iQSTEL Inc. (IQST) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

Per the Roarable RQD rating, IQST scores 43 out of 100, earning a letter grade of D- and the verdict "Roarable Sell — Vulnerable Balance Sheet & Flow." The fundamental cash engine pillar scores 9 of 20 (ROIC -23.7%; FCF yield 0%), indicating that the business is not currently generating returns on invested capital or free cash flow relative to its capital base. The whale 13F flow pillar scores 5 of 20 and the insider conviction pillar scores 5 of 20; the source data for these pillars references institutional accumulation, options positioning, and SEC Form 4 and Congressional PTR flow, but the holders section of the source data is empty, so these low scores cannot be traced to specific holder records within this dossier. The macro regime fit pillar scores 10 of 20 (Beta 1.0; sector sensitivity). The forensic balance sheet pillar scores 14 of 20 (Altman Z 4.95; Piotroski F 4/9; Debt/Equity 0.5), which is the strongest of the five pillars and suggests the balance sheet is less fragile than the earnings profile. For a prospective investor, the key tradeoff is that the forensic balance sheet offers some structural comfort while the cash engine, flow, and insider pillars point to weak fundamental support and limited evidence of conviction behind the stock at its current level. Upside drivers would need to come from evidence of improving cash generation, which the rating does not currently show.

Per the market data, gross margin is 3%, operating margin is -1.3%, and net margin is -2.7%, with ROIC at -23.7% and FCF yield at 0%. Per the Roarable RQD rating, the forensic balance sheet pillar reports an Altman Z-Score of 4.95, a Piotroski F-Score of 4 out of 9, and a Debt/Equity ratio of 0.5. Reported net income and free cash flow were negative in each period shown. Reported debt is $0.0M for FY 2025, while FY 2024 and FY 2023 debt values are not available in source data for every period.

• Market wire items (YELLOW): Yahoo Finance Singapore and TradingView coverage of IQST market action, institutional positioning, and fundamental catalysts; the summaries are generic and contain no specific figures.
• Short-video service: Stock Titan reports a target of about 400,000 subscribers a month next year for the short-video service.
• Risk Watch (RED): A Yahoo Finance item covering executives discussing a path to $1 Billion Revenue, the Ultranet acquisition, and high-margin digital services expansion is flagged RED under the Risk Watch impact label.
• Microdrama commercialization (YELLOW): PR Newswire reports outreach to seven mobile operators serving approximately 93 million subscribers.
• Ultranet financing (YELLOW): Yahoo Finance reports the closing of a two-year non-convertible financing for Ultranet, described as a profitable $131 million-revenue West African telecom platform expected to make IQSTEL cash-flow positive on a consolidated basis.
• Butterfly graph: The sector is Communication Services and the industry is Telecommunications Equipment. The supply-chain field is NONE, the butterfly links list is empty, and the proprietary signals list is empty.

• What are the consolidated and standalone cash flows of Ultranet, and how does its profitability reconcile with the parent's reported negative net income and free cash flow?
• What is the company's debt structure in FY 2024 and FY 2023, given that these values are unavailable in source data?
• What are the specific holders and insider transactions underlying the 13F and Form 4 pillar scores, given that the holders section is empty?
• What are the terms of the Ultranet non-convertible financing, including its interest cost and repayment schedule?
• What is the basis for the P/E, EV/EBITDA, and EPS figures, which the source data does not provide?