends to its shareholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">Further under the MOU,
the Company will retain a 1% lifetime royalty on the Subsidiary&#8217;s total sales. The Company acknowledges a remaining investment
commitment of $65,000 related to the Subsidiary. This amount will be paid in monthly installments of $2,500 directly to the Subsidiary.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">On March 19, 2025, the
Company signed a non-binding memorandum of understanding (&#8220;MOU&#8221;) with Craig Span (the &#8220;Seller&#8221;) to set forth
the preliminary terms and mutual understanding between the parties regarding the Company&#8217;s potential purchase a 51% equity interest
in GlobeTopper, LLC, a Delaware limited liability company (the &#8220;GlobeTopper&#8221;) held by the Seller, subject to the negotiation
and execution of a definitive Purchase Agreement. The parties have agreed to execute the Purchase Agreement no later than July 1, 2025,
or sooner.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">Under the MOU, in exchange
for the 51% interest in the GlobeTopper, the Company proposes paying $700,000 to the Seller with $200,000 in cash over a period set forth
in a schedule extending to September 1, 2025, and $500,000 in common stock of the Company with a share price calculated at a 20% discount
to the Volume Weighted Average Price (VWAP) over the five days preceding execution of a definitive Purchase Agreement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">Further under the MOU,
the Company will pay performance bonuses in 2025 and 2026 based on EBITDA growth of GlobeTopper in shares of common stock of the Company
using the same discounted VWAP formula above.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">To support GlobeTopper&#8217;s
growth, the MOU provides that the Company will provide up to $1,200,000 in structured financing across 24 months after execution, disbursed
in monthly installments of $50,000, contingent upon meeting quarterly financial targets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 26.25pt; text-align: justify; color: #212529">To ensure stability and
operational continuity, the Seller will continue to serve as CEO to GlobeTopper, and 2 of the 3 board members will be selected by the
Company.</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>&#160;</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>The Offering</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 33px">&#160;</td>
    <td style="width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock offered by the Selling Shareholder</span></td>
    <td style="width: 2%; text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up to up to an aggregate of 15,000,000 shares of common stock issuable upon exercise of the Option.</span></td>
    <td style="width: 33px">&#160;</td></tr>
  <tr>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds</span></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will receive cash from the sale of the Option, if exercised, which we intend to use as working capital.</span></td>
    <td>&#160;</td></tr>
  <tr>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Selling Shareholder may sell all or a portion of their shares through public or private transactions at prevailing market prices or privately negotiated prices.</span></td>
    <td>&#160;</td></tr>
  <tr>
    <td>&#160;</td>
    <td colspan="3" style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An investment in our securities involves a high degree of risk. See the section entitled &#8220;Risk Factors&#8221; of this prospectus and the similarly titled sections in the documents incorporated by reference into this prospectus.</span></td>
    <td>&#160;</td></tr>
  <tr>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
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    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IQST</span></td>
    <td>&#160;</td></tr>
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<p style="margin-top: 0; margin-bottom: 0">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: center; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: center; background-color: white">&#160;&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: center; background-color: white">&#160;<span style="color: #212529"><b><span id="a_006"></span>CONSOLIDATED
FINANCIAL DATA</b></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: justify; background-color: white; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: justify; background-color: white; color: #212529"><span style="color: Black">The
following table sets forth our summary consolidated financial data for the years ended December 31, 2024 and 2023. The summary consolidated
financial data for the years ended December 31, 2024 and 2023 have been derived from our audited consolidated financial statements incorporated
by reference into this prospectus.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: justify; background-color: white; color: #212529"><span style="color: Black">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: justify; background-color: white; color: #212529"><span style="color: Black">The
following summary consolidated financial data should be read in conjunction with, and is qualified in its entirety by reference to, the
information contained under the caption &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221;
and our historical consolidated financial statements and related notes appearing in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2024.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; background-color: white; color: #212529"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white; color: #212529"><b>&#160;</b></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><b>Balance
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    <td>&#160;</td>
    <td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><b>December&#160;31,
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    <td>&#160;</td>
    <td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><b>December&#160;31,
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    </tr>
  <tr style="vertical-align: bottom">
    <td style="width: 62%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">Cash</span></td>
    <td style="width: 5%">&#160;</td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">2,510,357</span></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 5%">&#160;</td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">1,362,668</span></td>
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    </tr>
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">Total Assets</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">79,007,738</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,155,653</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom">
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    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">67,107,475</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">14,109,781</span></td>
    <td>&#160;</td>
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  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">Total Stockholders&#8217; Equity</span></td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">11,900,263</span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">8,045,872</span></td>
    <td>&#160;</td>
    </tr>
  </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 70%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Statement
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    <td>&#160;</td>
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    <td>&#160;</td>
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    </tr>
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    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
    <td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">283,220,442</span></td>
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    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
    <td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">144,502,351</span></td>
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    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,180,036</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(219,436</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</span></td>
    </tr>
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<p style="margin-top: 0; margin-bottom: 0"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="a_007"></span>RISK FACTORS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><i>Investing
in our common stock involves a high degree of risk. You should carefully consider the risks described below together with all of the
other information included in this registration statement before making an investment decision with regard to our securities. The statements
contained in or incorporated herein that are not historic facts are forward-looking statements that are subject to risks and uncertainties
that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. If any of the
following risks actually occurs, our business, financial condition or results of operations could be harmed. In that case, you may lose
all or part of your investment. In addition to other information in this registration statement and in other filings we make with the
Securities and Exchange Commission, the following risk factors should be carefully considered in evaluating our business as they may
have a significant impact on our business, operating results and financial condition. If any of the following risks actually occurs,
our business, financial condition, results of operations and future prospects could be materially and adversely affected. Because of
the following factors, as well as other variables affecting our operating results, past financial performance should not be considered
as a reliable indicator of future performance and investors should not use historical trends to anticipate results or trends in future
periods.</i></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i></i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><b>Risks  Relating
to Business and Financial Condition</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Because our auditor
has issued a going concern opinion regarding our company, there is an increased risk associated with an investment in our company.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have continually operated at a loss with an accumulated deficit of $32,703,410 as of December 31, 2024. We have not attained profitable
operations and even though the company maintains a cash position very close to one third year's operating expenses, we are dependent
upon obtaining financing or generating revenue from operations to continue operations for the next twelve months. Our future is dependent
upon our ability to obtain financing or upon future profitable operations. We reserve the right to seek additional funds through private
placements of our common stock and/or through debt financing. Our ability to raise additional financing is unknown. We do not have any
formal commitments or arrangements for the advancement or loan of funds. For these reasons, our auditors stated in their report that
they have substantial doubt we will be able to continue as a going concern. As a result, there is a risk that you could lose the entire
amount of your investment in our company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Because we have
a limited operating history, you may not be able to accurately evaluate our operations.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have had limited operations to date. Therefore, we have a limited operating history upon which to evaluate the merits of investing in
our company. Potential investors should be aware of the difficulties normally encountered by new companies and the high rate of failure
of such enterprises. The likelihood of success must be considered in light of the problems, expenses, difficulties, complications and
delays encountered in connection with the operations that we plan to undertake. These potential problems include, but are not limited
to, unanticipated problems relating to the ability to generate sufficient cash flow to operate our business and additional costs and expenses
that may exceed current estimates. We expect to continue to incur significant losses into the foreseeable future. We recognize that if
the effectiveness of our business plan is not forthcoming, we will not be able to continue business operations. There is no history upon
which to base any assumption as to the likelihood that we will prove successful, and it is doubtful that we will generate any operating
revenues or ever achieve profitable operations. If we are unsuccessful in addressing these risks, our business will most likely fail.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><span style="font-size: 10pt"><b><i>We
are dependent on outside financing for the continuation of our operations.</i></b></span><span style="font-size: 8pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Because
we  currently operate at a loss, we are completely dependent on the continued availability of financing
in order to continue our business operations. There can be no assurance that financing sufficient to enable us to continue our operations
will be available to us in the future.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
will need additional funds to complete further development of our business plan to achieve a sustainable level where ongoing operations
can be funded out of revenues.  There is no assurance that any additional financing will be
available or if available, on terms that will be acceptable to us.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
failure to obtain future financing or to produce levels of revenue to meet our financial needs could result in our inability to continue
as a going concern, and, as a result, our investors could lose their entire investment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We may be unable
to achieve some, all or any of the benefits that we expect to achieve from our plan to expand our operations.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">In
the future we may require additional financing for capital requirements and growth initiatives. Accordingly, we will depend on our ability
to generate cash flows from operations and to borrow funds and issue securities in the capital markets to maintain and expand our business.
We may need to incur debt on terms and at interest rates that may not be as favorable. If additional financing is not available when required
or is not available on acceptable terms, we may be unable to operate our business as planned or at all, fund our expansion, successfully
promote our business, develop or enhance our products and services, take advantage of business opportunities or respond to competitive
pressures, any of which could have a material adverse effect on our business, financial condition and results of operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>As a growing company,
we have yet to achieve a profit and may not achieve a profit in the near future, if at all.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have revenues but we are not profitable and may not be in the near future, if at all. Further, many of our competitors have a significantly
larger industry presence and revenue stream but have yet to achieve profitability. Our ability to continue as a going concern is dependent
upon raising capital from financing transactions, increasing revenue and keeping operating expenses below our revenue levels in order
to achieve positive cash flows, none of which can be assured.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><b><span style="text-decoration: underline">Risk
Factors Related to Our International Operations</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><i>Our
operations and performance depend significantly on global and regional economic conditions and adverse economic conditions can adversely
affect our business, results of operations and financial condition.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">A
deterioration in economic conditions and related drivers of global uncertainty and change, such as reduced business activity, high unemployment,
rising interest rates, housing prices, and energy prices (including the price of gasoline), increased consumer indebtedness, lack of
available credit, the rate of inflation, and perceptions of the economy, as well as other factors, such as terrorist attacks, protests,
looting, and other forms of civil unrest, cyber-attacks and data breaches, public health emergencies (such as the COVID-19 pandemic and
other epidemics), extreme weather conditions and climate change, significant changes in the political environment, political instability,
armed conflict (such as the ongoing military conflict between Ukraine and Russia and the emerging military conflict in Israel and Gaza)
and/or public policy, including increased state, local or federal taxation, could adversely affect our operating results and financial
condition.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Major
public health issues, including pandemics such as the COVID-19 pandemic, have adversely affected, and could in the future materially
adversely affect, us due to their impact on the global economy and demand for our regenerative products; the imposition of protective
public safety measures, such as shutdowns and restrictive health mandates; and disruptions in our operations, supply chain and sales
and distribution channels, resulting in interruptions to our business and the supply of current products and offering of existing services,
and delays in production ramps of new products and development of new services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">In
addition to an adverse impact on demand for our regenerative products and services, uncertainty about, or a decline in, global or regional
economic conditions can have a significant impact on our suppliers, contract manufacturers, logistics providers, distributors, and other
channel partners, and developers. Potential outcomes include financial instability; inability to obtain credit to finance business operations;
and insolvency.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">As
a result, our operating results may be impacted by the health of the global economy. Volatility and disruption in global capital and
credit markets may lead to slowdowns or declines in client spending which could adversely affect our business and financial performance.
Our business and financial performance, including new business bookings and collection of our accounts receivable, may be adversely affected
by current and future economic conditions (including a reduction in the availability of credit, higher energy costs, rising interest
rates, financial market volatility and lower than expected economic growth) that cause a slowdown or decline in client spending. Reduced
purchases by our clients or changes in payment terms could adversely affect our revenue growth and cause a decrease in our cash flow
from operations. Bankruptcies or similar events affecting clients may cause us to incur bad debt expenses at levels higher than historically
experienced. Further, volatility and disruption in global financial markets may also limit our ability to access the capital markets
at a time when we would like, or need, to raise capital, which could have an impact on our ability to react to changing economic and
business conditions. Accordingly, if global financial and economic volatility continues or worsens, our business, results of operations
and financial condition could be materially and adversely affected.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Adverse
economic conditions can also lead to increased credit and collectability risk on our trade receivables; the failure of derivative counterparties
and other financial institutions; limitations on our ability to issue new debt; reduced liquidity; and declines in the fair values of
our financial instruments. These and other impacts can materially adversely affect our business, results of operations, financial condition
and stock price.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><b><i>We
have some revenue derived from customers outside of the United States, and we may lose revenues and market share due to exchange rate
fluctuations and political and economic changes related to foreign business.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Some
of our revenue comes from customers outside of the United States. Any company conducting foreign business is always subject to economic,
political and regulatory uncertainties and risks that are unique to each area of the world. Fluctuations in exchange rates may also affect
the prices that foreign customers are willing to pay and may put us at a price disadvantage compared to other competitors. Potentially
volatile shifts in exchange rates may negatively affect our financial position and results.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><b><i>We
operate a global business that exposes us to currency, economic and regulatory risks.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
revenue comes primarily from sales outside the U.S. and our growth strategy is largely focused on emerging markets. Our success delivering
solutions and competing in international markets is subject to our ability to manage various risks and difficulties, including, but not
limited to:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<table cellpadding="0" cellspacing="0" style="margin-left: auto; border-collapse: collapse; width: 100%; margin-right: auto">
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    <td style="width: 6%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; width: 2%; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td style="width: 92%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability to effectively staff,
    provide technical support and manage operations in multiple countries;</span></td></tr>
  <tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">fluctuations in currency exchange rates;</span></td></tr>
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    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">timely collecting of accounts receivable from customers
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    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">trade restrictions, political instability, disruptions
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  <tr style="vertical-align: bottom">
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    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">compliance with the U.S. Foreign Corrupt Practices
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  <tr style="vertical-align: bottom">
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    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">variations and changes in laws applicable to our
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  <tr style="vertical-align: bottom">
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    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
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<p style="margin-top: 0; margin-bottom: 0">&#160;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
global operations subject us to many different and complex laws and rules, and we may face difficulty in compliance.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Due
to our global operations, we are subject to many laws governing international relations (including but not limited to the Foreign Corrupt
Practices Act, the U.S. Export Administration Act the EU General Data Protection Regulation, and the U.K. Modern Anti-Slavery Act); which
prohibit improper payments to government officials and restrict where and how we can do business, what information or products we can
supply to certain countries, what personal information we can transfer, and what information we can provide to a non-U.S. government.
Although we have procedures and policies in place that should mitigate the risk of violations of these laws, there is no guarantee that
they will be sufficiently effective. If, and when we acquire new businesses, we may not be able to ensure that the pre-existing controls
and procedures meant to prevent violations of the rules and laws were effective, and we may not be able to implement effective controls
and procedures to prevent violations quickly enough when integrating newly acquired businesses. Acquisitions of new businesses in new
non-U.S. jurisdictions may also subject us to new regulations and laws, and we may face difficulties ensuring compliance with these new
requirements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">These
challenges include: (1) compliance with complex and changing laws, regulations and policies of governments that may impact our operations,
such as foreign ownership restrictions, import and export controls, tariffs, and trade restrictions; (2) compliance with U.S. and foreign
laws that affect the activities of companies abroad, such as anti-corruption laws, competition laws, currency regulations, and laws affecting
dealings with certain nations; (3) the difficulties involved in managing an organization doing business in many different countries;
(4) rapid changes in government policy, acts of terrorism, or the threat of international boycotts or U.S. anti-boycott legislation;
and (5) currency exchange rate fluctuations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><b>Risk Factors Related
to the Business of the Company</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Our telecommunications
line of business is highly sensitive to declining prices, which may adversely affect our revenues and margins.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
telecommunications industry is characterized by intense price competition, which has resulted in declines in both our average per-minute
price realizations and our average per-minute termination costs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">A
reduction in our prices to compete with any other offers in the market will not always guarantee an increase in traffic, which may result
in a reduction of revenue. If these trends in pricing continue or accelerate, it could have a material adverse effect on the revenues
generated by our telecommunications businesses and/or our gross margins.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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continued growth of Over-The-Top calling and messaging services, such as WhatsApp, Skype and Viber have adversely affected the use of
traditional phone communications. We expect this IP-based service, which offers voice communications for free to continue to increase,
which may result in increased substitution on our service offerings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Our products face
intense competitive challenges, including rapid technological changes, and pricing pressure from competitors, which could adversely affect
our business.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

