Company Management Reports the Successful Completion of Key Strategic Initiatives that are positioning the Company to take advantage for the escalating demand for financial and lifestyle solutions for a growing segment of the population who have been left out of the system.
MIAMI BEACH, Fla., July 20, 2023 — Cuentas, Inc. (NASDAQ:CUEN) (NASDAQ:CUENW) (“Cuentas”), the Company that is creating an alternative financial ecosystem for the growing, hard-working segment of the population who do not have access to traditional financial and lifestyle alternatives, today released their shareholder update, underscoring the Company’s progress and the new company branding and unified focus on serving the underserved. Over the past 12 months, Cuentas Management has successfully launched its new mobile platform, Cuentas Mobile as well as the recently announced, sustainable community technology solution Cuentas Casa, which stands to revolutionize sustainable and affordable living. To round out it its core ecosystem, the Company is currently on track to launch its new Cuentas Money Application and financial solutions package, in the fall of 2023. Management believes that these accomplishments put the Company in the position to grow significantly in the coming months and years, updating, upgrading, and rebranding around its core mission providing tools for managing life and solutions for living life to the millions of hardworking Americans who have been left out of the system.
Management further reports that its successful stock split and subsequent NASDAQ confirmation have enabled the company to focus on its core business objective of building a complete ecosystem for what Forbes has called a “the next trillion-dollar market opportunity” (LINK Forbes Article).
“It has been an incredible year as we have taken the Company out of its infancy and into a new focus on serving the underserved” said Cuentas CEO and Co-Founder, Arik Maimon. “We are hitting our stride and looking forward to an exciting next 12 months.” Highlights from management include:
CUENTAS Mobile Launch.
Company’s launch of Cuentas Mobile represents an important evolution in its Telco services solution. Cuentas Mobile (www.cuentasmobile.com) offers consumers straightforward access to affordable telco services, including free talk and text in each package.
CUENTAS Money Update.
Cuentas is re-imagining its money solution in partnership with global financial giant, InComm, creating a digitally driven money management platform that can be directly integrated into its mobile devices as well as into physical locations via network connectivity or directly in Cuentas cards, a collection of debit and bonus cards which management expects to launch in the fall of 2023. (LINK Nasdaq Article)
CUENTAS SDI Partnership.
As reported earlier this week, Cuentas has brought in its partner, OLB to take the majority interest in Cuentas’ 31,000+ convenience store “bodega” network. Cuentas will be providing its Mobile and Money solutions through this growing local store platform, serving local urban communities with big-box type retail options while OLB will manage the day-to-day business from core retail to advanced point of sale integration.
CUENTAS Casa Successful Initial Project and Growing Pipeline:
Built upon the Company’s unique deal with revolutionary sustainable building technology company Renco, Cuentas is partnering to roll out entire sustainable residential communities in key areas in Florida hardest hit by a rental housing crises that a recent Harvard Report has called “the worst in the nation” (LINK: Housing Crisis). In under six months, Cuentas has locked up the land option for five new projects which represent over 1500 residential units in over 100 acres across Florida, with the initial test project complete and the next nearing ground break. Management believes that this bold move creates a first-of-its kind and incredibly powerful third pillar to Cuentas Mobile and Cuentas money, with actual physical community development.
“Tying physical construction technology to our portfolio of fin-tech solutions dramatically broadens our portfolio, creating the opportunity for immense, measurable return and value creation”, said Cuentas President and Co-Founder, Michael De Prado. “The response from the communities we are impacting, as well as shareholders and partners, has been overwhelming.”
In addition to its core initiatives, the Company has launched a rebranding program, bringing together the three pillars of Cuentas Mobile, Cuentas Money and Cuentas Casa into a single web presence, Cuentas.com, while re-launching the Company’s mobile site, Cuentasmobile.com with fresh branding. Management expects further product and solution launches as well as new Cuentas Casa development announcements to continue throughout the year.
NEW CUENTAS POSITIONING BRINGS A BROAD RANGE OF SERVICES TOGETHER UNDER ONE ROOF
“We have spent the last year investing in bringing together meaningful solutions that serve the underserved, and the progress is inspiring”, continued Maimon. “We do not believe anyone has ever approached the underserved problem with such a broad scope of integrated solutions.”
About CUENTAS Mobile
CUENTAS Mobile is Cuentas’ first step in our plan to bring increasingly powerful and cost-efficient telecommunications solutions to those that have been unable to acquire or afford them. With a growing selection of plans and services, delivered on the nation’s largest 5G and 4G LTE network, Cuentas Mobile puts the power of the network in the palm of your hand.
About CUENTAS Money
CUENTAS Money is designed to provide a broad range of instant access financial services and solutions to the growing segment of the population who do not have access to such services. In partnership combines a powerful application with even more powerful access, giving users the control of managing all their transactions, payments, money transfers, transfers in one place.
About CUENTAS SDI
Cuentas SDI, LLC. is the company that owns the platform of Black011.com and the network serving over 31,000 convenience stores (“Bodegas”) in and around New York and New Jersey. The Company is managed and controlled by The OLB Group, Inc. Cuentas Inc., is a shareholder in Cuentas SDI, LLC. Black011.com is the network that will deliver a range of services to the network’s customers, including digital incentives, promotions, gift cards, discounts, top up services, telecommunication services, money transfer solutions and other digital and physical products and solutions true the network of financial partners.
About CUENTAS Casa
CUENTAS CASA’s unique approach to property development combines state-of-the-art sustainable building technology with intelligent property management systems with the goal of developing complete residential communities in a fraction of the time and at a fraction of the cost of traditional development. By selectively acquiring locations near metropolitan areas and immediately working with our partners to move into the construction phase, CUENTAS is able to pass on the savings in construction and maintenance directly to the resident. Management has seen rental prices reduced by as much as 30% over traditional residential communities.
About Cuentas
Cuentas, Inc. (NASDAQ: CUEN & CUENW) is creating an alternative financial ecosystem for the growing 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 under-banked and underserved populations across America and eventually, the world. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications solution, with CUENTAS Money, its core financial services offerings to help entire communities enter the modern financial marketplace. In Q1 of 2023 Cuentas launched Cuentas Casa, an alternative housing community development solution based on a revolutionary, patented, sustainable building system. Management believes adding this construction technology to its offerings bridges the ‘need gap’, providing a first of its kind combination of financial and lifestyle solutions to the underbanked and underserved, putting the Company in a unique position to take advantage of what has been called a Trillion-dollar opportunity (LINK Forbes Article).
CUENTAS LINK: https://cuentas.com
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. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “believe,” “plan,” or “expect” or similar statements are forward-looking statements.
Investor Relations
Cuentas, Inc.
800-611-3622
info@cuentas.com
SOURCE Cuentas, Inc.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Cuentas Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Cuentas Inc.’s industry; (b) market opportunity; (c) Cuentas Inc.’s business plans and strategies; (d) services that Cuentas Inc. intends to offer; (e) Cuentas Inc.’s milestone projections and targets; (f) Cuentas Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Cuentas Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Cuentas Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Cuentas Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Cuentas Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Cuentas Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Cuentas Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Cuentas Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Cuentas Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Cuentas Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Cuentas Inc.’s business operations (e) Cuentas Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Cuentas Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Cuentas Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Cuentas Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
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