iQSTEL enters JV for metaverse, reports 25% telecom revenue growth YTD

iQSTEL Inc

Telecom division YTD Feb 28 revenue $16.4M, up 25% YoY from $13.1M.
Management confident on $105M annual revenue forecast and positive operating income in 2023.
Entered MOU with Got My Idol for JV to develop white-label metaverse; iQSTEL owns 51%.
Jose Enrique Puente appointed CEO of new Metaverse division; launch expected next quarter.
Metaverse market estimated $61.8B, growing to $426.9B by 2027.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

iQSTEL Inc reported through February 28, 2023 results: revenue $16.4 million. Guidance reaffirmed.

Period: through February 28, 2023
Revenue: $16.4 million
Guidance: reaffirmed
Result: preliminary results

Exact text from the filing

iQSTEL Inc. (OTCQX: IQST) today announced the company's year-to-date (YTD) revenue for its Telecom Division through Feb 28 th is $16.4 million (unaudited), an increase of 25% compared to $13.1 million for the same period in 2022.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

iQSTEL Inc entered into Memorandum of Understanding with Got My Idol, Inc. (effective 2023-03-20).

Action: entry
Agreement: collaboration
Counterparty: Got My Idol, Inc.
Effective: 2023-03-20

Exact text from the filing

On March 20, 2023, we entered into a Memorandum of Understanding (the “MOU”) with Got My Idol, Inc., a Delaware corporation (“GotMy”).

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iQSTEL Inc filing history →

Source: SEC EDGAR

accession 0001663577-23-000118

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