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of our product lines are subject to significant competition from existing and future competitors, market conditions and technological
change, or a combination of them, and our sales revenues and gross margins may suffer protracted and serious declines with the result
that we would likely incur protracted losses. Further, the barriers to entry in several of our lines of business are not so significant
that we may be facing competition from others who see significant opportunities to enter the market and undercut our prices with products
that possess superior technological attributes at prices that offer our customers a better value. In this instance, we could incur protracted
and significant losses and people who acquire our common stock would suffer losses thereby.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">From
time to time, we may need to reduce our prices in response to competitive and customer pressures and to maintain our market share. Competition
and customer pressures may also restrict our ability to increase prices in response to commodity and other input cost increases. Our results
of operations will suffer if profit margins decrease, as a result of a reduction in prices, increased input costs or other factors, and
if we are unable to increase sales volumes to offset those profit margin decreases. We may also need to increase spending on marketing,
advertising and new product innovation to protect existing market share or increase market share. The success of our investments is subject
to risks, including uncertainties about trade and consumer acceptance. As a result, our increased expenditures may not maintain or enhance
market share and could result in lower profitability.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Our operating
results may fluctuate, which could have a negative impact on our ability to grow our client base, establish sustainable revenues and succeed
overall.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
results of operations may fluctuate as a result of a number of factors, some of which are beyond our control including but not limited
to:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>The termination
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ability to compete, which could reduce our revenues and profits.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
rely upon our carrier agreements to provide our telecommunications services to our customers. These carrier agreements are in
most cases for finite terms and, therefore, there can be no guarantee that these agreements will be renewed at all or on favorable terms
to us. Our ability to compete would be adversely affected if our carrier agreements were terminated or we were unable to enter into carrier
agreements in the future to provide our telecommunications services to our customers, which could result in a reduction of our revenues
and profits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><span style="font-size: 10pt"><b><i>Our
customers could experience financial difficulties, which could adversely affect our revenues and profitability if we experience difficulties
in collecting our receivables.</i></b></span><span style="font-size: 8pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

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a provider of international long-distance services, we depend upon sales of transmission and termination of traffic to other long-distance
providers and the collection of receivables from these customers. The wholesale telecommunications market continues to feature many smaller,
less financially stable companies. If weakness in the telecommunications industry or the global economy reduces our ability to collect
our accounts receivable from our major customers our profitability may be substantially reduced. While our most significant customers,
from a revenue perspective, vary from quarter to quarter, our 27 largest customers (4.5% of our total customer base) collectively accounted
for 89% of total consolidated revenues in fiscal year 2024. Although we are somewhat insulated from nonpayment because 33% of our revenue
is prepaid, this concentration of revenue increases our exposure to non-payments and we may experience significant write-offs if any
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<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 11pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><span style="font-size: 10pt"><b><i>We
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
intend to make acquisitions of complementary (including competitive) businesses, products and technologies. However, any future acquisitions
may result in material transaction costs, increased interest and amortization expenses related to goodwill and other intangible assets,
increased depreciation expenses and increased operating expenses, any of which could have an adverse effect on our operating results
and financial position. Acquisitions will require integration of acquired assets and management into our operations to realize economies
of scale and control costs. Acquisitions may involve other risks, including diversion of management attention that would otherwise be
available for ongoing internal development of our business and risks inherent in entering markets in which we have no or limited prior
experience. In connection with future acquisitions, we may make potentially dilutive issuances of equity securities. In addition, consummation
of acquisitions may subject us to unanticipated business uncertainties, contingent liabilities or legal matters relating to those acquired
businesses for which the sellers of the acquired businesses may not fully indemnify us. There can be no assurance that our business will
grow through acquisitions, as anticipated.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><i></i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
believe there are meaningful opportunities to grow through acquisitions and joint ventures across all product and service categories and
we expect to continue a strategy of selectively identifying and acquiring businesses with complementary products and services. We may
be unable to identify, negotiate, and complete suitable acquisition opportunities on reasonable terms. There can be no assurance that
any business acquired by us will be successfully integrated with our operations or prove to be profitable to us. We may incur future liabilities
related to acquisitions. Should any of the following problems, or others, occur as a result of our acquisition strategy, the impact could
be material:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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    <td>in the case of an acquisition, difficulty integrating, supporting or enhancing acquired product lines or services, including
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    <td>regulatory risks, litigation or other claims inherited from or arising in connection with the acquired company, investment
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    <td>in the case of a divestiture, unforeseen loss of institutional knowledge, resources, know-how, or other assets;</td></tr>
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    <td>in the case of a divestiture, potential contractual obligations may trigger, such as change of control obligations, which
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    <td>in the case of foreign acquisitions, the need to integrate operations across different cultures and languages and to address
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    <td>We may not be able to identify acquisition or investment opportunities that meet our strategic objectives, or to the extent
    that such opportunities are identified, we may not be able to negotiate terms with respect to the acquisition or investment that
    are acceptable to us. In addition, the acquisitions and investments that we consummate may fail to achieve our strategic objectives,
    in which case we may shut down, divest, or otherwise exit the acquired business or investment, which could harm our reputation and
    adversely affect our financial position and results of operations.</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Natural disasters,
terrorist acts, acts of war, pandemics, cyber-attacks or other breaches of network or information technology security may cause equipment
failures or disrupt our operations.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
inability to operate our telecommunications networks because of the events listed above, even for a limited period, may result in loss
of revenue, significant expenses, which could have a material adverse effect on our results of operations and financial condition.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
could be harmed by network disruptions, security breaches, or other significant disruptions or failures of our IT infrastructure and related
systems. To be successful, we need to continue to have available a high capacity, reliable and secure network for our and our customers&#8217;
use. As any other company, we face the risk of a security breach, whether through cyber-attacks, malware, computer viruses, sabotage,
or other significant disruption of our IT infrastructure and related systems. There is a risk of a security breach or disruption of the
systems we operate, including possible unauthorized access to our proprietary or classified information. We are also subject to breaches
of our network resulting in unauthorized utilization of our services, which subject us to the costs of providing those services, which
are likely not recoverable. The secure maintenance and transmission of our information is a critical element of our operations. Our information
technology and other systems that maintain and transmit customer information may be compromised by a malicious third-party penetration
of our network security, or impacted by advertent or inadvertent actions or inactions by our employees, or those of a third party service
provider or business partner. As a result, our or our customers&#8217; information may be lost, disclosed, accessed or taken without the
customers&#8217; consent, or our services may be used without payment.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Although
we make significant efforts to maintain the security and integrity of these types of information and systems, there can be no
assurance that our security efforts and measures will be effective or that attempted security breaches or disruptions would not be
successful or damaging, especially in light of the growing sophistication of cyber-attacks and intrusions. We may be unable to
anticipate all potential types of attacks or intrusions or to implement adequate security barriers or other preventative measures.
Certain of our business units have been the subject of attempted and successful cyber-attacks in the past. We have researched the
situations and do not believe any material internal, or customer information has been compromised.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>If we are unable
to successfully manage growth, our operations could be adversely affected.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
progress is expected to require the full utilization of our management, financial and other resources, which to date has occurred with
limited working capital. Our ability to manage growth effectively will depend on our ability to improve and expand operations, including
our financial and management information systems, and to recruit, train and manage sales personnel. There can be no absolute assurance
that management will be able to manage growth effectively.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">If
we do not properly manage the growth of our business, we may experience significant strains on our management and operations and disruptions
in our business. Various risks arise when companies and industries grow quickly. If our business or industry grows too quickly, our ability
to meet customer demand in a timely and efficient manner could be challenged. We may also experience development delays as we seek to
meet increased demand for our products. Our failure to properly manage the growth that we or our industry might experience could negatively
impact our ability to execute on our operating plan and, accordingly, could have an adverse impact on our business, our cash flow and
results of operations, and our reputation with our current or potential customers.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><b>Risks Related to
Legal Uncertainty</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We may be subject
to securities litigation, which is expensive and could divert management attention.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">In
the past companies that have experienced volatility in the market price of their stock have been subject to securities class action litigation.
We may be the target of this type of litigation in the future. Litigation of this type could result in substantial costs and diversion
of management&#8217;s attention and resources, which could seriously hurt our business. Any adverse determination in litigation could
also subject us to significant liabilities.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We may be subject
to tax and regulatory audits which could subject us to liabilities.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
are subject to tax and regulatory audits which could result in the imposition of liabilities that may or may not have been reserved. We
are subject to audits by taxing and regulatory authorities with respect to certain of our income and operations. These audits can cover
periods for several years prior to the date the audit is undertaken and could result in the imposition of liabilities, interest and penalties
if our positions are not accepted by the auditing entity.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Changes in regulations
or user concerns regarding privacy and protection of user data, or any failure to comply with such laws, could adversely affect our business.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Federal,
state, and international laws and regulations govern the collection, use, retention, disclosure, sharing and security of data that we
receive from and about our users. The use of consumer data by online service providers is a topic of active interest among federal, state,
and international regulatory bodies, and the regulatory environment is unsettled. Many states have passed laws requiring notification
to users where there is a security breach for personal data, such as California&#8217;s Information Practices Act. We face similar risks
in international markets where our products and services are offered. Any failure, or perceived failure, by us to comply with or make
effective modifications to our policies, or to comply with any applicable federal, state, or international privacy, data-retention or
data-protection-related laws, regulations, orders or industry self-regulatory principles could result in proceedings or actions against
us by governmental entities or others, a loss of user confidence, damage to our business and brand, and a loss of users, which could potentially
have an adverse effect on our business.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">In
addition, various federal, state and foreign legislative or regulatory bodies may enact new or additional laws and regulations concerning
privacy, data retention, data transfer and data protection issues, including laws or regulations mandating disclosure to domestic or international
law enforcement bodies, which could adversely impact our business, our brand or our reputation with users. For example, some countries
are considering or have enacted laws mandating that user data regarding users in their country be maintained in their country. In addition,
there currently is a data protection regulation applicable to member states of the European Union that includes operational and compliance
requirements that are different than those currently in place and that also includes significant penalties for non-compliance.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
interpretation and application of privacy, data protection, data transfer and data retention laws and regulations are often uncertain
and in flux in the United States and internationally. These laws may be interpreted and applied inconsistently from country to country
and inconsistently with our current policies and practices, complicating long-range business planning decisions. If privacy, data protection,
data transfer or data retention laws are interpreted and applied in a manner that is inconsistent with our current policies and practices,
we may be fined or ordered to change our business practices in a manner that adversely impacts our operating results. Complying with these
varying international requirements could cause us to incur substantial costs or require us to change our business practices in a manner
adverse to our business and operating results.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We may be subject
to legal liability associated with providing online services or content.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
host and provide a wide variety of services and technology products that enable and encourage individuals and businesses to exchange information;
upload or otherwise generate photos, videos, text, and other content; advertise products and services; conduct business; and engage in
various online activities both domestically and internationally. The law relating to the liability of providers of online services and
products for activities of their users is currently unsettled both within the United States and internationally. We may be subject to
domestic or international actions alleging that certain content we have generated or third-party content that we have made available within
our services violates laws in domestic and international jurisdictions.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">It
is also possible that if any information provided directly by us contains errors or is otherwise wrongfully provided to users, third parties
could make claims against us. For example, we offer web-based e-mail services, which expose us to potential risks, such as liabilities
or claims, by our users and third parties, resulting from unsolicited e-mail, lost or misdirected messages, illegal or fraudulent use
of e-mail, alleged violations of policies, property interests,  privacy protections, including civil or criminal laws, or interruptions
or delays in e-mail service. We may also face purported consumer class actions or state actions relating to our online services, including
our fee-based services. In addition, our customers, third parties, or government entities may assert claims or actions against us if our
online services or technologies are used to spread or facilitate malicious or harmful code or applications.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Investigating
and defending these types of claims are expensive, even if the claims are without merit or do not ultimately result in liability, and
could subject us to significant monetary liability or cause a change in business practices that could negatively impact our ability to
compete.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0pt; background-color: white"><b><i>Security
breaches, denial of service attacks, or other hacking and phishing attacks on our systems or other security breaches, including internal
security failures, could harm our reputation or subject us to significant liability, and adversely affect our business and financial
results.</i></b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">As
a critical infrastructure service provider, we transmit large amounts of data over our systems, and process and store highly sensitive
customer data. Consequently we, our third-party service providers, and our customers operate in an industry that is prone to cyber-attacks.
Despite our efforts to prevent these events, some of these attacks could result in a material adverse impact to our operations due to
distributed denial of service attacks, ransomware attacks, malware, virus, credential harvesting, man-in-the-middle attacks, or social
engineering attacks. We do not believe these incidents are likely to have a material adverse impact on our ability to serve our customers
or our business, operations or financial results.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Cyber-attacks
on our systems may stem from a variety of sources and take many forms. Cyber-attacks can put at risk personally identifiable information,
customer data or protected information, thereby implicating stringent domestic and foreign data protection laws. These threats may also
arise from failure or intrusions of systems owned, operated or controlled by other unaffiliated third-party operators, upon whom we are
materially reliant to operate our business. Various other factors could intensify these risks, including, (i) our maintenance of information
in digital form stored on servers connected to the Internet, (ii) our use of open- and software-defined networks, (iii) the challenges
of operating and maintaining our complex multi-continent network composed of legacy and acquired properties, which is more difficult
to safeguard than newer fully-integrated networks, (iv) growth in the size and sophistication of our customers and their service requirements,
(v) increased use of our network due to greater demand for data services, (vi) the large number of our employees working from remote
locations, (vii) our IT support agreements with purchasers of businesses we have divested over the past few years and (viii) as further
discussed below, the difficulty of defending against increasingly sophisticated attacks.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Cyber-attacks
could (i) disrupt the proper functioning of our networks and systems, which could in turn disrupt the operations of our customers, (ii)
result in the destruction, loss, theft, misappropriation or release of proprietary, confidential, sensitive, classified or otherwise
valuable information of ours, our employees, our customers or our customers&#8217; end users, (iii) require us to notify customers, regulatory
agencies or the public of data incidents, (iv) damage our reputation or result in a loss of business, (v) require us to provide credits
for future service to our customers or to offer expensive incentives to retain customers, (vi) subject us to claims by our customers
or regulators for damages, fines, penalties, license or permit revocations or other remedies, (vii) result in the loss of industry certifications
or (viii) require significant management attention or financial resources to remedy the resulting damages or to change our systems. Any
or all of the foregoing developments could have a material adverse impact on us.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
believe the importance of our network to global internet data flows will continue to make it a target to a wide range of threat actors,
including nation state actors and other advanced persistent threat actors. Moreover, the risk of incidents is likely to continue to increase
due to several factors, including (i) the increasing use of machine learning, AI and other sophisticated techniques to initiate cyber
and phishing attacks, (ii) the wider accessibility of cyber-attack tools that can circumvent security controls and evade detection, which
can delay and limit our ability to accurately assess and fully remediate the impact of the attack, and (iii) growing threats from Chinese,
Russian and other state actors due to heightened geopolitical tensions and rivalries, and the attendant increased possibility of cyber
warfare targeting us in the event of a direct conflict. It should also be noted that defenses against cyber-attacks currently available
to us and others are unlikely to prevent intrusions by a highly-determined, highly-sophisticated threat actor. Thus far, none of our
past security incidents have had a material adverse effect on us, and we continue to take steps designed to limit our cyber risks. Nonetheless,
we cannot assure you that future cyber incidents or events will not ultimately have a material adverse impact on our business, operations
or financial results.</p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Provisions
in the Nevada Revised Statutes and our Bylaws could make it very difficult for an investor to bring any legal actions against our directors
or officers for violations of their fiduciary duties or could require us to pay any amounts incurred by our directors or officers in
any such actions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Members
of our board of directors and our officers will have no liability for breaches of their fiduciary duty of care as a director or officer,
except in limited circumstances, pursuant to provisions in the Nevada Revised Statutes and our Bylaws as authorized by the Nevada Revised
Statutes. Specifically, Section 78.138 of the Nevada Revised Statutes provides that a director or officer is not individually liable
to the company or its stockholders or creditors for any damages as a result of any act or failure to act in his or her capacity as a
director or officer unless it is proven that (1) the director&#8217;s or officer&#8217;s act or failure to act constituted a breach of
his or her fiduciary duties as a director or officer and (2) his or her breach of those duties involved intentional misconduct, fraud
or a knowing violation of law. This provision is intended to afford directors and officers protection against and to limit their potential
liability for monetary damages resulting from suits alleging a breach of the duty of care by a director or officer. Accordingly, you
may be unable to prevail in a legal action against our directors or officers even if they have breached their fiduciary duty of care.
In addition, our Bylaws allow us to indemnify our directors and officers from and against any and all costs, charges and expenses resulting
from their acting in such capacities with us. This means that if you were able to enforce an action against our directors or officers,
in all likelihood, we would be required to pay any expenses they incurred in defending the lawsuit and any judgment or settlement they
otherwise would be required to pay. Accordingly, our indemnification obligations could divert needed financial resources and may adversely
affect our business, financial condition, results of operations and cash flows, and adversely affect prevailing market prices for our
common stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Nevada law and
certain anti-takeover provisions of our corporate documents could entrench our management or delay or prevent a third party from</i>&#160;<i>acquiring
us or a change in control even if it would benefit our shareholders.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Certain
provisions of Nevada law may have an anti-takeover effect and may delay or prevent a tender offer or other acquisition transaction that
a shareholder might consider to be in his or her best interest. The summary of the provisions of Nevada law set forth below does not purport
to be complete and is qualified in its entirety by reference to Nevada law.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
issuance of shares of preferred stock, the issuance of rights to purchase such shares, and the imposition of certain other adverse effects
on any party contemplating a takeover could be used to discourage an unsolicited acquisition proposal. For instance, the issuance of a
series of preferred stock might impede a business combination by including class voting rights that would enable a holder to block such
a transaction. In addition, under certain circumstances, the issuance of preferred stock could adversely affect the voting power of holders
of our common stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Under
Nevada law, a director, in determining what he reasonably believes to be in or not opposed to the best interests of the corporation, does
not need to consider only the interests of the corporation&#8217;s shareholders in any takeover matter but may also, in his discretion,
may consider any of the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white; border-collapse: collapse">
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The interests of the corporation&#8217;s employees, suppliers, creditors and customers; &#160;</span></td>
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The long-term interests of the corporation and its shareholders, including the possibility that those interests may be best served by the continued independence of the corporation; and &#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 81pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Because
our board of directors is not required to make any determination on matters affecting potential takeovers solely based on its judgment
as to the best interests of our shareholders, our board could act in a manner that would discourage an acquisition attempt or other transaction
that some, or a majority, of our shareholders might believe to be in their best interests or in which such shareholders might receive
a premium for their stock over the then market price of such stock. Our board presently does not intend to seek shareholder approval prior
to the issuance of currently authorized stock, unless otherwise required by law or applicable stock exchange rules.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We are no longer
an &#8220;emerging growth company&#8221; and therefore no longer eligible for reduced reporting requirements applicable to emerging growth
companies.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">It
has been thirteen years since our first registered sale of common stock in 2012, so we are no longer eligible for the reduced disclosure
requirements applicable to &#8220;emerging growth companies.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Emerging
growth companies may take advantage of exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies, including not being required to comply with the auditor attestation requirements of Section 404 of
the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements and
exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden
parachute payments not previously approved.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
are also a smaller reporting company, and we will remain a smaller reporting company until the fiscal year following the determination
that our voting and non-voting common shares held by non-affiliates is more than $250 million measured on the last business day of our
second fiscal quarter, or our annual revenues are more than $100 million during the most recently completed fiscal year and our voting
and non-voting common shares held by non-affiliates is more than $700 million measured on the last business day of our second fiscal quarter.
Similar to emerging growth companies, smaller reporting companies are able to provide simplified executive compensation disclosure, are
exempt from the auditor attestation requirements of Section 404, and have certain other reduced disclosure obligations, including, among
other things, being required to provide only two years of audited financial statements and not being required to provide selected financial
data, supplemental financial information or risk factors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Since
we are no longer eligible for emerging growth company status, we will be subject to the reporting obligations of a smaller reporting company
and, if we continue grow, we may be subject to increased reporting requirements applicable to accelerated filers, which are more onerous
than those applicable to smaller reporting companies.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>As a smaller reporting
company and will be exempt from certain disclosure requirements, which could make our Common Stock less attractive to potential investors.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Rule
12b-2 of the Exchange Act defines a &#8220;smaller reporting company&#8221; as an issuer that is not an investment company, an asset-backed
issuer, or a majority-owned subsidiary of a parent that is not a smaller reporting company and that:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 8%">&#160;</td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
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  <tr style="vertical-align: top">
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    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
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    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in the case of an initial registration statement under the Securities Act, or the Exchange Act, for shares of our common equity, had a public float of less than $250 million as of a date within 30 days of the date of the filing of the registration statement, computed by multiplying the aggregate worldwide number of such shares held by non-affiliates before the registration plus, in the case of a Securities Act registration statement, the number of such shares included in the registration statement by the estimated public offering price of the shares; or</span></td>
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  <tr style="vertical-align: top">
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    <td>&#160;</td>
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    <td>&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">As
a smaller reporting company, we will not be required and may not include a Compensation Discussion and Analysis section in our proxy statements;
we will provide only two years of financial statements; and we need not provide the table of selected financial data. We also will have
other &#8220;scaled&#8221; disclosure requirements that are less comprehensive than issuers that are not smaller reporting companies which
could make our Common Stock less attractive to potential investors, which could make it more difficult for our stockholders to sell their
shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>If we fail to
maintain an effective system of internal control over financial reporting in the future, we may not be able to accurately report our financial
condition, results of operations or cash flows, which may adversely affect investor confidence in us and, as a result, the value of our
common shares.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
are required, under Section 404 of the Sarbanes-Oxley Act, to furnish a report by management on, among other things, the effectiveness
of our internal control over financial reporting. This assessment includes disclosure of any&#160;material weaknesses&#160;identified
by our management in our internal control over financial reporting. A material weakness is a deficiency, or combination of deficiencies,
in internal control over financial reporting that results in more than a reasonable possibility that a material misstatement of annual
or interim financial statements will not be prevented or detected on a timely basis. Section 404 of the Sarbanes-Oxley Act also generally
requires an attestation from our independent registered public accounting firm on the effectiveness of our internal control over financial
reporting. However, for as long as we remain a smaller reporting company, we intend to take advantage of the exemption permitting us not
to comply with the independent registered public accounting firm attestation requirement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
compliance with Section 404 will require that we incur substantial accounting expense and expend significant management efforts. We may
not be able to complete our evaluation, testing and any required remediation in a timely fashion. During the evaluation and testing process,
if we identify one or more&#160;material weaknesses&#160;in our internal control over financial reporting, we will be unable to assert
that our internal control over financial reporting is effective.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
management identified the following material weaknesses in our internal control over financial reporting, which are indicative of many
small companies with small staff: (i) inadequate segregation of duties and effective risk assessment; and (ii) insufficient written policies
and procedures for accounting and financial reporting with respect to the requirements and application of both US GAAP and SEC guidelines.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;We
cannot assure you that there will not be&#160;material weaknesses&#160;or significant deficiencies in our internal control over financial
reporting in the future. Any failure to maintain internal control over financial reporting could severely inhibit our ability to accurately
report our financial condition, results of operations or cash flows. This may expose us, including individual executives, to potential
liability which could significantly affect our business. If we are unable to conclude that our internal control over financial reporting
is effective, or if our independent registered public accounting firm determines we have a material weakness or significant deficiency
in our internal control over financial reporting once that firm begins its audits of internal control over financial reporting, we could
lose investor confidence in the accuracy and completeness of our financial reports, the market price of our common shares could decline,
and we could be subject to sanctions or investigations by FINRA, the SEC, or other regulatory authorities. Failure to remedy any material
weakness in our internal control over financial reporting, or to implement or maintain other effective control systems required of public
companies, could also restrict our future access to the capital markets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Our disclosure
controls and procedures may not prevent or detect all errors or acts of fraud.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
disclosure controls and procedures are designed to reasonably assure that information required to be disclosed by us in reports we file
or submit under the Securities Exchange Act of 1934 is accumulated and communicated to management, recorded, processed, summarized and
reported within the time periods specified in the rules and forms of the SEC. We believe that any disclosure controls and procedures or
internal controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that
the objectives of the control system are met.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">These
inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple
error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people
or by an unauthorized override of the controls. Accordingly, because of the inherent limitations in our control system, misstatements
or insufficient disclosures due to error or fraud may occur and not be detected.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Deficiencies in
disclosure controls and procedures and internal control over financial reporting could result in a material misstatement in our financial
statements.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
could be adversely affected if there are deficiencies in our disclosure controls and procedures or in our internal controls over financial
reporting. The design and effectiveness of our disclosure controls and procedures and our internal controls over financial reporting may
not prevent all errors, misstatements or misrepresentations. Consistent with other entities in similar stages of development, we have
a limited number of employees currently in the accounting group, limiting our ability to provide for segregation of duties and secondary
review. A lack of resources in the accounting group could lead to material misstatements resulting from undetected errors occurring from
an individual performing primarily all areas of accounting with limited secondary review. Deficiencies in internal controls over financial
reporting which may occur could result in material misstatements of our results of operations, restatements of financial statements, other
required remediations, a decline in the price of our common shares, or otherwise materially adversely affect our business, reputation,
results of operations, financial condition or liquidity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><b>Risks
Relating to Our Securities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We have
the right to issue additional common stock and preferred stock without the consent of stockholders which would have the effect of
diluting investors&#8217; ownership and could decrease the value of their investment.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have additional authorized, but unissued shares of our common stock that may be issued by us for any purpose without the consent or vote
of our stockholders that would dilute stockholders&#8217; percentage ownership of our company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">In
addition, our certificate of incorporation authorizes the issuance of shares of preferred stock and/or the conversion of existing
outstanding preferred stock into common stock, the rights, preferences, designations and limitations of which may be set by the
Board of Directors. Our certificate of incorporation has authorized issuance of up to 300,000,000 shares of common stock and up to
1,200,000 shares of preferred stock in the discretion of our Board.</p>

