Announcement • Apr 02
Cuentas Inc. announced delayed annual 10-K filing On 04/01/2026, Cuentas Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Mar 30
World Mobile Media Group Launches Next-Generation Decentralized Media Platform Cuentas Inc. announced that its 51%-owned subsidiary, World Mobile Media Group (WMMG), is launching a next-generation decentralized media platform designed to transform how content is created, distributed, and monetized. WMMG introduces a mobile-first, decentralized entertainment ecosystem that combines premium content, global distribution, and direct-to-consumer monetization. The platform will feature a curated mix of licensed and original programming, live streaming events, music performances, and creator-driven content—delivered through a highly interactive, community-powered experience. Unlike traditional streaming platforms, WMMG is built to empower creators with ownership, transparency, and direct participation in revenue streams, while enabling audiences to engage more deeply with the content and talent they value. At the core of WMMG is a decentralized infrastructure that removes traditional barriers between creators and audiences. The platform enables: Direct-to-fan monetization, including pay-per-minute, pay-per-event, subscription, and ad-supported models; Enhanced creator economics, allowing talent to retain greater control and participate in long-term value creation; Global distribution without intermediaries, leveraging emerging digital technologies to reach audiences at scale; Community-driven engagement, where fans play an active role in content discovery and participation. A key differentiator of WMMG is its integration with Cuentas’ mobile-first infrastructure. Through its affiliated telecommunications network, Cuentas delivers a seamless ecosystem that unifies: Connectivity (voice, data, and secure mobile services); Premium content and live entertainment; Digital lifestyle and financial services. This vertically integrated approach enables WMMG to deliver high-quality streaming and interactive experiences directly to mobile users, particularly in high-growth global markets, while unlocking new monetization opportunities across both content and connectivity. To accelerate growth,WMMG has entered into a strategic partnership with NUE Agency. The partnership will focus on talent partnerships, content acquisition, brand integrations, and global marketing. Additional details regarding platform rollout, content partnerships, and market expansion will be announced in the coming months. Announcement • Aug 16
Cuentas Inc. announced delayed 10-Q filing On 08/15/2024, Cuentas Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jun 05
Cuentas, Inc. And World Mobile Group, Ltd. Unveil Global Roaming And Financial Services In The United States Cuentas Inc. announced the signing of a Letter of Intent (LOI) with World Mobile Group Ltd. (World Mobile Token WMT-USD) (“World Mobile”) to launch global roaming services and financial solutions in over 30,000 retail locations nationwide. Leveraging World Mobile’s innovative sharing economy platform (airnode.worldmobile.io), the partnership will develop localized networks tailored to specific customer needs, seamlessly integrating roaming services with mobile solutions utilizing both eSIM and traditional SIM technologies. The initiative targets an initial market of 30,000 retail outlets (“Bodegas”) across the United States, currently served by CUEN's mobile and fintech offerings. Cuentas continues to expand its market presence with its robust mobile service, Cuentas Mobile, supported by a powerful distribution ecosystem and a meticulously developed software platform. Utilizing advanced eSIM and traditional SIM technology, this system ensures reliability and will soon include a secure communications suite from Sekur Private Data Ltd. in a comprehensive service bundle. Announcement • May 22
An undisclosed buyer acquired 19.99% stake in Cuentas SDI, LLC from Cuentas Inc. (OTCPK:CUEN) for $0.22 million. An undisclosed buyer acquired 19.99% stake in Cuentas SDI, LLC from Cuentas Inc. (OTCPK:CUEN) for $0.22 million on May 20, 2024. An undisclosed buyer completed the acquisition of 19.99% stake in Cuentas SDI, LLC from Cuentas Inc. (OTCPK:CUEN) for $0.22 million on May 20, 2024. Announcement • May 17
Cuentas Inc. announced delayed 10-Q filing On 05/15/2024, Cuentas Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 02
Cuentas Inc. announced delayed annual 10-K filing On 04/01/2024, Cuentas Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Dec 22
Cuentas Inc.(OTCPK:CUEN) dropped from S&P TMI Index Cuentas Inc.(OTCPK:CUEN) dropped from S&P TMI Index Announcement • Dec 21
