Telco Cuba Inc (OTCMKTS:QBAN) is a sudden explosion among the sub-penny ranks that looks like it might be destined to die out like a shooting star just as fast. Time will tell. In any case, it may yet be interesting to track. QBAN just announced that it was notified by MicroTech that the General Services Administration (GSA) announced MicroTech had been awarded a spot on the $50 Billion 15-year Enterprise Infrastructure Solutions (EIS) Multi-Agency Contract (MAC).
“Telco Cuba congratulates MicroTech on a job well done. As an initial RFP team member, the potential upside for Telco Cuba is tremendous. With the teaming agreement having run its course, we await further advisement from MicroTech on what the next steps are to continue our relationship with them.” – William Sanchez, CEO. In addition, as noted below, the company is set for an upcoming makeover.
Telco Cuba Inc (OTCMKTS:QBAN) frames itself as a technology services provider.
Under the subsidiary, Amgentech, it provides software development, colocation, hosting and infrastructure services. Under the brand Telco Cuba, it provides mobile cell phone services in the United States under the brand of Telco Cuba, directed to the Cuban American demographic. It offers low cost rates, and digital home phone services as well. Telco Cuba, Inc. is based in Hollywood, Florida.
According to its recent release, QBAN will start the process of changing its name to “Amgentech Holdings, Inc.” This process will take some time as FINRA needs to approve the change. The name change is necessary to better handle the finances of the company under current OFAC regulations.
“Our stock symbol will remain “QBAN”. The company is foremost a telecommunications company. The company will continue its foray into providing low cost telecommunication services to Hispanics in the South Florida market as well as continuing its efforts to finalize agreements in the country of Cuba. The country of Cuba remains a priority for the company, and we are poised and ready to take advantage of the opportunity when it becomes available.“
QBAN or Telco Cuba will become a subsidiary of Amgentech Holdings, Inc. and all business related to our “Telco Cuba” branded cell phone service and anything else to do with “Cuba” will fall under the umbrella of the Telco Cuba, Inc. (Florida Corporation) subsidiary.
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As noted above, QBAN shares have been on fire in recent days as the company announces that its teaming agreement partner has been awarded a spot on the $50 Billion 15-year Enterprise Infrastructure Solutions (EIS) Multi-Agency Contract (MAC).
Telco Cuba signed a teaming agreement with MicroTech during the month of November, 2015. The agreement stipulated the role of QBAN as a sub-contractor of MicroTech during the request for proposals process.
“Telco Cuba remains steadfast in its momentum to a corporate structure that will bring value to the shareholder. The opportunity MicroTech afforded the company is but one of the initiatives I am currently working on towards that end.” – William Sanchez, CEO
Recent action has seen more than 210% added to share values of the name over the past month of action, but this action is running counter to the larger trend in the name. However, QBAN has evidenced sudden upward volatility on many prior occasions. Furthermore, the listing has benefitted from a jump in recent trading volume to the tune of just shy of 1400% over what the stock has registered over the longer term.
Earning a current market cap value of $362.99k, QBAN has virtually no cash on the books, which compares with about $2.6M in total current liabilities. QBAN is pulling in trailing 12-month revenues of $39K. However, the company is seeing recent declines on the top line on a sequential quarterly basis, with revenues falling as of its latest reporting period. This is an exciting story, and we look forward to a follow-up chapter as events transpire. For continuing coverage on shares of $QBAN stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $QBAN, either long or short, and we have not been compensated for this article.