<p style="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
shares of authorized but unissued preferred stock may be issued upon Board of Directors approval; no further stockholder action is required.
If issued, the rights, preferences, designations and limitations of such preferred stock would be set by our Board and could operate
to the disadvantage of the outstanding common stock. Such terms could include, among others, preferences as to dividends and distributions
on liquidation, conversion right, voting rights and others.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Our largest shareholders,
officers and directors and related parties, Leandro Iglesias and Alvaro Cardona, have substantial control over us and our policies as
a result of their holdings in Series A Preferred Stock, and will be able to influence all corporate matters, which might not be in other
shareholders&#8217; interests.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">There
were 10,000 shares of Series A Preferred Stock outstanding as of the date of this Annual Report, with Mr. Iglesias holding 7,000 shares
and Mr. Cardona the other 3,000 shares. There were 210,710,170 shares of our common stock issued and outstanding as of the date of this
Annual report, with Mr. Iglesias holding 2,095,363 shares and Mr. Cardona holding 1,331,842 shares, which together accounts for just
over 1.68% of our outstanding common stock. Holders of Series A Preferred Stock are entitled to vote together with the holders of our
common stock on all matters submitted to shareholders at a rate of 51% of the total vote of shareholders, including the election of directors.
Our common stock is entitled to one vote per share on all matters submitted to a vote of the stockholders, including the election of
directors. By virtue of their ownership of Series A Preferred Stock and common stock, they are able to vote at a rate of approximately
51.83% of the total vote of shareholders. They are therefore able to exercise significant influence over all matters requiring approval
by our stockholders, including the election of directors, the approval of significant corporate transactions, and any change of control
of our company. They could prevent transactions, which would be in the best interests of the other shareholders. Their interests may
not necessarily be in the best interests of the shareholders in general.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We do not expect
to pay dividends in the foreseeable future. Any return on investment may be limited to the value of our common stock.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
do not anticipate paying cash dividends on our common stock in the foreseeable future. The payment of dividends on our common stock will
depend on earnings, financial condition and other business and economic factors affecting it at such time as the board of directors may
consider relevant. If we do not pay dividends, our common stock may be less valuable because a return on your investment will occur only
if our stock price appreciates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center; background-color: white"><b>Risks
Related to the Market for our Securities</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>If a market
for our common stock does not develop, stockholders may be unable to sell their shares.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
common stock is quoted under the symbol &#8220;IQST&#8221; on the OTCQX operated by OTC Markets Group, Inc., an electronic inter-dealer
quotation medium for equity securities. . Only a limited market exists for our securities. There is no assurance that a regular trading
market will develop, or if developed, that it will be sustained.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Accordingly,
it may be difficult to sell shares of our common stock without significantly depressing the value of the stock. Unless we are successful
in developing continued investor interest in our stock, sales of our stock could continue to result in major fluctuations in the price
of the stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>The market price
of our common stock is likely to be highly volatile and could fluctuate widely in price in response to various factors, many of which
are beyond our control.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
stock price is subject to a number of factors, including:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="width: 92%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Technological innovations or new products and services by us or our competitors;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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    <td style="width: 92%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Government regulation of our products and services; &#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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    <td style="width: 92%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sales of our common stock; &#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
    <td style="width: 6%">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
    <td style="width: 6%">&#160;</td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
stock price may fluctuate widely as a result of any of the above. In addition, the securities markets have from time to time experienced
significant price and volume fluctuations that are unrelated to the operating performance of particular companies. These market fluctuations
may also materially and adversely affect the market price of our common stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>Because we are
subject to the &#8220;Penny Stock&#8221; rules, the level of trading activity in our stock may be reduced.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
Securities and Exchange Commission has adopted regulations which generally define &#8220;penny stock&#8221; to be any listed,
trading equity security that has a market price less than $5.00 per share or an exercise price of less than $5.00 per share, subject
to certain exemptions. The penny stock rules require a broker-dealer, prior to a transaction in a penny stock not otherwise exempt
from the rules, to deliver a standardized risk disclosure document that provides information about penny stocks and the risks in the
penny stock market. The broker-dealer must also provide the customer with current bid and offer quotations for the penny stock, the
compensation of the broker-dealer and its salesperson in the transaction, and monthly account statements showing the market value of
each penny stock held in the customer&#8217;s account. In addition, the penny stock rules generally require that prior to a
transaction in a penny stock, the broker-dealer make a special written determination that the penny stock is a suitable investment
for the purchaser and receive the purchaser&#8217;s written agreement to the transaction. These disclosure requirements may have the
effect of reducing the level of trading activity in the secondary market for a stock that becomes subject to the penny stock rules
which may increase the difficulty Purchasers may experience in attempting to liquidate such securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>We will likely
conduct further offerings of our equity securities in the future, in which case your proportionate interest may become diluted.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
will likely be required to conduct equity offerings in the future to finance our current projects or to finance subsequent projects that
we decide to undertake. If our common stock shares are issued in return for additional funds, the price per share could be lower than
that paid by our current shareholders. We anticipate continuing to rely on equity sales of our common stock shares in order to fund our
business operations. If we issue additional common stock shares or securities convertible into shares of our common stock, your percentage
interest in us could become diluted.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b><i>If securities
or industry analysts do not publish research or reports about our business, or publish negative reports about our business, our share
price and trading volume could decline.</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
trading market for our common stock will, to some extent, depend on the research and reports that securities or industry analysts publish
about us or our business. We do not have any control over these analysts. If one or more of the analysts who cover us downgrade our shares
or change their opinion of our shares, our share price would likely decline. If one or more of these analysts cease coverage of us or
fail to regularly publish reports on us, we could lose visibility in the financial markets, which could cause our share price or trading
volume to decline.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="text-transform: uppercase"><b><span id="a_008"></span>MANAGEMENT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="text-transform: uppercase"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
following information sets forth the names, ages, and positions of our current directors and executive officers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 50%; border-collapse: collapse; margin-right: auto">
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    <td colspan="3" style="border-bottom: black 1pt solid; text-align: center; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%"><b>Age</b></span></td>
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    <td style="width: 30%; text-align: justify; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Leandro Iglesias</span></td>
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    <td style="width: 1%; text-align: center; line-height: 105%">&#160;</td>
    <td style="width: 10%; text-align: center; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">59</span></td>
    <td style="width: 1%; text-align: center; line-height: 105%">&#160;</td>
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    <td style="width: 56%; text-align: justify; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">President, Chairman, Chief Executive Officer and Director</span></td></tr>
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    <td style="line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Alvaro Quintana Cardona</span></td>
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    <td style="text-align: center; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">53</span></td>
    <td style="text-align: center; line-height: 105%">&#160;</td>
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    <td style="line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Raul Perez</span></td>
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    <td style="text-align: center; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">73</span></td>
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    <td style="line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Jose Antonio Barreto</span></td>
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    <td style="text-align: center; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">66</span></td>
    <td style="text-align: center; line-height: 105%">&#160;</td>
    <td style="text-align: justify; line-height: 105%">&#160;</td>
    <td style="text-align: justify; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Director</span></td></tr>
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    <td style="text-align: justify; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Italo Segnini</span></td>
    <td style="text-align: justify; line-height: 105%">&#160;</td>
    <td style="text-align: center; line-height: 105%">&#160;</td>
    <td style="text-align: center; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">59</span></td>
    <td style="text-align: center; line-height: 105%">&#160;</td>
    <td style="text-align: justify; line-height: 105%">&#160;</td>
    <td style="text-align: justify; line-height: 105%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">Director</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Set
forth below is a brief description of the background and business experience of each of our current executive officers and directors.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Leandro Iglesias</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Before
founding Etelix in year 2008, where he has acted as President and CEO, Mr. Iglesias was the International Business Manager at CANTV/Movilnet
(the Venezuelan biggest telecommunications services provider). He held this position between January 2003 and July 2008, while the company
was under the control of Verizon. Previous to his position in Cantv/Movilnet Mr. Iglesias was Executive Vice President and responsible
of the Latin America marketing division of American Internet Communications (August 1998 &#8211; December 2002). Leandro Iglesias has
developed a career for more than 20 years in the telecommunications industry with a particular emphasis in the international long-distance
traffic business, submarine cables, satellite communications and international roaming services. He is Electronic Engineer graduate from
Universidad Simon Bolivar and graduated from the Management Program at IESA Business School. He also holds an MBA from Universidad Nororiental
Gran Mariscal de Ayacucho.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Aside
from that provided above, Mr. Iglesias does not hold and has not held over the past five years any other directorships in any company
with a class of securities registered pursuant to Section 12 of the Exchange Act or subject to the requirements of Section 15(d) of the
Exchange Act or any company registered as an investment company under the Investment Company Act of 1940.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
believe that Mr. Iglesias is qualified to serve on our Board of Directors because of his wealth of experience in the telecom industry.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Alvaro Quintana Cardona</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Alvaro
Quintana has developed a career of more than twenty years of experience in the telecommunication industry with particular focus on regulatory
affairs, strategic planning, value added services and international interconnection agreements. Before joining Etelix in year 2013 as
Chief Operation Officer and Chief Financial Officer, Mr. Quintana acted between June 2004 and May 2013 as Interconnection and Value-Added
Services Manager at Digitel (a mobile service provider in Venezuela, formerly a Telecom Italia Mobile subsidiary). He holds a Bachelor
Degree in Business Administration and a Specialist Degree in Economics, both from the Universidad Catolica Andres Bello. He also holds
a Master in Telecommunications from the EOI Business School in Spain.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Aside
from that provided above, Mr. Quintana does not hold and has not held over the past five years any other directorships in any
company with a class of securities registered pursuant to Section 12 of the Exchange Act or subject to the requirements of Section
15(d) of the Exchange Act or any company registered as an investment company under the Investment Company Act of 1940.</p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
believe that Mr. Quintana is qualified to serve on our Board of Directors because of his wealth of experience in the telecom industry.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Raul A Perez</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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 style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Jose Antonio Barreto</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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 style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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 style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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 style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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: 12pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Italo R. Segnini
</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Mr.
Segnini is a long time Telecommunicaction 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 Pontificia Comillas University and an MBA from IESA Business School</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Term of Office</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
Directors are appointed for a one-year term to hold office until the next annual general meeting of our stockholders or until removed
from office in accordance with our bylaws. Our officers are appointed by our board of directors and hold office until removed by the board,
subject to their respective employment agreements.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Significant Employees</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have no significant employees other than our officers and directors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Family Relationships</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">There
are no family relationships between or among the directors, executive officers or persons nominated or chosen by us to become directors
or executive officers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Involvement in Certain
Legal Proceedings</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">During
the past 10 years, none of our current directors, nominees for directors or current executive officers has been involved in any legal
proceeding identified in Item 401(f) of Regulation S-K, including:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">1. Any petition
under the Federal bankruptcy laws or any state insolvency law filed by or against, or a receiver, fiscal agent or similar officer was
appointed by a court for the business or property of such person, or any partnership in which he or she was a general partner at or within
two years before the time of such filing, or any corporation or business association of which he or she was an executive officer at or
within two years before the time of such filing;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">2. Any conviction
in a criminal proceeding or being named a subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">3. Being subject
to any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently
or temporarily enjoining him or her from, or otherwise limiting, the following activities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">i. Acting as a
futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or
as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with
such activity;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">ii. Engaging in
any type of business practice; or</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">iii. Engaging in
any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State
securities laws or Federal commodities laws;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">4. Being subject
to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending
or otherwise limiting for more than 60 days the right of such person to engage in any type of business regulated by the Commodity Futures
Trading Commission, securities, investment, insurance or banking activities, or to be associated with persons engaged in any such activity;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">5. Being found
by a court of competent jurisdiction in a civil action or by the SEC to have violated any Federal or State securities law, and the judgment
in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">6. Being found by a
court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities
law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed,
suspended or vacated;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 12pt; text-align: justify; background-color: white">7. Being subject
to, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended
or vacated, relating to an alleged violation of:</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
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    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">i. </span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any Federal or State securities or commodities law or regulation; or</span></td>
    <td style="width: 33px">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or</span></td>
    <td>&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">8. Being subject to,
or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined
in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29) of the Commodity
Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary authority over
its members or persons associated with a member.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Director Independence</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
Board of Directors reviews the independence of our directors on the basis of standards adopted by the NASDAQ Stock Market (&#8220;NASDAQ&#8221;).
As a part of this review, the Board of Directors considers transactions and relationships between our company, on the one hand, and each
director, members of the director&#8217;s immediate family, and other entities with which the director is affiliated, on the other hand.
The purpose of such a review is to determine which, if any, of such transactions or relationships were inconsistent with a determination
that the director is independent under NASDAQ rules. As a result of this review, the Board of Directors has determined that each of Messrs.
Perez, Barreto and Segnini are &#8220;independent directors&#8221; within the meaning of applicable NASDAQ listing standards.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Committees of the
Board</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On August 25, 2021, the Board
authorized the creation of an&#160;Audit Committee. Raul Perez (chair), Italo Segnini and Jose Antonio Barreto were appointed to serve
on the&#160;Audit Committee.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Each of Messrs Perez, Segnini
and Barreto have been determined by the Board to be independent directors within the meaning of NASDAQ Rule 5605. Mr. Perez was identified
and designated by the Board as an &#8220;audit committee&#160;financial expert,&#8221; as defined by the SEC in Item 407 of Regulation
S-K.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
November 17, 2022, we authorized the creation of a Compensation Committee. The Compensation Committee&#8217;s responsibilities, which
are discussed in detail in its Charter, include the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <td style="vertical-align: top; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In consultation with our senior management, establish our general compensation philosophy and oversee the development and implementation of our compensation programs;</span></td>
    <td style="vertical-align: bottom; width: 33px">&#160;</td></tr>
  <tr>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recommend the base salary, incentive compensation and any other compensation for our Chief Executive Officer to the Board of Directors and review and approve the Chief Executive Officer&#8217;s recommendations for the compensation of all other officers of our company and its subsidiary;</span></td>
    <td style="vertical-align: bottom">&#160;</td></tr>
  <tr>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administer our incentive and stock-based compensation plans, and discharge the duties imposed on the Compensation Committee by the terms of those plans;</span></td>
    <td style="vertical-align: bottom">&#160;</td></tr>
  <tr>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Review and approve any severance or termination payments proposed to be made to any current or former officer of our company; and</span></td>
    <td style="vertical-align: bottom">&#160;</td></tr>
  <tr>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Perform other functions or duties deemed appropriate by the Board of Directors.</span></td>
    <td style="vertical-align: bottom">&#160;</td></tr>
  </table>
<p style="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
Committee is comprised of, Raul Perez, Jose Antonio Barreto, and Italo Segnini, with Mr. Segnini serving as Chairperson. Each of Messrs.
Perez, Barreto and Segnini have been determined by the Board to be an independent director within the meaning of NASDAQ Rule 5605.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
June 12, 2023, our Board of Directors adopted a charter for our newly created Nominating and Governance Committee (the &#8220;Committee&#8221;).
The Committee is responsible for the oversight of our director nominations process, including recommending nominees to the Board of Directors
for approval and for the development and maintenance of our corporate governance policies.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
Board of Directors appointed the following persons to the Committee: Raul Perez, Jose Antonio Barreto and Italo Segnini, with Mr. Barreto
serving as Chairperson.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><span style="letter-spacing: -0.1pt"><b>Section
16(a) Beneficial Ownership Reporting Compliance</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="letter-spacing: -0.1pt">Section
16(a) of the Exchange Act requires our directors and executive officers and persons who beneficially own more than ten percent of a registered
class of the Company&#8217;s equity securities to file with the SEC initial reports of ownership and reports of changes in ownership of
common stock and other equity securities of the Company. Officers, directors and greater than ten percent beneficial stockholders are
required by SEC regulations to furnish us with copies of all Section 16(a) forms they file. To the best of our knowledge based solely
on a review of Forms 3, 4, and 5 (and any amendments thereof) received by us, no persons have failed to file, on a timely basis, the identified
reports required by Section 16(a) of the Exchange Act during fiscal year ended December 31, 2024. </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><span style="letter-spacing: -0.1pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Code of Ethics</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
October 31, 2022, our Board of Directors approved and adopted a Code of Business Conduct and Ethics (the &#8220;Code of Ethics&#8221;).
The Code of Ethics is applicable to all directors, officers and employees of our company, our company&#8217;s subsidiaries and any subsidiaries
that may be formed in the future. The Code of Ethics addresses such individuals&#8217; conduct with respect to, among other things, conflicts
of interests; compliance with applicable laws, rules, and regulations; full, fair, accurate, timely, and understandable disclosure; competition
and fair dealing; corporate opportunities; confidentiality; insider trading; protection and proper use of our assets; fair treatment;
and reporting suspected illegal or unethical behavior.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">A
copy of our Code of Ethics is posted on our website at http://iqstel.com/. We will make any legally required disclosures regarding amendments
to, or waivers of, provisions of our Code of Business Conduct and Ethics on our website. The reference to the iQSTEL website address does
not constitute incorporation by reference of the information contained at or available through our website, and you should not consider
it to be part of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="letter-spacing: -0.15pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="letter-spacing: -0.15pt"><b></b></span></p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><span id="a_009"></span>EXECUTIVE
COMPENSATION</b></span><span style="font-size: 8pt">&#160;&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="text-transform: uppercase"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-indent: 0.5in">The table below summarizes all compensation awarded
to, earned by, or paid to our former or current executive officers for the fiscal years ended December 31, 2024 and 2023.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="border: black 1pt solid; width: 36%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Name and principal</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Position</b></p></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Year</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 11pt Arial, Helvetica, Sans-Serif; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Salary ($)</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 7%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Bonus</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 10%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Stock</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Awards</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 10%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Option</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Awards</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 15%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>All Other</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Compensation</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($) (1)(2)</b></p></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 10%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Total</b></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>($)</b></p></td></tr>
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    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: bottom">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Leandro Iglesias</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>President, CEO and Director</i></p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2024</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2023</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">432,000</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">240,000</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">432,000</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">240,000</p></td></tr>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Treasury, Secretary and Director</i></p></td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2024</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2023</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">324,000</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">144,000</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">324,000</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">144,000</p></td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: bottom">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">Juan Carlos L&#243;pez</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Chief Commercial Officer(1)</i></p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2024</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">2023</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">60,000</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">-</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b>&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; margin: 0 auto; width: 90%; background-color: white"><tr style="vertical-align: top">
<td style="width: 2.65pt"/><td style="width: 18pt"><span style="font-size: 10pt"><b>(1)</b></span></td><td style="text-align: justify"><span style="font-size: 10pt">On March 1, 2024, Juan Carlos Lopez Silva resigned from his position as
Chief Commercial Officer of the Company. Mr. Lopez will formally assume the position of CEO of the IQSTEL subsidiaries, Etelix and SwissLink,
a position that he has been holding as interim in recent months. The existing employment agreement Mr. Lopez has with the Company will
remain in effect with the change in position. </span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 20.65pt; text-align: justify; background-color: white"><b>&#160;</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 20.65pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 20.65pt; text-align: justify; background-color: white"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">On May 2, 2019, the
Company entered into Employment Agreements with the following persons: (i) Leandro Iglesias as President, CEO and Chairperson of the Company&#8217;s
Board of Directors with an annual salary of $168,000 with an annual bonus of 3% of our net income; (ii) Juan Carlos Lopez Silva as Chief
Commercial Officer with an annual salary of $120,000 with an annual bonus of 3% of our net income; and Alvaro Quintana Cardona as Chief
Operating Officer and Chief Financial Officer with an annual salary of $144,000 with an annual bonus of 3% of our net income. The Employment
Agreements have a term of 36 months, are renewable automatically for 24-month periods, unless the Company gives written notice at least
90 days prior to termination of the initial 36-month term. The Company shall have the right to terminate any of the employment agreements
at any time without prior notice, but in that event, the Company shall pay these persons salaries and other benefits they are entitled
to receive under their respective agreements for three years. The above executive officers agreed to two year non-compete and non-solicit
restrictive covenants with the Company. If any of the executive officers are terminated for cause they shall forfeit any rights to severance.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">On November 1, 2020,
our board of directors approved amended employments in favor of our Chief Executive Officer, Leandro Iglesias, our Chief Financial Officer,
Alvaro Quintana, and our Chief Commercial Officer, Juan Carlos Lopez Silva.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">The amended employment
agreement in favor of Mr. Iglesias extended the term of employment from 36 months to 60 months. The now five year employment agreement
with Mr. Iglesias provides that we will compensate him with a salary of $17,000 monthly and he is eligible for quarterly bonus of 250,000
shares of our common stock. If we do not have the cash available, the agreement provides that Mr. Iglesias may convert his accrued salary/bonus
into shares of our common stock or newly created Series A Preferred Stock. For common shares, the amount of accrued salary to be converted
into shares must be determined by considering the average price per share of the Company&#8217;s common stock on the OTC Markets during
the last 10 days and applying a discount of 25%.&#8221; For Series A Preferred Shares, the amount of accrued salary to be converted into
shares is the per share conversion price for common shares multiplied by ten US Dollars ($10). Mr. Iglesias has a further right to convert
any common shares under his control into Series A Preferred shares at any time at a rate of ten (10) common shares for each Series A Preferred
share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">The amended employment
agreement in favor of Mr. Quintana extended the term of employment from 36 months to 60 months. The now five year employment agreement
with Mr. Quintana provides that he is eligible for quarterly bonus of 200,000 shares of our common stock. If we do not have the cash available,
the agreement provides that Mr. Quintana may convert his accrued salary/bonus into shares of our common stock or newly created Series
A Preferred Stock. For common shares, the amount of accrued salary to be converted into shares must be determined by considering the average
price per share of the Company&#8217;s common stock on the OTC Markets during the last 10 days and applying a discount of 25%.&#8221;
For Series A Preferred Shares, the amount of accrued salary to be converted into shares is the per share conversion price for common shares
multiplied by ten US Dollars ($10). Mr. Quintana has a further right to convert any common shares under his control into Series A Preferred
shares at any time at a rate of ten (10) common shares for each Series A Preferred share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">The amended employment
agreement in favor of Mr. Silva extended the term of employment from 36 months to 60 months. Mr. Silva is eligible for quarterly bonuses
of 150,000 shares of our common stock. If we do not have the cash available, the agreement provides that Mr. Silva may convert his accrued
salary/bonus into shares of our common stock at the average price of our common stock during the last 10 days after applying a discount
of 25%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">On February 29, 2024,
our board of directors approved amended and restated employment and indemnification agreements in favor of our Chief Executive Officer,
Leandro Jose Iglesias and our Chief Financial Officer, Alvaro Quintana Cardona, to replace their existing agreements. The agreements are
effective as of January 1, 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">The new five year
employment agreement with Mr. Iglesias provides that we will compensate him with a salary of $31,000 monthly and he is eligible for a
bonus as follows: (i) up to two months of salary on a yearly basis, (ii) up to 4% of our net income on a yearly basis, and (iii) up to
1,000,000 shares of our common stock, a determined by our board of directors, all payable 15 days after our annual report is filed. If
we do not have the cash available, the agreement provides that Mr. Iglesias may convert his accrued salary/bonus into shares of our common
stock at the average price of our common stock during the last 10 days after applying a discount of 25%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">Mr. Iglesias agreed
to two year non-compete and non-solicit restrictive covenants. If Mr. Iglesias is terminated for cause he shall forfeit any rights to
severance, which is available to him in the event of termination without cause.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 13.5pt">The new five year
employment agreement with Mr. Quintana provides that we will compensate him with a salary of $22,000 monthly and he is eligible for a
bonus as follows: (i) up to two months of salary on a yearly basis, (ii) up to 4% of our net income on a yearly basis, and (iii) up to
800,000 shares of our common stock, a determined by our board of directors, all payable 15 days after our annual report is filed. If we
do not have the cash available, the agreement provides that Mr. Cardona may convert his accrued salary/bonus into shares of our common
stock at the average price of our common stock during the last 10 days after applying a discount of 25%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: 2.5pt; background-color: white">Mr.
Quintana agreed to two year non-compete and non-solicit restrictive covenants. If Mr. Quintana is terminated for cause he shall forfeit
any rights to severance, which is available to him in the event of termination without cause.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Option Grants</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have not granted any options or stock appreciation rights to our named executive officers or directors since inception. We do not have
any stock option plans.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Compensation of Directors</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">All
Directors shall receive reimbursement for reasonable travel expenses incurred to attend Board and committee meetings.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Effective
on July 1, 2021 and thereafter, all Directors shall be compensated monthly up to 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 style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">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%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Effective
on January 1, 2024, and thereafter, all Directors shall be compensated monthly with 10,000 shares of common stock cash of $2,500 for their
service as Directors. The Chairman and Secretary of the&#160;Board&#160;shall receive an additional $2,500 per month in addition to the
Director&#160;compensation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 25pt; text-align: justify; text-indent: 0.5in">Each Director shall also
be entitled to a bonus of up to 1% of our net income on a yearly basis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">In
lieu of the cash&#160;compensation&#160;set forth above, each Director may elect to receive shares of our Common Stock equal to the total
cash&#160;compensation&#160;divided by the average market value of the Company's Common Stock during the last 10 trading days and applying
a discount of 25%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Pension, Retirement
or Similar Benefit Plans</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">There
are no arrangements or plans in which we provide pension, retirement or similar benefits to our directors or executive officers. We have
no material bonus or profit sharing plans pursuant to which cash or non-cash compensation is or may be paid to our directors or executive
officers, except that stock options may be granted at the discretion of the board of directors or a committee thereof.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Compensation Committee</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
do not currently have a compensation committee of the board of directors or a committee performing similar functions. The board of directors
as a whole participates in the consideration of executive officer and director compensation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Indebtedness of Directors,
Senior Officers, Executive Officers and Other Management</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">None
of our directors or executive officers or any associate or affiliate of our company during the last two fiscal years is or has been indebted
to our company by way of guarantee, support agreement, letter of credit or other similar agreement or understanding currently outstanding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><span id="a_010"></span>CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</b></span><span style="font-size: 8pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Other than described below
or the transactions described under the heading &#8220;Executive Compensation&#8221; (or with respect to which such information is omitted
in accordance with SEC regulations), there have not been, and there is not currently proposed, any transaction or series of similar transactions
to which we were or will be a participant in which the amount involved exceeded or will exceed the lesser of $120,000 or one percent of
the average of our total assets at year-end for the last two completed fiscal years, and in which any director, executive officer, holder
of 5% or more of any class of our capital stock or any member of the immediate family of any of the foregoing persons had or will have
a direct or indirect material interest.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b><i>Due from related party</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">During the years ended December 31, 2024
and 2023, the Company loaned $89,832 and $192,154 to a related party and collected $33,602 and $79,649, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">As of December 31, 2024 and 2023, the Company
had amounts due from related parties of $630,715 and $340,515, respectively. The loans are unsecured, non-interest bearing and due on
demand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b><i>Due to related parties</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">As of December 31, 2024 and 2023, the Company
had amounts due to related parties of $26,613. The amounts are unsecured, non-interest bearing and due on demand.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><b><span id="a_011"></span>PRINCIPAL
STOCKHOLDERS</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span><span style="font-size: 8pt">&#160;&#160;</span></p>