Cuentas Inc.(OTCPK:CUEN) dropped from NASDAQ Composite Index Cuentas Inc. has been dropped from NASDAQ Composite Index . Announcement • Dec 20
Cuentas Receives Written Notice from the Nasdaq Stock Market Cuentas Inc. announced that on December 18, 2023, the Company received written notice from The Nasdaq Stock Market LLC notifying the Company that trading of its common stock and warrants will be suspended as of the opening of business on December 20, 2023. The Panel was concerned that the Company is unable to regain and/or maintain compliance with the Equity Rule, or any of the alternatives, under Listing Rule 5550(b). Accordingly, the Nasdaq Hearings Panel has determined to delist the Company’s shares and warrants from Nasdaq. Nasdaq will complete the delisting by filing a Form 25 Notification of Delisting with the U.S. Securities and Exchange Commission, following the expiration of relevant appeal periods. The Delisting Letter provides that the Company may request that the Nasdaq Listing and Hearing Review Council review the delisting decision within 15 days from the date of the Delisting Letter. The Company currently intends to timely submit an appeal. Notwithstanding, the appeal will not stay the decision of the Panel. Accordingly, the Company anticipates that trading in its securities will begin on the Pink Current Information tier of the over-the-counter market operated by OTC Markets Group effective with the open of business on December 20, 2023, under its trading symbol: CUEN. The Company intends to apply to have the common stock quoted on the OTCQB or OTCQX as applicable, a higher market tier operated by the OTC Markets Group Inc. The Company may also apply to have the warrants quoted on the OTCQB, if eligible. The Company will continue to make all required filings with the SEC and remains subject to all SEC rules and regulations applicable to reporting companies under the Securities Exchange Act of 1934, as amended. Announcement • Dec 07
Cuentas Inc., Annual General Meeting, Dec 20, 2023 Cuentas Inc., Annual General Meeting, Dec 20, 2023, at 10:00 US Eastern Standard Time. Location: 235 Lincoln Rd., Suite 210, Miami Beach Florida United States Agenda: To elect Arik Maimon, Michael De Prado, Adiv Baruch, Lexi Terrero and Haim Yeffet as directors (the “Director Nominees”) to serve on the Company’s Board of Directors (the “Board”) for a one-year term that expires at the 2024 Annual Meeting of Shareholders, or until their successors are elected and qualified; to consider the approval, pursuant to Nasdaq listing rules, of the issuance of up to 1,232,606 shares of company's common stock upon the exercise of our common stock purchase warrant (the “Inducement Warrant”) issued to an institutional investor in connection with the Warrant Exercise and Inducement Letter dated August 21, 2023 and the issuance of up to 43,141shares of common stock upon the exercise of the placement agent warrants issued to the designees of H.C. Wainwright & Co. (the “Inducement Warrant Exercise Proposal”); and to consider other matters. Announcement • Nov 17
Cuentas Inc. announced delayed 10-Q filing On 11/15/2023, Cuentas Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Nov 10
Cuentas Announces Final Stage of Fintech and Mobile Product Development Targeting $18 Billion North American Market Cuentas Inc. provided an update on its 'Cuentas 360' mobile app and its Mobile Fintech 'Cuentas App' with first-to-market features, including Gamification and a Tokenized Rewards program, and discloses a premium price per share of $10 for the majority acquisition of World Health Energy Holdings Inc. Cuentas provides an update on its integration of digital and mobile protection software, branded as 'Cuentas 360.' Management expects to launch its application in a selected end-user test group in the next ninety days. The application will offer advanced features compared to other benchmarked products, including an advanced layer of security, scanning, and protection. 'Cuentas 360' is a core component of the software included in the previously announced majority acquisition of WHEN Group. WHEN Group will become a majority-owned subsidiary of Cuentas through a proposed share exchange transaction. The proposed premium price per share has been valued at $10 per CUEN share. Cuentas' Board of Directors has approved the transaction, and the companies expect to complete it by the year-end of 2023. The closing is contingent on several factors, including, without limitation, the approval of Nasdaq and the shareholders of Cuentas. Simultaneously, Cuentas is launching an updated version of its fintech 'Cuentas' mobile application. It will include all its advanced financial services modules plus a new set of