MIAMI BEACH, FL, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTCID: CUEN & CUENW) (“Cuentas”) Cuentas, Inc. (the “Company”) today announced that it had extended the expiration date of its publicly traded warrants (OTCID: CUENW) (the “Warrants”) from February 4, 2026 to June 30, 2026. The Warrants were issued and sold by the Company on February 4, 2021 as part of a firm commitment public offering of its units, consisting of one share of its common stock, par value $0.001 per share (“Common Stock”), and ...

Miami Beach, FL, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Cuentas, Inc. (“Cuentas” or the “Company”) (Ticker: CUEN) today announced that, as of December 1, 2025, the Company is current in its filings with the U.S. Securities and Exchange Commission (“SEC”) and is no longer delinquent in its required periodic reports. Cuentas has now filed all outstanding annual and quarterly reports and believes it has restored full reporting status under the Securities Exchange Act of 1934. Becoming current marks an important mil ...

Financial Performance - Total revenue for the nine months ended September 30, 2025 was $0, compared to $676,000 for the same period in 2024, indicating a significant decline [77]. - The net loss for the nine months ended September 30, 2025 was $317,000, a substantial improvement compared to a net loss of $2,916,000 for the same period in 2024 [84]. - Other income totaled $582,000 during the nine months ended September 30, 2025, contrasting with other expenses of $1,272,000 in the same period of 2024 [83]. - The company incurred a net loss of $296,000 for the three-month period ended September 30, 2025, compared to a net loss of $399,000 for the same period in 2024, reflecting a decrease in selling and general administrative expenses [91]. - The gross loss for the three months ended September 30, 2025 was $7, compared to a loss of $7 for digital products in the same period of 2024 [87]. Operating Expenses - Operating expenses decreased to $899,000 for the nine months ended September 30, 2025, down from $1,561,000 in the same period of 2024, representing a reduction of approximately 42.4% [81]. - Operating expenses for the three months ended September 30, 2025 totaled $296,000, slightly down from $299,000 in the same period of 2024 [88]. Assets and Liabilities - As of September 30, 2025, the company had total current assets of $271,000, including $0 in cash, and total current liabilities of $3,708,000, resulting in a working capital deficit of $3,437,000 [94]. - The company reported an accumulated deficit of approximately $58,572,000 as of September 30, 2025, raising substantial doubt about its ability to continue as a going concern [95]. Cash Flow - For the nine months ended September 30, 2025, the company had net cash used in operating activities of $967,000, which included a net loss of $317,000 [96]. - The company's investment activities for the nine months ended September 30, 2025, resulted in net cash provided of $825,000 due to proceeds from the sale of investments in unconsolidated entities [98]. - The company reported net cash used in operating activities of $592,000 for the nine months ended September 30, 2024, which included a net loss of $2,916,000 [97]. - The company's financing activities for the six months ended June 30, 2025, resulted in net cash received of $127,000, primarily from short-term loans [99]. Investments and Financing - The company made equity investments in real estate projects in Florida under the name Cuentas Casa, aiming to provide affordable housing alternatives [70]. - Cuentas sold its 63.9% equity interest in Brooksville Property for $800,000, originally purchased for $5.05 million, to settle debts totaling approximately $1.132 million [70]. - The company entered into two Convertible Note Purchase Agreements with World Mobile Group Ltd. for an aggregate principal of $385,000, with the first agreement providing for $260,000 and the second for $125,000 [100]. - The company plans to secure additional financing sources, including the sale of Common Stock, to support operations and complete the development of its new portal and financial technology capabilities [95]. Market Focus - The company holds a 51% membership interest in World Mobile LLC, consolidating the entity for financial reporting purposes [74]. - Cuentas aims to target the Hispanic and Latino demographic, which comprises over 62 million individuals in the U.S., to expand its fintech solutions [76]. Management Outlook - Management does not expect inflation or seasonality to materially impact operations in the future [101].