<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
following table sets forth, as of April 1, 2025, certain information as to shares of our voting stock owned by (i) each person known
by us to beneficially own more than 5% of our outstanding voting stock, (ii) each of our directors, and (iii) all of our executive officers
and directors as a group.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Unless
otherwise indicated below, to our knowledge, all persons listed below have sole voting and investment power with respect to their shares
of voting stock, except to the extent authority is shared by spouses under applicable law. Unless otherwise indicated below, each entity
or person listed below maintains an address of&#160;<span style="letter-spacing: -0.15pt">300 Aragon Avenue, Suite 375, Coral Gables,
FL 33134.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-indent: 0.5in; background-color: white"><span style="letter-spacing: -0.15pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
number of shares beneficially owned by each stockholder is determined under rules promulgated by the SEC. The information is not necessarily
indicative of beneficial ownership for any other purpose. Under these rules, beneficial ownership includes any shares as to which the
individual or entity has sole or shared voting or investment power and any shares as to which the individual or entity has the right to
acquire beneficial ownership within 60&#160;days through the exercise of any stock option, warrant or other right. The inclusion in the
following table of those shares, however, does not constitute an admission that the named stockholder is a direct or indirect beneficial
owner.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name of Beneficial Owner</b></span></td>
    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="width: 1%; line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,331,842</span></td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.6320</span></td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">210,000</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0997</span></td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">60,000</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0285</span></td>
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  <tr style="vertical-align: bottom; background-color: white">
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    <td style="border-bottom: Black 1pt solid; line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,907,205</span></td>
    <td style="border-bottom: Black 1pt solid; line-height: 107%"/>
    <td style="border-bottom: Black 1pt solid; line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right; line-height: 11.55pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.8543</span></td>
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  </table>

