CUEN 10-K & 10-Q changes, risk factors and insider trading
Cuentas Inc. (also CUENW) · OTC · Wholesale-Groceries & Related Products · CIK 1424657 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
New heading “World Mobile Media Group LLC may be unable to attract and retain talent or content providers.”
Removed heading “We are subject to Anti-Money Laundering Regulation.”
Removed heading “We are subject to Federal Regulation.”
Removed heading “We are subject to Money Transmitter Licenses or Permits.”
Removed heading “We were subject to Card Association and Network Organization Rules.”
Largest changes
“At the federal level, Congress and federal regulatory agencies have enacted and implemented new laws and regulations that affect the prepaid industry, such the CARD Act and FinCEN’s Prepaid Access Rule. Moreover, there are currently proposals before Congress that could further substantially change the way banks, including prepaid card issuing banks and other financial services companies, are regulated and are permitted to offer their products to consumers. …”see in full comparison
“In addition to the federal, state, local, and foreign jurisdiction laws and regulations discussed above, we, Cuentas and our issuing banks, were also subject to card association and debit network rules and standards. The operating rules govern a variety of areas, including how consumers and merchants may use their cards and data security. Each card association and network organization audits us from time to time to ensure our compliance with these standards. …”see in full comparison
“We are subject to Anti-Money Laundering Regulation.”see in full comparison
“World Mobile Media Group LLC may be unable to attract and retain talent or content providers.”see in full comparison
“We were subject to Card Association and Network Organization Rules.”see in full comparison
Full comparison: every changed paragraph (24)
We have a limited operating history in our new business plan and therefore
therefore we cannot ensure, either in the near- or long-term, that we will be able to generate cash flow or profit.
We have a limited operating history in our new business plan upon which
you may evaluate our business and an investment in our Common Stock may entail significantly more risk than the shares of common stock
of a company with a substantial operating history. Our ability to successfully develop our products, and to realize consistent, meaningful
revenues and profit has not been established and cannot be assured. For us to achieve success, our products must receive broader market
acceptance by consumers. Without this market acceptance, we will not be able to generate sufficient revenue to continue our business operation.
operation. If our products are not widely accepted by the market, our business may fail.
Update for 2024
year end Maintaining effective internal control over financial reporting and
effective disclosure controls and procedures are necessary for us to produce reliable financial statements. As discussed in Item 9A –
“Controls and Procedures” of ourthis Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in our quarterly
report for the period ended September 30, 2024report, we have evaluated our internal control over financial reporting and our disclosure
controls controls
and procedures and concluded that they were not effective as of December 31, 2024 or September 30, 2024.2025. A material weakness is defined
as a deficiency,
or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility
that a material
misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis. The material weaknesses
weaknesses we identified are:
Operating our business on a larger scale
could will result in substantial
increases in our expenses.
We rely on a small number of persons to carry
out our business and
investment strategies. An Executive Search Committee haswill beenbe established to evaluate and propose qualified executive
candidates for approval
by the Board of Directors. Any member of our senior management may cease to provide services to us at any time.
The loss of the services
of any of our key management personnel, or our inability to recruit and retain qualified personnel in the future,
could have an adverse
effect on our business and financial results. As we expand, we will continue to need to attract and retain qualified
additional senior
management but may not be able to do so on acceptable terms or at all. Cuentas does not yet have but intends to have
key man life insurance
policies in place.
We operate in an ever-evolving and complex legal
and regulatory environment. We, the products and services that we offer and market, and those for which we provide processing services,
are subject to a variety of federal, state and foreign laws and regulations, including, but not limited to: federal communications laws
and regulations; foreign jurisdiction communications laws and regulations; federal anti-money laundering laws and regulations, including
the USA PATRIOT Act (the “Patriot Act”), the Bank Secrecy Act (the “BSA”), anti-terrorist financing laws and
anti-bribery and corrupt practice laws and regulations in the U.S., and similar international laws and regulations, including the Proceeds
of Crime (Money Laundering) and Terrorist Financing Act in Canada; state unclaimed property laws and money transmitter or similar licensing
requirements; federal and state consumer
protection laws, including the Credit Card Accountability, Responsibility and Disclosure Act
of 2009 (the “CARD Act”), and the Durbin Amendment to Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the
“Dodd-Frank Act”), and regulations relating to privacy and data security; and foreign jurisdiction payment services industry
regulations.security. We believe that we are currently operating in compliance
with all applicable laws and regulations, but there is no certainty
that laws and regulations affecting our business will not change.
Any such change of laws and regulations applicable to our business
might adversely affect our ability to execute our business plan and
achieve profitable operating results.
We are subject to Anti-Money Laundering
Regulation.
We are subject to a comprehensive federal anti-money
laundering regulatory regime that is constantly evolving. The anti-money laundering regulations to which we are subject include the BSA,
as amended by the Patriot Act, which criminalizes the financing of terrorism and enhances existing BSA regimes through: (a) expanding
AML program requirements to certain delineated financial institutions; (b) strengthening customer identification procedures; (c) prohibiting
financial institutions from engaging in business with foreign shell banks; (d) requiring financial institutions to have due diligence
procedures and, where appropriate, enhanced due diligence procedures for foreign correspondent and private banking accounts; and (e)
improving information sharing between financial institutions and the U.S. government. Pursuant to the BSA, we have instituted a Customer
Identification Program, (CIP). The CIP is incorporated into our BSA/anti-money laundering compliance program. We are increasingly facing
more stringent anti-money laundering rules and regulations, compliance with which may increase our costs of operation, decrease our operating
revenues and disrupt our business” for additional information. Cuentas is or may become subject to reporting and recordkeeping
requirements related to anti-money laundering compliance obligations arising under the Patriot Act and its implementing regulations.
In addition, provisions of the BSA enacted by the Prepaid Access Rule issued by the Financial Crimes Enforcement Network (“FinCEN”),
impose certain obligations, such as registration and collection of consumer information, on “providers” of certain prepaid
access programs, including the prepaid products issued by Cuentas and our issuing banks for which we serve as program manager. In order
to qualify for certain exclusions under the Prepaid Access Rule, some of our content providers were required to modify operational elements
of their products, such as limiting the amount that can be loaded onto a card in any one day. In addition, pursuant to the Prepaid Access
Rule, Cuentas and some of our retail distribution partners have adopted policies and procedures to prevent the sale of more than $10,000
in prepaid access (including closed loop and open loop products that fall under the monetary thresholds outlined above) to any one person
during any one day.
