2022 Q1 Form 10-Q Financial Statement

#000166357722000303 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $19.42M $14.20M
YoY Change 36.78% 182.97%
Cost Of Revenue $18.94M $13.71M
YoY Change 38.11% 164.75%
Gross Profit $484.1K $487.4K
YoY Change -0.68% -402.45%
Gross Profit Margin 2.49% 3.43%
Selling, General & Admin $900.1K $1.498M
YoY Change -39.92% 15.46%
% of Gross Profit 185.95% 307.39%
Research & Development $45.16K
YoY Change
% of Gross Profit 9.33%
Depreciation & Amortization $33.55K $20.56K
YoY Change 63.18% 53.09%
% of Gross Profit 6.93% 4.22%
Operating Expenses $978.8K $1.498M
YoY Change -34.66% 15.46%
Operating Profit -$494.7K -$1.011M
YoY Change -51.05% -30.71%
Interest Expense -$14.89K -$352.5K
YoY Change -95.78% -85.68%
% of Operating Profit
Other Income/Expense, Net -$4.410K $24.57K
YoY Change -117.95% 126.24%
Pretax Income -$524.7K -$1.878M
YoY Change -72.07% -51.95%
Income Tax
% Of Pretax Income
Net Earnings -$555.0K -$1.942M
YoY Change -71.43% -50.07%
Net Earnings / Revenue -2.86% -13.68%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.761K -$16.39K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.227M $3.033M
YoY Change 39.38% 1078.64%
Cash & Equivalents $4.227M $3.033M
Short-Term Investments
Other Short-Term Assets $141.1K $117.8K
YoY Change 19.77% 36.73%
Inventory
Prepaid Expenses
Receivables $2.604M $2.462M
Other Receivables $399.6K $221.8K
Total Short-Term Assets $7.372M $5.835M
YoY Change 26.35% 92.4%
LONG-TERM ASSETS
Property, Plant & Equipment $398.9K $335.8K
YoY Change 18.81% 4.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $441.3K $432.1K
YoY Change 2.14% 2.53%
Total Long-Term Assets $2.478M $2.334M
YoY Change 6.16% 6.21%
TOTAL ASSETS
Total Short-Term Assets $7.372M $5.835M
Total Long-Term Assets $2.478M $2.334M
Total Assets $9.850M $8.168M
YoY Change 20.58% 56.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.522M $2.056M
YoY Change -25.99% -9.64%
Accrued Expenses $232.7K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $336.1K $1.928M
YoY Change -82.56% -52.74%
Total Short-Term Liabilities $2.650M $6.409M
YoY Change -58.66% -41.62%
LONG-TERM LIABILITIES
Long-Term Debt $108.4K $248.6K
YoY Change -56.37% 44.61%
Other Long-Term Liabilities $154.7K $151.4K
YoY Change 2.14% -30.07%
Total Long-Term Liabilities $263.1K $400.0K
YoY Change -34.22% 2.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.650M $6.409M
Total Long-Term Liabilities $263.1K $400.0K
Total Liabilities $1.947M $5.919M
YoY Change -67.11% -43.32%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.903M $2.250M
YoY Change
Total Liabilities & Shareholders Equity $9.850M $8.168M
YoY Change 20.58% 56.18%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$555.0K -$1.942M
YoY Change -71.43% -50.07%
Depreciation, Depletion And Amortization $33.55K $20.56K
YoY Change 63.18% 53.09%
Cash From Operating Activities -$447.7K -$1.042M
YoY Change -57.05% 92.33%
INVESTING ACTIVITIES
Capital Expenditures -$24.92K -$18.35K
YoY Change 35.8% -59.47%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$60.00K
YoY Change -100.0% 347.76%
Cash From Investing Activities -$24.92K -$78.35K
YoY Change -68.19% 33.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.368M 3.417M
YoY Change -59.96% 482.17%
NET CHANGE
Cash From Operating Activities -447.7K -1.042M
Cash From Investing Activities -24.92K -78.35K
Cash From Financing Activities 1.368M 3.417M
Net Change In Cash 895.4K 2.296M
YoY Change -61.0% -16871.66%
FREE CASH FLOW
Cash From Operating Activities -$447.7K -$1.042M
Capital Expenditures -$24.92K -$18.35K
Free Cash Flow -$422.7K -$1.024M
YoY Change -58.71% 106.17%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
USD
CY2022Q1 IQST Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss1
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss1
USD
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
USD
CY2021Q1 IQST Preferred Stock Issued For Conversion Of Common Stock Value
PreferredStockIssuedForConversionOfCommonStockValue
USD
CY2022Q1 us-gaap Increase Decrease In Derivative Liabilities
IncreaseDecreaseInDerivativeLiabilities
USD
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
USD
CY2022Q1 IQST Prepayment And Default Penalty
PrepaymentAndDefaultPenalty
USD
CY2021Q1 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
USD
CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
USD
CY2022Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
USD
CY2022Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
USD
CY2021Q1 IQST Proceeds From Common Stock Options Subscribed Unissued
ProceedsFromCommonStockOptionsSubscribedUnissued
USD
CY2022Q1 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
USD
CY2022Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
USD
CY2022Q1 us-gaap Settlement Of Asset Retirement Obligations Through Noncash Payments Amount
SettlementOfAssetRetirementObligationsThroughNoncashPaymentsAmount
USD
CY2022Q1 IQST Preferred Stock Issued For Conversion Of Common Stock
PreferredStockIssuedForConversionOfCommonStock
USD
CY2022Q1 us-gaap Long Term Loans Payable
LongTermLoansPayable
USD
CY2021Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
USD

Files In Submission

Name View Source Status
0001663577-22-000303-index-headers.html Edgar Link pending
0001663577-22-000303-index.html Edgar Link pending
0001663577-22-000303.txt Edgar Link pending
0001663577-22-000303-xbrl.zip Edgar Link pending
ex31_1.htm Edgar Link pending
ex31_2.htm Edgar Link pending
ex32_1.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
image_001.gif Edgar Link pending
iqst-20220331.xsd Edgar Link pending
iqst-20220331_cal.xml Edgar Link unprocessable
iqst-20220331_def.xml Edgar Link unprocessable
iqst-20220331_lab.xml Edgar Link unprocessable
iqst-20220331_pre.xml Edgar Link unprocessable
iqst10q.htm Edgar Link pending
iqst10q_htm.xml Edgar Link completed
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending