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Private company

TransparentBusiness, Inc.

TransparentBusiness, Inc. is a technology company.1 It is headquartered in New York, New York.1

Last updated Oct 21, 2026.

Overview

  • IndustryServices-Prepackaged Software1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address228 Park Ave South 16065, New York, Ny 100032
  • Filer category, Emerging growth company2
  • Legal formCorporation

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Unicoin Inc. is a technology company that is strategically positioned to capture a significant share of the rapidly growing digital assets and cryptocurrency market by addressing its most pressing challenges:3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

16.3%Gross margin4
-346.6%Operating margin4
-565.2%Net margin4
-3.9%Revenue growth, 20254

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue84¢$2.0M
  • Research and development7¢$174.4K
  • Other costs9¢$218.1K
  • Income tax0¢$1.1K

Out of $2.4M in revenue.4 The company lost money this year.

Financial statements

Revenue56784$2.4M in 2025+34% since 2020
0$10.0M$20.0M$30.0M2020: $1.8M$1.8M20202021: $19.4M$19.4M2021+973%2022: $23.2M$23.2M2022+20%2023: $20.9M$20.9M2023−10%2024: $2.5M$2.5M2024−88%2025: $2.4M$2.4M2025−4%
Gross profit56784$393.6K in 2025−55% since 2020
-$5.0M0$5.0M$10.0M2020: $880.5K$880.5K20202021: -$4.8M-$4.8M20212022: $2.8M$2.8M20222023: $5.3M$5.3M2023+93%2024: $433.4K$433.4K2024−92%2025: $393.6K$393.6K2025−9%
Operating income56784-$8.4M in 2025−24% since 2020
-$60.0M-$40.0M-$20.0M02020: -$11.1M-$11.1M20202021: -$43.3M-$43.3M2021+292%2022: -$33.8M-$33.8M2022−22%2023: -$38.4M-$38.4M2023+14%2024: -$33.9M-$33.9M2024−12%2025: -$8.4M-$8.4M2025−75%
Net income56784-$13.7M in 2025+11% since 2020
-$60.0M-$40.0M-$20.0M02020: -$12.3M-$12.3M20202021: -$43.7M-$43.7M2021+256%2022: -$32.6M-$32.6M2022−25%2023: -$38.8M-$38.8M2023+19%2024: -$35.6M-$35.6M2024−8%2025: -$13.7M-$13.7M2025−62%
Fiscal year2019202020212022202320242025
Revenue$1.8M5$19.4M6$23.2M7$20.9M8$2.5M4$2.4M4
Cost of revenue$923.3K5$24.1M6$20.4M7$15.6M8$2.1M4$2.0M4
Gross profit$880.5K5-$4.8M6$2.8M7$5.3M8$433.4K4$393.6K4
Research and development$228.2K5$470.1K6$458.3K7$1.8K8$12.5K4$174.4K4
Operating expenses$38.6M6$36.5M7$43.7M8$34.3M4$8.8M4
Operating income-$11.1M5-$43.3M6-$33.8M7-$38.4M8-$33.9M4-$8.4M4
Interest$170.7K5$97.5K5$04$04
Income before tax-$43.4M6-$34.0M7-$38.3M8-$36.0M4-$9.0M4
Income tax$79.1K5$293.8K6$163.8K7-$581.2K8$69.4K4$1.1K4
Net income-$12.3M5-$43.7M6-$32.6M7-$38.8M8-$35.6M4-$13.7M4
Earnings per share-$0.047-$0.058-$0.054-$0.024
Earnings per share (diluted)-$0.047-$0.058-$0.054-$0.024
Shares (weighted, basic)733.8M shares7733.4M shares8736.0M shares4741.6M shares4
Shares (weighted, diluted)733.8M shares7733.4M shares8736.0M shares4741.6M shares4

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What it owns

What TransparentBusiness, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$13.1K4 Dec 31, 2025$24.1K4 Dec 31, 2024−45.9%
Operating-lease assets (leased space)$19.2K4 Dec 31, 2024$313.7K8 Dec 31, 2023−93.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.2M4 Dec 31, 2025$893.2K4 Dec 31, 2024+38.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$3.9M8 Dec 31, 2024$3.9M8 Dec 31, 20230%
Intangible assets, net (excluding goodwill)$5.4K4 Dec 31, 2025$85.7K4 Dec 31, 2024−93.7%
Finite-lived intangibles, gross$3.8M8 Dec 31, 2024$3.8M8 Dec 31, 20230%
Accumulated amortization$1.4M8 Dec 31, 2024$1.1M8 Dec 31, 2023+32.4%
Finite-lived intangibles, net$2.3M8 Dec 31, 2024$2.7M8 Dec 31, 2023−13.2%

Properties, in its own words

The Company has facilities in Nevada, New York, New Mexico, and Texas. These facilities have leases that expire on various dates through 2029 and are subject to periodic changes. We believe that our existing facilities are well-maintained and in good operating condition.

