I believe Etelix is 100% owned and Etelix alone was 18.6M of the 51.4 reported in Q1. Some subsidiaries are 100% owned some are not. It is all clearly stated on the balance sheet and is clearly stated in the PR's what % they are acquiring anytime they purchase another business. They are reporting according to GAAP, Generally Accepted Accounting Principles, same as any other company. They're required to.
So here's a more real life example to understand. Say you have a friend with a business doing 1M a year in sales and he has 10 employees. He needs some cash and sells you 10% of the business for say 50 grand. You are now a minority owner aka a silent partner. You would not go around saying you have 10% of everything. You don't claim to have 100,000 of the total sales, or that 1 of the 10 employees works for you, or 10% of a building is yours, and especially not that 10% of debt is yours. None of that would make any sense. If you wanted to get a bank loan and said hey I own 10% of that building across the street the bank would laugh at you because you don't own the controlling interest and it's not gonna work as collateral. The only involvement you have is that you would get 10% of any profits that are actually distributed. However, you have no say on if or when any profits even get distributed. The controlling interest literally controls everything. So even though you have a right to 10% of the profits your friend's business makes, your friend can decide to reinvest everything. He can put all profits towards paying down debt, or advertising, anything he wants, he is in control not you. If he sells a building, he doesn't need your permission first. So if he reports using GAAP standards he will claim everything except 10% of the profits bc he is literally in control of everything. He doesn't all of a sudden have a business doing only 900k instead of 1M or 9 employees instead of 10 etc.
That's how IQST works. They report everything because they are in control of everything. However, the balance sheet does include a line for net income OR net loss attributed to non controlling interests, the 49% owners.
Nothing shady is going on, this is standard GAAP reporting and not all subsidiaries are 51% some are 100% owned.
Not a financial advisor, just sharing my personal opinions. But I am here with good intentions unlike imindog who spends all day every day on this board attempting to intentionally mislead people in order to manipulate the share price. Some of us have integrity, some don't.
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