$IQST iQSTEL Reduces Issued And Out By More Than 22%

https://ih.advfn.com/stock-market/USOTC/iqstel-pk-IQST/stock-news/83853609/iqst-iqstel-reduces-issued-and-out-by-more-than


IQST - iQSTEL Management Converts 21 Million Common Shares to Series B Preferred Shares Reducing Outstanding Share Count By More Than 22%



New York, NY -- December 8, 2020 -- InvestorsHub NewsWire -- iQSTEL, Inc. (USOTC: IQST) today announces management’s conversion of 21 million common shares held among the CEO, CFO and chief commercial officer into Series B preferred shares over next days, effectively reducing the outstanding share count by more than 22%. These Class B preferred shares have a one-year lock-up, and upon conversion, management has opted for a one-year leak out on the shares into the outstanding share count.

“It is important for our current and future investors to bear witness to our conversion of these shares from common to preferred class. While many management teams talk about the confidence they have in their companies, Alvaro, Juan and I truly believe in the future of iQSTEL and its current growth plans and wish to demonstrate that belief through this stock conversion,” commented Leandro Iglesias, iQSTEL’s CEO. “We believe the coming year holds great things for iQSTEL, including an expansion of our fintech capabilities as well as a potential up-list onto the Nasdaq, and we wish to demonstrate our confidence in our future execution.”

As of the share conversion, outstanding shares are reduced from 93,786,210 to 72,754,110.

The securities mentioned in this press release will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

$IQST iQSTEL Reduces Issued And Out By More Than 22%

https://ih.advfn.com/stock-market/USOTC/iqstel-pk-IQST/stock-news/83853609/iqst-iqstel-reduces-issued-and-out-by-more-than

$IQST iQSTEL Reduces Issued And Out By More Than 22%

https://ih.advfn.com/stock-market/USOTC/iqstel-pk-IQST/stock-news/83853609/iqst-iqstel-reduces-issued-and-out-by-more-than

OTCX on bid and some fool will dump into him.

Company word on any MSPC dealings.

pic.twitter.com/9pz6Zwb0vV

— Ian Titus (@IanTitus9) December 8, 2020

Here is their original PR about doing basically the same thing during covid.

https://www.otcmarkets.com/stock/IQST/news/iQSTELs-Outstanding-Share-Reduction-of-208M-Restricted-Shares-Delayed-Due-to-COVID-19?id=262306

Did not see that coming. That is going to help nicely going forward.

Only a year behind on OTC filings. A few of those hitting will help alot.

IQST just in November created Series A and B Preferred shares. Its possible that is what MSPC shareholders get.


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 a liquidation preference of $81 per share in any distribution upon winding up, dissolution, or liquidation of the Company before junior security holders, as provided in the designation. 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, at a conversion rate of one thousand (1,000) shares of Common Stock for every one (1) share of Series B 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’s stock liquidity.

https://www.otcmarkets.com/filing/html?id=14502059&guid=xOmqUeuhhSXaU3h

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.

https://www.otcmarkets.com/filing/html?id=14500913&guid=xOmqUeuhhSXaU3h

Nice to see, but I'd say IQST making a huge move benefits MSPC more than other way around.

But with the clear linkage both would benefit either way.

About a 20m slap on 2's

They just created Series A and B in November, I have not see anything where they have issued any yet.

360m bought at .0001 with 280m on BID

Some people making a bet on something good happening from it.

Watch $ALYI or $MSPC make a nice run and bring $IQST along with it. Should be the other way around, but we know the deal.

Just getting back to Q2 margin of 6.4% gets them close to $1m gross profit. Been around $1m SG&A each Q.

Gotta be close this Q
https://www.otcmarkets.com/stock/IQST/news/iQSTEL-Q2-Revenues-Reach-a-Record-11M-with-Operating-Subsidiaries-Q2-2020-Net-Income-Surpassing-420K?id=268994

$5.1m on Oct. Be interesting if they are still increasing and could actually say that month they were at least cash flow positive.

Noticed MSPC was down to only 1m shares from 6m of IQST shares.

Always seem to be a burst late afternoon then followed by dumping into BID.

Range is getting tighter and tighter, hope it breaks this wedge soon and begins uptrend.

A lot of info on this site.
http://www.iotsmartgas.com/

New one coming.
http://www.iotsmartev.com/

I was going say that. If the right "kind" of people invest, they will make sure they get a real nice return.

Obviously a PR talking up the stuff we are discussing would be nice instead of some PR with another pinkie.

But I am sure that stuff is coming.

So imagine all convertible debt gone, money for various expenses in 2021 and $2m in bank for acquisitions.

With a max 149m O/S, this is worth more than $12m

Use of Proceeds.

Exactly. This would be company transformative.

If they are sitting at a $50m revenue company with little debt and actual EPS, the O/S will not be a big deal.

Nice

Have to be finishing up. They cleaned up almost all their notes in Sept.

This moved conversion date to Sept 2021.

More details obviously to come. But if they raised $5m for a 24% stake in new Prepaid service, it give that a $20m valuation alone.

Entire company market cap is sitting at $7m today.

It looks just to be stake in the new Visa Prepaid company. Keeping 51% control.

Different but interesting.

See that, up 200% in a day type moves a lot. They do more small caps in a couple dollar range surprised to see iqst.

With 60m float, you never know, $1 is not out of the question if the right pump comes along.

This guy and some of his people took a position last week. Any OTC stock they start talking about goes nuts. He has never tagged the ticker symbol in any tweet yet.

https://twitter.com/yatesinvesting/status/1330913881674444803

He just got slapped off, then 20k gets sold and he is back on. Might just be a few tick flipping.

They need to raise some money. $5m to $7m for debt management and to fund these new ventures.

Nice find.

85m O/S with 60m ish float. Not bad.

I mean $2.4m in interest expense for 9 months this year on a $3.55m loss

They are growing so fast it will take a little time to manage the debt.

I could see a big traditional financing to clean up old debt and provide capital for growth.

This guy can bring the volume. They are definitely watching also.

https://twitter.com/yatesinvesting/status/1330911023856033797

This PR from Nov 10th says margins are improving.

https://www.otcmarkets.com/stock/IQST/news/story?e&id=1738772

Getting cash flow positive is the first step. That would be a nice PR if they come out and said they were in November.