Iqstel Inc (OTCMKTS:IQST) sends out a letter to shareholders, and it happens to be a message from the company’s CEO, Leandro Jose Iglesias. The official consists of all the information shareholders need to know about Form 10k and the Audited Financials. The shareholder will also understand details about the FY-2020 Annual Report.
The letter also provides a comprehensive highlight of the Q1 2021 performance. The company wants to publish some of the major highlights in its upcoming 10Q. Mr. Iglesias, through his letter, provides details about the company’s management plans in Q2 and serves them with the 2021 balance.
Mr. Iglesias thanks the shareholders for keeping communication channels open at all times, outlining that their feedback has propelled the company forward. The official believes that iQSTEL’s business growth has been achievable through joint efforts from all the parties. She termed FY-2020 to be a pretty remarkable year for the company, considering that it provided a basis for its future growth.
The company said has started focusing on strategies that will enable it to consolidate its Telecom Division to run with a single brand name. The plan is to call it IQSTelecom and help optimize the company’s marketing activities. It will also be a great way to support the company’s back-office operations, making them more efficient than ever.
The company has been making efforts to get listed on Nasdaq and sees its improved balance sheet as a tremendous milestone towards achieving its set goal. It is impressed after it managed to clear its convertible debt, and it might soon report about $2 million in cash.
Rapid revenue growth is a good thing for a company striving to get to the point of reporting improved margins. It is happy about the significant reduction in debt servicing, which added up to about $3.5 million, which resulted in higher EBITA.
iQSTEL has also spoken about the completion of an onsite field test it had been focusing on earlier. It sought to develop the best IoTSmartTank devices to satisfy the deal’s terms and conditions with a Fortune 500 Chemical Corporation.