Cuentas Inc - CUENW STOCK NEWS

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.

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.

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.

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.

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.

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.

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.

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.

Cuentas, Inc. (OTC: CUEN & CUENW) unveils shareholder letter highlighting triumph in proxy votes, surging revenue, and elevated gross margins. The letter shares monumental accomplishments of fiscal year 2023, the outcomes of the shareholder meeting, and the CEO's vision for the future.