2023 Q4 Form 10-Q Financial Statement

#000166357723000520 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $47.25M $39.76M
YoY Change 67.88% 81.24%
Cost Of Revenue $45.61M $38.73M
YoY Change 57.27% 87.81%
Gross Profit $1.642M $1.029M
YoY Change -292.36% -21.78%
Gross Profit Margin 3.48% 2.59%
Selling, General & Admin $1.345M $860.0K
YoY Change 7.41% -19.67%
% of Gross Profit 81.91% 83.62%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $28.74K $30.00K
YoY Change -0.55% 3.99%
% of Gross Profit 1.75% 2.92%
Operating Expenses $1.371M $957.8K
YoY Change 6.98% -23.75%
Operating Profit $271.6K $70.75K
YoY Change -112.72% 20.3%
Interest Expense -$40.59K $10.00K
YoY Change -98.47% -371.0%
% of Operating Profit -14.94% 14.13%
Other Income/Expense, Net -$88.29K -$24.84K
YoY Change -509.32% -21.13%
Pretax Income $55.12K $50.00K
YoY Change -101.08% 83.07%
Income Tax $0.00
% Of Pretax Income 0.0%
Net Earnings -$124.1K -$62.01K
YoY Change -97.51% -9.95%
Net Earnings / Revenue -0.26% -0.16%
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 -$0.01
COMMON SHARES
Basic Shares Outstanding 171.5M shares 166.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.363M $2.000M
YoY Change 2.5% 54.44%
Cash & Equivalents $1.363M $2.001M
Short-Term Investments
Other Short-Term Assets $759.1K $890.0K
YoY Change 1494.64% 62.96%
Inventory $27.12K $27.12K
Prepaid Expenses $1.449M $1.697M
Receivables $12.54M $7.636M
Other Receivables $1.031M $1.230M
Total Short-Term Assets $15.72M $11.79M
YoY Change 144.22% 91.95%
LONG-TERM ASSETS
Property, Plant & Equipment $523.0K $463.0K
YoY Change 30.42% 18.19%
Goodwill $5.172M $5.172M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $641.8K $156.4K
YoY Change 45.81% -62.17%
Total Long-Term Assets $6.436M $6.336M
YoY Change 5.29% 4.26%
TOTAL ASSETS
Total Short-Term Assets $15.72M $11.79M
Total Long-Term Assets $6.436M $6.336M
Total Assets $22.16M $18.12M
YoY Change 76.55% 48.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.966M $4.015M
YoY Change 31.56% 109.82%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $101.9K $180.0K
YoY Change 7.97%
Long-Term Debt Due $752.6K $252.8K
YoY Change 697.75% -371.21%
Total Short-Term Liabilities $13.84M $9.914M
YoY Change 114.53% 257.91%
LONG-TERM LIABILITIES
Long-Term Debt $99.10K $91.02K
YoY Change -8.37% -10.41%
Other Long-Term Liabilities $169.7K $160.0K
YoY Change 10.05% 10.44%
Total Long-Term Liabilities $268.8K $246.9K
YoY Change 2.46% 0.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.84M $9.914M
Total Long-Term Liabilities $268.8K $246.9K
Total Liabilities $13.73M $10.16M
YoY Change 104.53% 236.85%
SHAREHOLDERS EQUITY
Retained Earnings -$26.08M -$25.96M
YoY Change 6.45% 33.05%
Common Stock $172.1K $170.2K
YoY Change 6.52% 12.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.424M $8.528M
YoY Change
Total Liabilities & Shareholders Equity $22.16M $18.12M
YoY Change 76.55% 48.34%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$124.1K -$62.01K
YoY Change -97.51% -9.95%
Depreciation, Depletion And Amortization $28.74K $30.00K
YoY Change -0.55% 3.99%
Cash From Operating Activities -$1.054M $290.0K
YoY Change 281.59% -640.94%
INVESTING ACTIVITIES
Capital Expenditures $60.05K $30.00K
YoY Change 134.75% -176.39%
Acquisitions
YoY Change
Other Investing Activities $67.49K -$30.00K
YoY Change -190.35% -87.99%
Cash From Investing Activities $7.450K -$60.00K
YoY Change -107.43% -79.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 384.0K 660.0K
YoY Change -4.01%
NET CHANGE
Cash From Operating Activities -1.054M 290.0K
Cash From Investing Activities 7.450K -60.00K
Cash From Financing Activities 384.0K 660.0K
Net Change In Cash -662.4K 890.0K
YoY Change -2912.65% -359.8%
FREE CASH FLOW
Cash From Operating Activities -$1.054M $290.0K
Capital Expenditures $60.05K $30.00K
Free Cash Flow -$1.114M $260.0K
YoY Change 269.14% -1913.11%

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CY2022Q3 IQST Weighted Average Number Of Share Outstanding Basic
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IQST Weighted Average Number Of Share Outstanding Basic
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CY2022Q2 us-gaap Stock Issued During Period Value Acquisitions
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CY2022Q2 IQST Common Stock Payable Value
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CY2022Q2 us-gaap Net Income Loss
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CY2022Q2 us-gaap Stockholders Equity
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CY2022Q3 us-gaap Net Income Loss
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us-gaap Increase Decrease In Due From Related Parties
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Fund Longterm Loans To Related Parties
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us-gaap Proceeds From Payments For Long Term Loans For Related Parties
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400 usd
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Other Debt
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1150000 usd
us-gaap Proceeds From Issuance Of Medium Term Notes
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250000 usd
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3334813 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1294981 usd
us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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IQST Series B Preferred Stock Issued As Dividend
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us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
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IQST Stock Issued During Period Value Acquisitions To Be Issued
StockIssuedDuringPeriodValueAcquisitionsToBeIssued
1550000 usd
IQST Common Stock Issued For Settlement Of Debt Value1
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IQST Resolution Of Derivative Liabilities Value
ResolutionOfDerivativeLiabilitiesValue
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dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2011-06-24
us-gaap Use Of Estimates
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<p id="xdx_84C_eus-gaap--UseOfEstimates_zkTGMLssrB36" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b><i>Use of Estimates</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses during the reporting period. Actual results could differ from these good faith estimates and judgments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
