New York, NY, June 14, 2022 — McapMediaWire — iQSTEL, Inc. (OTCQX: IQST) today announced the company’s revenue for the month of May is $6.9 million based on preliminary accounting. The company’s year-to-date (YTD) revenue through the end of May based on the preliminary accounting is over $33 million representing an increase of 39% over the approximate $24 million realized in the same period the previous year.
Beginning this month in June, iQSTEL will start to realize the revenue generated by the recent Smartbiz and Whisl acquisitions. Combined, the two acquisitions are anticipated to add $11.6 million in annual revenue and $1.34 million in positive net income. The iQSTEL Q2 and Q3 financial reports will reflect the contribution of the two acquisitions.
The company continues to work on the recently announced opportunity to add 2300 miles of fiber optic network in America in addition to advancing the new initiative announced last week exploring the spinoff and Nasdaq listing of iQSTEL’s EVOSS electric vehicle motorcycle division.
iQSTEL remains solidly on track to achieve its $90 million, net income positive, 2022 revenue forecast.
About iQSTEL Inc.:
iQSTEL Inc (OTCQX: IQST) (www.iQSTEL.com) is a US-based publicly listed company offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 13 countries. The company provides services to the Telecommunications, Electric Vehicle (EV), Liquid Fuel Distribution, Chemical and Financial Services Industries. iQSTEL has 4 Business Divisions: Telecom, Technology, Fintech and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, Global Money One and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, 4G & 5G international infrastructure connectivity, Cloud-PBX, OmniChannel Marketing, IoT Smart Electric Vehicle Platform, iQ Batteries for Electric Vehicles, IoT Smart Gas Platform, IoT Smart Tank Platform, Visa Debit Card, Money Remittance, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace (Blockchain Platform).
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Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com