We are subject to Federal Regulation.
At the federal level, Congress and federal regulatory
agencies have enacted and implemented new laws and regulations that affect the prepaid industry, such the CARD Act and FinCEN’s
Prepaid Access Rule. Moreover, there are currently proposals before Congress that could further substantially change the way banks, including
prepaid card issuing banks and other financial services companies, are regulated and are permitted to offer their products to consumers.
Non-bank financial services companies, including money transmitters and prepaid access providers, are now regulated at the federal level
by the Consumer Financial Protection Bureau (the “CFPB”), which began operations in July 2011, bringing additional uncertainty
to the regulatory system and its impact on our business. We are increasingly facing more stringent anti-money laundering rules and regulations,
compliance with which may increase our costs of operation, decrease our operating revenues and disrupt our business. Abuse of our prepaid
products for purposes of financing sanctioned countries, terrorist funding, bribery or corruption could cause reputational or other harm
that could have a material adverse effect on our business, results of operations and financial condition. Failure to comply with, or
further expansion of, consumer protection regulations could have a material adverse effect on our business, results of operations and
financial condition. Failure by us to comply with federal banking regulation may subject us to fines and penalties and our relationships
with our issuing banks may be harmed.
We are subject to Money Transmitter Licenses
or Permits.
Most states regulate the business of sellers
of traveler’s checks, money orders, drafts and other monetary instruments, which we refer to collectively as money transmitters.
While many states expressly exempt banks and their agents from regulation as money transmitters, others purport to regulate the money
transmittal businesses of bank agents or do not extend exemptions to non-branch bank agents. In those states where we are required to
be licensed, we are subject to direct supervision and regulation by the relevant state banking departments or similar agencies charged
with enforcement of the money transmitter statutes and must comply with various restrictions and requirements, such as those related
to the maintenance of certain levels of net worth, surety bonding, selection and oversight of our authorized delegates, permissible investments
in an amount equal to our outstanding payment obligations with respect to some of the products subject to licensure, recordkeeping and
reporting, and disclosures to consumers. We are also subject to periodic examinations by the relevant licensing authorities, which may
include reviews of our compliance practices, policies and procedures, financial position and related records, various agreements that
we have with our issuing banks, retail distribution partners and other third parties, privacy and data security policies and procedures,
and other matters related to our business. As a regulated entity, Cuentas may incur significant costs associated with regulatory compliance.
We anticipate that compliance costs and requirements will increase in the future for our regulated subsidiaries and that additional subsidiaries
will need to become subject to these or new regulations. If we fail to maintain our existing money transmitter licenses or permits, or
fail to obtain new licenses or permits in a timely manner, our business, results of operations and financial condition could be materially
and adversely affected.
In the ordinary course of our business, we collect
and store or may collect and store personally identifiable information about customers, holders of our cards, subscribers, and users.
This information may include names, addresses, email addresses, social security numbers, driver’s license numbers and account numbers.
We also maintain or may maintain a database of cardholder data for our proprietary cards relating to specific transactions, including
account numbers, in order to process transactions and prevent fraud. These activities subject us to certain privacy and information security
laws, regulations and rules in the United States, including, for example, the privacy provisions of the Gramm-Leach-Bliley Act and its
implementing regulations, various other federal and state privacy and information security statutes and regulations, and the Payment
Card Industry Data Security Standard.regulations. These federal and
state laws, as well as our agreements with our issuing banks,providers, contain restrictions
relating to the collection, processing, storage, disposal,
use and disclosure of personal information, and require that we have in place
policies regarding information privacy and security. We
have in effect a privacy policy relating to personal information provided to
us in connection with requests for information or services,
and we continue to work with our issuing bankssuppliers and other third parties to
update policies and programs and adapt our business practices in
order to comply with applicable privacy laws and regulations. Certain
state laws also require us to notify affected individuals of certain
kinds of security breaches of computer databases that contain their
personal information. These laws may also require us to notify state
law enforcement, regulators or consumer reporting agencies in the
event of a data breach. Failure to comply with, or further expansion
of, consumer protection regulations could have a material adverse
effect on our business, results of operations and financial condition.
A data security breach could expose us to liability and protracted
and costly litigation, and could adversely affect our reputation and
operating revenues.
We were subject to Card Association and
Network Organization Rules.
In addition to the federal, state, local, and
foreign jurisdiction laws and regulations discussed above, we, Cuentas and our issuing banks, were also subject to card association and
debit network rules and standards. The operating rules govern a variety of areas, including how consumers and merchants may use their
cards and data security. Each card association and network organization audits us from time to time to ensure our compliance with these
standards. Noncompliance with these rules or standards due to our acts or omissions or the acts or omissions of businesses that work
with us could result in fines and penalties or the termination of the card association registrations held by us or any of our issuing
banks. Changes in card association rules or standards set by Visa or Vanilla Reload, or changes in card association and debit network
fees or products or interchange rates, could materially and adversely affect our business, financial condition and results of operations.
Our MVNO operators, including Cuentas Mobile and World Mobile, earn revenues by purchasing network capacity from other network operators and reselling it to end users. Cuentas Mobile services operate on the largest 5G nationwide network from one of the top 3 mobile carriers and is dependent on the performance of its underlying provider and its network.
World Mobile Media Group LLC may be unable to attract and retain talent or content providers.
World Mobile Media Group LLC executives have extensive experience in the entertainment world. If World Mobile Media Group LLC cannot attract or retain talent or content providers, it will significantly adversely affect Cuentas’ operating results, revenues, financial condition, and ability to remain in business.