first-to-market features. These features encompass a full library of gaming apps and a highly advanced tokenized rewards program. The tokens will be available for sharing from a 'Cuentas' mobile app user to another 'Cuentas' mobile apps user and to any device-independent user, creating a true borderless ecosystem never before launched in North America. This solution is supplied by an exclusive commercial and technology partnership established by Cuentas. These products and advanced functionality, including the games library and tokenized rewards, reaffirm Cuentas's core belief in its fintech and telecommunications core. The market for the 'Cuentas' financial services application includes any mobile user, 'big box' retailers' customers, and the opportunity to 'white label' the software for other mobile operators or digital media companies. The mobile games market in the United States is projected to reach a revenue of $18 billion with a user penetration rate of 46.7% in 2023, according to Statista. Announcement • Oct 23
Danny Yatom, Giora Rosenzweig, and George Baumoehl to Join Cuentas' Board of Directors and/or Executive Management World Health Energy Holdings Inc. (‘WHEN Group’) announced that the majority shareholder of WHEN Group executed a binding letter of intent with Cuentas Inc. (‘Cuentas’). The proposed share exchange transaction, pending Nasdaq and shareholder approval and other specified conditions, will result in WHEN Group becoming a majority owned subsidiary of Cuentas. Following approval and closing of the transactions, Cuentas intends to integrate WHEN Group’s portfolio of cybersecurity solutions into the Cuentas Mobile Platform and will offer WHEN Group’s advanced solutions to Cuentas’ FinTech partners. In consideration for the principal shareholder of WHEN Group, UCG Inc. (‘UCG’), exchanging its 75% stake, Cuentas will issue to UCG such number of common shares of CUEN which will represent on the date of issuance 50% of Cuentas’ issued and outstanding capital (on a fully diluted basis). Subject to the terms of the letter of intent, WHEN Group management, including Major Gen. (Ret) Danny Yatom, Giora Rosenzweig, and George Baumoehl, a WHEN Group director and part owner of UCG, will be joining the Cuentas Board of Directors and/or Executive Management. Announcement • Oct 20
Cuentas Inc. Announces Appointment of Mr. Adiv Baruch as the Strategic Business Officer Cuentas Inc. announced appointment of Mr. Adiv Baruch as the Strategic Business Officer. Mr. Baruch has dedicated over five years to the company, having served as a Board Member and held multiple committee positions. During his tenure as an independent director, he actively facilitated Mr. Zakai’s involvement. His wealth of experience, entrepreneurial skills, and strong foundation in technology will undoubtedly contribute to the current growth and future expansion of Cuentas. Announcement • Oct 05
Cuentas Receives a Staff Determination Letter from Nasdaq Regulation On October 3 2023, Cuentas Inc. received a Staff Determination Letter from Nasdaq Regulation stating that due to the Company’s failure by October 2, 2023, to submit a plan to regain compliance with Nasdaq Listing Rule 5550(b)(1), the $2.5 million stockholders’ equity requirement, the Company would be subject to delisting unless it timely requests a hearing before a Nasdaq Hearings Panel. Accordingly, the Company intends to timely request a hearing before the Panel. The hearing request will stay any suspension or delisting action through the hearing and the expiration of any additional extension granted by the Panel following the hearing. In that regard, pursuant to the Nasdaq Listing Rules, the Panel has the discretion to grant the Company an extension not to exceed April 1, 2024. Notwithstanding, there can be no assurance that the Panel will grant the Company an extension or that the Company will ultimately regain compliance with all applicable requirements for continued listing on The Nasdaq Capital Market. Announcement • Aug 19
