10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001663577-23-000243 |
| Period End Date | 20230331 |
| Filing Date | 20230515 |
| Fiscal Year | 2023 |
| Fiscal Period | Q1 |
| XBRL Instance | iqst10q_033123_htm.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
66 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Preferred Stock, Shares Authorized |
PreferredStockSharesAuthorized
|
1.20M | shares | Point-in-time |
| Preferred Stock, Par or Stated Value Per Share |
PreferredStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$1.78M | USD | Point-in-time |
| Cash |
CashAndCashEquivalentsAtCarryingValue
|
$1.33M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$3.97M | USD | Point-in-time |
| Accounts receivable, net |
AccountsReceivableNetCurrent
|
$4.21M | USD | Point-in-time |
| Inventory |
InventoryNet
|
$26.12K | USD | Point-in-time |
| Common Stock, Shares Authorized |
CommonStockSharesAuthorized
|
300.00M | shares | Point-in-time |
| Inventory |
InventoryNet
|
$26.12K | USD | Point-in-time |
| Common Stock, Par or Stated Value Per Share |
CommonStockParOrStatedValuePerShare
|
$0.00 | USD | Point-in-time |
| Due from related parties |
LoansAndLeasesReceivableRelatedParties
|
$400.89K | USD | Point-in-time |
| Due from related parties |
LoansAndLeasesReceivableRelatedParties
|
$326.32K | USD | Point-in-time |
| Prepaid and other current assets |
PrepaidExpenseCurrent
|
$563.22K | USD | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
164.60M | shares | Point-in-time |
| Prepaid and other current assets |
PrepaidExpenseCurrent
|
$545.63K | USD | Point-in-time |
| Common Stock, Shares, Outstanding |
CommonStockSharesOutstanding
|
161.60M | shares | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$6.74M | USD | Point-in-time |
| Total Current Assets |
AssetsCurrent
|
$6.44M | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$433.12K | USD | Point-in-time |
| Property and equipment, net |
PropertyPlantAndEquipmentNet
|
$401.02K | USD | Point-in-time |
| Intangible asset |
FiniteLivedIntangibleAssetsNet
|
$99.59K | USD | Point-in-time |
| Intangible asset |
FiniteLivedIntangibleAssetsNet
|
$99.59K | USD | Point-in-time |
| Goodwill |
Goodwill
|
$5.17M | USD | Point-in-time |
| Goodwill |
Goodwill
|
$5.17M | USD | Point-in-time |
| Deferred tax assets |
DeferredTaxAssetsNet
|
$445.10K | USD | Point-in-time |
| Deferred tax assets |
DeferredTaxAssetsNet
|
$440.13K | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$12.55M | USD | Point-in-time |
| TOTAL ASSETS |
Assets
|
$12.89M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$2.25M | USD | Point-in-time |
| Accounts payable |
AccountsPayableCurrent
|
$2.27M | USD | Point-in-time |
| Accrued and other current liabilities |
OtherAccruedLiabilitiesCurrent
|
$2.48M | USD | Point-in-time |
| Accrued and other current liabilities |
OtherAccruedLiabilitiesCurrent
|
$2.75M | USD | Point-in-time |
| Due to related parties |
ConvertibleNotesPayableCurrent
|
$26.61K | USD | Point-in-time |
| Due to related parties |
ConvertibleNotesPayableCurrent
|
$26.61K | USD | Point-in-time |
| Loans payable |
LoansPayableCurrent
|
$95.41K | USD | Point-in-time |
| Loans payable |
LoansPayableCurrent
|
$94.34K | USD | Point-in-time |
| Loans payable - related parties |
OtherLoansPayableCurrent
|
$235.95K | USD | Point-in-time |
| Loans payable - related parties |
OtherLoansPayableCurrent
|
$238.61K | USD | Point-in-time |
| Derivative liabilities |
DerivativeLiabilitiesCurrent
|
$1.36M | USD | Point-in-time |
| Derivative liabilities |
DerivativeLiabilitiesCurrent
|
$921.22K | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$6.30M | USD | Point-in-time |
| Total Current Liabilities |
LiabilitiesCurrent
|
$6.45M | USD | Point-in-time |
| Loans payable, non-current |
LoansPayableToBank
|
$108.15K | USD | Point-in-time |
| Loans payable, non-current |
LoansPayableToBank
|
$100.25K | USD | Point-in-time |
| Employee benefits, non-current |
AccruedEmployeeBenefitsCurrentAndNoncurrent
|
$155.98K | USD | Point-in-time |
| Employee benefits, non-current |
AccruedEmployeeBenefitsCurrentAndNoncurrent
|
$154.24K | USD | Point-in-time |
| TOTAL LIABILITIES |
Liabilities
|
$6.71M | USD | Point-in-time |
| TOTAL LIABILITIES |
Liabilities
|
$6.56M | USD | Point-in-time |
| Common stock: 300,000,000 authorized; $0.001 par value 164,596,688 and 161,595,511 shares issued and outstanding, respectively |
CommonStockValue
|
$164.60K | USD | Point-in-time |
