Dear Shareholders:
The first month of 2022 is now behind us bringing iQSTEL one month closer to our target Nasdaq uplisting. We continue on track toward our uplisting objective and this week I am pleased to feature our ongoing operational performance as an indicator of our preparedness for a Nasdaq uplisting.
We achieved an estimated $6.7 million in revenue in January, which is a 42% increase over the $4.8 million in revenue we realized in January 2021.
In January, iQSTEL also received The Smart Appliance Product of the Year Award from IoT Breakthrough for its IoTSmartTank device.
January also saw iQSTEL reach a notable milestone as it formally entered the electric vehicle (EV) market place with its first EVs rolling off the production line.
These three substantial milestones in the first month of the year - double digit revenue growth, a technology award, and EV market entry - are strong positive indicators of what lies ahead for iQSTEL in 2022 and, I believe, representative of iQSTEL's Nasdaq worthy caliber.
In my last letter, I reported that iQSTEL has been actively exploring an engagement with an investment bank to sponsor our uplisting to Nasdaq and to assist in the execution of our merger and acquisition campaign. I am now happy to announce that the iQSTEL Independent Board of Directors (BOD) has authorized management to engage with such an investment bank.
Here at iQSTEL, the management team and BOD continue in our confidence that the prevailing market conditions are not an impediment to the company's 2022 objectives. We feel our January operational performance demonstrates that the prevailing market conditions are not standing in our way. We remain confident that the market will digest inflationary concerns and other post Covid economic impacts and otherwise see and reflect the enormous market expansion opportunities we see so clearly. We likewise remain optimistic in the potential of iQSTEL's share price to organically rise to the Nasdaq minimum listing requirement.
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