NEW YORK, NY, April 14, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- iQSTEL Inc. (IQST) announces the execution of a 51% acquisition agreement for an Austin-based US-Mexico SMS service provider.
They acquired a majority stake in a $29m company. That is a material event. Being a subsidiary of the purchasing company or not has no bearing.
"An 8-K is sometimes called a "current report" as it provides a snapshot of a material event and must be filed with the SEC within four business days of the event. (Compare that to a 10-K, which often is released months after the end of the fiscal year.)"
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