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IQST - iQSTEL Eliminates All Convertible Debt In Preparation To Up-List
NEW YORK, Jan. 12, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) today announced eliminating all derivative liabilities including convertible debt and
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, Jan. 12, 2021 /PRNewswire/ -- iQSTEL, Inc. (USOTC: IQST) today announced eliminating all derivative liabilities including convertible debt and warrants. The exchange of derivative liabilities into standard commercial promissory notes bearing 10% interest includes an overall reduction of debt. The balance sheet improvements are intended to enhance the company's current efforts to up-list onto a major exchange.\n \n \n\"As we prepare for a potential up-list onto a major stock exchange, we recognize the importance of a strong balance sheet in order to maximize shareholder confidence. We look forward to further optimizing the company for the up-list process, and will continue reporting our corporate progress to shareholders,\" commented Leandro Iglesias, iQSTEL's CEO. \"We anticipate the current elimination of the derivative liabilities to have a very positive impact on our Q1 financials. With the confidence of our shareholders, management intends to further reduce outstanding debt to a minimum over the next months.\"\nAbout iQSTEL Inc (Updated):\niQSTEL Inc (OTC: 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, Financial Services, Liquid Fuel Distribution and Electric Vehicle Industries. iQSTEL has 3 Business Divisions: Telecom, Technology and Fintech, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, itsBchain and Global Money One. 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 Gas Platform, IoT Smart Electric Vehicle Platform, Mobile Number Portability Application MNPA (Blockchain), Settlement & Payments Marketplace (Blockchain), Visa Debit Card, Money Remittance, and Pay Mobile Phone Services among others.\nAbout Etelix.com USA LLC (iQSTEL´s Telecom Division):\nEtelix.com USA LLC (www.etelix.com) is a wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami, Florida-based international telecom carrier founded in 2008 that provides telecom and technology solutions worldwide, with commercial pres...