<p style="margin-top: 0; margin-bottom: 0">&#160;</p>

<p style="margin-top: 0; margin-bottom: 0"></p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"></p>

<!-- Field: Page; Sequence: 44 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 6pt; margin-bottom: 6pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font-size: 10pt"><tr style="vertical-align: top; text-align: left"><td style="width: 33%">&#160;</td><td style="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></td><td style="width: 33%; text-align: right">&#160;</td></tr></table></div>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td colspan="7" style="text-align: center; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Series A Preferred Stock(4)</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name of Beneficial Owner</b></span></td>
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    <td style="width: 1%; line-height: 107%">&#160;</td>
    <td style="width: 1%; line-height: 107%">&#160;</td>
    <td style="width: 14%; text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,000</span></td>
    <td style="width: 1%; line-height: 107%">&#160;</td>
    <td style="width: 1%; line-height: 107%">&#160;</td>
    <td style="width: 1%; line-height: 107%">&#160;</td>
    <td style="width: 8%; text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">70.00</span></td>
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  <tr style="vertical-align: bottom; background-color: white">
    <td style="line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alvaro Quintana Cardona</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,000</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raul Perez</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;&#160;</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;&#160;</span></td>
    <td style="line-height: 107%">&#160;</td></tr>
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    <td style="line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jose Antonio Barreto</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;&#160;</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
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    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italo Segnini</span></td>
    <td style="line-height: 107%">&#160;</td>
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    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;&#160;</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;&#160;</span></td>
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    <td style="line-height: 107%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right; line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,000</span></td>
    <td style="border-bottom: Black 1pt solid; line-height: 107%">&#160;</td>
    <td style="border-bottom: Black 1pt solid; line-height: 107%">&#160;</td>
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  </table>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td style="line-height: 107%">&#160;</td>
    <td style="border-bottom: black 1pt solid; line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; line-height: 107%">&#160;</td></tr>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
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    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="line-height: 11.75pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">* Less than 1%</span></td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td>
    <td style="text-align: right; line-height: 107%">&#160;</td>
    <td style="line-height: 107%">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">(1) Unless otherwise
indicated, each person or entity named in the table has sole voting power and investment power (or shares that power with that person&#8217;s
spouse) with respect to all shares of voting stock listed as owned by that person or entity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">(2) Pursuant to
Rules 13d-3 and 13d-5 of the Exchange Act, beneficial ownership includes any shares as to which a shareholder has sole or shared voting
power or investment power, and also any shares which the shareholder has the right to acquire within 60 days, including upon exercise
of common shares purchase options or warrants. The percent of class is based on 210,710,170 voting shares as of April 1, 2025</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">(3) Pursuant to
Rules 13d-3 and 13d-5 of the Exchange Act, beneficial ownership includes any shares as to which a shareholder has sole or shared voting
power or investment power, and also any shares which the shareholder has the right to acquire within 60 days, including upon exercise
of common shares purchase options or warrants. The percent of class is based on 10,000 voting shares as of April 1, 2025.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">(4) Under the Certificate
of Designation, holders of Series A Preferred Stock will participate on an equal basis per-share with holders of our common stock in any
distribution upon winding up, dissolution, or liquidation. Holders of Series A Preferred Stock are entitled to vote together with the
holders of our common stock on all matters submitted to shareholders at a rate of 51% of the total vote of shareholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">(5) There are 210,710,170
total shares of common stock outstanding entitled to one vote per share. Holders of Series A Preferred Stock are entitled to vote together
with the holders of our common stock on all matters submitted to shareholders at a rate of 51% of the total vote of shareholders, including
the election of directors. Our common stock is entitled to one vote per share on all matters submitted to a vote of the stockholders,
including the election of directors. As a result of voting feature of the Series A Preferred Stock, there are 210,710,170 votes represented
by the common stock, which means that there are approximately 219,310,585 votes available to the holders of the 10,000 shares of Series
A Preferred Stock for 51% of the total vote. Combining the common stock and the Series A Preferred Stock, there are a total of 430,020,755
votes that may be cast.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_012"></span>DESCRIPTION
OF CAPITAL STOCK</b></span><span style="font-size: 8pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
authorized capital stock consists of 300,000,000 shares of common stock, with a par value of $0.001 per share, and 1,200,000 shares of
preferred stock, with a par value of $0.001 per share. As of the date of this prospectus, there were 210,710,170 shares of our common
stock issued and outstanding, 10,000 shares of Series A Preferred Stock issued and outstanding, 35,537 shares of Series B Preferred Stock
issued and outstanding , 0 shares of Series C Preferred Stock issued and outstanding and 0 shares of our Series D Preferred Stock issued
and outstanding. Our shares of common stock are held by 80  stockholders of record.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Common Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
common stock is entitled to one vote per share on all matters submitted to a vote of the stockholders, including the election of directors.
The holders of our common stock possess all voting power. Generally, all matters to be voted on by stockholders must be approved by a
majority (or, in the case of election of directors, by a plurality) of the votes entitled to be cast by all shares of our common stock
that are present in person or represented by proxy, subject to any voting rights granted to holders of any preferred stock. Holders of
our common stock representing a majority of our capital stock issued, outstanding and entitled to vote, represented in person or by proxy,
are necessary to constitute a quorum at any meeting of our stockholders. A vote by the holders of a majority of our outstanding shares
is required to effectuate certain fundamental corporate changes such as liquidation, merger or an amendment to our Articles of Incorporation.
Our Articles of Incorporation do not provide for cumulative voting in the election of directors.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Preferred Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
board of directors may become authorized to authorize preferred shares of stock and to divide the authorized shares of our preferred stock
into one or more series, each of which must be so designated as to distinguish the shares of each series of preferred stock from the shares
of all other series and classes. Our board of directors is authorized, within any limitations prescribed by law and our articles of incorporation,
to fix and determine the designations, rights, qualifications, preferences, limitations and terms of the shares of any series of preferred
stock including, but not limited to, the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">1. The number
of shares constituting that series and the distinctive designation of that series, which may be by distinguishing number, letter or title;
&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">2. The dividend
rate on the shares of that series, whether dividends will be cumulative, and if so, from which date(s), and the relative rights of priority,
if any, of payment of dividends on shares of that series; &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">3. Whether that
series will have voting rights, in addition to the voting rights provided by law, and, if so, the terms of such voting rights; &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">4. Whether that
series will have conversion privileges, and, if so, the terms and conditions of such conversion, including provision for adjustment of
the conversion rate in such events as the Board of Directors determines; &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">5. Whether or
not the shares of that series will be redeemable, and, if so, the terms and conditions of such redemption, including the date or date
upon or after which they are redeemable, and the amount per share payable in case of redemption, which amount may vary under different
conditions and at different redemption dates; &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">6. Whether that
series will have a sinking fund for the redemption or purchase of shares of that series, and, if so, the terms and amount of such sinking
fund; &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">7. The rights
of the shares of that series in the event of voluntary or involuntary liquidation, dissolution or winding up of the corporation, and the
relative rights of priority, if any, of payment of shares of that series; and &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; text-indent: -27pt; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 45pt; text-align: justify; background-color: white">8. Any other
relative rights, preferences and limitations of that series. &#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>&#160;</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Series A Preferred
Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
November 3, 2020, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred
stock entitled Series A Preferred Stock, consisting of up 10,000 shares, par value $0.001. Under the Certificate of Designation, holders
of Series A Preferred Stock will participate on an equal basis per-share with holders of our common stock in any distribution upon winding
up, dissolution, or liquidation. Holders of Series A Preferred Stock are entitled to vote together with the holders of our common stock
on all matters submitted to shareholders at a rate of 51% of the total vote of shareholders.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Series B Preferred
Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
November 11, 2020, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred
stock entitled Series B Preferred Stock, consisting of up 200,000 shares, par value $0.001. Under the Certificate of Designation, holders
of Series B Preferred Stock will receive $81 per share in any distribution upon winding up, dissolution, or liquidation before junior
security holders. Holders of Series B Preferred Stock are entitled to receive as, when, and if declared by the Board of Directors, dividends
in kind at an annual rate equal to twenty four percent (24%) of $81 per share for each of the then outstanding shares of Series B Preferred
Stock, calculated on the basis of a 360-day year consisting of twelve 30-day months. Holders of Series B Preferred Stock do not have voting
rights but may convert into common stock after twelve months from the issuance date. Upon conversion, the shares are subject to a one-year
leak-out restriction on sales into the market of no more than 5% previous month&#8217;s stock liquidity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
January 15, 2021, we entered into Conversion Agreements with Leandro Iglesias, our Chief Executive Officer and director, Alvaro Quintana,
Chief Financial Officer and director, and Juan Carlos Lopez, our Chief Commercial Officer, pursuant to which we agreed to convert 21,000,000
shares of common stock from each officer into 21,000 shares of our Series B Preferred Stock, as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholders</b></span></td>
    <td style="width: 33%">
    <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Number of Shares of Common</b></p>
    <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Stock Converting Into Series B Preferred Stock</b></p></td>
    <td style="width: 26%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>Number of shares of Series B Preferred Stock acquired in conversion</b></span></td>
    <td style="width: 26%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 9pt"><b>Number of shares of Serie B Preferred Stock received as dividend</b></span></td></tr>
  <tr style="vertical-align: top; background-color: #CCEEFF">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Leandro Iglesias</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,200,000</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,200</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">11,061</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alvaro Cardona</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,300,000</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,300</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">4,805</span></td></tr>
  <tr style="vertical-align: top; background-color: #CCEEFF">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Juan Carlos Lopez</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,500,000</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,500</span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">3,173</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total</b></span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21,000,000</b></span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>21,000</b></span></td>
    <td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>19,039</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
parties entered into these Conversion Agreements to, among other things, allow more common stock to be available for future issuances
in connection with note conversions and as a means to lock-up the shares of common stock underlying the Series B Preferred held by our
officers from trading and to establish a leak-out agreement upon any future conversions back to common stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Series C Preferred
Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">On
January 7, 2021, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred
stock entitled Series C Preferred Stock, consisting of up 200,000 shares, par value $0.001. Under the Certificate of Designation, holders
of Series C Preferred Stock will rank junior to the Series B Preferred Stock, but on par with common stock and Series A Preferred Stock
in any distribution upon winding up, dissolution, or liquidation of the company, as provided in the designation. The holders of shares
of Series C Preferred Stock have no dividend rights except as may be declared by the Board in its sole and absolute discretion, out of
funds legally available for that purpose. Holders of Series C Preferred Stock do not have voting rights but may convert into common stock
after twenty four months from the issuance date, at a conversion rate of one thousand (1,000) shares of Common Stock for every one (1)
share of Series C Preferred Stock. Upon conversion, the shares are subject to a one-year leak-out restriction on sales into the market
of no more than 5% previous month&#8217;s stock liquidity.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Series D Preferred
Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">On November 3, 2023, pursuant
to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series
D Preferred Stock, consisting of up 75,000 shares, par value $0.001. Under the Certificate of Designation, in the event of any dissolution,
liquidation or winding up of the Corporation, the Holders of Series D Preferred Stock shall be entitled to participate in any distribution
out of the assets of the Corporation before the holders of the Common Stock, Series A Preferred Stock and Series C Preferred Stock, but
shall be considered on parity to the liquidation rights of the Series B Preferred Stockholders. The holders of shares of Series D Preferred
Stock have no dividend rights except as may be declared by the Board in its sole and absolute discretion, out of funds legally available
for that purpose. Holders of Series D Preferred Stock do not have voting rights but may convert into common stock at a conversion rate
of one thousand (1,000) shares of Common Stock for every one (1) share of Series D Preferred Stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Dividend Policy</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">We
have never declared or paid any cash dividends on our common stock. We currently intend to retain future earnings, if any, to finance
the expansion of our business. As a result, we do not anticipate paying any cash dividends in the foreseeable future.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Nevada Anti-Takeover
Laws</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Nevada
Revised Statutes sections 78.378 to 78.379 provide state regulation over the acquisition of a controlling interest in certain Nevada corporations
unless the articles of incorporation or bylaws of the corporation provide that the provisions of these sections do not apply. Our articles
of incorporation and bylaws do not state that these provisions do not apply. The statute creates a number of restrictions on the ability
of a person or entity to acquire control of a Nevada company by setting down certain rules of conduct and voting restrictions in any acquisition
attempt, among other things. The statute is limited to corporations that are organized in the state of Nevada and that have 200 or more
stockholders, at least 100 of whom are stockholders of record and residents of the State of Nevada; and does business in the State of
Nevada directly or through an affiliated corporation. Because of these conditions, the statute currently does not apply to our company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Listing of Common
Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">Our
Common Stock is currently quoted on the OTCQX under the trading symbol &#8220;IQST.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Transfer Agent and
Registrar</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
transfer agent and registrar of our Common Stock is VStock Transfer, LLC.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white"><b>Penny Stock Regulation</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">The
SEC has adopted regulations which generally define &#8220;penny stock&#8221; to be any equity security that has a market price (as defined)
of less than $5.00 per share or an exercise price of less than $5.00 per share. Such securities are subject to rules that impose additional
sales practice requirements on broker-dealers who sell them. For transactions covered by these rules, the broker-dealer must make a special
suitability determination for the purchaser of such securities and have received the purchaser&#8217;s written consent to the transaction
prior to the purchase. Additionally, for any transaction involving a penny stock, unless exempt, the rules require the delivery, prior
to the transaction, of a disclosure schedule prepared by the SEC relating to the penny stock market. The broker-dealer also must disclose
the commissions payable to both the broker-dealer and the registered representative, current quotations for the securities and, if the
broker-dealer is the sole market-maker, the broker-dealer must disclose this fact and the broker-dealer&#8217;s presumed control over
the market. Finally, among other requirements, monthly statements must be sent disclosing recent price information for the penny stock
held in the account and information on the limited market in penny stocks. As the Shares immediately following this Offering will likely
be subject to such penny stock rules, purchasers in this Offering will in all likelihood find it more difficult to sell their Shares in
the secondary market.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center; background-color: white"><b><span id="a_013"></span>PRIVATE PLACEMENT
OF NOTE AND OPTION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center; background-color: white">&#160;</p>