Revenue Performance - Total revenue for the six months ended June 30, 2024, was $672,000, with no revenue reported in Q1 2025 due to funding issues[78] - Total revenue for the three months ended June 30, 2025, was $0, compared to $34,000 for the same period in 2024, indicating a decline of 100%[87] - Operating revenue from telecommunications services was $0 for the six months ended June 30, 2025, compared to $26,000 in 2024[78] Operating Expenses - Operating expenses decreased to $603,000 for the six months ended June 30, 2025, down from $1,262,000 in the same period of 2024, representing a net decrease of $659,000[81] - Operating expenses decreased to $320,000 in Q2 2025 from $488,000 in Q2 2024, reflecting a reduction of approximately 34.5%[91] Net Income/Loss - The net loss for the six-month period ended June 30, 2025, was $21,000, a significant reduction compared to a net loss of $2,517,000 for the same period in 2024[86] - The company reported a net income of $378,000 for the three months ended June 30, 2025, a significant improvement compared to a net loss of $2,072,000 for the same period in 2024[95] Cash Flow - The company generated net cash used in operating activities of $966,000 for the six months ended June 30, 2025, compared to $520,000 for the same period in 2024[101][102] - Investment activities resulted in net cash provided of $825,000 for the six months ended June 30, 2025, compared to $50,000 in 2024[103] - Financing activities for the six months ended June 30, 2025, resulted in net cash received of $127,000, primarily from short-term loans[104] Assets and Liabilities - As of June 30, 2025, total current assets were $280,000, with a working capital deficit of $3,154,000 due to total current liabilities of $3,434,000[98] - Cash and cash equivalents as of June 30, 2025, were approximately $1,000, with an accumulated deficit of approximately $58,276,000[100] Investments and Agreements - The company sold its 63.9% equity interest in Brooksville Property for $800,000, originally purchased for $5.05 million, to settle debts totaling approximately $1.132 million[71] - The company made equity investments in real estate projects in Florida under Cuentas Casa to provide affordable housing alternatives[71] - The company entered into two Convertible Note Purchase Agreements with World Mobile Group Ltd. for a total of $385,000[72] - The company entered into two Convertible Note Purchase Agreements with World Mobile Group Ltd. for an aggregate principal of $385,000, which are convertible into shares of the company's common stock[105] Future Plans - The company expects to be in compliance with SEC reporting by early December 2025 and plans to reopen mobile services in December 2025 targeting known vertical markets[82] - The company holds a 51% membership interest in World Mobile LLC, consolidating the entity for financial reporting purposes[75]

Financial Performance - Total revenue for the three months ended March 31, 2025, was $639,000, compared to $639,000 for the same period in 2024, indicating no growth [81]. - Cost of revenues for the three months ended March 31, 2025, was $0, a significant decrease from $708,000 in the same period in 2024 [82]. - Operating expenses decreased to $283,000 for the three months ended March 31, 2025, down from $772,000 in the same period in 2024, representing a net decrease of $489,000 [85]. - The net loss for the three-month period ended March 31, 2025, was $399,000, compared to a net loss of $445,000 for the same period in 2024 [89]. - For the three months ended March 31, 2025, the Company reported a net cash used in operating activities of $15,000, with a net loss of $399,000 [93]. - In the same period for 2024, the net cash used in operating activities was $310,000, with a net loss of $445,000 [94]. Assets and Liabilities - As of March 31, 2025, the company had total current assets of $1,096,000 and total current liabilities of $4,647,000, resulting in a working capital deficit of $3,551,000 [91]. - The accumulated deficit as of March 31, 2025, was approximately $55,654,000, raising substantial doubt about the company's ability to continue as a going concern [92]. - As of March 31, 2025, the Company had no off-balance sheet arrangements [99]. Investments and Financing - The company made equity investments in real estate projects in Florida under the name Cuentas Casa, aiming to provide affordable housing alternatives [74]. - The company entered into two Convertible Note Purchase Agreements with World Mobile Group Ltd. for an aggregate principal amount of $385,000 [75]. - The company holds a 51% membership interest in World Mobile LLC, consolidating the entity for financial reporting purposes [78]. - Financing activities for Q1 2024 resulted in net cash received of $133,000, primarily from a short-term loan of $150,000 [96]. - On September 22, 2025, and October 1, 2025, the Company entered into Convertible Note Purchase Agreements with World Mobile Group Ltd. for an aggregate principal of $385,000 [97]. - The first agreement provided for $260,000 of notes, while the second provided for $125,000 of notes [97]. Market Focus and Management Outlook - The company aims to target the Hispanic Latino population, which was over 62 million according to the 2020 U.S. Census, to expand its fintech solutions [80]. - Management believes that inflation and seasonality have not materially affected operations and do not expect future impacts [98]. - Recently issued accounting standards are not expected to have a material impact on the Company's consolidated financial statements [102]. Cash Flow and Non-Cash Expenses - The Company had no investing activities for the three months ended March 31, 2025 or 2024 [95]. - Non-cash expenses for Q1 2024 included share-based compensation of $120,000, while changes in operating assets and liabilities utilized cash of $422,000 [94].

