$b_rich$'s Penny Bank Stocks

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iQSTEL Inc (OTCQX: IQST) is making a big move up in recent days since reversing off $0.36 lows. This week the Company reported it has received a formal offer to purchase iQSTEL’s entire electric vehicle (EV) subsidiary. The offer values iQSTEL’s EVOSS Electric Vehicle operation substantially higher than iQSTEL’s internal valuation. The buyer is a US company that has filed an S-1 for an initial public offering (IPO) on Nasdaq. According to IQST management “The offer to acquire iQSTEL’s electric vehicle business independent of iQSTEL’s telecommunications business also demonstrates that it may be in the best interest of iQSTEL shareholders for the company to pursue separate Nasdaq listings for its telecommunications and electric vehicle businesses. However, iQSTEL Management and the Board of Directors believe it would be best to pursue such independent Nasdaq listings directly and separate from any merger and acquisition in order to minimize any potential dilution to the iQSTEL shareholders and optimize the market valuation of each separate business. Accordingly, iQSTEL Management and the Board of Directors have decided to decline the subject offer”

https://microcapdaily.com/iqstel-inc-otcqx-iqst-heating-up-as-co-rejects-formal-offer-for-ev-business-more-on-5g-loi-up-listing-telecom-business-growth/