| Common stock: 300,000,000 authorized; $0.001 par value 164,596,688 and 161,595,511 shares issued and outstanding, respectively |
CommonStockValue
|
$161.59K | USD | Point-in-time |
| Additional paid in capital |
AdditionalPaidInCapital
|
$31.78M | USD | Point-in-time |
| Additional paid in capital |
AdditionalPaidInCapital
|
$31.14M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-24.87M | USD | Point-in-time |
| Accumulated deficit |
RetainedEarningsAccumulatedDeficit
|
$-24.50M | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-32.75K | USD | Point-in-time |
| Accumulated other comprehensive loss |
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
$-33.56K | USD | Point-in-time |
| Equity attributable to stockholders of iQSTEL Inc. |
StockholdersEquity
|
$7.05M | USD | Point-in-time |
| Equity attributable to stockholders of iQSTEL Inc. |
StockholdersEquity
|
$7.42M | USD | Point-in-time |
| Equity attributable to stockholders of iQSTEL Inc. |
StockholdersEquity
|
$7.90M | USD | Point-in-time |
| Equity attributable to stockholders of iQSTEL Inc. |
StockholdersEquity
|
$6.76M | USD | Point-in-time |
| Deficit attributable to noncontrolling interests |
MinorityInterest
|
$-719.24K | USD | Point-in-time |
| Deficit attributable to noncontrolling interests |
MinorityInterest
|
$-924.38K | USD | Point-in-time |
| TOTAL STOCKHOLDERS' EQUITY |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$5.84M | USD | Point-in-time |
| TOTAL STOCKHOLDERS' EQUITY |
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
$6.33M | USD | Point-in-time |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
LiabilitiesAndStockholdersEquity
|
$12.55M | USD | Point-in-time |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
LiabilitiesAndStockholdersEquity
|
$12.89M | USD | Point-in-time |
Income Statement
44 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Revenues |
Revenues
|
$19.42M | USD | 1 Quarter |
| Revenues |
Revenues
|
$24.67M | USD | 1 Quarter |
| Cost of revenue |
CostOfRevenue
|
$18.94M | USD | 1 Quarter |
| Cost of revenue |
CostOfRevenue
|
$23.45M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$1.22M | USD | 1 Quarter |
| Gross profit |
GrossProfit
|
$484.06K | USD | 1 Quarter |
| General and administration |
GeneralAndAdministrativeExpense
|
$989.50K | USD | 1 Quarter |
| General and administration |
GeneralAndAdministrativeExpense
|
$1.53M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$1.53M | USD | 1 Quarter |
| Total operating expenses |
OperatingExpenses
|
$989.50K | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-505.44K | USD | 1 Quarter |
| Operating loss |
OperatingIncomeLoss
|
$-317.53K | USD | 1 Quarter |
| Other income |
OtherNonoperatingIncome
|
$24.16K | USD | 1 Quarter |
| Other income |
OtherNonoperatingIncome
|
- | USD | 1 Quarter |
| Other expenses |
OtherNonoperatingIncomeExpense
|
$-33.95K | USD | 1 Quarter |
| Other expenses |
OtherNonoperatingIncomeExpense
|
$-28.56K | USD | 1 Quarter |
| Interest expense |
InterestExpense2
|
$3.65K | USD | 1 Quarter |
| Interest expense |
InterestExpense2
|
$14.89K | USD | 1 Quarter |
| Change in fair value of derivative liabilities |
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss1
|
- | USD | 1 Quarter |
| Change in fair value of derivative liabilities |
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss1
|
$196.31K | USD | 1 Quarter |
| Total other income (expense) |
NonoperatingIncomeExpense
|
$158.71K | USD | 1 Quarter |
| Total other income (expense) |
NonoperatingIncomeExpense
|
$-19.29K | USD | 1 Quarter |
| Net loss before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-524.73K | USD | 1 Quarter |
| Net loss before provision for income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
$-158.82K | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
- | USD | 1 Quarter |
| Income taxes |
IncomeTaxExpenseBenefit
|
- | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-158.82K | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-524.73K | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interests |
NetIncomeLossAttributableToNoncontrollingInterest
|
$30.24K | USD | 1 Quarter |
| Less: Net income attributable to noncontrolling interests |
NetIncomeLossAttributableToNoncontrollingInterest
|
$204.36K | USD | 1 Quarter |
| Net loss attributable to stockholders of iQSTEL Inc. |
NetIncomeLoss
|
$-363.19K | USD | 1 Quarter |
| Net loss attributable to stockholders of iQSTEL Inc. |
NetIncomeLoss
|
$-554.97K | USD | 1 Quarter |
| Foreign currency adjustment |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest
|