Financial Condition - As of December 31, 2024, the company had cash and cash equivalents of approximately $15,000, a working capital deficit of approximately $3,170,000, and an accumulated deficit of approximately $58,255,000[66]. - The company's auditors expressed substantial doubt regarding its ability to continue as a going concern due to a lack of financial liquidity[67]. - The company has incurred substantial losses from operations to date and may never achieve profitability, which could adversely affect the market value of its common stock[76]. - The company requires additional funding to support its operations, and any new equity financing could have a substantial dilutive effect on existing stockholders[66]. - The company's convertible debt could lead to dilution of existing shareholders if additional shares are issued upon conversion[103]. Internal Controls and Compliance - The company is currently facing material weaknesses in its internal control over financial reporting, which could result in material misstatements in its financial statements[78]. - The company is subject to various federal, state, and foreign consumer protection laws, and failure to comply could have a material adverse effect on its business and financial condition[89]. - The company is subject to increased federal regulations, including the CARD Act and FinCEN's Prepaid Access Rule, which may raise operational costs and impact revenues[90]. - Compliance with Money Transmitter Licenses is mandatory in several states, and failure to maintain these licenses could adversely affect the company's operations and financial condition[91]. - The company collects and stores personally identifiable information, making it subject to various privacy regulations, and any data breaches could lead to significant liabilities and reputational damage[92]. - The company is currently out of compliance with SEC filings but expects to resolve this issue shortly, which is crucial for maintaining investor confidence[102]. Operational Risks - The company is involved in various litigation matters that could harm its business and financial condition if resolved adversely[82]. - The company relies on a small number of key personnel, and the loss of any of these individuals could materially and adversely affect its operations[86]. - The company is subject to evolving anti-money laundering regulations, which may increase operational costs and disrupt business[88]. - Cuentas Mobile relies on third-party network operators for service delivery, making its performance dependent on the reliability of these providers[97]. - The company has an operating history of almost three years in the mobile phone business, and failure to attract and retain subscribers could significantly impact its financial results[99]. Market Competition and Stock Performance - The company faces competition from larger, well-financed competitors, which may hinder its ability to compete effectively in the market[95]. - The company's stock is subject to penny stock rules, which may reduce trading activity and make it difficult for shareholders to sell their shares[106]. - The company does not expect to pay dividends for the foreseeable future, which may deter potential investors seeking current income[110]. - The company's ability to achieve and maintain profitability is dependent on generating revenues and managing development costs effectively[73].