Item 2 of the 10-K filed Apr 1, 2026.3

Leadership

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, Director, PromoterAlex Konanykhin named Nov 16, 2022 to Mar 20, 202511
  • Executive OfficerAndrew Winn named Mar 28, 2024 to Mar 20, 202511
  • Executive OfficerDeniece Ky named Mar 20, 202511
  • Executive OfficerGerman Montoya named Mar 20, 202511
  • Executive OfficerRichard Devlin named Mar 20, 202511
  • Executive OfficerAndrew Silvina Winn named Nov 16, 2022 to Dec 23, 202412
  • Executive OfficerDeniece Silvina Ky named Dec 23, 202412
  • Executive OfficerMariano Silvina Dall'Orso named Apr 24, 2024 to Dec 23, 202412
  • Executive OfficerRichard Silvina Devlin named Dec 23, 202412
  • Executive OfficerAlejandro Silvina Dominguez named Apr 24, 2024 to Jun 14, 202413
  • Executive OfficerRichard Gerald Devlin named Apr 24, 2024 to Jun 14, 202413
  • Director, PromoterMaria Moschini named Mar 20, 202511
  • DirectorRobert Newman named Mar 20, 202511
  • Director, PromoterMaria Silvina Moschini named Nov 16, 2022 to Dec 23, 202412
  • DirectorRobert Silvina Newman named Dec 23, 202412
  • DirectorGuillermo Gerald Diaz named Jun 14, 202413
  • DirectorPilar Gerald Manchon named Jun 14, 202413
  • DirectorGuillermo Diaz named Mar 28, 2024 to Apr 24, 202414
  • DirectorPilar Manchon named Mar 28, 2024 to Apr 24, 202414
  • DirectorChristopher Silvina Carter named Nov 16, 2022 to Jan 11, 202315
  • DirectorJason Silvina Felts named Nov 16, 2022 to Jan 11, 202315

Former names

  • Unicoin Inc.Oct 11, 2022 to Apr 1, 20262

Timeline

  1. Sep 14, 20268-K Executive or director change16
  2. Sep 14, 20268-K Other events17
  3. Jul 28, 20268-K Executive or director change18
  4. Jun 18, 20268-K Entered a material agreement19
  5. Jun 11, 20268-K Executive or director change20
  6. Jun 10, 20268-K Entered a material agreement21
  7. May 13, 20268-K Bylaws or fiscal year changed22
  8. Dec 17, 20258-K Shareholder vote23
  9. Oct 30, 20258-K Ended a material agreement; Other events24
  10. Oct 15, 20258-K Executive or director change25
  11. Sep 25, 20258-K Other events26
  12. Sep 23, 20258-K Entered a material agreement27

Calendar

When it reported results

  1. Apr 1, 2025Reported quarterly or annual results28
  2. Nov 13, 2023Reported quarterly or annual results29
  3. Mar 1, 2023Reported quarterly or annual results30

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

100 filings to the SEC since October 2021: 7 annual reports, 14 quarterly reports, 60 major events, 10 private raises, 9 other. The latest 20:

  1. Sep 14, 20268-K EDGAR
  2. Sep 14, 20268-K EDGAR
  3. Aug 5, 202610-Q EDGAR
  4. Jul 28, 20268-K EDGAR
  5. Jun 18, 20268-K EDGAR
  6. Jun 11, 20268-K EDGAR
  7. Jun 10, 20268-K EDGAR
  8. May 15, 202610-Q EDGAR
  9. May 13, 20268-K EDGAR
  10. Apr 1, 202610-K EDGAR
  11. Apr 1, 2026NT 10-K EDGAR
  12. Dec 17, 20258-K EDGAR
  13. Nov 14, 202510-Q EDGAR
  14. Oct 30, 20258-K EDGAR
  15. Oct 15, 20258-K EDGAR
  16. Sep 25, 20258-K EDGAR
  17. Sep 23, 20258-K EDGAR
  18. Sep 15, 20258-K EDGAR
  19. Aug 14, 202510-Q EDGAR
  20. Aug 4, 202510-Q EDGAR

