Hootowl
Oct 2, 9:16 PM
$IQST Two days overdue, Leo. How's that Ultranet deal going?
Per Copilot:
IQSTEL’s failure to close the Ultranet acquisition by the originally targeted early‑August 2026 deadline appears to have been driven by a combination of financial strain, contingent deal terms, and unresolved operational and regulatory hurdles.
1. IQSTEL had a binding Memorandum of Understanding (MOU) to acquire a 51% stake in Ultranet, with a planned Q3 2026 close and an early‑August definitive agreement target.
By the time of its Q2 2026 earnings release on August 18, 2026, management had not announced a definitive agreement, and the deal remained under negotiation. This meant the MOU’s closing timeline slipped, and the company was still in the “show‑me” phase.
2. The company was already flagged with “substantial doubt” about its going concern, negative working capital, and reliance on a
$50 million equity line that sells shares at a discount.
Q2 results showed a
$0.38 loss per share — wider than expected.
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