Revenue and Financial Performance - Revenue for the nine months ended September 30, 2024, totaled $676,000, a decrease from $1,000,000 for the same period in 2023, primarily due to a $569,000 decline in wholesale telecommunication services[92] - Revenue for the three months ended September 30, 2024, was $4,000, a significant decrease from $895,000 for the same period in 2023, primarily due to reduced sales of digital products[104] - The company incurred a net loss of $2,916,000 for the nine-month period ended September 30, 2024, an improvement from a net loss of $4,270,000 for the same period in 2023[103] Cost and Expenses - Cost of revenues for the nine months ended September 30, 2024, was $760,000, down from $1,247,000 in the same period in 2023[94] - Cost of revenues for the three months ended September 30, 2024, was $11,000, compared to $971,000 for the same period in 2023[106] - Selling, general and administrative expenses totaled $1,542,000 for the nine months ended September 30, 2024, a decrease of $1,957,000, or 56%, compared to $3,499,000 for the same period in 2023[99] - Operating expenses decreased to $1,561,000 for the nine months ended September 30, 2024, from $3,512,000 in the same period in 2023, representing a net decrease of $1,951,000[98] - Operating expenses for the three months ended September 30, 2024, totaled $299,000, a decrease of $805,000, or 73%, from $1,104,000 for the same period in 2023[109] Assets and Liabilities - As of September 30, 2024, the company had total current assets of $1,197,000 and total current liabilities of $3,897,000, resulting in a working capital deficit of $2,700,000[117] - The company had approximately $15,000 in cash and cash equivalents and an accumulated deficit of approximately $57,862,000 as of September 30, 2024, raising substantial doubt about its ability to continue as a going concern[118] Other Income and Investments - The company recognized a $475,000 credit from InComm as other income in Q3 2024 following the termination of the processing agreement[81] - Cuentas has made equity investments in real estate projects in Florida, aiming to provide affordable housing alternatives to underserved communities[83] - The company acquired 19.99% of the membership interests of Cuentas SDI, LLC for a purchase price of $215,500, with payments totaling $108,000 made by OLB Group, Inc.[124] Strategic Focus and Market - The company is focusing on integrating FinTech, e-finance, and e-commerce services to deliver mobile financial services to unbanked and underbanked populations[80] - The Hispanic Latino population in the U.S. is over 62 million, representing a significant target market for the company's financial services[91] - Cuentas-SDI's convenience store distribution network includes over 31,000 locations, enhancing the company's digital distribution capabilities[85] Management and Accounting - Management believes that inflation and seasonality have not materially affected operational results and do not expect future material impacts from these factors[125] - The preparation of financial statements requires management to make assumptions and estimates that affect reported amounts, as detailed in the Company's Annual Report for the fiscal year ended December 31, 2022[127] - Recently issued accounting standards are not expected to have a material impact on the Company's consolidated financial statements[128] - As a smaller reporting company, the Company is not required to provide quantitative and qualitative disclosures about market risk[129] Financing Activities - Net cash used in operating activities for the nine months ended September 30, 2024, was $592,000, compared to $3,201,000 for the same period in 2023[119] - The company's financing activities for the three months ended September 30, 2024, resulted in net cash received of $321,000, primarily from short-term loans[122] Off-Balance Sheet Arrangements - As of September 30, 2024, the Company had no off-balance sheet arrangements[126] Significant Transactions - The Company signed a Membership Interest Purchase Agreement for the sale of its full interests in Brooksville for a total consideration of $800 million, closing on May 27, 2025[123]