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CY2023Q1 us-gaap Advances On Inventory Purchases
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CY2022Q4 us-gaap Income Tax Receivable
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CY2023Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
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357500 usd
CY2022Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
357500 usd
CY2023Q1 us-gaap Common Stock Share Subscribed But Unissued Subscriptions Receivable
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250000 usd
CY2023Q1 us-gaap Security Deposit
SecurityDeposit
20000 usd
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
20000 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1696944 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
545628 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1223046 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1057650 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
463036 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
401021 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
103246 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
351297 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
202492 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
343797 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
202492 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
252779 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
94342 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
91018 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
108150 usd
CY2023Q3 us-gaap Loans Payable
LoansPayable
238291 usd
CY2022Q4 us-gaap Loans Payable
LoansPayable
235949 usd
CY2023Q3 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
238291 usd
CY2022Q4 us-gaap Other Loans Payable Current
OtherLoansPayableCurrent
235949 usd
CY2023Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
246927 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
6436590 usd
CY2022Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
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CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2022Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
262388 usd
us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p id="xdx_80B_eus-gaap--DerivativesReportingOfDerivativeActivity_zvYu7bUesoeg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><b>NOTE 8 – WARRANTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="background-color: white">On April 5, 2022, we entered into a Common Stock Purchase Option Agreement with Apollo Management Group, Inc (Holder) to subscribe for and purchase from the Company, <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220405__20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_z1XhnpTzNNol">4,800,000</span> shares of Common Stock with an exercise price per share of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_z2WPkEztwap">$2.00</span>; and an initial exercisable date on <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisable_c20220405__20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zCEU7168RRHi">September 30, 2022</span>. The purchase price of this option was <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iI_c20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_z4FYSuqIqxje">$500,000</span>. The Company determined that the warrants had a fixed monetary value with a variable number of shares at inception and categorized the warrants as a liability in the accompanying consolidated financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><span id="xdx_900_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternatives_c20220405__20220405__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zgJbpCVtR90c">The Holder and the Company agreed that the Holder had the right and the obligation to exercise, on a cashless basis, $1,000,000 of the Options not later than October 15, 2022. Thereafter, the Holder shall undertake to exercise not less than (i) $400,000 of the Options on a “cash basis” not later than the later of (y) <span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingMaturityDate_iI_c20221114__us-gaap--DebtInstrumentAxis__custom--ApolloOptionMember_zZXykpHMM1Wg">November 14, 2022</span> or (z) the date on which there is an effective registration statement permitting the issuance of the Option Shares to or resale of the Option Shares by the Holder and (ii) an additional <span id="xdx_905_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_iI_c20221214__us-gaap--DebtInstrumentAxis__custom--ApolloOptionAdditionalMember_zia0wKdu6X83">$400,000</span> of the Options on a “cash basis” not later than the latest of (x) thirty (30) days following the exercise of the Option under subsection (i), above, (y) December 14, 2022, or (z) the date on which there is an effective registration statement permitting the issuance of the Option Shares to or resale of the Option Shares by the Holder. From and after the occurrence of the three above-referenced exercises, each additional exercise of Options hereunder shall be in an amount not less than <span id="xdx_90D_eus-gaap--OptionIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_iI_c20221214__us-gaap--DebtInstrumentAxis__custom--ApolloOptionEachAdditionalMember_zHZLqGvjlRjb">$200,000</span> and exercised only on a cash basis.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white"><span id="xdx_90A_eus-gaap--DebtInstrumentCallFeature_c20220101__20221231__us-gaap--ClassOfWarrantOrRightAxis__custom--ApolloManagementGroupMember_zh3bQrDhV0yj">The Holder’s obligation to exercise each specified portion of this option on the specific dates above is subject to the volume-weighted average price (“VWAP”, market value), being not less than $0.20 per share on the relevant option exercise date. Adjusted option shares at VWAP of $0.20 shall be 48,000,000 shares.