<p style="font: 12pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 25pt; margin-left: 25pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 14, 2025, we issued a Common Stock Purchase Option (the &#8220;Option&#8221;) to&#160;ADI Funding LLC (&#8220;ADI Funding&#8221;)
under a Stock Purchase Agreement for $100,000 that expires on July 14, 2025, for the right to acquire up to 15,000,000 shares of common
stock. The exercise price per share of the common stock under the Option shall be 70% of the VWAP of the common stock during the then
10 Trading Days immediately preceding but not including the date of exercise. The obligation to exercise each specified portion of the
Option is subject to the exercise price, being not less than $0.11 per share on the relevant Option exercise date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 25pt; margin-left: 25pt">ADI Funding
has the right and the obligation to exercise, on a &#8220;cash basis,&#8221; not less than 2,000,000 of the Option shares not later than
15 days after an effective registration statement permitting the issuance of the Option shares to or resale of the Option shares by ADI
Funding. From and after the occurrence of the above-referenced exercise, each additional exercise of Options hereunder shall be in an
amount not less than 1,000,000 shares and shall be exercised only on a cash basis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 25pt; margin-left: 25pt">Exercises
are required to be made in recognition of ADI Funding&#8217;s beneficial ownership limitation of 4.99% of our outstanding common stock,
which upon notice may be increased to 9.99%.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 25pt; margin-left: 25pt">If we issued
securities less than the exercise price option, ADI Funding has a right to also use that lesser price in the exercise of its Option. The
Option also contains rights to any company distributions and consideration in fundamental transactions, subject to the beneficial ownership
limitation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-right: 25pt; margin-left: 25pt; text-indent: 0.5in">We also
entered into a Registration Rights Agreement with ADI Funding to register the resale shares underlying the Option with the Securities
and Exchange Commission.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_014"></span>USE OF PROCEEDS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">We will receive cash from
the sale of the Option, if exercised, which we intend to use as working capital.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_015"></span>SELLING SHAREHOLDER</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">The shares of common stock
being offered by the Selling Shareholder are those currently held by the Selling Shareholder and those issuable to the Selling Shareholder
pursuant to the terms of the Note and Option.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">For purposes of this prospectus,
&#8220;Selling Shareholder&#8221; mean the shareholder listed below and its permitted transferees, pledgees, assignees, distributees,
donees or successors or others who later hold any of the Selling Shareholder&#8217;s interests in the securities. To the extent required,
we will file a supplement to this prospectus (or a post-effective amendment hereto, if necessary) to name successors to the named selling
shareholder who are able to use this prospectus to resell the common shares registered hereby.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">Except for the ownership
of the Option, the Selling Shareholder has not had any material relationship with us within the past three years.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">The table below lists
the Selling Shareholder and other information regarding the beneficial ownership of the shares of common stock by each of the Selling
Shareholder. The second column lists the number of shares of common stock beneficially owned by the Selling Shareholder, based on its
ownership of the shares of common stock, the Option, as of the date of this prospectus, assuming full exercise of the Option held by the
Selling Shareholder on that date, without regard to any limitation on conversion.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">In accordance with the
terms of the Registration Rights Agreement with the holder of the agreement to register the shares underlying the Option, this prospectus
generally covers the resale of that number of shares of common stock equal to the number of shares of common stock currently held by the
Selling Shareholder and the number of shares of common stock issuable upon exercise of the Option, until all of the shares may be sold
without any restrictions pursuant to Rule 144 of the Securities Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">The amounts listed in
the third and fourth columns reflect the number of shares being offered by the Selling Shareholder and the number of shares remaining
following the sale of such shares, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 25pt">Under the terms of the
Option, the Selling Shareholder may not be issued shares of common stock to the extent such issuance would cause such selling shareholder,
together with its affiliates and attribution parties and any group of which it is a member, to beneficially own a number of shares of
common stock which would exceed 4.99% of our then outstanding common stock following such issuance. The number of shares in the second
and fourth columns do not reflect this limitation. The Selling Shareholder may sell all, some or none of their shares in this offering.
See &#8220;Plan of Distribution.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Name and Address of Selling Shareholder</b></span></td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Number of Shares of Common Stock<br/>
Owned Prior to Offering (1)</b></span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Maximum<br/>
Number of Shares of Common Stock to be Sold Pursuant to this Prospectus</b></span></td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shares of<br/>
Common Stock to be Owned After Offering (1)</b></span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
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    <td style="width: 1%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 13%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;&#160;</span></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 27%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15,000,000</span></td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 16%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0%</span></td>
    <td style="width: 1%">&#160;</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 7%">&#160;</td>
    <td style="width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="width: 87%">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#8220;Beneficial ownership&#8221; is a term broadly
    defined in Rule 13d-3 under the Exchange Act and includes more than the typical form of stock ownership, that is, stock held in a person&#8217;s
    name. The term also includes what is referred to as &#8220;indirect ownership,&#8221; meaning ownership of shares as to which a person
    has or shares investment power. For purposes of this column, a person or group of persons is deemed to have &#8220;beneficial ownership&#8221;
    of any shares that are currently exercisable or exercisable within 60 days of the date of this prospectus.</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amounts listed do not give effect to any limitation
    on conversion or the issuance of shares pursuant to the terms of the Note or Option (including the limitations on beneficial ownership
    discussed above).</p></td>
    <td style="width: 4%">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mrs. Ariella Basdeo holds voting and dispositive power over the shares of common stock beneficially owned by ADI Funding LLC. Includes 15,000,000 shares issuable upon exercise of the Option held by the selling stockholder (but without giving effect to the limitation on beneficial ownership contained therein).</span></td>
    <td>&#160;</td></tr>
  </table>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0">&#160;<b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><span id="a_016"></span>PLAN OF DISTRIBUTION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We are registering the shares
of common stock described in this prospectus to permit the resale of these shares of common stock by the Selling Shareholder from time
to time after the date of this prospectus. We will not receive any of the proceeds from the sale of the shares of common stock or conversion
of the Note by the Selling Shareholder. We will receive cash from the sale of the Option, if exercised, which we intend to use as working
capital. We will bear all fees and expenses incident to our obligation to register the shares of common stock.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Sales of shares of our common
stock by the Selling Shareholder named in this prospectus may be made from time to time in one or more transactions in the over-the-counter
market, on any exchange or quotation system on which shares of our common stock may be listed or quoted, in negotiated transactions or
in a combination of any such methods of sale, at fixed prices that may be changed, at market prices prevailing at the time of sale, at
prices related to such prevailing market prices or at negotiated prices. The shares may be offered directly, to or through agents designated
from time to time or to or through brokers or dealers, or through any combination of these methods of sale. The methods by which the shares
may be sold include:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 8%">&#160;</td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">block trades (which may involve crosses) in which the broker or dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;</span></td>
    <td style="width: 33px">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">purchases by a broker or dealer as principal and resales by the broker or dealer for its own account pursuant to this prospectus;</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">exchange distributions or secondary distributions in accordance with the rules of the applicable exchange;</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
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    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">privately negotiated transactions;</span></td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
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  <tr style="vertical-align: top">
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">An agent, broker or dealer
may receive compensation in the form of discounts, concessions or commissions from the Selling Shareholder or the purchasers of the shares
for whom such brokers or dealers may act as agents or to whom they sell as principals, or both (which compensation as to a particular
broker or dealer might be in excess of customary commissions). A member firm of an exchange on which our common stock is traded may be
engaged to act as the selling shareholder&#8217;s agent in the sale of shares by the Selling Shareholder.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In connection with distributions
of the shares of our common stock offered by this prospectus or otherwise, the Selling Shareholder may enter into hedging transactions
with brokers or dealers or other financial institutions with respect to our common stock. In connection with these transactions, the brokers
or dealers or other financial institutions may engage in short sales of our common stock in the course of hedging the positions they assume
with the selling shareholder. The selling shareholder may also sell our common stock short to effect its hedging transactions and deliver
shares of common stock covered by this prospectus to close out short positions and to return borrowed shares in connection with such short
sales. The selling shareholder may also loan or pledge shares of common stock to broker-dealers that in turn may sell such shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In addition, any shares of
our common stock covered by this prospectus that qualify for sale pursuant to Rule 144 of the Securities Act may be sold under Rule 144
rather than pursuant to this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The aggregate proceeds to
the Selling Shareholder from the sale of the shares of common stock offered by them pursuant to this prospectus will be the purchase price
of the shares less discounts or commissions, if any. The Selling Shareholder reserve the right to accept and, together with its agents
from time to time, to reject, in whole or in part, any proposed purchase of shares of common stock to be made directly or through agents.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">To the extent required, the
shares to be sold, the name of the Selling Shareholder, the respective purchase prices and public offering prices, the names of any agents,
dealers or underwriters, any applicable commissions or discounts with respect to a particular offer will be set forth in an accompanying
prospectus supplement or, if appropriate, a post-effective amendment to the registration statement that includes this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Each broker-dealer that receives
our common stock for its own account pursuant to this prospectus must acknowledge that it will deliver the prospectus in connection with
any sale of our common stock. If required, this prospectus may be amended or supplemented on a continual basis to describe a specific
plan of distribution. We will make copies of this prospectus available to the selling shareholder, brokers and dealers for purposes of
satisfying the prospectus delivery requirements of the Securities Act, if applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">In order to comply with the
securities laws of some states, if applicable, the shares of common stock offered by this prospectus may be sold in these jurisdictions
only through registered or licensed brokers or dealers. In addition, in some states the shares may not be sold unless they have been registered
or qualified for sale or an exemption from registration or qualification requirements is available and is complied with as part of such
sale.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Selling Shareholder and
any other person participating in such distribution will be subject to certain provisions of the Exchange Act. The Exchange Act rules
include Regulation M, which may limit the timing of purchases and sales of any of our common stock by the Selling Shareholder and any
other such person. In addition, Regulation M of the Exchange Act may restrict the ability of any person engaged in the distribution of
our common stock to engage in market-making activities with respect to the common stock. In addition, the anti-manipulation rules under
the Exchange Act may apply to sales of the securities in the market. All of the foregoing may affect the marketability of the securities
and the ability of any person to engage in market-making activities with respect to the securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The Selling Shareholder and
any brokers, dealers, agents or others that participate with the Selling Shareholder in the distribution of the shares offered by this
prospectus may be deemed to be &#8220;underwriters&#8221; within the meaning of the Securities Act, and any underwriting discounts, commissions
or fees received by such persons and any profit on the resale of the shares purchased by such persons may be deemed to be underwriting
commissions or discounts under the Securities Act. If the Selling Shareholder is deemed to be an &#8220;underwriter&#8221; within the
meaning of the Securities Act, it will be subject to the prospectus delivery requirements of the Securities Act. We will make copies of
this prospectus (as it may be supplemented or amended from time to time) available to the Selling Shareholder, brokers and dealers for
the purpose of satisfying the prospectus delivery requirements of the Securities Act, if applicable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">There can be no assurance
that the Selling Shareholder will sell any or all of the shares of our common stock offered hereby.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We will bear all fees and
expenses in connection with the preparation and filing of the registration statement of which this prospectus is a part. The fees and
expenses of registration to be borne by us referred to in the foregoing sentence shall include registration, filing and qualification
fees, word processing, duplicating, printers&#8217; and accounting fees, listing fees, messenger and delivery expenses, all fees and expenses
of complying with state securities or blue sky laws, fees and disbursements of our counsel. We will indemnify the selling shareholder
against liabilities, including certain liabilities under the Securities Act. We may be indemnified by the selling shareholder against
liabilities, including certain liabilities under the Securities Act, that may arise from any written information furnished to us by the
selling shareholder specifically for use in this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Any underwriter, dealers
and agents engaged by the Selling Shareholder may engage in transactions with us or the Selling Shareholder, or perform services for us
or the Selling Shareholder, in the ordinary course of business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_017"></span>LEGAL MATTERS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The validity of the rights
and the shares of common stock offered by this prospectus have been passed upon for us by The Doney Law Firm, Las Vegas, Nevada.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_018"></span>EXPERTS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The consolidated financial
statements of iQSTEL Inc. as of December 31, 2024 and for each of the two years in the period ended December 31, 2024 appearing in our
Annual Report on Form 10-K for the year ended December 31, 2024, have been audited by Urish Popeck &amp; Co., LLC, an independent registered
public accountant, as set forth in its report thereon included therein, which includes an explanatory paragraph as to the Company&#8217;s
ability to continue as a going concern and an emphasis of matter paragraph related to the risks and uncertainties related to the Company&#8217;s
outstanding payroll tax liabilities and which are incorporated herein by reference. Such financial statements are incorporated herein
by reference in reliance upon such report given on the authority of such firm as experts in accounting and auditing.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_019"></span>MATERIAL CHANGES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">There have been no material
changes in the registrant&#8217;s affairs which have occurred since the end of the latest fiscal year ended December 31, 2024 for which
audited financial statements were included in the latest Form 10-K and that have not been described in a Form 10-Q or Form 8-K filed
under the Exchange Act.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center"><b><span id="a_020"></span>DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION
FOR SECURITIES ACT LIABILITIES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us pursuant to the
foregoing provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is therefore unenforceable. In addition, indemnification may be limited by state securities laws.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><span style="font-size: 12pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><img src="image_003.jpg" alt=""/>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>15,000,000&#160;Shares of Common Stock</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>PROSPECTUS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">April 2, 2024</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p>