Cuentas Receives Deficiency Letter from Nasdaq Regarding Non-Compliance with Minimum Stockholders’ Equity Requirement for Continued Listing on The Nasdaq Capital Market On August 18, 2023, Cuentas Inc. received a deficiency letter from Nasdaq Regulation stating that based upon its Quarterly Report on Form 10-Q for the period ended June 30, 2023 which reported shareholders’ equity of $1,471,000, the Company was not in compliance with Nasdaq Marketplace Rule 5550(b)(1) which requires the Company to maintain shareholders’ equity of not less than $2,500,000 for continued listing on The Nasdaq Capital Market. Under Nasdaq Rules the Company has until October 2, 2023 (45 calendar days) to submit a plan to regain compliance. If its plan is accepted, Nasdaq can grant an extension of up to 180 calendar days from the date of the deficiency letter to evidence compliance. In determining whether to accept the Company’s plan, Nasdaq will consider such things as the likelihood that the plan will result in compliance with Nasdaq’s continued listing criteria, the Company’s past compliance history, the reasons for the Company’s current non-compliance, other corporate events that may occur within the review period, the Company’s overall financial condition and its public disclosures. After Nasdaq reviews the plan, it will contact the Company if it has any questions or comments and will provide the Company written notice of its decision. If Nasdaq does not accept the Company’s plan, the Company will have the opportunity to appeal that decision to a Hearings Panel. Reported Earnings • Aug 03
First quarter 2023 earnings released: US$1.00 loss per share (vs US$3.15 loss in 1Q 2022) First quarter 2023 results: US$1.00 loss per share (improved from US$3.15 loss in 1Q 2022). Revenue: US$64.0k (down 84% from 1Q 2022). Net loss: US$1.70m (loss narrowed 53% from 1Q 2022). Reported Earnings • May 17
First quarter 2023 earnings released: US$1.00 loss per share (vs US$3.15 loss in 1Q 2022) First quarter 2023 results: US$1.00 loss per share (improved from US$3.15 loss in 1Q 2022). Revenue: US$64.0k (down 84% from 1Q 2022). Net loss: US$1.70m (loss narrowed 53% from 1Q 2022). Announcement • Jan 13
Cuentas Appoints Lexi Terrero as Independent Director to its Board Cuentas Inc. announced the appointment of Lexi Terrero as a new independent director to its Board. Ms. Terrero is a Managing Partner of The Flo Lab. Her responsibilities include leading all marketing and communications activities including campaign strategy and creative development, brand strategy, Media & Public Relations, brand partnerships, content strategy and Influencer Campaigns on behalf of the agency's clients and high-profile celebrity talent. Previously, Lexi was Chief Financial Officer & Member of the Board of Directors of Hispanicize Media Group, LLC. Her earlier experience was in private equity, finance, taxation and investor relations areas. Lexi has a Bachelor of Science in Finance and a Master of Business Administration in Interdisciplinary Business, both degrees from St. John's University in New York City. Board Change • Jan 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Sara Sooy was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 02
Cuentas Inc. Announces Board Changes On December 26, 2022, Sandra Orihuela tendered her resignation as a member of the board of directors (the “Board”) of Cuentas Inc. (the “Company”) which would also include her not being a Director effective after the Company’s 2022 Annual Meeting (the “2022 Annual Meeting”). Ms. Orihuela’s resignation was not in connection with any disagreements with the Company. On December 30, 2022, the Board appointed Ms. Lexi Terrero as director to the Board. Ms. Terrero qualifies as “independent” under Nasdaq Stock Market rules. Announcement • Dec 26
Cuentas Receives Non-Compliance Notice from Nasdaq Cuentas Inc. on June 27, 2022 (the “Prior 8-K”) with the Securities and Exchange Commission (the “SEC”) disclosing that the Company had received a letter from the staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with certain of the continued listing rules of Nasdaq. Specifically, the Staff notified the Company that the bid price of the Company’s common stock had closed at less than $1 per share over the previous 30 consecutive business days, and, as a result, the Company did not comply with Listing Rule 5550(a)(2) (the “Bid Price Rule”). On December 20, 2022, having not regained compliance with the Bid Price Rule, the Company received a letter from the Staff notifying the Company that, unless the Company timely requests a hearing, the Company’s common stock and listed warrants would be subject to delisting. Accordingly, the Company intends to timely request a hearing before a Nasdaq Hearings Panel (the “Panel”). The hearing request will result in a stay of any suspension or delisting action pending the hearing and the expiration of any extension period granted by the Panel following the hearing. In that regard, the Panel has the right to grant the Company an extension to regain compliance with the Bid Price Rule. However, there can be no assurance that the Panel will grant the Company an extension to comply with the Bid Price Rule or, even if an extension is granted, that the Company will be able to regain compliance with all applicable requirements for continued listing. If the trading of the Company’s securities is suspended, the Company’s securities will cease to be quoted on Nasdaq. It is expected that the Company’s securities would be immediately eligible for trading and quotation on the over the counter market. Announcement • Dec 07
