IQSTEL Plans to Uplist to Nasdaq, Releases Business Plan

Dow Jones07-16

By Stephen Nakrosis

IQSTEL said it published a comprehensive business plan that outlines its strategy to reach $500 million in annual sales as it plans to uplist its stock listing to the Nasdaq.

The company's shares currently trade over the counter.

The telecommunications and technology company said Monday it intends to transition from a holding company into a single, unified commercial operation structure.

IQSTEL plans to complete its previously announced acquisition of Lynk Telecom, and the ultimate aim of its acquisition strategy is to prepare for a Nasdaq uplisting, the company added.

The company meets Nasdaq requirements except the minimum share price, IQSTEL said.

The company's stock was trading at 23 cents per share on Monday.

IQSTEL's business lines include enhanced telecommunications, fintech services, electric vehicles, and an AI-enhanced Metaverse technology platform.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 15, 2024 12:53 ET (16:53 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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