iQSTEL agrees to acquire 51% of Lynk Telecom for $1.5M; adds $20M revenue, $1M net income

iQSTEL Inc

Purchase price $1.5M paid in 12 monthly installments of $125k; closing expected by July 1, 2024.
Lynk Telecom estimated at $20M annual revenue and $1M net income; provides telephony, SMS, connectivity in US.
iQSTEL may lend up to $1.5M for retail expansion after Phase I goals; CEO Omar Luna to remain.
Acquisition includes potential earn-out if projections exceeded; Lynk Holding to use proceeds to pay Voyce Telecom debt.

Key facts

Extracted from this filing and checked against the source text.

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

iQSTEL Inc entered into Purchase Agreement with Omar Luna and Lynk Holding LLC valued at $1,500,000 (effective 2024-05-10).

Action: entry
Agreement: asset purchase
Counterparty: Omar Luna and Lynk Holding LLC
Value: $1,500,000
Effective: 2024-05-10

Exact text from the filing

On May 10, 2024, we entered into a Purchase Company Agreement (“Purchase Agreement”) with Omar Luna and Lynk Holding LLC (together, the “Seller”) concerning the sale by Seller and the purchase by us of 51% of the membership interests the Seller holds in Lynk Telecom, LLC, a Virginia limited liability company (the “Company”).

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iQSTEL Inc filing history →

Source: SEC EDGAR

accession 0001663577-24-000127

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