iQSTEL to Quadruple Net Income, Add $130M Revenue with ULTRANET Acquisition
IQST sits 71% above its 52-week low of $0.933 on elevated volume (40× avg).
Summary
iQSTEL announced a binding Memorandum of Understanding to acquire a 51% controlling interest in ULTRANET Telecom Group. This acquisition is projected to add approximately $130 million in annual revenue and $4.5 million in annual net income, representing a roughly four-fold increase in iQSTEL's net income from operations. This follows earlier announcements of the MOU in early June and an SEC 8-K filed today, which also highlighted the significant income boost. For a company that recently reported substantial doubt about its ability to continue as a going concern and negative working capital, this deal is highly transformative, significantly scaling its operations and improving its financial health. The acquisition is planned to close in Q3, which will be a key event to confirm the financial impact.
At the time of this announcement, IQST was trading at $1.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $10.7M. The 52-week trading range was $0.93 to $10.68. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.