Cuentas, Inc. Unleashes Shareholder Letter, Sharing Dynamic Improvements in Core Fintech Services and Exciting Feature Additions and the Current Status of its Upcoming Filing.
MIAMI BEACH, FL, March 13, 2024 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) (“CUEN” or “the Company”), a pioneer driving the seamless integration of financial services, telecommunications, and real estate for the unbanked and underbanked Hispanic demographic, is delighted to announce the release of a shareholder letter from its Chief Executive Officer, Mr. Arik Maimon. This communication offers a comprehensive update on the company's core services commercial offer and market expansion, evaluation of strategic initiatives, and a forthcoming filing update.
Dear Fellow Shareholders,
It brings me great pleasure to share our latest shareholder newsletter, designed to provide you with a thorough overview of the strides and strategic initiatives being undertaken by Cuentas to bolster revenues, profitability, and overall shareholder value.
Our steadfast dedication to achieving unparalleled growth and profitability, as outlined in our 2023 roadmap, remains resolute. The exceptional performance witnessed in the last quarter, surpassing our growth projections, serves as a testament to our unwavering commitment and focus.
Our Fintech division, Cuentas Money, is currently in the midst of a transformative transition to a new services platform. This transition will provide us with enhanced agility and customizable features. We are launching our Cuentas Visa Single Load Prepaid card, a significant milestone in expanding essential financial services to millions within the Hispanic community. With streamlined onboarding processes and minimal compliance friction, we anticipate a notable increase in our customers.
Simultaneously, we are in the final stages of launching our Cuentas Visa GPR (General Purpose Reloadable) card and enhancing the user experience and features of our mobile app. We are committed to keeping all our shareholders abreast of these imminent product releases and strategic technology agreements.
Cuentas Mobile, bolstered by robust distribution agreements, continues its rapid expansion. Our pioneering eSIM offering is revolutionizing the mobile market landscape, facilitating deeper market penetration. The eSIM, a digital iteration of the traditional SIM card, simplifies connectivity by enabling remote programmability and compatibility with a wide array of devices. This transformative innovation will soon be scaled nationwide, complemented by the integration of additional features and benefits.
Our service portfolio, carefully tailored for the United States Hispanic demographic, encompasses a comprehensive suite of cellular services and both virtual and traditional fintech solutions. We take immense pride in being the primary provider of such indispensable services to these communities, offering affordable and efficient solutions.
Preparations are currently underway for our upcoming financial 10K filing, underscoring our diligent financial stewardship and foresight. Expected to be filed by the end of March, these results will reaffirm our unwavering commitment to profitability and growth in 2024 and beyond.
The ongoing development in Tampa marks a pivotal moment for Cuentas. We are currently considering several options to divest for an attractive ROI. Recent refinancing and extensions of our line of credit have fortified our financial position, empowering us to explore these opportunities judiciously. As we evaluate various offers for this project, situated in one of the nation's fastest-growing real estate markets, we remain dedicated to maximizing returns for our shareholders.
Our management team is diligently reviewing offers and will make a prompt decision to divest our real estate property if the terms of the offer are deemed adequate. The sale of this property will inject a substantial cash infusion into Cuentas, strengthening our marketing efforts and amplifying our Cuentas Fintech and Cuentas Mobile offerings through both online and offline distribution channels.
I am committed to providing you with regular updates on our progress and accomplishments. Additionally, a comprehensive management report, in conjunction with our 10K filing, will provide detailed insights into our strategic trajectory and performance.
Thank you for your ongoing trust and support as we navigate the path to sustained success and the enhancement of shareholder value.
Warm regards,
Arik Maimon
Chairman and CEO
About Cuentas
Cuentas, Inc. (OTC: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Mobile Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. LINK: https://cuentas.com AND https://cuentasmobile.com
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Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, OTC and shareholder approval of the proposed transaction, our ability to manage our research and development programs that are based on novel technologies, our ability to successfully integrate WHEN operations and product offerings, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, market acceptance, the going concern qualification in our financial statements, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Contact Information:
Arik Maimon
CEO at Cuentas Inc
Cuentas Inc. (OTC:CUEN)
Phone: 800-611-3622
Mobile: 786-774-2835
Web: www.cuentas.com
Email: arik@cuentas.com