Criminals, including, without limitation, cyber-organized
criminal syndicates, and others, use increasingly sophisticated methods to engage in illegal activities involving prepaid cards,calling services,
reload
telecom products, and customer information. Cuentas relies on third parties for certain transaction processing services, which
subjects Cuentas
and its customers to risks related to the vulnerabilities of these third parties, as well as Cuentas’ own vulnerabilities
to criminals
engaged in fraudulent activities. Fraudulent activity could result in the imposition of regulatory sanctions, including significant
monetary monetary
fines, which could adversely affect Cuentas’ business, operating results, and financial condition.
The market price of our Common Stock and
Warrants may be highly volatile, and you
could lose all or part of your investment.
The market price of our Common Stock may be highly volatile and thinly traded, and you could lose all or part of your investment.
The market for our Common Stock is characterized by low trading volumes and significant price swings, and our shares are considered thinly traded on the OTC market. Even with limited daily volume, our stock price has experienced substantial percentage changes over short periods, which means that relatively small trades can result in disproportionate price movements and heightened volatility compared to the broader market. This volatility and limited liquidity may prevent you from being able to sell your shares at or above the price you paid, or at the time you wish to sell.
The trading price of our Common Stock and Warrants
is likely to be volatile. This volatility may prevent you from being able to sell your securities at or above the price you paid for
your securities. Our stock price could be subject to wide fluctuations in response to a variety of factors, which include:
The SEC has adopted rules that regulate broker-dealer
practices in connection with transactions in penny stocks. Penny stocks are generally equity securities with a price of less than $5.00,
other than securities registered on certain national securities exchanges or authorized for quotation on certain automated quotation systems,
systems, provided that current price and volume information with respect to transactions in such securities is provided by the exchange
or system.
As long as the price of our Common Stock is less than $5.00, our Common Stock will be deemed a penny stock. The penny stock
rules require
a broker-dealer, before a transaction in a penny stock not otherwise exempt from those rules, to deliver a standardized
risk disclosure
document containing specified information. In addition, the penny stock rules require that before effecting any transaction
in a penny
stock not otherwise exempt from those rules, a broker-dealer must make a special written determination that the penny stock
is a suitable
investment for the purchaser and receive (i) the purchaser’s written acknowledgment of the receipt of a risk disclosure
statement;
(ii) a written agreement to transactions involving penny stocks; and (iii) a signed and dated copy of a written suitability statement.
statement. These disclosure requirements may have the effect of reducing the trading activity in the secondary market for our Common
Stock, and therefore
shareholders may have difficulty selling their shares.
Management's Discussion & Analysis (MD&A)
New heading “World Mobile Group Ltd. Financings”
New heading “Michael De Prado Separation Agreement”
New heading “Insider and Advisor Convertible Notes”
Removed heading “Other Income (Expenses)”
Removed heading “Subsequent Events (through October 21, 2025)”
Largest changes
“Other income (expenses) totaled an expenses of $1,316,000 during the year ended December 31, 2024. …”see in full comparison
“On September 18, 2025, the Company and Michael De Prado (then President, Executive Vice Chairman and Chief Financial Officer of the Company) entered into a Confidential Separation Agreement and related financing documents pursuant to which the Company agreed to pay Mr. De Prado $110,000 in cash and issue two secured promissory notes to Mr. …”see in full comparison
On September 18, 2025, the Company and Michael De Pradosee in full comparisonexecuted(then President, Executive Vice Chairman and Chief Financial Officer of the Company) entered into a Confidential Separation Agreement and related financingdocuments.documentsThepursuant to which the Company agreed to pay Mr. De Prado $110,000 in cash andissuedissue two secured promissory notes to Mr. De Prado: (i) a $473,000 note bearing interest at 2.0% per annum, maturing upon the earlier of a qualified financing of at least $2,000,000 or one year from the date of issuance (18% default interest), with the holder’s right to convert up to 50% into common stock at $0.42 per share and grants the holder piggyback registration rights with respect to the shares issuable upon conversion; and (ii) a $200,000 note maturing one year from the date of issuance, with the holder’s option at maturity to require either full cash payment or transfer, via certificate of sale, of all non-telecom/MVNO assets comprising the Company’s Fintechdivisiondivision.(noThe $200,000cashnoteinterest unlessdoesinnotdefault;bear8%interest, except for default interest).at the rate of 8% per annum. Each note is secured by a first-priority security interest in the Company’s Fintech (non-MVNO) assets under separate security agreements. These agreements were fully consummated on October 21, 2025 upon release of escrowed deliverables by the escrow agent.
To date, we have principally financed our operations through the sale of our Common Stock. Nevertheless, management anticipates that our current cash and cash equivalents position and generating revenue from the sales of our mobile phone services and digital products will provide us limited financial resources for the near future to continue implementing our business strategy of further developing our mobile services and digital products, enhance our digital products offeringsee in full comparisonofferingand increase our sales and marketing. Management has taken important steps to reduce the financial burn rate and has curtailed some ineffective marketing programs, concentrating on those programs that have been proven to produce good results. Reduction of some top-level personnel has brought savings to the company as current executives took over the vacant positions at no additional cost to the Company but offset by the bonuses. Management plans to secure additional financing sources, including but not limited to the sale of our Common Stock in future financings. There can be no assurance, however, that the Company will be successful in raising additional capital or that the Company will have net income from operations to fund its business plan for the near future or long term. As of December 31,2024,2025, the Company had approximately$15,000$57,000 in cash and cash equivalents, approximately$3,170,000$4,069,000 in negative working capital and an accumulated deficit of approximately$58,255,000. These conditions raise substantial doubt about the Company’s ability to continue as a going concern as of December 31, 2024.$59,826,000.
Full comparison: every changed paragraph (33)
The Company was incorporated under the laws of
the State of Florida on September 21, 2005 to act as an operational company and as a holding company for its subsidiaries. Its wholly-owned
subsidiary
is Meimoun and Mammon, LLC (100% owned) (“M&M”) that provides wholesale telecommunications services. The Company
also owns 51% of World Mobile LLC, which operates in the Mobile Telecommunications market and 51% of World Mobile Media Group LLC, which
operates in the Entertainment Media Distribution market. The Company also own
owns 50% of CUENTASMAX LLC, which installs WiFi6 shared network
(“WSN”) systems in locations in the New York metropolitan
tristate area using access points and small cells to provide
users with access to the WSN. WSN equipment was installed in several sites
and financial viability is being studied. Results from these
test sites will determine if future installations will be completed. Additionally,
Cuentas is evaluating the synergy between CuentasMAX
and World Mobile’s platform for potential integration and further development
or enhancement of platforms.
