$IQST

B-MAVEN, INC.

CIK:0001527702|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 109,068,246	$ 72,183,236	$ 206,988,082	$ 129,816,052
Cost of revenue	106,321,441	70,311,749	202,160,579	126,009,607
Gross profit	2,746,805	1,871,487	4,827,503	3,806,445
Operating expenses
General and administration	3,867,624	2,527,716	6,906,331	5,066,900
Total operating expenses	3,867,624	2,527,716	6,906,331	5,066,900
Operating loss	(1,120,819)	(656,229)	(2,078,828)	(1,260,455)
Other income (expense)
Other income	17,059	22,286	42,408	45,514
Other expenses		(68,584)	(86,775)	(79,746)
Interest expense	(313,626)	(459,118)	(664,624)	(990,844)
Loss on settlement of debt	(926,126)	(878,592)	(926,126)	(878,592)
Loss on settlement of salary payable		(216,981)		(216,981)
Total other expense	(1,222,693)	(1,600,989)	(1,635,117)	(2,120,649)
Net loss before provision for income taxes	(2,343,512)	(2,257,218)	(3,713,945)	(3,381,104)
Income taxes	(62,109)	(91,696)	(77,612)	(112,271)
Net loss	(2,405,621)	(2,348,914)	(3,791,557)	(3,493,375)
Less: Net income attributable to noncontrolling interests	218,237	58,064	189,894	71,561
Net loss attributed to IQSTEL Inc.	(2,623,858)	(2,406,978)	(3,981,451)	(3,564,936)
Dividend on Series D Preferred Stock	(36,720)		(36,720)
Undeclared dividend on Series D Preferred Stock			(16,567)
Net loss attributed to stockholders of IQSTEL Inc.	(2,660,578)	(2,406,978)	(4,034,738)	(3,564,936)
Comprehensive loss
Less: Comprehensive income attributable to noncontrolling interests	218,237	58,064	189,894	71,561
Net comprehensive loss attributed to IQSTEL Inc.	$ (2,623,858)	$ (2,406,978)	$ (3,981,451)	$ (3,564,936)
Basic and diluted loss per common share	$ (0.38)	$ (0.82)	$ (0.68)	$ (1.28)
Weighted average number of common shares outstanding - Basic and diluted	6,936,634	2,952,905	5,913,074	2,792,279

Consoolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,791,557)	$ (3,493,375)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	542,886	55,198
Bad debt expense	14,364	4,442
Depreciation and amortization	326,736	288,224
Amortization of debt discount	162,026	343,834
Loss on settlement of debt	926,126	878,592
Loss on settlement of salary payable		216,981
Changes in operating assets and liabilities:
Accounts receivable	3,564,196	33,486,603
Prepaid and other assets	434,048	(4,552,575)
Accounts payable	1,241,794	1,585,727
Accrued and other current liabilities	(4,737,013)	(30,462,934)
Contract liability	(350,780)
Net cash used in operating activities	(1,667,174)	(1,649,283)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(3,083)	(95,189)
Payment of loan receivable - related party	(26,201)	(29,462)
Collection of amounts due from related parties	6,700	839
Net cash used in investing activities	(22,584)	(173,812)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from loans payable	1,800,000	3,215,000
Repayments of loans payable	(15,934)	(15,776)
Repayments of note payable issued for acquisition of subsidiary		(1,244,786)
Repayment of loans payable - related parties	(60,848)	(389,514)
Proceeds from common stock issued	168,860
Proceeds from convertible notes		987,500
Repayment of convertible notes		(1,064,269)
Dividend paid to non-controlling interest	(265,797)	(137,129)
Net cash provided by financing activities	1,626,281	1,351,026
Net change in cash	(63,477)	(472,069)
Cash, beginning of period	2,155,359	2,510,357
Cash, end of period	2,091,882	2,038,288
Supplemental cash flow information
Cash paid for interest	473,406	386,539
Cash paid for taxes	93,528	109,870
Non-cash transactions:
Series B Preferred stock issued for settlement of salary payable		848,481
Series D Preferred stock issued as dividend	36,720
Series D Preferred stock issued for settlement of debt	4,426,537	1,886,658
Common stock issued for conversion of debt		3,227,903
Common stock issued for common stock payable		4
Common stock issued for conversion of Series D preferred stock	3,983
Note payable issued for acquisition of subsidiary		1,000,000
Common stock issued for commitment fee	500,000
Common stock payable for commitment fee	$ 500,000

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash	$ 2,091,882	$ 2,155,359
Accounts receivable, net	27,693,581	30,259,020
Inventory	30,658	30,658
Due from related parties	509,020	639,519
Prepaid and other current assets	3,199,897	3,077,868
Total Current Assets	33,525,038	36,162,424
Property and equipment, net	500,021	615,048
Intangible assets, net	6,716,779	6,957,404
Goodwill	5,790,049	5,790,049
Deferred tax assets	459,472	459,472
Other assets	1,200,537	1,103,538
TOTAL ASSETS	48,191,896	51,087,935
Current Liabilities
Accounts payable	12,130,024	9,167,288
Accrued and other current liabilities	13,705,659	19,050,496
Contract liabilities	1,040,597	1,391,377
Due to related parties	65,829	65,829
Loans payable - net of discount of $80,934 and $127,170, respectively	2,524,408	4,020,833
Loans payable - related parties	64,561	125,409
Contingent liability for acquisition of subsidiary	285,175	285,175
Stock payable	1,000,000	500,000
Total Current Liabilities	30,816,253	34,606,407
Loans payable, non-current	26,488	31,302
Employee benefits, non-current	169,599	169,599
TOTAL LIABILITIES	31,012,340	34,807,308
Stockholders' Equity
Common stock: 26,000,000 authorized; $0.001 par value 10,052,672 and 4,668,017 shares issued and outstanding, respectively	10,052	4,668
Additional paid in capital	59,778,311	54,455,615
Accumulated deficit	(47,010,050)	(42,991,879)
Accumulated other comprehensive loss	(25,340)	(25,340)
Equity attributed to stockholders of IQSTEL Inc.	12,753,059	11,443,151
Equity attributable to noncontrolling interests	4,426,497	4,837,476
TOTAL STOCKHOLDERS' EQUITY	17,179,556	16,280,627
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	48,191,896	51,087,935
Preferred Class A [Member]
Stockholders' Equity
Preferred stock: 1,200,000 authorized; $0.001 par value	10	10
Preferred Class B [Member]
Stockholders' Equity
Preferred stock: 1,200,000 authorized; $0.001 par value	59	59
Preferred Class C [Member]
Stockholders' Equity
Preferred stock: 1,200,000 authorized; $0.001 par value
Preferred Class D [Member]
Stockholders' Equity
Preferred stock: 1,200,000 authorized; $0.001 par value	$ 17	$ 18