The 100 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 20, 2025Filed a private offering of equity Form D: $10 million offered in all Form D
  2. Dec 11, 2024Raised $20,000 in a private offering of securities Form D: $100 million offered in all Form D
  3. May 3, 2024Raised $862,481 in a private offering of equity Form D: $20 million offered in all Form D
  4. Apr 24, 2024Filed a private offering of securities Form D: $500 million offered in all Form D
  5. Mar 18, 2024Raised $13,333 in a private offering of securities Form D: $5 million offered in all Form D
  6. Nov 30, 2022Raised $250,000 in a private offering of securities Form D: $10 million offered in all Form D
  7. Feb 10, 2022Raised $9.4 million in a private offering of securities Form D: $500 million offered in all Form D

SEC filer profile

How TransparentBusiness, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTransparentBusiness, Inc.1
  • CIK0001740742
  • Employer ID (EIN)47-43600353
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address228 Park Ave South 16065, New York, NY 100031
  • Phone21221600011
  • Shares outstanding742,679,936 as of Aug 4, 202610
  • Public float$0 as of Jun 30, 20254
  • AuditorKreit and Chiu CPA LLP, Los Angeles, California PCAOB ID 6651; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceMay 15, 20181
  • Filings111 in all: 8-K (56), 10-Q (14), D (11), D/A (8), 10-K (5), 8-K/A (4), 10-12G/A (3), NT 10-K (3)1
    All 13 form types

    10-K/A (2), NT 10-Q (2), 10-12G (1), RW (1), RW WD (1)

  • Latest filingsAnnual report (10-K) Apr 1, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Latest 8-K (8-K) Sep 14, 2026

Risk factors and legal proceedings

The risks TransparentBusiness, Inc. names in Item 1A of its 10-K filed Apr 1, 2026: 49 risks under these headings, as written.3