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    <!-- Field: /Page -->

<p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0pt"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>PART II</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>INFORMATION NOT REQUIRED IN PROSPECTUS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>Item 13. Other Expenses of Issuance and Distribution.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">The following table sets
forth the estimated costs and expenses to be incurred in connection with the issuance and distribution of the securities of IQSTEL Inc.
(the &#8220;Registrant&#8221;) which are registered under this Registration Statement on Form S-1 (this &#8220;Registration Statement&#8221;).
All amounts are estimates except the Securities and Exchange Commission registration fee.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following expenses will be borne solely by the Registrant.</span><span style="font-size: 8pt">&#160;</span></p>

<p style="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto">
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<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-size: 8pt">&#160;</span><span style="font-size: 12pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>Item 14. Indemnification of Directors and
Officers.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Under our bylaws, every person
who was or is a party to, or is threatened to be made a party to, or is involved in any action, suit, or proceeding, whether civil, criminal,
administrative, or investigative, by reason of the fact that he is or was our director or officer, or is or was serving at our request
as a director or officer of another corporation, or as its representative in a partnership, joint venture, trust, or other enterprise,
shall be indemnified and held harmless to the fullest extent legally permissible under the laws of the State of Nevada from time to time
against all expenses, liability, and loss (including attorneys&#8217; fees judgments, fines, and amounts paid or to be paid in settlement)
reasonably incurred or suffered by him or her in connection therewith. Such right of indemnification shall be a contract right, which
may be enforced in any manner desired by such person. The expenses of officers and directors incurred in defending a civil or criminal
action, suit, or proceeding must be paid by us as they are incurred and in advance of the final disposition of the action, suit, or proceeding,
upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it is ultimately determined by a court
of competent jurisdiction that he is not entitled to be indemnified by us. Such right of indemnification shall not be exclusive of any
other right which such directors, officers, or representatives may have or hereafter acquire, and, without limiting the generality of
such statement, they shall be entitled to their respective rights of indemnification under any bylaw, agreement, vote of shareholders,
provision of law, or otherwise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Without limiting the application
of the foregoing, our board of directors may adopt bylaws from time to time with respect to indemnification, to provide at all times the
fullest indemnification permitted by the laws of the State of Nevada, and may cause us to purchase and maintain insurance on behalf of
any person who is or was our director or officer, or is or was serving at our request as a director or officer of another corporation,
or as its representative in a partnership, joint venture, trust, or other enterprise against any liability asserted against such person
and incurred in any such capacity or arising out of such status, whether or not we would have the power to indemnify such person. The
indemnification provided shall continue as to a person who has ceased to be a director, officer, employee, or agent, and shall inure to
the benefit of the heirs, executors and administrators of such person.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing
provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">We have not entered into
any agreements with our directors and executive officers that require us to indemnify these persons against expenses, judgments, fines,
settlements and other amounts actually and reasonably incurred (including expenses of a derivative action) in connection with any proceeding,
whether actual or threatened, to which any such person may be made a party by reason of the fact that the person is or was our director
or officer or any of our affiliated enterprises. We have an insurance policy covering our officers and directors with respect to certain
liabilities, including liabilities arising under the Securities Act, or otherwise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><b>Item 15. Recent Sales of Unregistered Securities.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">For the period from January
1, 2025 to April 1, 2025, we have issued the following securities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top">
<td style="width: 8%"/><td style="text-align: left; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td><td style="text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212529">4,556,818
                                            shares for conversion of debt valued at $500,000</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 27pt 0 22.5pt; text-align: justify; text-indent: 40.5pt; background-color: white"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 27pt 0 22.5pt; text-align: justify; text-indent: 40.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 27pt 0 22.5pt; text-align: justify; text-indent: 40.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white">During the year ended December 31, 2024, the Company issued 30,847,055 shares of common stock and 285,000 shares payable, valued at
fair market value on issuance as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 27pt 0 22.5pt; text-align: justify; text-indent: 40.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 27pt 0 22.5pt; text-align: justify; text-indent: 40.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&#160;</span></p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0; background-color: white">
<tr style="vertical-align: bottom">
    <td style="width: 8%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td style="width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">600,000 shares for compensation
    to our directors valued at $141,025;</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,007,173 shares for settlement of debt valued at
    $483,670;</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,535,354 shares in conjunction with convertible
    notes valued at $597,777;</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,000,000 shares for exercise of warrants for $1,100,000;
    and</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,106,061 shares for conversion of debt of $671,666</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,450,000 shares issued for cash of $100,000</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">646,467 shares for the extension of debt valued
    at $116,364</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,502,000 shares for conversion of Series B Preferred
    Stock</span></td></tr>
<tr style="vertical-align: bottom">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">285,000 shares of stock payable for service valued
    at $82,194 recorded as additional paid in capital as of December 31, 2024. Shares were issued on January 16, 2025.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt; text-align: justify; background-color: white; color: #212529"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="background-color: white">During
the year ended December 31, 2023, the Company issued&#160;10,534,119&#160;shares of common stock, valued at fair market value on issuance
as follows:</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top">
<td style="width: 8%"/><td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td><td style="text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">240,000
                                            shares for compensation to our directors valued at $42,890; and</span></td></tr></table>

<table cellpadding="0" cellspacing="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top">
<td style="width: 8%"/><td style="width: 2%"><span style="font-size: 10pt">&#8226;</span></td><td style="text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,294,119
                                            shares for exercise of warrants for $1,400,000.&#160;</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt; background-color: white">During
the year ended December 31, 2022, the Company issued&#160;14,118,153&#160;shares of common stock, valued at fair market value on issuance
as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
    <td style="width: 8%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">2,000,000
    shares issued for cash of $1,000,000</span></td>
    <td style="width: 33px"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">5,066,667
    shares for acquisitions of Whisl and Smartbiz valued at $1,550,000</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">550,000
    shares for asset acquisition valued at $357,500</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">240,000
    shares for compensation to our directors valued at $107,600</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">161,367
    shares for settlement of debt valued at $80,674</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">6,100,119
    shares for exercise of warrants for $400,000</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">During
the year ended December 31, 2021, the Company issued 51,638,526 shares of common stock, valued at fair market value on issuance as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; background-color: white">
  <tr style="vertical-align: top">
    <td style="width: 8%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">41,562,500 shares issued
    for cash of $6,536,250, of which $100,000 was recorded as subscription receivable as of December 31, 2021. The Company received the
    $100,000 on January 3, 2022.</span></td>
    <td style="width: 33px"><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,230,394 shares, valued
    at $2,056,530, issued for settlement of debt of $1,516,667</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">195,000 shares for services
    valued at $284,700</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,320,000 shares issued
    to our management for compensation valued at $1,037,568</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">250,000 shares for forbearance
    of debt valued at $49,925</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8226;</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,080,632 shares issued
    for conversion of debt of $422,295</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">The
offers, sales, and issuances of the securities described above were deemed to be exempt from registration under the Securities Act in
reliance on Section 4(a)(2) of the Securities Act or Regulation D promulgated thereunder as transactions by an issuer not involving a
public offering. The recipients of securities in each of these transactions acquired the securities for investment only and not with
a view to or for sale in connection with any distribution thereof and appropriate legends were affixed to the securities issued in these
transactions. Each of the recipients of securities in these transactions was an accredited or sophisticated person and had adequate access,
through employment, business or other relationships, to information about us.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b>&#160;</b></span></p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b>Item 16. Exhibits
and Financial Statement Schedules.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><span style="font-size: 10pt">See
Exhibit Index attached hereto and incorporated herein by this reference.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b>Item 17. Undertakings</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(A)
The undersigned registrant hereby undertakes:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 0.5in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(i)
To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(ii)
To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective
amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increases or decrease in volume of securities offered (if the total dollar value of securities
offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration
Fee&#8221; table in the effective registration statement;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(2)
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(4)
That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(i)
If the registrant is relying on Rule 430B:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(A)
Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the
date the filed prospectus was deemed part of and included in the registration statement; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(B)
Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on
Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required
by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier
of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the
offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date
an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the
registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration
statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is
part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or
modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in
any such document immediately prior to such effective date; or</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

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    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; background-color: white"><span style="font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(ii)
If the registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating
to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall
be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however,
that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated
or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as
to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration
statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first
use.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(5)
That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution
of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant
to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to
the purchaser and will be considered to offer or sell such securities to such purchaser:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(i)
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
424;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(ii)
Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by
the undersigned registrant;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(iii)
The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(iv)
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(6)
To provide to the underwriter at the closing specified in the underwriting agreements certificates in such denominations and registered
in such names as required by the underwriter to permit prompt delivery to each purchaser.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 0.5in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(B)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of
the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless
in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the
question of whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication
of such issue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 0.5in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(C)
The undersigned registrant hereby undertakes that:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(1)
For purposes of determining any liability under the Securities Act of 1933, the information omitted from the form of prospectus filed
as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant
to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time
it was declared effective.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt 0 1in; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">(2)
For the purpose of determining any liability under the Securities Act of 1933, each post-effective amendment that contains a form of
prospectus shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b></b></span></p>

