iQSTEL Inc (IQST)

[jerseyboy]

I unfortunately did have time to read beyond the skimming, and the first thing I noticed is excerpted from Footnote 9 - Related Party Transactions - below.

"Employment agreements

During the six months ended June 30, 2021 and 2020, the Company recorded management fees of $270,000 and $252,000, bonus of $976,200 and $0 and paid $301,300 and $62,300, respectively."

That's right - of the operating loss for the first six months of 2021 of $2,175,343, 44.88% of it consists of bonuses paid to related parties.

Bonuses for what? Certainly not for improving the gross margin percentage. The gross margin performance regressed from 3.43% in the first quarter to 0.28% in the second quarter.

Leandro had better offer some really valid justifications for this lack of performance when he gives his update Thursday, including plans to improve the margin structure and reasons for why margins declined so precipitously in the second quarter.

Can anyone justify the company's second quarter performance or lack thereof?