The Company is currently focusing its business
mainly on
Cuentas Mobile, the Company’s Cellular Telecommunications solution.solution as well as World Mobile LLC and World Mobile Media
Group LLC to coordinate a multi-dimensional service for telecom, data, streaming and entertainment content.
On August 12 2024, the Company
and InComm mutually agreed to sunset the processing agreement that supported the Cuentas Prepaid Mastercard® program. In connection
with the wind-down, InComm issued a $475,000 credit to Cuentas in full and final settlement of all obligations under the processing
agreement. The Company recognized the credit as other income in the third quarter of 2024. No further liabilities remain outstanding,
and all prepaid card accounts were deactivated on or before that date.
Since the first quarter of 2023, we have made
equity investments in
real estate projects in Florida under the name Cuentas Casa. Cuentas Casa partnerspartnered with leading edge developers
and construction technology
companies to create sustainable, inclusive and affordable residential communities specifically designed to
provide high quality housing
alternatives at extremely competitive pricing. Our goal was to source land zoned and ready for development
of multi-family buildings in
strategic areas where rental prices are increasing dramatically, placing financial stress and pressure on
working class families. Our
real estate investments were intended to broaden our reach into the unbanked, underbanked and underserved
communities by using a patented,
low cost, sustainable technology that should allow us to provide reasonably priced rental apartments
to working class residents who have
been priced out of rental communities due to severe rent hikes in Florida and other areas in the
United States. We believed that providing
affordable apartments to the Hispanic Latino and other immigrant communities in Florida will
enable us to introduce them our fintech solutions
and generate revenue. Due to liquidity issues impeding the operation and development
of its core mobile fintech and carrier services,
on April 3, 2024, the limited liability company in which Cuentas had a 63.9% equity
interest (“Brooksville Development Partners,
LLC” or “BDP”), entered into an agreement to sell the vacant land
located in Brooksville, Florida (the “Brooksville
Property”) The Brooksville Property was originally purchased by BDP on
April 28, 2023 for $5.05 million, $2 million of which was
contributed by Cuentas. On May 27, 2025, Cuentas sold its 63.9% equity interest
in the Brooksville Property for $800,000 to Brooksville
FL Partners, LLC (the “Buyer”), an existing minority member of BDP.
The funds were distributed by a mutually agreed escrow
agent, and Cuentas settled debts with 4 major creditors. The remaining funds were
used for operating expenses. With these funds, the Company
was able to settle debts totaling approx.approximately $1.132M with 4four major creditors for
final actual cost of $666,356 Subsequent developments.$666,356.
On September 18, 2025, the Company and Michael
De Prado executed(then President, Executive Vice Chairman and Chief Financial Officer of the Company) entered into a
Confidential Separation Agreement
and related financing documents.documents Thepursuant to which the Company agreed to pay Mr. De Prado $110,000 in cash and issuedissue two secured promissory
notes to Mr. De Prado: (i) a $473,000 note bearing interest at 2.0% per annum, maturing upon the earlier of a qualified financing of at
least $2,000,000
or one year from the date of issuance (18% default interest), with the holder’s right to convert up to 50% into
common stock at $0.42 per share and grants the holder piggyback registration rights with respect to the shares issuable upon conversion;
and (ii) a $200,000 note maturing one year from the date of issuance, with the holder’s option at maturity to require either full
cash payment
or transfer, via certificate of sale, of all non-telecom/MVNO assets comprising the Company’s Fintech divisiondivision. (noThe
$200,000 cashnote interest
unlessdoes innot default;bear 8%interest, except for default interest). at the rate of 8% per annum. Each note is secured by a first-priority
security interest in the Company’s Fintech (non-MVNO)
assets under separate security agreements. These agreements were fully consummated
on October 21, 2025 upon release of escrowed deliverables
by the escrow agent.
Also onOn September 18, 2025, the Company enteredalso intogranted
Mr. De Prado a 16-month license
with Mr. De Prado grantingto use and access to the Fintech assets (asexcluding detailed in Schedule A);the MVNO assets are excluded.). The Fintech assets
are being held in
escrow by AM Law pending the holder’s exerciseconversion of the Note$200,000 Twonote. option.These agreements were fully consummated on October 21, 2025
upon escrow release.
On October 17, 2025, the Company issued
three three
additional unsecured convertible promissory notes: (i) to Shalom Arik Maimon (CEO) for $586,087.62; (ii) to Matthew Schulman for
$112,900.11;
and (iii) to AM Law for $308,000. Each bears interest at 2% per annum (default interest as provided in the notes), is convertible
at the
holder’s option at $0.42 per share, and includes piggyback registration rights. After issuance, Mr. Maimon instructed conversion
of 50% of his note ($293,043.81) into 697,723 shares, and AM Law instructed conversion of 50% of its note ($154,000) into 366,666 shares,
in each case at $0.42 per share.
On February 25, 2026, World Mobile Group Ltd. (“WMG”) converted promissory notes of Cuentas, Inc. (the “Company”) in the principal amount of $260,000 into 1,277,018 shares of the Company’s common stock, representing approximately 18.5% of the Company’s outstanding shares of common stock On February 26, 2026, the Company entered into a Securities Purchase Agreement with P.W. Janssen (“Janssen”), pursuant to which the Company issued and sold to Janssen 714,286 share of the Company’s common stock (the “Shares”), and a five-year warrant to purchase up to 714,286 additional shares of common stock (the “Warrant”) , for aggregate gross proceeds of $300,000 ($0.42 per unit). The exercise price of the Warrant is $0.42 per share, subject to anti-dilution adjustments. The Company granted Janssen piggyback registration rights with respect to the resale of the shares issued and issuable pursuant to the Securities Purchase Agreement.
The Company generates revenues through the
sale sale
and distribution of Digital products, General Purpose Reloadable Cards, wholesale telecommunication services and other related telecom
services. Revenues during
the year ended December 31, 2024,2025, totaled $676,000$0 compared to $2,346,000$676 for the year ended December 31, 2023.