Cuentas Inc., Annual General Meeting, Dec 28, 2022 Cuentas Inc., Annual General Meeting, Dec 28, 2022, at 10:00 US Eastern Standard Time. Location: 235 Lincoln Rd., Suite 210, Miami Beach Miami Beach Florida United States Agenda: To elect Arik Maimon, Michael De Prado, Adiv Baruch, Yochanon Bruck, Sandra Orihuela, and Sara Sooy as directors (the Director Nominees) to serve on the Companys Board of Directors (the Board) for a one-year term that expires at the 2023 Annual Meeting of Stockholders, or until their successors are elected and qualified; to ratify the appointment by the Board of Halperin Ilanit, Certified Public Accountants as the Companys independent registered public accounting firm for the fiscal year ending December31, 2022; and to discuss other matters. Announcement • Nov 16
Cuentas Inc. Announces Resignation of Carol Pepper as Members of the Board of Directors On November 9, 2022, Carol Pepper tendered her resignations as members of the board of directors of Cuentas Inc. Reported Earnings • Nov 16
Third quarter 2022 earnings released: US$0.14 loss per share (vs US$0.16 loss in 3Q 2021) Third quarter 2022 results: US$0.14 loss per share (improved from US$0.16 loss in 3Q 2021). Revenue: US$1.14m (up US$1.03m from 3Q 2021). Net loss: US$2.28m (loss narrowed 5.4% from 3Q 2021). Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sara Sooy was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 10
Cuentas Inc. Announces Resignation of Jeffrey Lewis as Member of the Board of Directors On November 2, 2022, Jeffrey Lewis tendered his resignations as members of the board of directors of Cuentas Inc. (the “Company”). Mr. Lewis resigned to focus on other endeavors and not in connection with any disagreements with the Company. Announcement • Oct 07
Anthony H. Meadows Resigns as Chief Operating Officer of Cuentas On September 30, 2022, Anthony H. Meadows resigned as chief operating officer of Cuentas Inc. (Company). The Company is negotiating a settlement agreement with Mr. Meadows and may enter into a consulting agreement with Mr. Meadows to complete certain projects that Mr. Meadows was working on prior to his resignation. Announcement • Sep 21
Cuentas Inc. Appoints Jay Adams, as CEO of Cuentas Mobile Cuentas Inc. announced that it has hired Jay Adams as the new Chief Executive Officer of Cuentas Mobile, a wireless prepaid service provider on one of the fastest 5G networks in the US. Adams previously held executive positions at IDT Corporation and Kare Distribution, where he consistently grew annual revenue to more than $200 million. Adams has over 25 years of experience in the prepaid debit card, phone card and wireless industries and has successfully developed innovative communications products with an emphasis on the convergence of emerging markets and technologies. He has negotiated joint venture agreements to leverage the strengths of distribution networks including building one of the largest Point Of Sale (POS) distribution networks of bodegas and convenience stores. Adams also served as executive of Hispanic-focused prepaid companies Vivaro and Sakon and provided millions of customers with Prepaid Phone Cards and Financial Services, reaching over 50,000 stores in major metropolitan areas. These are the same customer profile and target markets that the Cuentas family of products is serving. Announcement • Sep 09
Cuentas, Inc. Announces Free Wireless Services for Life to First 100,000 Customers Who Sign Up for Cuentas App Cuentas Inc. announced that it will offer 100,000 GSM SIM cards with free wireless services (voice, text, & data) for life, as long as users load at least $50 cash per month on their Cuentas account. Using the promo code "CuentasMobile" during registration, users can open a Cuentas App account and the first 100,000 users will be grandfathered into this special offer and can receive free wireless services for life, paid by Cuentas Inc. Users can get a new phone number or keep their current number with an eligible device. Cuentas Mobile will provide a new Cuentas GSM SIM card at no cost. Cuentas Mobile is one of the only wireless service providers that brings wireless and financial services together under one seamless platform, the Cuentas Mobile App. The launch of Cuentas Mobile comes as Cuentas Inc. looks to make a broader impact on U.S. consumers, offering both fintech solutions and free, lifetime wireless services via the Cuentas App to demonstrate that its product scope exceeds just financial services. The company has also committed to maintaining that Cuentas Mobile services are provided on a major, Tier 1 wireless network in the U.S. Reported Earnings • Aug 17
