CUEN – Cuentas, Inc. Reaffirms Its Dominance in Telecommunications, Financial Technology and Real Estate and Garners Unwavering Shareholder Backing at the Recent Annual General Meeting
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The announcement by Cuentas, Inc. regarding its Annual Meeting of Shareholders results highlights the company's continued growth and strategic focus in the fields of telecommunications, financial technology and real estate. The company's revenue generation agreements and operational cost efficiencies are particularly noteworthy, as these are key drivers of profitability and are likely to influence investor sentiment and the company's stock performance.
From a financial standpoint, the success of the Lakewood Village apartment buildings and the upcoming Tampa project, leveraging composite modular technology, suggests a potential reduction in capital expenditures and a shorter timeline to revenue generation, which could improve the company's return on investment. The emphasis on sustainability and resilience in construction also aligns with increasing consumer and investor interest in environmentally responsible and durable real estate developments.
Cuentas, Inc.'s positioning as a leader in providing integrated services to the unbanked and underbanked Hispanic market is a strategic move that taps into a niche yet growing demographic. The company's focus on operational cost efficiencies and revenue generation agreements with national distribution organizations indicates a strong understanding of the competitive landscape and an ability to secure profitable partnerships.
Furthermore, the integration of Cuentas Mobile and Cuentas Fintech brands showcases the company's commitment to innovation in financial services, a sector that is rapidly evolving with the rise of digital banking solutions. The development of a more robust financial services application could position Cuentas, Inc. at the forefront of financial inclusion, which is an increasingly important theme in both social impact investing and consumer finance.
The progress in Cuentas, Inc.'s real estate ventures, particularly the use of modular composite material in the Lakewood Village project, represents a forward-thinking approach to construction that may offer a competitive advantage in the real estate market. The ability to withstand Category 5 hurricanes not only adds value in terms of safety and durability but also may appeal to investors and buyers concerned with climate change and natural disasters.
The company's majority stake in the upcoming Tampa real estate project suggests confidence in the region's growth potential and housing market dynamics. Given the increased demand for affordable housing, the strategic decision to utilize innovative construction methods could result in cost savings and higher margins, thereby enhancing shareholder value in the long term.
Cuentas, Inc. Reaffirms its leadership in Telecommunications, Financial Technology and Real Estate. Releases the results of the Annual Meeting of Shareholders, confirming the company's guidance, governance and support for its integrated services businesses.
MIAMI BEACH, FL, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) (“CUEN” or “the Company”), the foremost developer of fully integrated real estate, telecommunications, and financial applications for the unbanked and underbanked Hispanic market, proudly reveals the outcomes of its Annual Meeting of Shareholders, solidifying unequivocal backing from its stakeholders for the advanced vision set forth by the Board of Directors and Management. Affirming its stature as a dominant force in the market, the company underscores its commitment to excellence through its seamlessly integrated service portfolio and unwavering dedication to long-term sustainability and exponential growth. Management celebrates this momentous occasion, propelling the company forward with a revitalized and steadfast pledge towards achieving unprecedented milestones in 2024.
The Board of Directors and Company Management extend their deepest gratitude to all shareholders for their unwavering support and steadfast commitment to the company's vision. The resounding approval of recent proxy vote proposals not only signifies a strong vote of confidence but also underscores the shared dedication to executing the meticulously planned strategies throughout 2023. The Board's confirmation and the green light on additional proposals inject renewed vigor into the Company's mission, propelling continuous enhancements to its integrated product and service portfolio.
Cuentas, Inc. proudly stands as the unequivocal market leader in telecommunications and financial technology, seamlessly offering an integrated experience under the Cuentas Mobile and Cuentas Fintech brands. The relentless pursuit of improvement has led to substantial revenue generation agreements with key national distribution organizations and the refinement of a more robust financial services application, all while achieving operational cost efficiencies. The stellar third-quarter financial results bear testimony to these transformative efforts.
In the realm of real estate development, Cuentas Casa is reshaping landscapes by providing resilient housing solutions for lower-income families, aligning seamlessly with the company's commitment to this demographic. The successful completion of the Lakewood Village apartment buildings in Palm Springs, Florida, using visionary modular composite material designed to withstand a Category 5 hurricane, is a testament to innovation and commitment.
As Cuentas Casa embarks on its next project in Tampa, Florida, a burgeoning real estate market with surging growth and strong housing price support, the Company's foresight in utilizing composite modular technology by Renco USA is reaffirmed. This strategic decision not only reduces construction costs and time but also bolsters profitability by offering a durable and robust residential product. Cuentas, Inc. holds a majority stake in the Tampa project, poised to break ground in 2024.
Mr. Arik Maimon, Executive Chairman and CEO of Cuentas, Inc., expressed his gratitude, stating, “Cuentas' visionary approach and successful integrated offerings are a testament to the strategic governance of our Board and the resolute execution by our management. This commitment will endure through 2024 and beyond. The approved proposals motivate us to create value for customers and stakeholders. I sincerely thank our shareholders for their support.”
Mr. Michael De Prado, CUEN Executive Vice Chairman and President, shared insights after the shareholder meeting, emphasizing, “The 2024 business forecast, plans for enhanced profitability, success in our real estate project, and expected growth in home purchases motivate our team to increase efforts. Our Cuentas Mobile and Cuentas Fintech will continue to evolve. We are diligently working to incorporate new modules and lower acquisition and operational costs.”
For detailed information on the Annual Meeting of Shareholders, including results, refer to the filed Form 8K accessible on the official company website (www.cuentas.com/investors-relations). Cuentas remains steadfast in its commitment to shareholder transparency and engagement as it charts an exhilarating course for the future.
About Cuentas
Cuentas, Inc. (OTC: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global 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 unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. In 2023 Cuentas launched Cuentas Casa, an alternative housing development initiative that secured a 10-year supply agreement for a patented, sustainable modular building system that will provide the bridge between its technology solutions and the affordable housing market. LINK: https://cuentas.com AND https://cuentasmobile.com
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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. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. 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. We undertake no obligation to revise or update any forward-looking statement for any reason.
Contact Information:
Arik Maimon
CEO at Cuentas Inc
Cuentas Inc. (OTC:CUEN)
Phone: 800-611-3622
Mobile: 786-774-2835
Web: www.cuentas.com
Email: arik@cuentas.com
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