2024. The decrease in our revenues was
mainly from decrease in wholesale telecommunication services in the amount of $1,612,000,from$676, from our Bilateral
Wholesale Carrier Agreement
with Next Communications INC., a company controlled by Arik Maimon our Chairman of the Board and our CEO.
Cost of revenue also consists of costs related
to the sale of the Company’s digital products and GPR Cards in the amount of $133,000$0 during the year ended December 31, 20242025 and
$210,000 $81,000 during the
year ended December 31, 2023.2024. The costs related to the sale of the Company’s digital products and GPR Cards
were composed mainly from the cost
of the Digital products.
Gross
profit margin for the year ended December
31, 20242025 was negative for both the telecommunications segment and the digital product and general
purpose reloadable cards segmentsegments but slightly positive for wholesale which
by its nature has a tiny markup. The gross loss for the sale
of digital product and general-purpose reloadable cards stemmed from ceasing
all activities with Cuentas SDI LLC. In May 2024, the Company
and Cuentas-SDI settled certain payment issues and renewed discussions and
cooperation to re-open the digital distribution network and
systems through Cuentas-SDI’s convenience store distribution network
of over 31,000 locations, including many across the New York,
New Jersey and Connecticut tri state area.
Selling, general and administrative expenses totaled $1,894,000 during the year ended December 31, 2025, a net decrease of $5,000, compared to $1,899,000 during the year ended December 31, 2024.
Update Selling, general and administrative expenses
totaled $1,899,000 during the year ended December 31, 2024, a net decrease of $4,123,000, or 68% compared to $6,022,000 during the year
ended December 31, 2023. The decrease in our Selling, general and administrative expenses during the year ended December 31, 2024 compare
to the year ended December 31, 2023, is primarily attributable to the decrease in the amount of $413,000 in Share-based compensation and
shares issued for services expenses attributable to the decrease in the amount of our vested option in 2024 as opposed to 2023 partially
mitigated by an increase in the number of shares that were issued for services and settlement, decrease in the amount of $120,000 in maintenance
and support services that were provided by CIMA, decrease in the agreed payments in accordance with the processing service agreement with
Incomm in the amount of $250,000 a decrease in selling and marketing expenses of $351,000 since the Company reduced significantly its
selling and marketing campaigns in 2024 due to its ineffectiveness and lack of resources.
Other Income (Expenses)
Other income (expenses) totaled an expenses
of $1,316,000 during the year ended December 31, 2024. Other income (expenses) are mainly comprised of Loss on impairment of held for
sale investment in unconsolidated entities in amount of $1,216,000, loss on impairment of investment in unconsolidated entity of $700,000
and Loss upon default to pay principal and interest of Promissory Notes in amount of $419,000, partially offset by Gain from Change in
fair value of derivative warrants liability issued as part of our February 2023 and August 2023 security offering in amount of $695,000
and gain from settlement of liabilities, net of $507,000.
Other income (expenses) totaled an income
of $4,300,000 during the year ended December 31, 2023. Other income (expenses) are mainly comprised of Gain from Change in fair value
of derivative warrants liability issued as part of our February 2023 and August 2023 security offering as detailed in note 10 of the
December 31, 2023 financial statements in amount of $4,741,000, partially offset by impairment loss of $441,000 which resulted from a
decrease in cost of an investment in Cuentas SDI LLC.
As of December 31, 2024,2025, the Company had total
current assets of $1,111,000,
$841,000, including $15,000$57,000_ of cash, accounts receivables of $271,000, Investmentand inrelated unconsolidatedparties entities held for salereceivables of $800,000. $513,000.
As of December
31, 2024,2025, the Company had total current liabilities of $4,349,000$4,910,000 creating a negative working capital of $3,193,000.$4,069,000.
As of December 31, 2023,2024, the Company had total
current assets of $1,760,000,$1,111,000, including $205,000$15,000 of cash, accounts receivables of $1,307,000,$271,000, related partiesInvestment in theunconsolidated amountentities held
for sale of $172,000
and other current assets of $76,000.$800,000. As of December 31, 2023,2024, the Company had total current liabilities of $ 4,689,000$4.281,000 creating
a negative working capital
of $2,929,000.$3,170,000.
The Company’s operating activities for the
year ended December 31, 2025, resulted in net cash used of $1,371,000. Net cash used in operating activities consisted of a net loss of
$1,571,000, The Company’s operating activities for the year ended December
31, 2024, resulted in net cash used of $598,000. Net cash used in operating activities consisted of a net loss of
$3,309,000 partially
offset by non-cash expenses consisting of share-based compensation of $209,000, impairment of intangible assets and
property and equipment
of $30,000 and amortization of intangible assets of $2,000. a Decrease in accounts receivables of $1,036,000, increase
in accounts payables
of 625,000, decrease in other accounts liabilities of 739,000, impairment of an investment in an unconsolidated entity
of $1,916,000, The Company’s operating activities for
the year ended December 31, 2023, resulted in net cash used of $4,193,000. Net cash used in operating activities consisted of a net loss
of $2,196,000 and change in fair value of derivative warrants liability of $6,852,000, partially offset by non-cash expenses consisting
of Issuance expenses and a day-one loss on derivative warrants liability of $3,127,000, share-based compensation of $622,000, and amortization
of intangible assets of $11,000. Changes in operating assets and liabilities provided cash of $529,000, resulting mainly from a decrease
in other accounts payables of $1,548,000 and increase in accounts payables offset by an increase of in related parties accounts receivables
of $1,102,000 and an increase in other current assets of $87,000.
The Company’s investment activities for
the year ended December
31, 2024,2025, resulted in net cash received of $92,000$825,000 and net cash used of $2,098,000$92,000 for the same period in 2023. The decrease was mainly
due to the sale of Cuentas’ 19.99% participation in Cuentas SDI LLC.2024.
The Company’s financing activities for the
year ended December 31, 2024,2025, resulted in net cash in the amount of $316,000 mainly from Short term loans received.$588,000.
