New York City / Miami Beach, March 30, 2026 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTCQB: CUEN), a leading integrated communications, entertainment, and lifestyle platform company, today 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, ...

Miami Beach, FL, March 02, 2026 (GLOBE NEWSWIRE) -- Cuentas Inc. (OTCQB: CUEN), a leading integrated communications, entertainment, and lifestyle platform company, today announced that its 51%-owned subsidiary, World Mobile LLC, has initiated Mobile Virtual Network Operator (MVNO) cellular services in the United States for customers of Israel-based mobile carrier Hallo 015 who are traveling to or living in the U.S. The new cross-border mobile solution enables 015 subscribers to access seamless U.S. voice, ...

Core Insights - Cuentas Inc. and World Mobile Group Ltd have announced a transformative equity transaction where World Mobile Group Ltd converted its payable notes into 1,277,018 shares of Cuentas Inc., representing approximately 18.5% ownership of the company, indicating strong confidence in Cuentas' platform and accelerating their shared mission to build a next-generation mobile, blockchain, and media ecosystem [1][6] Group 1: Company Overview - Cuentas Inc. is an integrated communications, entertainment, and lifestyle platform that delivers a mobile-first consumer experience, combining mobile telephony, premium entertainment content, and digital lifestyle services into a single ecosystem [7] - Cuentas holds a 51% ownership of World Mobile LLC, which integrates existing and emerging technologies to provide reliable mobile services, including voice, text, data, and VPN-enabled connectivity [7] - The company is modernizing the entertainment marketplace by building a decentralized media platform that combines licensed and original content, live events, and creator-driven programming [7] Group 2: Strategic Partnership - The partnership between Cuentas and World Mobile Group Ltd is driven by aligned leadership, with CEOs Shalom Arik Maimon and Micky Watkins bringing over 40 years of combined industry experience [4] - The collaboration focuses on leveraging proven assets to create a unified market offering, enhancing their capabilities in mobile services, blockchain infrastructure, and media distribution [3][4] - The companies are advancing plans to expand into media and broadcasting, positioning their platform at the intersection of connectivity, culture, and commerce [5] Group 3: Market Position and Growth - World Mobile Group Ltd manages the WMTx crypto token ecosystem, which has generated over 1.5 billion tokens in average daily trading volume over the last 30 days, indicating rising global adoption and market momentum [2] - The equity conversion is seen as a statement of belief in the companies' vision, with Cuentas positioned for meaningful growth in the U.S. and beyond [6] - The partnership aims to deliver disruptive mobile services and blockchain-powered solutions to a global audience, aligning ownership, leadership, and vision for accelerated execution [6]

Group 1 - Cuentas, Inc. has extended the expiration date of its publicly traded warrants from February 4, 2026, to June 30, 2026, to encourage their exercise [1][4] - The warrants were originally issued on February 4, 2021, as part of a public offering, with a total of 2,790,697 units sold at $4.30 per unit, generating approximately $12.0 million in gross proceeds [2] - A reverse stock split occurred on March 24, 2023, at a ratio of 1-for-13, resulting in an increased exercise price of the warrants to $55.90 per share [3] Group 2 - The company plans to use the gross proceeds from the exercise of the warrants for working capital and general corporate purposes [4] - The company has restructured its business and entered into joint ventures with World Mobile, LLC and World Mobile Media Group, LLC [4] - The company has amended the Warrant Agency Agreement to allow the Board of Directors to reduce the exercise price of the warrants if market conditions are favorable [4]

Core Viewpoint - Cuentas, Inc. has restored its SEC reporting status as of December 1, 2025, marking a significant milestone in its efforts to regain trust with stakeholders [1][2][3] Group 1: SEC Reporting Status - The company has filed all outstanding annual and quarterly reports and believes it has achieved full reporting status under the Securities Exchange Act of 1934 [2] - Cuentas is no longer delinquent in its SEC filings, which is crucial for its future operations and credibility [1][3] Group 2: Future Plans and Business Strategy - The CEO emphasized that becoming current with SEC filings is just the beginning, and the company is focused on executing its business development strategy [3][4] - Cuentas aims to return to trading on a major U.S. exchange and build long-term value on a stronger and more transparent foundation [3][4] Group 3: Communication with Stakeholders - The company plans to keep investors updated as it progresses through its business development process [4] - The CEO expressed gratitude to shareholders for their patience and support during the process of restoring compliance [3]

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]