#Tech/ #Telecom #Stock Alert: iQSTEL (OTC: $IQST) Board of Directors Instructs Management
to Fight Naked Shorting; @IQstel
New York, NY, March 27, 2023 –(Investorideas.com newswire) Tech/ Telecom Stock Alert at
Investor Ideas - iQSTEL (OTC: IQST) today announced its
Independent Board of Directors (BOD) instructed management to identify specific
IQST naked shorting targets and to fight against those targets. Toward that
end, management has entered into negotiations with a highly specialized firm in
matters of naked short selling. This
firm has a reputation for finding and countering naked shorting issues.
Read this news,
featuring IQST in full at https://www.investorideas.com/news/2023/technology/03272IQST-Fight-Naked-Shorting.asp
OTCShortReport indicates short
selling has exceeded 50% of the daily iQSTEL daily trading volume on more than
one occasion in the last month.
OTCShortReport aggregates REGSHO data reported by FINRA.
The prominence of short selling became a high visibility topic
when a crowd sourced short squeeze catapulted the share price of GameStop. The GameStop short selling subject was
featured in the HBO documentary Gaming Wall
Street.
MarketWatch recently published an article titled Why Short Selling Has Recently
Become A Hot Topic that explains short selling in fair
detail and includes information on short selling in the OTC markets.
“We have received communications from our shareholders expressing
concern that the IQST share price is suffering the impact of naked short
selling,” said iQSTEL CEO Leandro Iglesias. “In response to these concerns, the iQSTEL Independent
Board of Directors has authorized management to act accordingly. Management has
entered into negotiations to engage a well respected firm in matters of naked
short selling. This firm, subject to
finalizing an engagement, will perform a deep analysis of the naked shorting in
IQST to identify any specific bad actors. If we identify illegal activity, we will
address that activity in court to defend our company to the fullest extent of
the law. We are not blazing a new trail in the fight against short
selling. We will be following in the
footsteps of proven tactics against short sellers.”
About IQSTEL
updated:
iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational public
company preparing for a Nasdaq up-listing with an FY2023 $105 million revenue
forecast. iQSTEL’s mission is to serve basic human needs in today’s modern world
by making the necessary tools accessible regardless of race, ethnicity,
religion, socioeconomic status, or identity.
iQSTEL recognizes that in today’s modern world, the pursuit of the human
hierarchy of needs (physiological, safety, relationship, esteem and self
actualization) is marginalized without access to ubiquitous communications, the
freedom of virtual banking, clean affordable mobility and information and
content. iQSTEL has 4 Business Divisions delivering accessibly to the necessary
tools in today’s pursuit of basic human needs: Telecommunications, Fintech,
Electric Vehicles and Metaverse.
The Telecommunications Division
(Communications) includes VoIP, SMS, International Fiber-Optic, Proprietary
Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain
Platform.
The Fintech Division (Financial
Freedom) includes remittances services, top up services, Master Card Debit
Card, a US Bank Account (No SSN required), and a Mobile App.
The Electric Vehicles Division
(Mobility) offers Electric Motorcycles and plans to launch a Mid Speed Car.
The Metaverse Division (information
and content) includes an enriched and immersive white label proprietary
Metaverse platform to access products, services, content, entertainment,
information, customer support, and more in a virtual 3D interface.
The company continues to grow and
expand its suite of products and services both organically and through mergers
and acquisitions (M&A). iQSTEL has
completed 10 acquisitions since June 2018 and continues to develop an active
pipeline of potential future acquisitions.
Safe Harbor
Statement: Statements in this news release may be "forward-looking
statements". Forward-looking statements include, but are not limited to,
statements that express our intentions, beliefs, expectations, strategies,
predictions, or any other information relating to our future activities or
other future events or conditions. These statements are based on current
expectations, estimates, and projections about our business based partly on
assumptions made by management. These statements are not guarantees of future
performance and involve risks, uncertainties, and assumptions that are
difficult to predict. Therefore, actual outcomes and results may and are likely
to differ materially from what is expressed or forecasted in forward-looking
statements due to numerous factors. Any forward-looking statements speak only
as of the date of this news release, and iQSTEL Inc. undertakes no obligation
to update any forward-looking statement to reflect events or circumstances
after the date of this news release. This press release does not constitute a
public offer of any securities for sale. Any securities offered privately will
not be or have not been registered under the Act and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration requirements.
iQSTEL Inc.
IR US Phone: 646-740-0907
IR Email: investors@iqstel.com
Contact Details
iQSTEL Inc.
+1 646-740-0907
Company Website
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