Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Anybody know why the ebike and car was not mentioned in the 10-q under business segments. I was curious how much was spent in R/D and production.
I don't know guys. For all the pissing and moaning that I want to do in response to this current share price; does anyone else got a lead on an 11cent stock with similar fundamental and potential??? The main question you have to ask yourself is does this stock finish higher than 11 cents by year's end? I am betting yes.
agreed. What a load. Gimmick?! It's called investing in your stock equity and instilling investor confidence WHICH THERE NONE! I would consider the metaverse venture more of a gimmick.
absolutely. They should concentrate on getting these ventures off the ground into profitability before taking on another acquisition. Hopefully, that is the plan for the rest of the year.
agreed, but the first quarter is in the past and those investments have already taken place.
why would you expect a profit in the first quarter? They told you they have started a production test batch of the 2nd generation of ebikes and have started to invest in the launch of the smart tank venture. That I would think would soak up most of the profits from the telecom ventures plus they normally don't "kill it" in the first quarter revenue department. Just be happy if they dilute anymore this year.
Kenny, you keep saying "these pumpers", but literally no one has been talking about the 10K being good, so who are you referring to?
Your words dude.
He was referring to the shareholders letter. Maybe reread it.
He's right the CEO stated that the 10K was going to be really something and well worth the wait in the extension notice posted in the shareholders letter.
Would someone please give this stock some viagra!
volume is up a tick or two today. I feel like this may be the time to buy, but I remain dubious. This stock has done so many head fakes in the past, I might just wait a little longer.
its normal..lol. That's why the extension is allowed by the SEC. Sometimes it is necessary.
it replaces of course. They were a test batch
no, he said that Spain was interested. Sounds like that's where the bikes are headed. Do you think designing, testing, redesigning and batch testing can occur in the same year? For an ebike? You couldn't do that for a pogo stick. Be real
I don't think OTC scams are usually profitable or debt free. Most don't make any revenues. I do agree that management has not given the shareholders what they want. They need to make a big deal to become a big deal.
maybe we got denied.
The new big question is "GOT MY" already a profitable operation or does it need to be developed to be so. The last acquisition was already profitable, this new 8K does not state that about this one We took controlling interest into this metaverse venture, but will it eat up the new found profits?
I think most are underwater here and are just tired of seeing the share price further drop through time. Nothing seems to change for the better here. That does tend to make an investor a tad negative.
I think management was fine with it. They got 12% of the income generated by the deal. It was a horrible deal for investors so far, because we haven't seen exactly what else it has paid for at this time. Time will tell, but yes the smell of it will linger.
It is good to hear that the status quo of revenue production is intact. My question is; why not state the profits during this time frame? I wonder is Apollo exercised with the dawn of this pr?
Good news today. They needed to partner with a software company to make this technology scalable, reliable and accepted globally. Now if we could just garner some sales. I thought the PR would be about the 500 ebike today. I will gladly take news on IOT instead.
oh you are right, I was thinking the AMX. I think it is a dollar.
agreed.
I was just thinking that any money that they got from the deal would be recorded as income on the books. Every director gets 3% of yearly incomes so was this deal just to pay the director's cash money? I mean we have heard no talk about any acquisitions for the money raised
Can someone kindly remind me how much total money was raised in the Apollo deal for the company?
another fine day of owning IQST.
I feel like you have to give them a pass on this one. It takes time to design--manufacture--ship--test---redesign---remanufacture---and sale any vehicle. They should have pumped the brakes on the enthusiasm from the get go. Now by the end of the year, there should be some initial sells. The car, probably 2024 at the earliest would be my guess. The bigger gripe should be with the IOT which has been in testing for what seems like forever.
Well they could stick their finger in the MM's collective asses by completing a deal for IOT or ebikes, and formulating a share back program with profits until be get the price to the minimum for a Nas launch. Create a buying frenzy. BTW what is the company doing with all that cash from Apollo? Never discussed in the meeting. The shareholders bought the dilution, just would like to know for what reason.
well, check and check so far.
LOL...What?!
they could have let more than 2 shareholders questions go through.
get Apollo their shares----report a major IOT deal or major ebike orders--- back it up with a killer Q and K. That is what it is going to take to get us the F out of this quagmire.
It will probably start with the 10K. Long wait
Nothing like a nothing burger for lunch. as expected....
ominous start. I am guessing since Apollo doesn't have all of their shares, that the company is not going to have much to say today other than what we already know.
Maybe one of the questions should be WTF after he reads this aloud to everyone. No wonder none of directors are buying on open market. Why would they? Holy Cow.
EXECUTIVE COMPENSATION
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, 2021 and 2020
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’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
13
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.
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.
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’s common stock on the OTC Markets during the last 10 days and applying a discount of 25%.” 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.
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’s common stock on the OTC Markets during the last 10 days and applying a discount of 25%.” 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.
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. 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%.
Option Grants
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.
Pension, Retirement or Similar Benefit Plans
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.
14
Compensation Committee
On November 17, 2022, the Board of Directors of iQSTEL Inc. (the “Company”) authorized the creation of a Compensation Committee. 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.
Indebtedness of Directors, Senior Officers, Executive Officers and Other Management
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.
Probably the redesign to the ebike took time. Building a car of any kind is probably a long enduring process. Management needed to be more realistic with their timelines from the start, but then again we can't see all the angles from our vantage point. The one thing that I say positive about the development news that was new to me was the constant mention of beer monitoring using IOT. Maybe a brewery or two have shown interest or why mention that sector.
So after reading the sharehold letter what exactly are they going to talk about at the shareholders meeting? It seems like all the juicy production development has been pushed back a year since they mentioned it. So anything they say about those topics like e-bikes or the iot is going to seem like long winded promises.
Agreed and waiting. I just hope the shareholder's meeting doesn't turn out to be a ppt showing revenue growth.
In this market....yes. There is no demand to counter balance supply. And for what exactly?
OH....I think we all see the expansion.