---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-001980"
form_type: "8-K"
ticker: null
cik: "0001740742"
company_name: "TransparentBusiness, Inc."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:38:00.315198+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Unicoin (fka TransparentBusiness) acquires ITSQuest; audited statements show $4.5M tax liability and net loss

## Summary
- Acquired ITSQuest, a professional staffing agency with 12 locations, on Nov 19, 2020 for undisclosed consideration.
- ITSQuest audited: revenue $11.5M (Jan-Nov 2020) and $14.8M (FY2019); net loss attributable to common of $306K for the period.
- Long-term tax liability of $4.47M to New Mexico Taxation & Revenue Dept for 2011-2018 assessments; no payment plan finalized.
- Total stockholders' deficit was $3.22M as of Nov 26, 2020, with liabilities of $4.62M exceeding assets of $1.40M.
- ITSQuest became a 51%-owned subsidiary of Unicoin after the share exchange.

## SEC filing metadata
- accession: 0001829126-23-001980
- form_type: 8-K
- cik: 0001740742
- company_name: TransparentBusiness, Inc.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.01, 9.01, 9.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1740742/000182912623001980/0001829126-23-001980-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1740742/000182912623001980/unicoininc_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-001980
- JSON: https://secwatch.observer/filing/0001829126-23-001980.json
- Plain text: https://secwatch.observer/filing/0001829126-23-001980.txt

## Key facts
- M&A Transactions
  TransparentBusiness, Inc. completed an acquisition involving ITSQuest, Inc. (closed 2020-11-19).
  - Action: acquisition
  - Counterparty: ITSQuest, Inc.
  - Closing: 2020-11-19
  source text: On November 19, 2020, Unicoin Inc. (formerly known as TransparentBusiness, Inc.) (the “Company”) acquired ITSQuest, Inc. (“ITSQuest).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740742/000182912623001980/0001829126-23-001980-index.htm

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