Second quarter 2022 earnings released: US$0.21 loss per share (vs US$0.15 loss in 2Q 2021) Second quarter 2022 results: US$0.21 loss per share (down from US$0.15 loss in 2Q 2021). Revenue: US$670.0k (up 332% from 2Q 2021). Net loss: US$3.19m (loss widened 59% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Announcement • Aug 10
Cuentas Inc. announced that it has received $2.999744 million in funding On August 8, 2022, Cuentas Inc. closed the transaction. Announcement • Jul 30
Cuentas Inc. Announces Resignation of Edward Maldonado as Member of the Board of Directors Cuentas Inc. On July 25, 2022, Edward Maldonado tendered his resignation as member of the board of directors of the Company. Mr. Maldonado resigned after CIMA Telecom, shareholder of Cuentas with right to appoint one director, requested that its appointed Board Member withdraw from the Board as a Director. Board Change • Jul 01
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. Independent Director Adiv Baruch is the most experienced director on the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jun 29
Cuentas Receives Non-Compliance Notice from Nasdaq On June 21, 2022, Cuentas Inc. (the Company") received notice from The NASDAQ Stock Market (Nasdaq") indicating that, because the closing bid price for the Company's common stock has fallen below $1.00 per share for 31 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on the Nasdaq Capital Market under Rule 5550(a)(2) of Nasdaq Listing Rules. Nasdaq's notice has no immediate effect on the listing of the Company's common stock on the Nasdaq Capital Market. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until December 19, 2022, to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of the Company's common stock must meet or exceed $1.00 per share for a minimum of 10 consecutive business days prior to December 19, 2022. If the Company does not regain compliance by December 19, 2022, the Company may be eligible for an additional grace period. To qualify, the Company would be required to meet the continued listing requirements for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the minimum bid price requirement, and provide written notice of its intention to cure the minimum bid price deficiency during the second compliance period. If the Company meets these requirements, the Nasdaq staff will grant an additional 180 calendar days for the Company to regain compliance with the minimum bid price requirement. If the Nasdaq staff determines that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible for such additional compliance period, Nasdaq will provide notice that the Company's common stock will be subject to delisting. The Company would have the right to appeal a determination to delist its common stock, and the common stock would remain listed on the Nasdaq Capital Market until the completion of the appeal process. Announcement • May 24
Cuentas Inc. Announces Board Appointments On May 17, 2022, the board of directors of Cuentas Inc. appointed Sara Sooy and Sandra Orihuela as directors to the Board. Mss. Sooy and Orihuela each qualify as “independent” under Nasdaq Stock Market rules. Ms. Sooy has been appointed to the Audit Committee and Ms. Orihuela has been appointed to the Compensation Committee. Announcement • May 04
Cuentas Receives Nasdaq Deficiency Letter As previously disclosed in the Current Report on Form 8-K filed by Cuentas Inc. with the Securities and Exchange Commission on December 21, 2021, David B. Schottenstein and Richard J. Berman each resigned as a director of the Company, effective December 21, 2021. On April 29, 2022, the Company received two Nasdaq Staff Deficiency Letters indicating that, as a result of the resignations of Messrs. Schottenstein and Berman, the Company failed to comply with (i) Nasdaq's independent director requirement for continued listing as set forth in Listing Rule 5605 and (ii) the audit committee requirements for continued listing set forth in Rule 5605 of the Nasdaq Listing Rules. Nasdaq Listing Rule 5605(b)(1) requires that the Company maintain a board of directors comprised of a majority of independent directors. Following the resignations of Messrs. Schottenstein and Berman, the Company's board if directors does not consist of a majority of independent directors. The Nasdaq deficiency letter relating to this deficiency indicated that the Company is not eligible for a cure period. Accordingly, the Company has 45 calendar days (or until June 13, 2022) to submit a plan to regain compliance. If the Company's plan of compliance is