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CUENTAS INC - CUEN STOCK NEWS

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Cuentas Inc., a financial technology company, provides mobile banking, online banking, prepaid debit, and digital content services to the unbanked, underbanked, and underserved communities in the United States and internationally. It offers prepaid voice, text, and data mobile phone services; domestic and international long-distance voice, text, and data telephony services. The company also provides Cuentas Fintech app, a mobile application that allows cardholders to store and manage their products purchased in the Cuentas virtual marketplace where tier-1 retailers, virtual in-game currencies, Amazon cash, and cellular telecom prepaid minutes top-ups can be purchased usually at discounted prices. Cuentas Inc. was founded in 2005 and is headquartered in Miami, Florida.

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Cuentas, Inc. (OTC: CUEN & CUENW) has announced a significant strategic shift, moving away from fintech to focus on digital content and product distribution, along with mobile data and cellular offerings. The company has mutually agreed with InComm to end their fintech processing agreement for prepaid debit cards, receiving a $475,000 credit in the process. Cuentas will maintain its InComm Resale Agreement to provide digital content, transportation access, mobile top-ups, and cellular services.

The company is working on integrating services with World Mobile and a nationwide carrier to revolutionize digital and prepaid mobile telecommunications in the US, including universal and Lifeline access. CEO Arik Maimon emphasized that this new direction will combine their long-term relationship with InComm and newly developing partnerships to leverage Cuentas' distribution network and telecommunications expertise.

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Cuentas (OTC: CUEN & CUENW), a leader in fintech, telecommunications, and real estate for underbanked Hispanic communities, has partnered with World Mobile to provide cost-effective internet connectivity to 23 million U.S. households affected by the termination of the Affordable Connectivity Program (ACP) on June 1, 2024.

The initiative will leverage World Mobile's platform, deploying localized networks to offer internet access, roaming services, and mobile solutions at a fraction of traditional network costs. A nationwide rollout is expected by July 2024, utilizing Cuentas' extensive retail network of 30,000 outlets. This program aims to improve education, job opportunities, healthcare access, community engagement, and public services for low-income families.

CEO Arik Maimon highlighted the opportunity created by ACP's termination and emphasized Cuentas' capability to deliver affordable, efficient mobile data networks. The company continues to expand its market presence with a robust mobile service and advanced eSIM and traditional SIM technology, ensuring reliable connectivity.

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Cuentas, a company focused on fintech for the unbanked Hispanic demographic, has signed a Letter of Intent with World Mobile Group to introduce cost-effective global roaming and financial services across 30,000 US retail locations. This partnership aims to provide mobile users connectivity at 12 times less cost than traditional networks, using both eSIM and SIM technologies. The collaboration will leverage World Mobile's decentralized platform to create localized networks, enhancing Cuentas' offerings in telecommunications and financial solutions. The initiative targets bodegas, expanding Cuentas' market presence and offering financial freedom and efficient mobile data networks to diverse communities in the US.

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Cuentas (OTC: CUEN) has announced its Q1 2024 financial results, revealing an impressive 898% year-over-year increase in sales, rising to $639,000 from $64,000 in Q1 2023. The sale of the Brooksville property and a 19.99% interest in Cuentas SDI, valued at $7.2 million and $215,500 respectively, is set to bolster liquidity. The company also reported a 20% reduction in current liabilities and significant drops in operating expenses, which fell to $774,000 from $1,627,000 in the same period last year. However, the gross profit margin showed mixed results with an overall gross loss margin of 11%. The company made strategic investments, including the acquisition of shares in Sekur Private Data These moves aim to enhance the Cuentas Mobile service offerings. Despite a net loss of $445,000 for the quarter, it marked a significant improvement from the $1,695,000 net loss in Q1 2023.

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Sekur Private Data (OTCQB: SWISF) is entering the Telecom and Fintech markets with a strategic agreement with Cuentas, Inc., receiving over $5 million in capital contributions. The partnership aims to boost profitability through marketing, sales initiatives, software development, and customer care enhancements. Sekur will acquire M&M Telecom, integrating Swiss-hosted security solutions into Cuentas Mobile services, focusing on security and confidentiality for corporate and retail users.