To date, we have principally financed our operations
through the sale
of our Common Stock. Nevertheless, management anticipates that our current cash and cash equivalents position and generating
revenue from
the sales of our mobile phone services and digital products will provide us limited financial resources for the near future
to continue
implementing our business strategy of further developing our mobile services and digital products, enhance our digital products
offering offering
and increase our sales and marketing. Management has taken important steps to reduce the financial burn rate and has curtailed
some ineffective
marketing programs, concentrating on those programs that have been proven to produce good results. Reduction of some
top-level personnel
has brought savings to the company as current executives took over the vacant positions at no additional cost to the
Company but offset
by the bonuses. Management plans to secure additional financing sources, including but not limited to the sale of our
Common Stock in
future financings. There can be no assurance, however, that the Company will be successful in raising additional capital
or that the Company
will have net income from operations to fund its business plan for the near future or long term. As of December 31, 2024,
2025, the Company
had approximately $15,000$57,000 in cash and cash equivalents, approximately $3,170,000$4,069,000 in negative working capital and an
accumulated deficit
of approximately $58,255,000. These conditions raise substantial doubt about the Company’s ability to continue as a going concern
as of December 31, 2024.$59,826,000.
On January 29, 2026, the Company entered into an Amended and Restated Warrant Agency Agreement (the “A/R Warrant Agency Agreement”) to that certain Warrant Agency Agreement, dated as of February 1, 2021 between the Company and Olde Monmouth Stock Transfer Co., Inc., as Warrant Agent (the “Original Warrant Agreement”), pursuant to which the expiration date of the Company’s outstanding publicly traded 1,757,801 warrants (the “Warrants”) to purchase shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), was extended from February 4, 2026 to June 30, 2026 (the “Extended Expiration Date”). At and after the Extended Expiration Date, the Warrants may no longer be exercised. The A/R Warrant Agreement also allows the Board of Directors of the Company in its discretion to voluntarily reduce the exercise price of the Warrants and proportionately increase the number of shares of Common Stock purchasable upon exercise of the Warrants at the reduced exercise price. Other than as set forth above, the terms of the Warrants set forth in the A/R Warrant Agreement remain unmodified and in full force and effect.
World Mobile Group Ltd. Financings
Subsequent Events (through October 21, 2025)
World Mobile Financings (September 22 and October 1, 2025). On September
22, 2025 and October 1, 2025, wethe Company entered into two
Convertible Note Purchase Agreements with World Mobile Group Ltd. for an aggregate
principal amount of $385,000 (the “WM Notes”)—$260,000
on September 22 and $125,000 on October 1. The WM Notes are
convertible into our common stock pursuant to their terms. Closings occurred
on the respective agreement dates. The September 22 agreement
provides the investor the right to designate one director while the investor
and its affiliates beneficially own at least five percent
of the Company and includes certain protective approval rights tied to note
covenants and event-of-default actions. We applied part of
the proceeds to pay $110,000 to Michael De Prado in connection with his separation
and to fund professional fees to bring SEC reporting
current; the October 1 agreement provides that proceeds will be applied to the PLUM
contract, our MVNO reseller arrangement. On February 25, 2026, World Mobile Group Ltd. (“WMG”) converted promissory notes
of Cuentas, Inc. (the “Company”) in the principal amount of $260,000 into 1,277,018 shares of the Company’s common stock,
representing approximately 18.5% of the Company’s outstanding shares of common stock
Michael De Prado Separation Agreement
On September 18, 2025, the Company and Michael De Prado (then President, Executive Vice Chairman and Chief Financial Officer of the Company) entered into a Confidential Separation Agreement and related financing documents pursuant to which the Company agreed to pay Mr. De Prado $110,000 in cash and issue two secured promissory notes to Mr. De Prado: (i) a $473,000 note bearing interest at 2.0% per annum, maturing upon the earlier of a qualified financing of at least $2,000,000 or one year from the date of issuance (18% default interest), with the holder’s right to convert up to 50% into common stock at $0.42 per share and grants the holder piggyback registration rights with respect to the shares issuable upon conversion; and (ii) a $200,000 note maturing one year from the date of issuance, with the holder’s option at maturity to require either full cash payment or transfer, via certificate of sale, of all non-telecom/MVNO assets comprising the Company’s Fintech division. The $200,000 note does not bear interest, except for default interest at the rate of 8% per annum. Each note is secured by a first-priority security interest in the Company’s Fintech (non-MVNO) assets under separate security agreements. These agreements were fully consummated on October 21, 2025 upon release of escrowed deliverables by the escrow agent.
The promissory notes includes bonuses approved subsequent to the balance sheet date totaling approximately $170 thousand, which are expected to be recognized as an expense in the second quarter of 2026.
On September 18, 2025, the Company also granted Mr. De Prado a 16-month license to use and access the Fintech assets (excluding the MVNO assets). The Fintech assets are being held in escrow by AM Law pending the holder’s conversion of the $200,000 note. These agreements were fully consummated on October 21, 2025 upon escrow release.
Insider and Advisor Convertible Notes
Michael De Prado separation; secured notes; license (September 18,
2025; consummated October 21, 2025). On September 18, 2025, we executed a Confidential Separation Agreement with Michael De Prado (then
President, Executive Vice Chairman and Chief Financial Officer) under which we agreed to pay $110,000 in cash and issued two secured
promissory notes: Note One in the principal amount of $473,000 and Note Two in the principal amount of $200,000. Each note is secured
by a first-priority security interest in our Fintech (non-MVNO) assets under separate security agreements. Also on September 18, 2025,
we granted Mr. De Prado a 16-month license to use and access the Fintech assets (as described in Schedule A), with the assets held in
escrow by AM Law until the Note Two option is exercised. MVNO assets are expressly excluded. These agreements were fully consummated
on October 21, 2025 upon escrow release. Note One is voluntarily convertible at $0.42 per share and includes piggyback registration rights.
Insider and advisor convertible notes (October
17, 2025). On October 17, 2025, we issued three unsecured
convertible promissory notes: (i) a note to Shalom Arik Maimon (CEO) in the
principal amount of $586,087.62; (ii) a note to Matthew Schulman
in the principal amount of $112,900.11; and (iii) a note to AM Law in the principal
amount of $154,000. Each note is voluntarily convertible
at the holder’s option into common stock at a fixed price of $0.42 per
share and provides piggyback registration rights.