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    <!-- Field: /Page -->

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"><b></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><span style="font-size: 10pt"><b>SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this registration statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of New York, State of New York, on April 2, 2025.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">IQSTEL Inc.</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Leandro Iglesias</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Leandro Iglesias</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Chief Executive Officer, Principal Executive
    Officer and Director</span></p></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Alvaro Quintana Cardona&#160;</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alvaro Quintana Cardona&#160;&#160;&#160;&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Operating Officer, Chief Financial Officer, Principal
    Financial Officer, Principal Accounting Officer and Director</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; background-color: white"><span style="font-size: 10pt"><b>POWER
OF ATTORNEY</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">Each
person whose signature appears below constitutes and appoints Leandro Iglesias and Alvaro Quintana Cardona with full power to act alone
and without the others, his true and lawful attorney-in-fact, with full power of substitution, and with the authority to execute in the
name of each such person, any and all amendments (including without limitation, post-effective amendments) to this registration statement,
to sign any and all additional registration statements relating to the same offering of securities as this registration statement that
are filed pursuant to Rule 462(b) of the Securities Act of 1933, as amended, and to file such registration statements with the Securities
and Exchange Commission, together with any exhibits thereto and other documents therewith, necessary or advisable to enable the registrant
to comply with the Securities Act of 1933, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission
in respect thereof, which amendments may make such other changes in the registration statement as the aforesaid attorney-in-fact executing
the same deems appropriate.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in
the capacities and on the dates indicated.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Leandro Iglesias</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Leandro Iglesias</span></p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">Chief Executive Officer, Principal Executive
    Officer and Director</span></p></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 10.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2, 2025</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Alvaro Quintana Cardona&#160;</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alvaro Quintana Cardona&#160;&#160;&#160;&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Operating Officer, Chief Financial Officer, Principal
    Financial Officer, Principal Accounting Officer and Director</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="line-height: 10.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2, 2025</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Raul Perez&#160;</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raul Perez&#160;&#160;&#160;&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="line-height: 10.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2, 2025</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Jose Antonio Barreto&#160;</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jose Antonio Barreto</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="line-height: 10.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2, 2025</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
    <td style="width: 95%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">/s/ Italo Segnini&#160;</span></span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Italo Segnini</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</span></td>
    <td style="line-height: 10.7pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2, 2025</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>&#160;</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-size: 10pt"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify"><span style="font-size: 10pt"><b>EXHIBIT INDEX</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 25pt; text-align: justify; text-indent: 0.5in"><span style="font-size: 10pt">(a)
Exhibits:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top">
    <td style="width: 11%; line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><b>Exhibit
    No.</b></span></td>
    <td style="width: 1%; line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="width: 88%; line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><b>Description
    of Exhibit</b></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 2.1</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex2z1.htm" style="-sec-extract: exhibit">Membership
    Interest Purchase Agreement(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 2.2</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000138/f8k022120_ex2z1.htm" style="-sec-extract: exhibit">Memorandum
    of Understanding and Shareholders Agreement dated February 21, 2020(5) </a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 2.3</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000128/f8k021920_ex2z1.htm" style="-sec-extract: exhibit">Memorandum
    of Understanding and Shareholders Agreement dated February 12, 2020(6) </a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 2.4</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878219000290/f8k040319_ex2z1.htm" style="-sec-extract: exhibit">Company
    Purchase Agreement, dated April 1, 2019(11)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 2.5</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357724000016/ex2_1.htm" style="-sec-extract: exhibit">Share
    Purchase Agreement, dated January 19, 2024(23)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    2.6</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000127/ex2_1.htm" style="-sec-extract: exhibit">Purchase Company Agreement, dated May 10, 2024(26)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    2.7</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000163/ex2_1.htm" style="-sec-extract: exhibit">Second Amendment to Share Purchase Agreement, dated June 27, 2024(27)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.1</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000107878211002345/bmavens1ex31.htm" style="-sec-extract: exhibit">Articles
    of Incorporation of the Registrant(2)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.2</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000107878218000942/f8k083018_ex3z1.htm" style="-sec-extract: exhibit">Certificate
    of Amendment(3)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.3</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000316/def14c051120_def14c.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment(18)</span></a></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.4</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878221000023/f8k010721_ex3z1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation(20)</span></a></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.5</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><p style="font: 10pt/107% Times New Roman, Times, Serif; margin: 0"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000855/f8k111120_ex3z1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation(21)</span></a></p></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.6</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000821/f8k110120_ex3z1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation(22)</span></a></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 3.7</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000700/ex3_1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Bylaws of the Registrant(19)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.1</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000217/f8k030219_ex4z1.htm" style="-sec-extract: exhibit">Amendment
    #2 to the Crown Capital Note dated March 2, 2020(4)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.2</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000217/f8k030219_ex4z2.htm" style="-sec-extract: exhibit">Amendment
    #2 to the Auctus Fund Note dated March 2, 2020(4)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.2</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000102/f8k021120_ex4z1.htm" style="-sec-extract: exhibit">Amendment
    #1 to the Labrys Fund Note dated February 11, 2020(7)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.3</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z1.htm" style="-sec-extract: exhibit">Amendment
    #1 to the Apollo  Note dated December 23, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.4</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z2.htm" style="-sec-extract: exhibit">Amendment
    #1 to the Apollo Note dated December 24, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.5</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z3.htm" style="-sec-extract: exhibit">Amendment
    #1 to the   Apollo Note dated December 24, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.6</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z4.htm" style="-sec-extract: exhibit">Amendment
    #1 to the   Apollo Note dated December 24, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.7</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z5.htm" style="-sec-extract: exhibit">Amendment
    #1 to the   Apollo Note dated December 24, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.8</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z6.htm" style="-sec-extract: exhibit">Amendment
    #1 to the   Apollo Note dated December 24, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.9</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex4z7.htm" style="-sec-extract: exhibit">Amendment
    #1 to the Apollo   Note dated December 24, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.10</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex10z2.htm" style="-sec-extract: exhibit">Amendment
    #1 to the Crown Capital Note dated December 23, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.11</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex10z3.htm" style="-sec-extract: exhibit">Amendment
    #1 to the Auctus Fund Note dated January 1, 2020(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.12</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878219000901/f8k121119_ex4z1.htm" style="-sec-extract: exhibit">Senior
    Secured Convertible Promissory Note to Labrys Fund dated December 3, 2019(9)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.13</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000259/ex10_1.htm" style="-sec-extract: exhibit">Purchase
    Company Agreement, dated April 21, 2022(12)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.14</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000279/ex2_1.htm" style="-sec-extract: exhibit">Purchase
    Company Agreement, dated May 6, 2022(13)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.15</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000558/ex4_15.htm" style="-sec-extract: exhibit">Common
    Stock Purchase Option with Apollo    dated April 5, 2022(14)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.16</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000578/ex4_1.htm" style="-sec-extract: exhibit">Amended
    Common Stock Purchase Option with    Apollo dated September 29, 2022(15)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.17</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357724000016/ex4_1.htm" style="-sec-extract: exhibit"><span style="line-height: 115%">Secured
    Convertible Promissory Note, dated January 24, 2024(23)</span></a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.18</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357724000044/ex4_1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock Purchase Option, dated February 12, 2024(24)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 4.19</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357725000026/ex4_1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock Purchase Option, dated January 14, 2025(30)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    5.1</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357725000029/ex5_1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; line-height: 115%">Opinion
    of The Doney Law Firm, with consent to use (incorporated by reference to the S-1 dated January 17, 2025)</span></a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.1</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex10z1.htm" style="-sec-extract: exhibit">Conversion
    Agreement with Carmen Cabell(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.2</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex10z2.htm" style="-sec-extract: exhibit">Conversion
    Agreement with Patrick Gosselin(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.3</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex10z3.htm" style="-sec-extract: exhibit">Conversion
    Agreement with Mark Engler(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.4</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex10z4.htm" style="-sec-extract: exhibit">Employment
    Agreement with Leandro Iglesias(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.5</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex10z5.htm" style="-sec-extract: exhibit">Employment
    Agreement with Alvaro Quintana Cardona(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.6</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878218000661/f8k062818_ex10z6.htm" style="-sec-extract: exhibit">Employment
    Agreement with Juan Carlos Lopez Silva(1)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.7</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex10z1.htm" style="-sec-extract: exhibit">Forbearance
    Agreement dated December 12, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.8</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878220000002/f8k010320_ex10z4.htm" style="-sec-extract: exhibit">Temporary
    Forbearance Agreement dated December 18, 2019(8)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.9</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878219000901/f8k121119_ex10z1.htm" style="-sec-extract: exhibit">Securities
    Purchase Agreement, dated December 3, 2019(9)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.10</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878219000396/f8k050319_ex10z1.htm" style="-sec-extract: exhibit">Employment
    and Indemnification Agreements with Leandro Iglesias, dated May 2, 2019(10)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.11</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878219000396/f8k050319_ex10z2.htm" style="-sec-extract: exhibit">Employment
    and Indemnification Agreements with Alvaro Quintana, dated May 2, 2019(10)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.12</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000107878219000396/f8k050319_ex10z3.htm" style="-sec-extract: exhibit">Employment
    and Indemnification Agreements with Juan Carlos Lopez Silva, dated May 2, 2019(10)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.13</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000585/ex10_13.htm" style="-sec-extract: exhibit">Registration
    Rights Agreement with ADI Funding  dated April 5, 2022(16)</a></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.14 </span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000016/ex10_1.htm" style="-sec-extract: exhibit">Securities
    Purchase Agreement, dated January 24, 2024(23)</a></span></td></tr>
  </table>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"></span>&#160;</p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"></span></p>

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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"></span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; border-collapse: collapse; margin-right: auto">
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="width: 11%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.15 </span></td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%; width: 88%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000016/ex10_2.htm" style="-sec-extract: exhibit">Registration
    Rights Agreement with M2B Funding Corp., dated January 24, 2024(23)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.16 </span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000016/ex10_3.htm" style="-sec-extract: exhibit">Security
    Agreement, dated January 24, 2024(23)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.17</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000071/ex10_1.htm" style="-sec-extract: exhibit">Amended and Restated Employment Agreement with Mr. Iglesias, dated February 29, 2024(25)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.18</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000071/ex10_2.htm" style="-sec-extract: exhibit">Amended and Restated Indemnification Agreement with Mr. Iglesias, dated February 29, 2024(25)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.19</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000071/ex10_3.htm">Amended and Restated Employment Agreement with Mr. Cardona, dated February 29, 2024(25)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.20</span></td>
    <td><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000071/ex10_4.htm" style="-sec-extract: exhibit">Amended and Restated Indemnification Agreement with Mr. Cardona, dated February 29, 2024(25)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    10.21</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000265/ex10_1.htm" style="-sec-extract: exhibit">Memorandum of Understanding, dated October 18, 2024(28)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    10.22</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="http://www.sec.gov/Archives/edgar/data/1527702/000166357724000273/ex10_1.htm" style="-sec-extract: exhibit">Memorandum of Understanding, dated November 1, 2024(29)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    10.23</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357725000026/ex10_1.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Purchase Agreement, dated January 14, 2025(30)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    10.24</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357725000026/ex10_2.htm" style="-sec-extract: exhibit"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration Rights Agreement, dated January 14, 2025(30)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 14.1</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357722000612/ex14_1.htm" style="-sec-extract: exhibit">Code
    of Business Conduct and Ethics(17)</a></span></td></tr>
<tr style="vertical-align: top; background-color: White">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    23.1</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="ex23_1.htm">Consent of Independent Registered Public Accounting Firm**</a> </span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    23.2</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357725000029/ex5_1.htm" style="-sec-extract: exhibit">Consent of The Doney Law Firm (included in Exhibit 5.1)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    24.1</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Power
    of Attorney (included on signature page)</span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">Exhibit
    107</span></td>
    <td style="line-height: 115%"><span style="font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><a href="https://www.sec.gov/Archives/edgar/data/1527702/000166357725000029/ex107.htm" style="-sec-extract: exhibit">Filing
    fee table (incorporated by reference to the S-1 dated January 17, 2025)</a></span></td></tr>
  </table>
<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt"><span style="font-size: 10pt">Filed herewith**</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 15pt"><span style="font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 11pt Arial, Helvetica, Sans-Serif; margin-left: auto; width: 90%; background-color: white; border-collapse: collapse; margin-right: auto">
  <tr>
    <td style="vertical-align: bottom; width: 1%"><span style="font-size: 10pt">&#160;</span></td>
    <td style="vertical-align: top; width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</span></td>
    <td style="vertical-align: bottom; width: 98%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated
    by reference to the Company&#8217;s Form 8-K filed with the US Securities and Exchange Commission on June 28, 2018.</span></td></tr>
  <tr>
    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</span></td>
    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Company&#8217;s Registration Statement on Form S-1 filed with the US Securities and Exchange Commission on August 18, 2011.</span></td></tr>
  <tr>
    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</span></td>
    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Company&#8217;s Form 8-K filed with the US Securities and Exchange Commission on August 31, 2018.</span></td></tr>
  <tr>
    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</span></td>
    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Company&#8217;s Form 8-K filed with the US Securities and Exchange Commission on March 30, 2020.</span></td></tr>
  <tr>
    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</span></td>
    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Company&#8217;s Form 8-K filed with the US Securities and Exchange Commission on February 25, 2020.</span></td></tr>
  <tr>
    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
    <td style="vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</span></td>
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
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    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
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    <td style="vertical-align: bottom"><span style="font-size: 10pt">&#160;</span></td>
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
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    <td style="vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
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  <tr>
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  <tr>
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  <tr>
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  <tr>
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  <tr>
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  <tr>
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  <tr>
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    <td style="vertical-align: top; line-height: 115%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%">27</span></td>
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  <tr>
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<p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><span style="font-size: 10pt">&#160;</span></p>

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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>5
<FILENAME>ex23_1.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10.5pt Trebuchet MS, Times, Serif; margin: 12pt 0 0; text-align: center; text-indent: 0in; color: fuchsia"><FONT STYLE="color: Black"><U>Consent
of Independent Registered Public Accounting Firm</U></FONT></P>

<P STYLE="font: 10.5pt Trebuchet MS, Times, Serif; margin: 0; text-align: left; color: fuchsia"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10.5pt Trebuchet MS, Times, Serif; margin: 12pt 0 0; text-align: justify; color: fuchsia"><FONT STYLE="color: Black">iQSTEL,
Inc.</FONT></P>

<P STYLE="font: 10.5pt Trebuchet MS, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="color: Black">Coral Gables,
Florida</FONT></P>

<P STYLE="font: 10.5pt Trebuchet MS, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">We hereby consent to the use in the Prospectus constituting a part of this Registration Statement of our report dated March 31, 2025,
relating to the consolidated financial statements of iQSTEL, Inc., which is incorporated by reference to that Prospectus. Our report contains
an explanatory paragraph regarding the Company&rsquo;s ability to continue as a going concern. We also consent to the reference to us
under the caption &ldquo;Experts&rdquo; in the Preliminary Prospectus.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify">/s/ Urish Popeck &amp; Co., LLC</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt; text-align: justify">Pittsburgh, PA</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">April 2, 2025</P>
<P STYLE="font: 10.5pt Trebuchet MS, Times, Serif; margin: 0; text-align: justify; color: fuchsia"><FONT STYLE="color: Black">&nbsp;</FONT></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>6
<FILENAME>iqst-20241231.xsd
<DESCRIPTION>XBRL SCHEMA FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.0b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +axZo7xRiXhun8uCbnVcSaSGObOdzZF6mekxvGR0HQlazyks7uLDgyau6TFmQUIO -->
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      <appinfo>
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          <link:definition>00000001 - Document - Cover</link:definition>
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          <link:usedOn>link:definitionLink</link:usedOn>
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    <import namespace="http://xbrl.sec.gov/dei/2024" schemaLocation="https://xbrl.sec.gov/dei/2024/dei-2024.xsd" />
    <import namespace="http://fasb.org/us-gaap/2024" schemaLocation="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd" />
    <import namespace="http://fasb.org/us-types/2024" schemaLocation="https://xbrl.fasb.org/us-gaap/2024/elts/us-types-2024.xsd" />
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    <import namespace="http://xbrl.sec.gov/country/2024" schemaLocation="https://xbrl.sec.gov/country/2024/country-2024.xsd" />
    <import namespace="http://fasb.org/srt/2024" schemaLocation="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd" />
    <import namespace="http://fasb.org/srt-types/2024" schemaLocation="https://xbrl.fasb.org/srt/2024/elts/srt-types-2024.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>7
<FILENAME>iqst-20241231_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>iqst-20241231_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
<TEXT>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>iqst_s1a_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2024"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="iqst-20241231.xsd" xlink:type="simple"/>
    <context id="From2024-01-01to2024-12-31">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001527702</identifier>
        </entity>
        <period>
            <startDate>2024-01-01</startDate>
            <endDate>2024-12-31</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:AmendmentFlag contextRef="From2024-01-01to2024-12-31" id="Fact000003">true</dei:AmendmentFlag>
    <dei:AmendmentDescription contextRef="From2024-01-01to2024-12-31" id="Fact000004">Amended to included updated financials and other information</dei:AmendmentDescription>
    <dei:EntityCentralIndexKey contextRef="From2024-01-01to2024-12-31" id="Fact000005">0001527702</dei:EntityCentralIndexKey>
    <dei:DocumentType contextRef="From2024-01-01to2024-12-31" id="Fact000010">S-1/A</dei:DocumentType>
    <dei:EntityRegistrantName contextRef="From2024-01-01to2024-12-31" id="Fact000011">iQSTEL INC.</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="From2024-01-01to2024-12-31" id="Fact000012">NV</dei:EntityIncorporationStateCountryCode>
    <dei:EntityTaxIdentificationNumber contextRef="From2024-01-01to2024-12-31" id="Fact000013">45-2808620</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2024-01-01to2024-12-31" id="Fact000014">300 Aragon Avenue</dei:EntityAddressAddressLine1>
    <dei:EntityAddressAddressLine2 contextRef="From2024-01-01to2024-12-31" id="Fact000015">Suite 375</dei:EntityAddressAddressLine2>
    <dei:EntityAddressAddressLine3 contextRef="From2024-01-01to2024-12-31" id="Fact000016">Coral Gables</dei:EntityAddressAddressLine3>
    <dei:EntityAddressCityOrTown contextRef="From2024-01-01to2024-12-31" id="Fact000017">FL 33134</dei:EntityAddressCityOrTown>
    <dei:EntityAddressPostalZipCode contextRef="From2024-01-01to2024-12-31" id="Fact000018">33134</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2024-01-01to2024-12-31" id="Fact000019">954</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2024-01-01to2024-12-31" id="Fact000020">951-8191</dei:LocalPhoneNumber>
    <dei:EntityFilerCategory contextRef="From2024-01-01to2024-12-31" id="Fact000021">Non-accelerated Filer</dei:EntityFilerCategory>
    <dei:EntitySmallBusiness contextRef="From2024-01-01to2024-12-31" id="Fact000022">true</dei:EntitySmallBusiness>
    <dei:EntityEmergingGrowthCompany contextRef="From2024-01-01to2024-12-31" id="Fact000023">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">S-1/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentDescription', window );">Amendment Description</a></td>
<td class="text">Amended to included updated financials and other information<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">iQSTEL INC.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001527702<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">45-2808620<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">NV<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">300 Aragon Avenue<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 375<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine3', window );">Entity Address, Address Line Three</a></td>
<td class="text">Coral Gables<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">FL 33134<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">33134<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">954<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">951-8191<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of changes contained within amended document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine3">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 3 such as an Office Park</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine3</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
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