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="background-color: white">A summary of activity regarding warrants issued as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zhL7HEQVXHuj" style="font: 11pt Calibri, Helvetica, Sans-Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto" summary="xdx: Disclosure - NOTE 8 - WARRANTS - Schedule of Warrant Summary (Details)"> <tr> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Warrants Outstanding</b></td><td style="padding-bottom: 1pt"><b> </b></td> <td colspan="3"><b> </b></td></tr> <tr style="vertical-align: bottom"> <td><b> </b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Shares</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Weighted Average Exercise Price</b></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><b> </b></td> <td colspan="3" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><b>Weighted Average Remaining Contractual life (in years)</b></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 46%; padding-left: 5.4pt">Outstanding, December 31, 2022</td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20221231_zfu8QcekrSvf">23,112,575</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20221231_z7LaIKot9aOh">0.17</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 5%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 11%; text-align: right"><span id="xdx_908_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20221231_zqJ81Zpyuiq5">0.75</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt">Granted</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20230101__20230930_z50J13La7khf"><span style="-sec-ix-hidden: xdx2ixbrl1116">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20230930_zw0xkBoHtUYd"><span style="-sec-ix-hidden: xdx2ixbrl1117">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_ecustom--WeightedAverageRemainingLifeOfWarrantsGrantedInPeriod_d0_c20230101__20230930_zjQgFYUHYvu5"><span style="-sec-ix-hidden: xdx2ixbrl1118">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt">Increase in number of warrants by VWAP</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease_c20230101__20230930_zsCJspDyutz9">5,262,465</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_ecustom--IncreaseInNumberOfWarrantsWeightedAverageExercisePrice_c20230101__20230930_zEbYJBPTPPY8">0.14</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsIncreasedByVWAPOutstandingWeightedAverageRemainingLife_d0_c20230101__20230930_z4IrAS15mMGi"><span style="-sec-ix-hidden: xdx2ixbrl1121">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt">Exercised</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">(<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20230101__20230930_zBQOCCvjdfQ6">10,294,119</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_c20230101__20230930_zsj5DFdS4TVc">0.14</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20230101__20230930_z3cjQvsseNQj">0.70</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 5.4pt">Expired</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20230101__20230930_zyKV1nhK2x55">18,080,921</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_c20230101__20230930_zMYeRw9bCyD1"><span style="-sec-ix-hidden: xdx2ixbrl1126">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTermsOfForfeited_d0_c20230101__20230930_zoZgCAHWx2xb"><span style="-sec-ix-hidden: xdx2ixbrl1127">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 5.4pt">Outstanding, September 30, 2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iI_c20230930_zwjVieX0oPEi"><span style="-sec-ix-hidden: xdx2ixbrl1128">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20230930_ztGpCap0LWli"><span style="-sec-ix-hidden: xdx2ixbrl1129">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20230930_zi2fiLSKYyF9"><span style="-sec-ix-hidden: xdx2ixbrl1130">—</span></span>  </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
23112575 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
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0.17
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
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IQST Increase In Number Of Warrants Weighted Average Exercise Price
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0.14
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
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0.14
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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us-gaap Debt Securities Held To Maturity Transfer Derivative Hedge Gain Loss
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us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Change In Unrealized Gain Loss
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381848 usd
CY2023Q3 us-gaap Common Stock Shares Authorized
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CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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0.001
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us-gaap Stock Issued During Period Shares New Issues
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us-gaap Stock Issued During Period Value Conversion Of Units
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CY2023Q3 us-gaap Common Stock Shares Issued
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CY2023Q3 us-gaap Loans And Leases Receivable Related Parties
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us-gaap Management Fee Expense
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us-gaap Management Fee Expense
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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79628 usd
CY2022Q4 us-gaap Financial Guarantee Insurance Contracts Risk Management Activities Mitigating Claim Liabilities Accrued Liabilities
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us-gaap Operating Lease Expense
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CY2023Q3 us-gaap Revenues
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CY2023Q3 us-gaap Gross Profit
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CY2023Q3 us-gaap Operating Income Loss
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CY2022Q3 us-gaap Revenues
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us-gaap Revenues
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iqst-20230930_pre.xml Edgar Link unprocessable
iqst-20230930_lab.xml Edgar Link unprocessable
iqst10q093023_htm.xml Edgar Link completed
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
iqst-20230930_cal.xml Edgar Link unprocessable
iqst-20230930_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable