Cuentas Reports Improved Business Transition Results, Revenues and Profitability in Annual Financial Report Release

Quick Summary:

Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, OTC and shareholder approval of the proposed transaction, our ability to manage our research and development programs that are based on novel technologies, our ability to successfully integrate WHEN operations and product offerings, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, market acceptance, the going concern qualification in our financial statements, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission.

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 in the amount of $209,000 during the year ended December 31, 2023, as opposed to $2,087,000 during the year ended December 31, 2022.  Gross profit margin:  For the year ended December 31, 2023, was negative for both the telecommunications segment and the digital product and general-purpose reloadable cards segment but slightly positive for wholesale which by its nature has a tiny markup.

Expects Imminent Closing Sale of Tampa Real Estate Asset Unlocking Remarkable Profits and Cash.  MIAMI BEACH, FL, April 16, 2024 (GLOBE NEWSWIRE) -- Cuentas, Inc.(OTC: CUEN & CUENW) ("CUEN” or "the Company”), a pioneer driving the seamless integration of fintech, mobile telecommunications, and real estate for the unbanked and underbanked Hispanic demographic, announced today the publication of the company’s FY 2023 financial report on SEC Form 10K.

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Cuentas Inc.

Category: Technology

Markets: ChinaUnited States

Topics: US2297943001 OTC Markets:CUEN OTC Markets:CUENW

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-16 @ 15:10:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

Article Length: 1641 words

Reading Time: 10 minutes read

Sentences: 51 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © GlobeNewswire

News ID: 20705901

View Article Analysis

About GlobeNewswire

Main Topics: Technology

Official Website: globenewswire.com

Update Frequency: 97 posts per day

Year Established: 1998

Headquarters: China

News Last Updated: 8 hours ago

Coverage Areas: China

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #116

Publisher Details

Frequently Asked Questions