What changed in the latest 10-Q
Risk Factors
Reference is made to the risks and uncertainties disclosed in Item 1A (“Risk Factors”) of our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”). Prospective investors are encouraged to consider the risks described in our 2025 Form 10-K, our Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in this Report and other information publicly disclosed or contained in reports and other documents we file with the Securities and Exchange Commission before purchasing our securities.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
New heading “Comparison of the three months ended June 30, 2026 to the three months ended June 30, 2025”
New heading “Operating Expenses”
New heading “Selling, General and Administrative Expenses”
New heading “Other Income (Expenses)”
Largest changes
“Comparison of the three months ended June 30, 2026 to the three months ended June 30, 2025”see in full comparison
“Other income totaled $698,000 during the three months ended June 30, 2025. Other income is comprised mostly of income upon extinguishment of debt net of default expenses to pay principal and interest.”see in full comparison
“Other income totaled $582,000 during the six months ended June 30, 2025. Other income is comprised mostly of income upon extinguishment of debt net of default expenses to pay principal and interest.”see in full comparison
Full comparison: every changed paragraph (28)
The Company notes that in addition to the description
of historical facts contained herein, this report contains certain forward-looking statements that involve risks and uncertainties as
detailed herein and from time to time in the Company’s other filings with the Securities and Exchange Commission and elsewhere.
Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties, which could
cause actual results to differ materially from those,those described in the forward-looking statements. These factors include, among others:
(a) the Company’s fluctuations in sales and operating results; (b) regulatory, competitive and contractual risks; (c) development
risks; (d) the ability to achieve strategic initiatives, including but not limited to the ability to achieve sales growth across the business
segments through a combination of enhanced sales force, new products, and customer service; and (e) pending litigation.
The Company was incorporated under the laws of
the State of Florida on September 21, 2005 to act as an operational company and as a holding company for its subsidiaries. Its wholly-owned
subsidiary is Meimoun and Mammon, LLC (100% owned) (“M&M”) which provides wholesale and retail telecommunications services.
The Company also ownowns 50% of CUENTASMAX LLC, which installs WiFi6 shared network (“WSN”) systems in locations in the New York metropolitan
tristate area using access points and small cells to provide users with access to the WSN.TheWSN. The Company is focusing its business mainly
on developing internal and vertical markets for Cuentas Mobile, the Company’s Cellular Telecommunications solution.
World Mobile LLC is the Company’s majority-owned
joint venture with World Mobile Group formed to operate the Company’s MVNO business. Through the JV, the Company now holds a 51%
membership interest and consolidates the entity for financial reporting purposes. The JV Company’s operating platform includes a
range of infrastructure assets, such as licensed U.S. spectrum holdings, nationwide roaming agreements, a distributed AirNode network,
and core network infrastructure that supports mobile connectivity across U.S. markets. World Mobile LLC operates in active commercial
environments with real usag,usage, an established market presence, and adherence to applicable regulatory requirements. Its infrastructure model
is designed to scale as additional markets are launched, customer usage increases, and new network assets are deployed.
The 2020 U.S. Census showed the Hispanic Latino
population at over 62 million and at 18.7% of the total U.S. population. The FDIC defines the “unbanked” “as those adults
without an account at a bank or other financial institution and are considered to be outside the mainstream for one reason or another.
The Company believes that the Hispanic and Latino demographic generally have had more identification, credit, and former bank account
issues than any other U.S. minority group leading to more difficulty in obtaining a traditional bank account.
Comparison of the ninesix months ended March
31,June 30, 2026 to the ninesix months ended MarchJune 31,30, 2025
Operating expenses consist of selling, general
and administrative Expensesexpenses and totaled $333,000$1,136,000 during the threesix months ended MarchJune 31,30, 2026, compared to $283,000$603,000 during the threesix months
ended MarchJune 31,30, 2025 representing a net increase of $50,000.2025.
Other expenses totaled $116,000 during the six months ended June 30, 2026, comprised of interest expenses, net of $31,000 and a loss from the change in fair value of the derivative warrants liability of $85,000.
Other income totaled $582,000 during the six months ended June 30, 2025. Other income is comprised mostly of income upon extinguishment of debt net of default expenses to pay principal and interest.
Other expenses totaled $95,000 during the
three months ended March 31, 2026. Other expenses are comprised of loss from change in fair value of derivative warrants liability and
interest Other expenses totaled $116,000 during the
three months ended March 31, 2025. Other expenses are comprised of interest
We incurred a net loss of $467,000$1,385,000 for the three-month
six-month period ended MarchJune 31,30, 2026, as compared to a net loss of $399,000$21,000 for the three-monthsix-month period ended MarchJune 31,30, 20252025. .In addition, the Company recorded its share of equity losses of an unconsolidated entity of $133,000 during the six months ended June 30, 2026.
Comparison of the three months ended June 30, 2026 to the three months ended June 30, 2025
Operating Expenses
Operating expenses consist of selling, general and administrative expenses and totaled $803,000 during the three months ended June 30, 2026, compared to $320,000 during the three months ended June 30, 2025.
Selling, General and Administrative Expenses
Selling, general and administrative expenses totaled $803,000 during the three months ended June 30, 2026, compared to $320,000 during the three months ended June 30, 2025. The components of these expenses for the three-month periods presented are set out in the three-month columns of the table above.
Other Income (Expenses)
Other expenses totaled $21,000 during the three months ended June 30, 2026, comprised of interest expenses, net of $3,000 and a loss from the change in fair value of the derivative warrants liability of $18,000.
Other income totaled $698,000 during the three months ended June 30, 2025. Other income is comprised mostly of income upon extinguishment of debt net of default expenses to pay principal and interest.
Net Loss
We incurred a net loss of $888,000 for the three-month period ended June 30, 2026, as compared to net income of $378,000 for the three-month period ended June 30, 2025. In addition, the Company recorded its share of equity losses of an unconsolidated entity of $64,000 during the three months ended June 30, 2026.