Revenue and Income - Revenue for the six months ended June 30, 2024, totaled $672,000, a significant increase from $104,000 for the same period in 2023, primarily driven by a $569,000 increase in wholesale telecommunication services[94] - The company recognized a $475,000 credit from InComm as other income in Q3 2024 following the termination of the processing agreement[83] - Revenue for the three months ended June 30, 2024, totaled $34,000, a decrease from $40,000 for the same period in 2023, attributed to lower sales of digital products[107] Costs and Expenses - The cost of revenues during the six months ended June 30, 2024, was $749,000, compared to $276,000 for the same period in 2023, reflecting increased purchases of wholesale minutes and digital products[96] - Operating expenses totaled $1,262,000 for the six months ended June 30, 2024, a decrease of $1,145,000 compared to $2,407,000 for the same period in 2023, representing a reduction of 47.6%[101] - Selling, general and administrative expenses decreased by $1,158,000, or 48.2%, to $1,243,000 for the six months ended June 30, 2024, primarily due to reductions in officers compensation and professional services[102] - Operating expenses for the three months ended June 30, 2024 totaled $488,000, down from $780,000 in the same period in 2023, representing a decrease of 37.4%[114] Profitability and Loss - The gross loss for digital products and General Purpose Reloadable Cards was $93,000 for the six months ended June 30, 2024, compared to a loss of $128,000 in the same period in 2023[98] - The company incurred a net loss of $2,517,000 for the six-month period ended June 30, 2024, an improvement from a net loss of $3,107,000 for the same period in 2023[106] - The company reported a net loss of $2,072,000 for the three-month period ended June 30, 2024, compared to a net loss of $1,412,000 for the same period in 2023[119] Financial Position - As of June 30, 2024, the company had total current assets of $1,321,000 and total current liabilities of $3,656,000, resulting in a working capital deficit of $2,335,000[122] - The company had approximately $56,000 in cash and cash equivalents and an accumulated deficit of approximately $57,463,000 as of June 30, 2024, raising substantial doubt about its ability to continue as a going concern[125] Investments and Financing - Cuentas has made equity investments in real estate projects in Florida, aiming to provide affordable housing alternatives to underserved communities[85] - The Company's investment activities for the six months ended June 30, 2023 resulted in net cash used of $2,157,000, primarily due to investments totaling $2,064,000 in Brooksville Development Partners, LLC[129] - Financing activities for the six months ended June 30, 2023 resulted in net cash received of $4,315,000, mainly from the sale of common stock totaling $4,319,000[130] - The Company acquired 19.99% of the membership interests of Cuentas SDI, LLC for a purchase price of $215,500 on May 20, 2024[132] - The Company signed a Membership Interest Purchase Agreement on May 22, 2025, for the sale of its full interests in Brooksville for total consideration of $800[131] Market and Strategic Focus - Cuentas has exited the prepaid debit-card vertical but remains engaged in the FinTech sector, leveraging InComm's distribution network for higher-margin digital-content products[84] - The company is focusing on integrating FinTech, e-finance, and e-commerce services to deliver mobile financial services to unbanked and underbanked populations in the USA[82] - Cuentas's distribution network includes over 31,000 bodegas and convenience stores, enhancing access to digital products and services for target markets[91] - The Hispanic Latino population in the U.S. is over 62 million, representing a significant market for Cuentas's financial services[93] - The company plans to evaluate synergies between CuentasMAX and World Mobile's platform for potential integration and further development[81] Operational Outlook - Management does not expect inflation or seasonality to materially impact operations in the future[133] - As of June 30, 2024, the Company had no off-balance sheet arrangements[134] - Recently issued accounting standards are not expected to have a material impact on the Company's consolidated financial statements[137] Gross Margins - Gross loss margin for the six months ended June 30, 2024 was 11%, with a 46% gross profit margin for the telecommunications segment and a gross loss margin of 121% for the digital product segment[100] - Gross loss margin for the three months ended June 30, 2024 was 23%, with a 100% gross profit margin for the telecommunications segment and a 21% margin for the digital product segment[113]

Core Viewpoint - Cuentas, Inc. has partnered with World Mobile Group to provide an alternative internet access solution for 23 million households in the U.S. following the termination of the Affordable Connectivity Program, aiming to deliver cost-effective connectivity tailored to low-income families [1][10]. Group 1: Partnership and Market Opportunity - The partnership with World Mobile aims to leverage innovative technology to create localized networks, providing internet access at a cost that is 12 times less than traditional networks [6]. - The termination of the Affordable Connectivity Program presents a significant market opportunity for alternative telecommunication providers like Cuentas, targeting a potential market of 23 million households [10]. - Cuentas plans to promote this service through a network of 30,000 retail outlets across the U.S., enhancing its distribution capabilities [9]. Group 2: Social Impact and Services - The initiative is designed to facilitate access to essential services such as online education, job opportunities, healthcare, and community engagement for low-income families [3]. - Cuentas is creating an alternative financial ecosystem that integrates fintech, mobile telecommunications, and real estate services to serve the unbanked and underbanked Hispanic demographic [4]. - The Cuentas Mobile offering will include advanced eSIM and traditional SIM technology, ensuring reliable service and soon incorporating secure communications solutions [7]. Group 3: Company Overview - Cuentas, Inc. is focused on delivering next-generation digital financial services to underserved populations in the U.S. through its proprietary technologies [4]. - The company has launched a General Purpose Reloadable (GPR) Card that includes a digital wallet and offers discounts and rewards for purchases [4]. - World Mobile operates on a blockchain-based model, promoting a sharing economy that allows individuals and businesses to earn revenue by operating nodes on its network [11].

Cuentas to Integrate with World Mobile's Decentralized Network, Offering US Mobile Users Costefficient Global Roaming and Connectivity at 12 Times Less Than Legacy Networks MIAMI BEACH, FL, June 04, 2024 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) ("CUEN" or "the Company"), a pioneer driving the seamless integration of fintech, mobile telecommunications, and real estate for the unbanked and underbanked Hispanic demographic, proudly announced today the signing of a Letter of Intent (LOI) with World ...