Quest Oil Corporation acquires Skycom Mobile, Inc.
Rhea-AI Summary
Quest Oil (OTC: QOIL) has announced its acquisition of Skycom Mobile, a South Dakota-based mobile telecom operator, marking a strategic pivot from oil to telecommunications. The company will rebrand as Skycom, Inc. and plans to launch eSIM services in Q4 2025.
Skycom's core offering features the exclusive iPass Switchboard technology, a patented solution that automatically switches between 4G/5G, Satellite, and free Wi-Fi connectivity based on quality and cost-effectiveness. The company aims to eliminate roaming charges and provide nationwide wireless coverage.
To support this transition, the company is initiating two funding rounds, with an initial $5 million sought for platform and brand development. Markwin Maring, Skycom Mobile's founder, will serve as Chairman of the Board while managing daily operations.
Positive
- Strategic pivot from oil to high-growth telecommunications sector
- Exclusive rights to patented iPass Switchboard technology
- Planned Q4 2025 launch of innovative eSIM services
- Access to public markets for capital raising
Negative
- Requires substantial funding through multiple rounds
- Complete business model transformation carries execution risks
- No immediate revenue generation until Q4 2025 launch
- Faces intense competition in telecommunications sector
A Strategic Shift to Mobile Telecommunications
NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- Quest Oil Corporation (OTC: QOIL) is embarking on a new direction by acquiring Skycom Mobile Inc., a mobile telecom operator based in Watertown, South Dakota. This acquisition signifies Quest Oil’s strategic transition from the oil industry to the mobile telecommunications sector.
Skycom Mobile, Inc. specializes in developing and deploying mobile software that supports nationwide wireless data and voice connectivity. Central to its innovation is the exclusive iPass Switchboard technology, which seamlessly switches between 4G/5G signals, Satellite and free Wi-Fi connectivity based on quality and most favorable pricing. Developed and patented by iPass, a US-European Wi-Fi software company, this cutting-edge technology delivers users unparalleled connectivity and cost efficiency. Skycom will launch its high-quality eSIM services for enterprises and individual consumers in Q4 2025.
As part of its new direction, Quest Oil Corporation will rebrand as Skycom, Inc. The company is preparing for its first funding round, seeking
Leadership Change
Markwin Maring, founder and owner of Skycom Mobile, Inc., will assume the role of Chairman of the Board of Directors while continuing to manage daily operations.
Commencing on the acquisition, Maring stated:
“By becoming a publicly traded company, Skycom Mobile can accelerate the development and rollout of its innovative mobile services across the U.S. We are excited to exclusively introduce the Switchboard technology, which ensures the best and most cost-effective connectivity by automatically selecting and switching between 4G/5G, Satellite and free Wi-Fi signal. With Skycom eSIM, we aim to enhance mobile and wireless communications by supporting nationwide connectivity for all and eliminate expensive roaming charges and providing unmatched flexibility. Our mission is to introduce a transparent business model which makes mobile connectivity better and more affordable for everyone.”
For media inquiries:
press@skycom.us
FAQ
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