$-1.58K | USD | 1 Quarter |
| Foreign currency adjustment |
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest
|
$384.00 | USD | 1 Quarter |
| Total comprehensive (loss) |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$-157.25K | USD | 1 Quarter |
| Total comprehensive (loss) |
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
$-525.12K | USD | 1 Quarter |
| Less: Comprehensive income attributable to noncontrolling interests |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$30.05K | USD | 1 Quarter |
| Less: Comprehensive income attributable to noncontrolling interests |
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
$205.14K | USD | 1 Quarter |
| Net comprehensive (loss) attributable to stockholders of iQSTEL Inc. |
ComprehensiveIncomeNetOfTax
|
$-555.17K | USD | 1 Quarter |
| Net comprehensive (loss) attributable to stockholders of iQSTEL Inc. |
ComprehensiveIncomeNetOfTax
|
$-362.38K | USD | 1 Quarter |
| Basic and diluted loss per common share |
EarningsPerShareDiluted
|
- | USD | 1 Quarter |
| Basic and diluted loss per common share |
EarningsPerShareDiluted
|
- | USD | 1 Quarter |
| Weighted average number of common shares outstanding - Basic and diluted |
WeightedAverageNumberOfShareOutstandingBasic
|
147.54M | shares | 1 Quarter |
| Weighted average number of common shares outstanding - Basic and diluted |
WeightedAverageNumberOfShareOutstandingBasic
|
164.03M | shares | 1 Quarter |
Cash Flow Statement
58 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net loss |
ProfitLoss
|
$-158.82K | USD | 1 Quarter |
| Net loss |
ProfitLoss
|
$-524.73K | USD | 1 Quarter |
| Stock based compensation |
ShareBasedCompensation
|
$11.23K | USD | 1 Quarter |
| Stock based compensation |
ShareBasedCompensation
|
$41.14K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$34.06K | USD | 1 Quarter |
| Depreciation and amortization |
DepreciationDepletionAndAmortization
|
$33.55K | USD | 1 Quarter |
| Amortization of debt discount |
AdjustmentForAmortization
|
- | USD | 1 Quarter |
| Amortization of debt discount |
AdjustmentForAmortization
|
$7.41K | USD | 1 Quarter |
| Change in fair value of derivative liabilities |
IncreaseDecreaseInDerivativeLiabilities
|
- | USD | 1 Quarter |
| Change in fair value of derivative liabilities |
IncreaseDecreaseInDerivativeLiabilities
|
$-196.31K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$-564.37K | USD | 1 Quarter |
| Accounts receivable |
IncreaseDecreaseInAccountsReceivable
|
$87.36K | USD | 1 Quarter |
| Prepaid and other current assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$-24.68K | USD | 1 Quarter |
| Prepaid and other current assets |
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
$16.20K | USD | 1 Quarter |
| Due from related party |
IncreaseDecreaseInDueFromRelatedParties
|
$-23.32K | USD | 1 Quarter |
| Due from related party |
IncreaseDecreaseInDueFromRelatedParties
|
$-5.13K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayableTrade
|
$537.67K | USD | 1 Quarter |
| Accounts payable |
IncreaseDecreaseInAccountsPayableTrade
|
$73.44K | USD | 1 Quarter |
| Other current liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$-39.09K | USD | 1 Quarter |
| Other current liabilities |
IncreaseDecreaseInOtherAccruedLiabilities
|
$-583.96K | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$197.16K | USD | 1 Quarter |
| Net cash provided by (used in) operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$-447.65K | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$24.92K | USD | 1 Quarter |
| Purchase of property and equipment |
PaymentsToAcquirePropertyPlantAndEquipment
|
$63.25K | USD | 1 Quarter |
| Payment of loan receivable - related party |
PaymentsToFundLongtermLoansToRelatedParties
|
$80.00K | USD | 1 Quarter |
| Payment of loan receivable - related party |
PaymentsToFundLongtermLoansToRelatedParties
|
- | USD | 1 Quarter |
| Collection of amounts due from related parties |
ProceedsFromPaymentsForLongTermLoansForRelatedParties
|
$300.00 | USD | 1 Quarter |
| Collection of amounts due from related parties |
ProceedsFromPaymentsForLongTermLoansForRelatedParties
|
- | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-142.95K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-24.92K | USD | 1 Quarter |
| Repayments of loans payable |
RepaymentsOfOtherDebt
|
$232.02K | USD | 1 Quarter |
| Repayments of loans payable |
RepaymentsOfOtherDebt
|
$9.01K | USD | 1 Quarter |
| Proceeds from common stock issued |
ProceedsFromIssuanceOfCommonStock
|
