---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-045375"
form_type: "8-K"
ticker: null
cik: "0000768216"
company_name: "Coyni, Inc."
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T08:42:33.908051+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Logicquest restates Q1 2023 10-Q; board concludes non-reliance due to accounting errors

## Summary
- Board determined Q1 2023 Form 10-Q should no longer be relied upon due to three errors.
- Operating expenses understated by $28,558; stock-based comp overstated by $27,952.
- Failed to properly classify and present a $39,423 related party balance.
- Form 10-Q was filed without auditor MaloneBailey's knowledge; no review performed.
- Company is preparing an amended Form 10-Q to be filed as soon as practicable.

## SEC filing metadata
- accession: 0001213900-23-045375
- form_type: 8-K
- cik: 0000768216
- company_name: Coyni, Inc.
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/768216/000121390023045375/0001213900-23-045375-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/768216/000121390023045375/ea179577-8k_logicquest.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-045375
- JSON: https://secwatch.observer/filing/0001213900-23-045375.json
- Plain text: https://secwatch.observer/filing/0001213900-23-045375.txt

## Key facts
- Auditor Changes
  Coyni, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: MaloneBailey, LLP
  source text: On May 24, 2023, the Board of Directors and the management of the Company concluded that the Form 10-Q should no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/768216/000121390023045375/0001213900-23-045375-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.