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NEW YORK - Quest Oil Corporation (OTC: QOIL), traditionally an oil company, has announced its acquisition of Skycom Mobile Inc., marking a significant shift in business strategy towards the mobile telecommunications sector. According to InvestingPro data, Quest Oil’s stock has shown significant price volatility, with its market capitalization currently standing at just $0.01 million. Skycom Mobile, a South Dakota-based company, is known for its innovative mobile software, including the exclusive iPass Switchboard technology that optimizes wireless data and voice connectivity.
The iPass Switchboard technology, developed by the US-European company iPass, allows users to switch seamlessly between 4G/5G, Satellite, and free Wi-Fi signals, focusing on quality and cost. This technology is expected to provide superior connectivity and cost savings for users. Skycom plans to introduce its eSIM services to both enterprises and consumers in the fourth quarter of 2025.
As part of the transition, Quest Oil will undergo a rebranding to Skycom, Inc. and is preparing to raise $5 million in an initial funding round to support the development of its platform and brand. A subsequent funding round is anticipated to finance the launch of business operations and marketing efforts. InvestingPro analysis reveals a weak financial health score of 1.47, suggesting the importance of these funding rounds for the company’s future stability.
With the acquisition, Markwin Maring, the founder and owner of Skycom Mobile, will take on the role of Chairman of the Board of Directors and will continue to oversee daily operations. Maring expressed enthusiasm about the acquisition, highlighting the potential for Skycom Mobile to expand its innovative services as a publicly traded entity. The company’s mission is to provide better and more affordable mobile connectivity, eliminate high roaming charges, and offer flexibility to users across the United States.
This strategic move by Quest Oil signals a notable departure from its core oil business into a technology-driven industry. The information for this article is based on a press release statement. For deeper insights into Quest Oil’s transformation and comprehensive financial analysis, including additional ProTips and detailed metrics, explore InvestingPro’s advanced company analysis tools.
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