Business
iQSTEL Settles With Two Debt Holders at $0.11/Share, Over 50% Premium to the Market
NEW YORK, NY, Aug. 05, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, NY, Aug. 05, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (OTC: IQST), a leading-edge 21st Century Enhanced Telecommunications Service Provider, continues cleaning up the balance sheet with further debt reductions. Two existing debt holders, BHP Capital NY Inc and Jefferson Street Capital LLC, have agreed to an exchange at a premium to the current market, $0.11/sh, settling the debts in full.\n The debts are fully settled, this includes any and all interest, fees, warrants, etc. Originally the debt included a 50% discount to market conversion rate, interest and other provisions. By settling at $0.11/share, iQSTEL and shareholders not only benefit from the debt reduction but this premium to market shows serious confidence in the ability of iQSTEL management to continue executing on their business plan. Any remaining share reserves will be canceled with the transfer agent. Complete details are available in the 8-K. Mr. Iglesias stated, “Over the last few months we have reached a number of settlements with our creditors as disclosed in 8-K’s and subsequent news releases. We thank BHP and Jefferson for their assistance when we needed it and their continued belief in our company now that we have ‘turned the corner’ and shown net income in our subsidiaries as discussed in last week’s press release.“ iQSTEL 8-K filing: https://www.otcmarkets.com/filing/html?id=14308755&guid=bAnFUqzm3kG1o3h About iQSTEL Inc.: iQSTEL Inc (OTC: IQST) www.iQSTEL.com is a US-based publicly listed company offering leading-edge 21st Century Enhanced Telecommunications Services with a focus on a wide range of cloud-based enhanced services to the Tier-1 and Tier-2 carriers, corporate, enterprise, as well as the retail market. iQSTEL through its subsidiaries Etelix, SwissLink, QGlobal SMS, SMSDirectos, IoT Labs, IoT Smart Gas Platform, itsBchain offers a \"one-stop-shopping” for international and domestic VoIP services, IP-PBX services, SMS exchange for A2P and P2P, OmniChannel Marketing, Internet of Things (IoT) applications (IoT Smart Gas Platform), 4G & 5G international infrastructure connectivity, as well as blockchain-based platforms: Mobile Number Portability Application (MNPA) and Settlement & Payments Marketplace for VoIP, SMS and Data. About Etelix.com USA, LLC: Etelix.com USA LLC www.etelix.com is a wholly owned subsidiary of iQST...