  • Risks Related to Our Business
  • We have a history of losses and may not achieve profitability in the near term or at all.
  • We may fail to compete effectively in the market in which we operate.
  • We have a limited operating history.
  • We need additional capital but may not be able to obtain it on favorable terms or at all.
  • Although our financial statements have been prepared on a going concern basis, we must raise additional capital to fund our operations in order to continue as a going concern.
  • Unicorn Hunters is as-yet-unproven as a media asset or as a method of marketing our products, which may not be successful, and may be a drain on our management and financial resources.
  • Our strategy of acquiring equity stakes in private companies featured on Unicorn Hunters may not enhance shareholder value for an extended period of time, if at all.
  • We have identified material weaknesses in our internal control over financial reporting. If we fail to develop and maintain an effective system of internal control over financial reporting, we may not be able to accurately report our financial results in a timely manner, which may adversely affect investor confidence in Unicoin Inc.
  • We and certain of our current and former directors and officers received Wells Notices from the SEC staff, and the SEC has since commenced a civil enforcement action against us and such individuals, the outcome of which could materially and adversely affect our business, financial condition, results of operations, prospects, and reputation.
  • Unicoins may or may not be deemed a security by regulators.
  • We accept payments for investments in our securities or unicoin rights in the form of cryptocurrencies, including Ether, which could cause the value of those investments to fluctuate.
The other 38 risks
  • We currently generate significant revenue from a limited number of key customers and the loss of any of our key customers may harm our business, results of operations and financial results.
  • There are multiple cryptocurrencies in various stages of development with the name Unicoin or a similar variant of Unicoin. Investors may be confused as to which cryptocurrency or digital asset is the one offered by the Company.
  • The Company’s business is exposed to the potential misuse of digital assets and malicious actors.
  • We will need to implement strict finance and accounting systems, procedures and controls to operate our business.
  • Global or regional health pandemics or epidemics could negatively impact our business, financial position and results of operations.
  • Risk Related to Our Management and Control Persons
  • We depend on key personnel, the loss of any of whom could be detrimental to our business.
  • The concentration of our capital stock ownership with insiders will likely limit your ability to influence corporate matters.
  • Certain provisions of our Bylaws provide our Chairman and Chief Executive Officer with control over the Board and grant them discretion over total director compensation.
  • Risks Related to our Unicoin Offering
  • We may not be able to successfully execute our business strategy if we are deemed to be an investment company under the Investment Company Act of 1940.
  • We have no operating history in blockchain and tokens, and therefore valuation of the Certificates and unicoins is difficult.
  • The application of distributed ledger technology and reliance on third-party blockchains is novel and untested and may contain inherent flaws or limitations.
  • Because we rely on third-party blockchain technologies, users of Unicoin could be subject to blockchain protocol risks.
  • The unicoins project may ultimately fail, for technical, operational, commercial, regulatory or any other reasons.
  • We cannot guarantee that the trading demand for unicoins will be sufficient to sustain a liquid market, or that Company activity will not negatively affect trading demand.
  • Blockchain is a nascent and rapidly changing technology and there remains relatively small use of blockchain networks and blockchain assets in the retail and commercial marketplace. The slowing or stopping of the development or acceptance of blockchain networks may adversely affect an investment in our Company.
  • The application of distributed ledger technology remains relatively novel and untested and may contain inherent flaws or limitations.
  • The open-source structure of blockchain software means that blockchain networks may be susceptible to malicious cyber-attacks or may contain exploitable flaws, which may result in security breaches and the loss or theft of blockchain assets.
  • Each blockchain network, including the Ethereum network, is dependent upon its users and contributors, and actions taken, or not taken, by the users or contributors of a blockchain network could damage its reputation and the reputation of blockchain networks generally.
  • The prices of blockchain assets are extremely volatile. Fluctuations in the price of Bitcoin, Ether and/or other blockchain assets could materially and adversely affect the Company and the value of unicoins.
  • The regulatory regimes governing blockchain technologies, blockchain assets and the purchase and sale of blockchain assets, including tokens such as unicoins, are uncertain, and new regulations or policies may materially adversely affect the development of blockchain networks and the use of blockchain assets.
  • Risks Related to Our Industry
  • We rely upon the internet infrastructure, cloud service providers and telecommunications networks in the markets in which we operate.
  • Any interruptions or delays in services from third parties, including data center hosting facilities, cloud computing platform providers and other hardware and software vendors, or our inability to adequately plan for and manage service interruptions or infrastructure capacity requirements, could impair the delivery of our services and harm our business.
  • We may not have adequate sources of recovery if the digital assets held by us are lost, stolen or destroyed due to third-party digital asset services, which could have a material adverse effect on our business, financial condition and results of operations.
  • The popularity of content is difficult to predict and can change rapidly, and low public acceptance of the Unicorn Hunters show could adversely affect our results of operations.
  • We may be subject to reputational harm, regulatory scrutiny, and financial losses due to the unauthorized use of our brand and the emergence of fraudulent websites and scams impersonating our company.
  • Privacy concerns and laws such as the European Union’s General Data Protection Regulation, evolving regulation of cloud computing, cross-border data transfer restrictions and other domestic or foreign regulations may limit the use and adoption of our services and adversely affect our business.
  • If we fail to anticipate or identify significant Internet-related and other technology trends and developments early enough, or if we do not devote appropriate resources to adapting to such trends and developments, our business could be harmed.
  • Our ability to deliver our services is dependent on the development and maintenance of the infrastructure of the Internet by third parties.
  • Sales to customers outside the United States expose us to risks inherent in international operations.
  • Weakened global economic conditions may adversely affect our industry, business and results of operations.
  • Our operating results have and will significantly fluctuate, including due to the highly volatile nature of crypto.
  • Due to unfamiliarity and some negative publicity associated with crypto asset platforms, confidence or interest in crypto asset companies may decline.
  • We may be subject to risks related to talent classification in our TaaS businesses in various jurisdictions.
  • Other Risk Factors
  • We have historically failed to provide current and timely disclosure as a reporting company under Section 12 under the Exchange Act.
  • We are an “emerging growth company” and a “smaller reporting company,” and the reduced disclosure requirements applicable to emerging growth companies and smaller reporting companies may make our Common Stock less attractive to investors.
  • Obligations associated with being a public company will require significant resources and management attention.
  • Our actual results of operations may not meet our guidance and investor expectations, which would likely cause our share price to decline.
  • We do not expect to declare or pay any dividends on our Common Stock for the foreseeable future.

Legal proceedings

We may from time to time be involved in various claims and legal proceedings of a nature we believe are normal and are incidental to our business. These matters may include product liability, intellectual property, employment, personal injury caused by our employees, and other general claims. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

On December 10, 2024, we received a “Wells Notice” from the staff of the U.S. Securities and Exchange Commission (the “SEC”), indicating that the SEC staff had made a preliminary determination to recommend that the SEC file an enforcement action against us. The proposed action would allege violations of Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 10b-5 thereunder, as well as Sections 5 and 17(a) of the Securities Act of 1933, as amended (the “Securities Act”). The SEC staff further advised that any such enforcement action could involve a civil injunctive proceeding or other action permitted by law and could seek remedies including injunctive relief, disgorgement, pre-judgment interest, civil monetary penalties, and other relief.

The opening of Item 3, Legal Proceedings.3

Sources

The numbers on this page point here. Each one links to the record it came from.

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    SEC EDGAROther events
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    SEC EDGAROther events
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