accepted, Nasdaq may grant an extension of up to 180 calendar days from April 29, 2022 to evidence compliance. Nasdaq Listing Rule 5605(c)(2) requires that the Company have an audit committee comprised of at least three members who meet the qualifications set forth in such rule. With the resignation of Mr. Berman, the Company's audit committee currently consists of only two independent directors. In accordance with Nasdaq Listing Rule 5605(c)(4), Nasdaq has provided the Company with a cure period, until the earlier of (i) the Company's next annual shareholders' meeting, (ii) June 20, 2022, if the next annual shareholders' meeting is held before June 20, 2022, or (iii) December 21, 2022, in order to regain compliance. In the event that the Company does not regain compliance by this date, Nasdaq rules require the Staff to provide written notification to the Company that its securities will be delisted. At that time, the Company may appeal the delisting determination to a Hearings Panel. The Company has been taking steps to identify new director candidates to replace Messrs. Schottenstein and Berman to regain compliance with Nasdaq Listing Rule 5605(b)(1) and Rule 5605(c)(2). The Company is in the process of selecting suitable candidate and expects to regain compliance with both Nasdaq Listing Rules. Announcement • Apr 03
Cuentas Inc. announced delayed annual 10-K filing On 04/01/2022, Cuentas Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Reported Earnings • Apr 02
Full year 2021 earnings released: US$0.77 loss per share (vs US$1.16 loss in FY 2020) Full year 2021 results: US$0.77 loss per share. Net loss: US$10.7m (loss widened 32% from FY 2020). Announcement • Feb 10
Cuentas Inc. Announces Appointment of Anthony H. Meadows as Chief Operating Officer Cuentas Inc. announced on February 2, 2022, Anthony H. Meadows was appointed as the chief operating officer of the Company, beginning on February 2, 2022. Mr. Meadows has worked at Cuentas Inc. as a consultant since Nov. 1, 2021 and previously served as COO at Great America Bank (bank in formation), and Senior Vice President over Business Operations at Green Dot Bank, among other key executive leadership roles. He holds a Bachelor’s Degree in Economics from the University of Utah. Mr. Meadows is currently serving or has previously served on the following Boards: The Road Home (Salt Lake City homeless shelter), Junior Achievement of Utah, and the Network Branded Prepaid Card Association (NBPCA), now known as the Innovative Payments Association (IPA). Announcement • Jan 29
Cuentas, Inc. to Distribute Transit Cards (Tap and Go) at Participating Retail Locations in New York City InComm Payments announced that it has partnered with Cuentas Inc. to distribute transit cards (tap and go) at participating retail locations in New York City. Cuentas, in partnership with InComm Payments and prepaid telecom and digital provider SDI Black 011 (SDI), has integrated with New York City's new fare payment system to enable retail sales and reloads of transit cards. Transit smart cards are the newest and easiest way for riders to pay for public transportation. They are currently accepted across all subway stations and on all buses, allowing riders to tap and go throughout New York City. Riders can simply purchase transit cards at retail and then tap and ride at participating New York City transit stations throughout the region. Once purchased, they can reload their existing card at any of these retail locations or in the Cuentas app. Cuentas customers can also use their Cuentas card and account to reload transit cards directly in the Cuentas app. Transit cards currently support a full-fare, pay-per-ride option, including free transfers. Additional fare options will be available during future phases of the rollout, including reduced fares, student fares, special programs, and more. Announcement • Jan 12
Cuentas Inc. (NasdaqCM:CUEN) entered into a non-binding Letter of Intent to acquire Operations and Distribution Network of SDI Black 011 LLC, Mango Tel LLC and SDI Wireless LLC for $3.2 million. Cuentas Inc. (NasdaqCM:CUEN) entered into a non-binding Letter of Intent to acquire Operations and Distribution Network of SDI Black 011 LLC, Mango Tel LLC and SDI Wireless LLC for $3.2 million on October 29, 2021. As on January 5, 2022, Cuentas Inc. (NasdaqCM:CUEN) signed a binding Letter of Intent to acquire substantially all the assets of SDI Black 011 LLC, Mango Tel LLC and SDI Wireless LLC which also include the Mango Mobile MVNO, Black Wireless MVNO, Black 011 Long distance platform and operations and the SDI distribution platform and network of over 31,000 bodegas and convenience stores. Cuentas Inc. will pay $2 million into the