As of MarchJune 31,30, 2026, the Company had total current
assets of $832,000$272,000, including $72$800 of cash, accounts receivables of $271,000, other current assets – related parties of $472,000$0 and
total current liabilities of $4,311,000$4,571,000 creating a working capital deficit of $3,479,000.$4,299,000.
To date, we have principally financed our operations
through the sale of our Common Stock. Nevertheless, management anticipates that our current cash and cash equivalents position and generating
revenue from the sales of our digital products, General-Purpose Reloadable Cards and prepaid cellular phone services will provide us limited
financial resources for the near future to continue implementing our business strategy of further developing our digital products, General
Purpose Reloadable Card, enhance our digital products offering and increase our sales and marketing. Therefore management plans to secure
additional financing sources, including but not limited to the sale of our Common Stock in future financings. This is expected to be used
to further support our operations as described above and to complete the development of its new portal and financial technology capabilities.
There can be no assurance, however, that the company will be successful in raising additional capital or that the company will have net
income from operations to fund the business plan of the company for the near future or long term. As of MarchJune 31,30, 2026, the Company had
approximately $72$800 in cash and cash equivalents, approximately $3,479,000$4,299,000 in negative working capital and an accumulated deficit of approximately
$60,323,000. $61,211,000. These conditions raise substantial doubt about the Company’s ability to continue as a going concern as of MarchJune 31,
30, 2026.
The Company’s operating activities for the
three months ended March 31, 2026, resulted in net cash used of $190,000. Net cash used in operating activities consisted of a net loss
of $497,000, partially offset by non-cash expenses mainly consisting of share-based compensation of $43,000 and changes in operating assets
and liabilities utilized cash of $136,000.
The Company’s operating activities for the threesix months ended
March 31,June 2025,30, 2026, resulted in net cash used of $15,000.$276,000. Net cash used in operating activities consisted of a net loss of $399,000,$1,385,000, partially
offset by non-cash expenses consisting of share-based compensation and shares issued for services of $18,000$47,000, amortization of discounts and accrued interest on loans of $116,000.$31,000, a loss from the change in fair value of the derivative warrants liability of $85,000 and the Company’s share of equity losses of $133,000. Changes in operating
assets and liabilities utilizedprovided cash of $250,000.$813,000.
The Company’s operating activities for the six months ended June 30, 2025, resulted in net cash used of $966,000. Net cash used in operating activities consisted of a net loss of $21,000 and income upon extinguishment of debt of $602,000, partially offset by non-cash expenses consisting of share-based compensation of $37,000 and amortization of discounts and accrued interest on loans of $20,000. Changes in operating assets and liabilities utilized cash of $400,000.
The Company’s financing activities for the
three six months ended MarchJune 31,30, 2026, resulted in net cash received of $205,000, mainly$220,000, consisting of $300,000 received from issuedthe issuance of shares
and $95,000$35,000 of short term loans received, partially offset by the repayment of loans.$115,000 of a loan from a related party. The Company had no investing activities during the six months ended June 30, 2026.
As of MarchJune 31,30, 2026, we had no off-balance sheet
arrangements of any nature.
New pronouncements issued but not effective as
of MarchJune 31,30, 2026, are not expected to have a material impact on the Company’s consolidated financial statements.
CUEN insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 19 Form 4 filings (2 insiders, 39 trade dates, 199,421 shares, about $68.5K) and open-market sales in 1 filing (1 insider, 1 trade date, 100 shares, about $30). Net open-market shares: 199,321 (purchases minus sales); net value about $68.5K.Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
| Trade date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-25 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.64 | $64 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.57 | $57 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.57 | $57 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.57 | $57 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 200 | $0.64 | $128 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.66 | $330 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.64 | $64 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.60 | $60 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.60 | $60 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.62 | $62 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.54 | $162 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.63 | $315 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.63 | $63 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.63 | $63 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 1,500 | $0.63 | $945 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.63 | $63 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.64 | $64 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.65 | $195 |
| 2026-09-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.60 | $60 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 1,200 | $0.55 | $660 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.63 | $189 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.60 | $180 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.54 | $162 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.55 | $275 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.55 | $275 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.55 | $275 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.54 | $270 |
| 2026-09-23 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.54 | $540 |
| 2026-09-18 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.56 | $168 |
| 2026-09-15 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.46 | $46 |
| 2026-09-14 | Maimon Shalom Arik |
Open-market purchase | 200 | $0.37 | $74 |
| 2026-09-14 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.43 | $43 |
| 2026-09-08 | Maimon Shalom Arik |
Open-market purchase | 300 | $0.48 | $144 |
| 2026-09-08 | Maimon Shalom Arik |
Open-market purchase | 200 | $0.45 | $90 |
| 2026-09-04 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.39 | $39 |
| 2026-09-04 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.41 | $41 |
| 2026-09-04 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.41 | $41 |
| 2026-09-04 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.55 | $550 |
| 2026-09-04 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.53 | $530 |
| 2026-08-10 | Maimon Shalom Arik |
Open-market purchase | 1,400 | $0.64 | $896 |
| 2026-08-10 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.62 | $310 |
| 2026-08-10 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.62 | $310 |
| 2026-08-10 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.62 | $310 |
| 2026-08-10 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.64 | $320 |
| 2026-08-10 | Maimon Shalom Arik |
Open-market purchase | 600 | $0.70 | $420 |
| 2026-07-31 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.60 | $300 |
| 2026-07-31 | Maimon Shalom Arik |
Open-market purchase | 500 | $0.50 | $250 |
| 2026-07-31 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.55 | $550 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.68 | $680 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 10 | $0.58 | $6 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.64 | $64 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 490 | $0.50 | $245 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 700 | $0.53 | $371 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.53 | $530 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 1,000 | $0.55 | $550 |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 1,900 | $0.70 | $1.3K |
| 2026-07-27 | Maimon Shalom Arik |
Open-market purchase | 3,800 | $0.55 | $2.1K |
| 2026-07-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.43 | $43 |
| 2026-07-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.49 | $49 |
| 2026-07-24 | Maimon Shalom Arik |
Open-market purchase | 100 | $0.49 | $49 |
Well-known investors holding CUEN (13F)
None of the 59 investors we track reported a position in their latest 13F.