$1.10M | USD | 1 Quarter |
| Proceeds from common stock issued |
ProceedsFromIssuanceOfCommonStock
|
- | USD | 1 Quarter |
| Proceeds from exercise of warrants |
ProceedsFromWarrantExercises
|
$400.00K | USD | 1 Quarter |
| Proceeds from exercise of warrants |
ProceedsFromWarrantExercises
|
- | USD | 1 Quarter |
| Proceeds from issuance of common stock purchase options |
ProceedsFromDerivativeInstrumentFinancingActivities
|
- | USD | 1 Quarter |
| Proceeds from issuance of common stock purchase options |
ProceedsFromDerivativeInstrumentFinancingActivities
|
$500.00K | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$1.37M | USD | 1 Quarter |
| Net cash provided by financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$390.99K | USD | 1 Quarter |
| Effect of exchange rate changes on cash |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$2.63K | USD | 1 Quarter |
| Effect of exchange rate changes on cash |
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$-3.18K | USD | 1 Quarter |
| Net change in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$447.84K | USD | 1 Quarter |
| Net change in cash |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
$892.23K | USD | 1 Quarter |
| Cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$3.33M | USD | Point-in-time |
| Cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.33M | USD | Point-in-time |
| Cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.78M | USD | Point-in-time |
| Cash, beginning of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.23M | USD | Point-in-time |
| Cash, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$3.33M | USD | Point-in-time |
| Cash, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.33M | USD | Point-in-time |
| Cash, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$1.78M | USD | Point-in-time |
| Cash, end of period |
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
$4.23M | USD | Point-in-time |
| Cash paid for interest |
InterestPaidNet
|
- | USD | 1 Quarter |
| Cash paid for interest |
InterestPaidNet
|
$3.33K | USD | 1 Quarter |
| Cash paid for taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Cash paid for taxes |
IncomeTaxesPaidNet
|
- | USD | 1 Quarter |
| Resolution of derivative liabilities upon exercise of warrants |
ResolutionOfDerivativeLiabilitiesValue
|
- | USD | 1 Quarter |
| Resolution of derivative liabilities upon exercise of warrants |
ResolutionOfDerivativeLiabilitiesValue
|
$240.26K | USD | 1 Quarter |
Stockholders Equity
19 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Balance - December 31, 2021 |
StockholdersEquity
|
$7.05M | USD | Point-in-time |
| Balance - December 31, 2021 |
StockholdersEquity
|
$7.42M | USD | Point-in-time |
| Balance - December 31, 2021 |
StockholdersEquity
|
$7.90M | USD | Point-in-time |
| Balance - December 31, 2021 |
StockholdersEquity
|
$6.76M | USD | Point-in-time |
| Common stock issued for warrant exercises |
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
$400.00K | USD | 1 Quarter |
| Common stock issued for compensation |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$11.23K | USD | 1 Quarter |
| Common stock issued for compensation |
StockIssuedDuringPeriodValueShareBasedCompensation
|
$41.14K | USD | 1 Quarter |
| Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture |
StockIssuedDuringPeriodSharesShareBasedCompensation
|
60,000.00 | shares | 1 Quarter |
| Resolution of derivative liabilities upon exercise of warrants |
ResolutionOfDerivativeLiabilitiesValue
|
- | USD | 1 Quarter |
| Resolution of derivative liabilities upon exercise of warrants |
ResolutionOfDerivativeLiabilitiesValue
|
$240.26K | USD | 1 Quarter |
| Foreign currency translation adjustments |
TemporaryEquityForeignCurrencyTranslationAdjustments
|
$-196.00 | USD | 1 Quarter |
| Foreign currency translation adjustments |
TemporaryEquityForeignCurrencyTranslationAdjustments
|
$804.00 | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-363.19K | USD | 1 Quarter |
| Net income (loss) |
NetIncomeLoss
|
$-554.97K | USD | 1 Quarter |
| Common stock issued for cash |
StockIssuedDuringPeriodValueNewIssues
|
$1.00M | USD | 1 Quarter |
| Balance - March 31, 2022 |
StockholdersEquity
|
$7.05M | USD | Point-in-time |
| Balance - March 31, 2022 |
StockholdersEquity
|
$7.42M | USD | Point-in-time |
| Balance - March 31, 2022 |
StockholdersEquity
|
$7.90M | USD | Point-in-time |
| Balance - March 31, 2022 |
StockholdersEquity
|
$6.76M | USD | Point-in-time |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.