trust account to be held in escrow pending the closing within three business days of execution of this agreement. These funds will be used to repay the outstanding loan balance owed by the sellers directly from the escrow account. The final payment of $1.2 million will also be held in escrow to be paid as partial settlement towards the outstanding loan of the sellers on or before closing. Cuentas agreed to offer employment agreements to certain key employees of the sellers. The definitive purchase and sale agreement is yet to be negotiated and entered. The deal is expected to close by or before May of this year. Gary M. Murphree of AM LAW LLC acted as legal advisor to Cuentas, Inc. and Matthew Schwerz, Esq. of Geist Schwarz & Jellinek, PLLC acted as legal advisor to Mango Tel LLC. Board Change • Nov 24
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Carol Pepper was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 17
Third quarter 2021 earnings released: US$0.16 loss per share (vs US$0.31 loss in 3Q 2020) Third quarter 2021 results: Net loss: US$2.41m (loss widened 37% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 36% per year, which means it is significantly lagging earnings. Board Change • Nov 17
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Carol Pepper was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 18
Cuentas Inc. announced delayed 10-Q filing On 08/17/2021, Cuentas Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • May 05
First quarter 2021 earnings released: US$0.13 loss per share (vs US$1.03 loss in 1Q 2020) First quarter 2021 results: Net loss: US$1.68m (loss narrowed 23% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year whereas the company’s share price has fallen by 51% per year. Reported Earnings • Mar 26
Full year 2020 earnings released: US$1.16 loss per share (vs US$1.44 loss in FY 2019) Full year 2020 results: Net loss: US$8.10m (loss widened US$6.78m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 43% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 19
New 90-day low: US$3.76 The company is down 49% from its price of US$7.40 on 20 November 2020. The American market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is up 1.0% over the same period. Announcement • Feb 11
Cuentas Inc. Announces Board Appointments Cuentas Inc. announced on February 4, 2021, in connection with the offering, the Board appointed each of Jeff Lewis and David B. Schottenstein joined the Board of Directors to serve as the company's directors. Jeff Lewis currently serves as Senior Vice President-Payments and Prepaid of Sutton Bank and has been at Sutton Bank since April 2017. Prior to joining Sutton Bank, Mr. Lewis was a Vice President, General manager Financial Services at InComm since November 2012. David B. Schottenstein is currently the Chief Executive Officer of Priv Revaux, an eyewear company, since June 2017 and has previously served as the Chief Executive Officer of DSCN Capital, an investment fund. Announcement • Feb 03
Cuentas Inc. has completed an IPO in the amount of $11.999997 million. Cuentas Inc. has completed an IPO in the amount of $11.999997 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 2,790,697
Price\Range: $4.3
Discount Per Security: $0.344
Transaction Features: Sponsor Backed Offering Announcement • Dec 18
Cuentas, Inc. Signs Five-Year Agency Agreement with Western Union Financial Services, Inc Cuentas, Inc. signed a five-year Agency Agreement with Western Union Financial Services, Inc., to integrate Western Union branded digital domestic and international money transfer services into the Cuentas Mobile Application and digital wallet in 2021. Utilizing Western Union’s Online Account Based Money Transfer Service or On-line Money Transfer services, which will include Western Union’s Domestic Money Transfer services, International Money Transfer services, Mexico Money Transfer services, and such other funds transfer or funds disbursement services that Western Union may introduce, from time to time, through Western Union’s global cross-border, cross-currency platform, Cuentas cardholders will have the ability to transfer money internationally via the Western Union network directly from their Cuentas Mobile app. Cuentas shall cooperate with Western Union in implementing all procedures mandated by law in order to comply with any applicable law and any reasonable policies and/or procedures implemented by Western Union to protect consumer privacy and/or consumer data. Announcement • Oct 29
Cuentas Inc. has filed an IPO in the amount of $6 million. Cuentas Inc. has filed an IPO in the amount of $6 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Transaction Features: Sponsor Backed Offering