IQST – IQSTEL One Step Closer To Nasdaq Uplisting

Rhea-AI Summary

iQSTEL, Inc. (OTCQB: IQST) announced its ongoing plans for a Nasdaq uplisting, emphasizing the formation of an Independent Audit Committee (IAC) as a crucial step. The IAC, comprising three independent Board members, aims to enhance corporate governance, aligning with requirements for uplisting. CEO Iglesias noted that the IAC will bolster investor confidence. The company is also updating its website with details on its B2B and B2C operations, focusing on maximizing shareholder value.

Positive

• Formation of an Independent Audit Committee to enhance corporate governance.
• Commitment to pursue Nasdaq uplisting, potentially increasing visibility and investment opportunities.
• Updating the website to better inform stakeholders about business strategies.

Negative

• None.

New York, NY, Aug. 25, 2021 (GLOBE NEWSWIRE) -- iQSTEL, Inc. (OTCQB: IQST) today reiterated the company’s commitment to pursuing an uplisting to Nasdaq.

Earlier this year, On June 28, 2021, the company expanded the Board of Directors (BOD) to establish the Board as an Independent Board of Directors in conjunction with requirements for an exchange uplisting.

Now we are establishing an Independent Audit Committee (IAC) as a next step in our preparation for an exchange uplisting.

Our IAC will consist of our three current independent members of our Board: Raul Perez, Jose Antonio Barreto, and Italo Segnini. Raul Perez will lead the Audit Committee as the Financial, Controller and Compliance expert of the BOD.

Mr. Iglesias commented: “The Independent Audit Committee is one of the corporate governance prerequisites for both the OTCQX and Nasdaq. At the same time, the IAC will serve as a resource that can bolster investor and shareholder confidence in the company’s transparent management.”

Mr. Iglesias added: “We are updating our website in conjunction with our governance updates in addition to providing more details on our recently announced B2B IQSTelecom and B2C EVOSS organizational updates and how the two divisions apply different strategies to pursues one goal maximizing shareholder value.”

iQSTEL Inc. (OTCQB: IQST) (www.iQSTEL.com) is a US-based publicly-listed company with an Independent Board of Directors offering leading-edge Telecommunication, Technology and Fintech Services for Global Markets, with presence in 15 countries.  The company provides services to the Telecommunications, Electric Vehicle (EV), Financial Services, Chemical and Liquid Fuel Distribution Industries. iQSTEL has 5 Business Divisions: Telecom, Electric Vehicle (EV), Fintech, Technology and Blockchain, with worldwide B2B and B2C customer relations operating through its subsidiaries: Etelix, SwissLink, QGlobal SMS, SMSDirectos, Global Money One, IoT Labs and itsBchain. The Company has an extensive portfolio of products and services for its clients: SMS, VoIP, international fiber-optic connectivity for 5G, Cloud-PBX, OmniChannel Marketing, EV Batteries, EV Chargers, EV Battery Management System, EV IoT Connectivity, Mobile App For EV Connectivity, EV Dashboard Display, Visa/Mastercard Debit Card, Cryptocurrency Exchange Services, Money Remittance, Mobile Top Up, IoT Smart Gas Platform, IoT Smart Tank Platform, Mobile Number Portability Application MNPA (Blockchain Platform) and Settlement & Payments Marketplace SPM (Blockchain Platform).

Safe Harbor Statement: Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

iQSTEL Inc.
IR US Phone: 646-740-0907, IR Email: investors@iqstel.com
Source: iQSTEL Inc. and its subsidiaries: www.iqstel.com  

FAQ

What are iQSTEL's plans for Nasdaq uplisting?

iQSTEL is committed to pursuing an uplisting to Nasdaq and has established an Independent Audit Committee to meet the necessary governance requirements.

Who is on iQSTEL's Independent Audit Committee?

The Independent Audit Committee consists of three current independent Board members: Raul Perez, Jose Antonio Barreto, and Italo Segnini.

How will the Independent Audit Committee impact iQSTEL?

The Independent Audit Committee is designed to enhance corporate governance and bolster investor confidence in iQSTEL's management.

What updates is iQSTEL making regarding its business strategies?

iQSTEL is updating its website to provide more information on its B2B and B2C divisions and strategies aimed at maximizing shareholder value.

When was the announcement made regarding the Independent Audit Committee?

The announcement about the Independent Audit Committee was made on August 25, 2021.