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Cuentas, Inc. reports improved financial results for FY 2023, driven by diversified offerings in fintech, mobile telecom, and real estate. The company expects significant profits from the imminent sale of its Tampa property. Cuentas strategically aligns its services with the needs of the Hispanic demographic, focusing on affordability and value. The company's investments in real estate projects in Florida showcase a commitment to sustainable housing solutions and technological innovation. Financially, Cuentas saw a decrease in revenues but managed to reduce costs, resulting in a net loss improvement compared to the previous year. The company's cash position and assets also showed positive growth.
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Cuentas, Inc. announces the sale of its Brooksville, Florida property for $7.2 million, marking a significant leap from its $5.05 million acquisition price. The transaction aims to strengthen the company's financial position, focusing on fintech and mobile services. The sale unlocks liquidity, providing resources for future ventures and reinforcing the company's strategic direction. Management views the deal as a tactical triumph, aligning with profitability objectives and enhancing cash flow.
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Cuentas, Inc. releases a shareholder letter detailing improvements in core fintech services, upcoming product launches, and market expansion. The company highlights the successful performance in the last quarter, the launch of new prepaid cards, mobile app enhancements, and the revolutionary eSIM offering. They also discuss the upcoming financial filing, potential divestment opportunities in Tampa, and the positive impact on shareholder value.
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Cuentas, Inc. announces key developments in its mortgage and loan agreements, securing a $500,000 Line of Credit for the Tampa real estate project. The company has extended its mortgage by $3,000,000, showcasing strong financial support. Cuentas aims to expedite project development and provide high-quality housing solutions for lower-income families through innovative construction methods.
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Cuentas, Inc. announces key developments regarding its Tampa real estate project and line of credit, including a $500,000 financial injection. The Company secures a $3,000,000 mortgage extension, showcasing strong financial support. Cuentas Casa initiative aims to provide high-quality housing solutions for the unbanked Hispanic market, leveraging innovative construction methods and strategic partnerships.
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FAQ

What is the current stock price of CUENTAS (CUEN)?

The current stock price of CUENTAS (CUEN) is $0.0205 as of December 23, 2024.

What is the market cap of CUENTAS (CUEN)?

The market cap of CUENTAS (CUEN) is approximately 10.9K.

What services does Cuentas Inc. provide?

Cuentas Inc. provides mobile banking, online banking, prepaid debit, and digital content services to unbanked, underbanked, and underserved communities.

Where is Cuentas Inc. headquartered?

Cuentas Inc. is headquartered in Miami, Florida.

When was Cuentas Inc. founded?

Cuentas Inc. was founded in 2005.

What is the Cuentas Fintech app?

The Cuentas Fintech app is a mobile application that allows cardholders to store and manage their products purchased in the Cuentas virtual marketplace.

What type of phone services does Cuentas Inc. offer?

Cuentas Inc. offers prepaid voice, text, and data mobile phone services.

What kind of telephony services does Cuentas Inc. provide?

Cuentas Inc. provides domestic and international long-distance voice, text, and data telephony services.

What are the benefits of using the Cuentas Fintech app?

The Cuentas Fintech app allows cardholders to purchase a variety of products at discounted prices from the Cuentas virtual marketplace.

Who is the target demographic for Cuentas Inc.'s services?

Cuentas Inc. targets the unbanked, underbanked, and underserved communities in the United States and internationally.

How can customers access Cuentas Inc.'s services?

Customers can access Cuentas Inc.'s services through their mobile devices via the Cuentas Fintech app.

What sets Cuentas Inc. apart from other financial technology companies?

Cuentas Inc. focuses on providing next-generation digital financial services to populations who do not have access to traditional financial alternatives.

CUENTAS INC

OTC:CUEN

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CUEN Stock Data

10.92k
1.84M
32.75%
3.05%
Software - Application
Technology
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United States of America
Miami Beach