iQSTEL, Inc. Reaches Agreement With Last Matured Note Holder, M2B, Completing Non-Conversion Agreements Halting All Further Conversions; Move Is Part Of Company’s NYSE Or NASDAQ Uplisting Strategy
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Summary
- iQSTEL, Inc. (OTC: IQST) Reaches Agreement With Last Matured Note Holder, M2B, Completing Non-Conversion Agreements Halting All Further Conversions; Move Is Part Of Company’s NYSE Or NASDAQ Uplisting Strategy.
iQSTEL, Inc. (OTC: IQST) announced today (September 8, 2020) it has completed a multipurpose agreement with its last matured note holder, M2B Funding Corp., a Florida Corporation, completing non-conversion agreements with all matured note holders, as part of its strategy for uplisting to the NYSE or NASDAQ exchanges. iQSTEL, Inc. (OTC: IQST), a 21st century enhanced telecommunications service provider, has been successful in halting all further conversions. Its agreement with the Company’s last matured note holder halts all further conversions, the company said. The move was detailed in an 8-K SEC filing.
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iQSTEL, Inc. (OTC: IQST) Reaches Agreement With Last Matured Note Holder, M2B, Completing Non-Conversion Agreements Halting All Further Conversions; Move Is Part Of Company’s NYSE Or NASDAQ Uplist Strategy
iQSTEL, Inc. (OTC: IQST) announces it has reached agreement with its last matured note holder, M2B, allowing for a moratorium on conversions until November 2020 with an extension option through February 2021. The extension is contingent upon a $150,000 payment due by November 30, 2020 and, in addition, a payment plan is in place moving forward. iQSTEL, Inc. (OTC: IQST) said it has reduced its debt load significantly and halted conversions from M2B. The company’s Reg A investor is pleased with this last and final halt to conversions and expected to continue their support of iQSTEL, the Company said. iQSTEL, Inc. (OTC: IQST) Reaches Agreement With Last Matured Note Holder, M2B, Completing Non-Conversion Agreements Halting All Further Conversions; Move Is Part Of Company’s NYSE Or NASDAQ Uplisting Strategy.
Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), said, “It has been a long road but our consistent efforts focused on business growth and strong acquisitions are bearing fruit as detailed in the recent 10-Q and press releases. Net income is a huge milestone, and a required part of our NYSE or NASDAQ uplist plans, along with debt reduction and halting of dilutionary conversions. We thank M2B for their support and wish them well on future endeavors.”
He added, “This Lock-Up and Leak out agreement with M2B is another key component for our subsequent acquisition plans.” Details of the agreement are in the 8K SEC filing available on the company website filings and disclosure page at iQSTEL. iQSTEL, Inc. (OTC: IQST) Reaches Agreement With Last Matured Note Holder M2B, Completing Non-Conversion Agreements Halting All Further Conversions; Move Is Part Of Company’s NYSE Or NASDAQ Uplisting Strategy.
In an earlier press release, Mr. Iglesias, CEO of iQSTEL, Inc. (OTC: IQST), said that the Company was working with its debt holders to mitigate conversions. iQSTEL, Inc. (OTC: IQST) Reaches Agreement With Last Matured Note Holder M2B, Completing Non-Conversion Agreements Halting All Further Conversions; Move Is Part Of Company’s NYSE Or NASDAQ Uplisting Strategy.
iQSTEL Inc. (OTC: IQST) Subsidiary Listing
The parent company owns a 75% stake in blockchain subsidiary itsBchain LLC, iQSTEL Inc. (OTC: IQST) wholly owns Miami-based subsidiary, Etelix.com USA, LLC, an American-based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). It owns 51% of SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more. It owns 51% of QGlobal SMS LLC, a U.S.-based company which has international interconnection with Tier 1 SMS aggregators to more than 100 countries worldwide. It has acquired 51% of an Austin, Texas-based SMS U.S.-Mexico Service provider. Most recently it acquired IoT Labs MX SAPI. This Internet of Things (IoT) company is the creator of the “IoT Smart Gas” platform and application.
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