Welcome to our dedicated page for Cuentas news (Ticker: CUENW), a resource for investors and traders seeking the latest updates and insights on Cuentas stock.
CUENTAS INC WTS (CUENW) represents warrants on Cuentas, Inc., a Florida-incorporated company that combines financial technology, mobile telecommunications, digital content and housing-related initiatives. News about CUEN and CUENW often centers on how the company is developing its alternative financial ecosystem for unbanked, under-banked and underserved communities in the United States, particularly within the Hispanic demographic.
Investors following CUENW news can expect updates on Cuentas’ fintech platform, including its General Purpose Reloadable card with a digital wallet, retailer discounts, rewards and digital content purchasing capabilities. Coverage also includes developments in Cuentas Mobile, the company’s mobile telecommunications solution that uses eSIM and traditional SIM technology and is supported by a broad distribution network of retail outlets and bodegas.
Another important category of news involves Cuentas’ strategic partnerships and joint ventures. The company has announced collaborations with World Mobile Group Ltd to deliver localized networks, roaming services and mobile solutions, and has disclosed a joint venture, World Mobile Media Group LLC, intended to operate an internet-delivered over-the-top media and digital content platform under the World Mobile Media or WMM brand. These items can influence how market participants view the growth prospects associated with CUENW.
News flow also covers Cuentas Casa and related real estate activities, such as investments in affordable housing projects in Florida and transactions involving properties that the company has used to unlock liquidity for its fintech and mobile operations. Regulatory and reporting milestones, including statements about being current with SEC filings and trading on the Pink Limited Market, are additional themes that may appear in CUEN and CUENW headlines. For a fuller picture of the warrants, readers often track this blend of financial, operational, partnership and regulatory news.
Summary not available.
Summary not available.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) has announced the expansion of its Sustainable Life initiatives with the development of a 360-unit apartment complex named Arden By Cuentas Casa near Tampa, Florida. This project aims to provide affordable rental options while utilizing innovative construction techniques from Renco USA. Cuentas has already invested $2 million towards the $5.1 million acquisition of the land, with plans to close the deal soon. The company emphasizes empowering the underbanked and underserved populations by providing a modern financial ecosystem that offers various financial tools and solutions, thereby enhancing economic participation. This project follows their previous investment in the Lakewood Village project, and management plans to continue developing multiple projects by 2024.
Cuentas, Inc. (NASDAQ: CUEN, CUENW) announced it has regained compliance with NASDAQ's minimum bid price requirement. The NASDAQ Hearings Panel confirmed that the company met the requirement of having a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days. Consequently, the Panel has closed the compliance file, indicating that Cuentas has no further deficiencies.
This compliance allows Cuentas to maintain its listing on NASDAQ, thereby stabilizing its position in the market. The company focuses on providing digital financial services, especially to underserved populations, and has secured a long-term supply agreement that bridges technology solutions with the affordable housing market.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) reported significant growth in its annual 10K filing, revealing a 500% year-over-year increase in revenue, totaling $2.994 million for 2022 compared to $593,000 in 2021. Gross profit rose to $486,000 from $124,000. The company's liabilities decreased from $2.8 million to $2.2 million. CuentasCasa secured a 10-year supply agreement for a patented construction technology aimed at affordable housing. This aligns with the recently passed Florida Senate Bill 102, which invests $711 million into the affordable housing sector, creating new opportunities for the company.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) has announced a reverse stock split at a ratio of 1 for 13, effective from 12:01 a.m. Eastern time on March 24, 2023. This move is aimed at increasing the market price per share and ensuring compliance with Nasdaq Capital Market listing requirements. Following the split, the outstanding shares will decrease from approximately 27.1 million to 2.1 million. The new CUSIP number will be 229794300. Stockholders will have their shares automatically adjusted, with physical certificate holders advised to exchange their certificates for updated ones.
Cuentas (NASDAQ:CUEN, CUENW) has successfully completed its acquisition of an equity position in Lakewood Village, the first sustainable rental housing project in the US utilizing patented MCFR technology approved for hurricane-prone areas. The project consists of 96 affordable multi-family apartments located in Palm Beach County, with an independent appraisal valuing it at approximately $25M upon completion. Cuentas plans to enable renters to use its mobile app for payments related to rent and utilities, aligning with its vision to support affordable housing amidst rising property values in Florida.
Cuentas, Inc. (NASDAQ:CUEN, CUENW) announced a definitive agreement for the purchase and sale of 3,787,879 shares of common stock at a price of $1.32 per share, resulting in expected gross proceeds of approximately $5 million. This offering includes a concurrent private placement of warrants to purchase an equal number of shares at an exercise price of $1.335, valid for 5.5 years post-issuance. The offering is anticipated to close around February 8, 2023. Proceeds will support general corporate purposes and working capital. H.C. Wainwright & Co. serves as the placement agent.
Cuentas (NASDAQ:CUEN, CUENW) announced a definitive agreement to acquire a 6% equity stake in the Lakewood Village affordable housing project in Florida for $1.195M, funded by approximately 3.8 million common shares, equating to 19.9% of its outstanding shares. This project consists of 96 apartments and utilizes a patented construction technology approved for hurricane-prone areas. The investment is backed by a pending appraisal, potentially valuing the property at $20M. Cuentas aims to address the affordable housing shortage in the US, particularly for the unbanked and underserved populations, and plans to co-develop more projects under the CuentasCasa brand.
Cuentas, Inc. (NASDAQ: CUEN, CUENW) has appointed Lexi Terrero as an independent director to its board. Terrero, a Managing Partner at The Flo Lab, brings extensive experience in marketing and finance, previously serving as CFO of Hispanicize Media Group. Her roles have included managing marketing strategies, brand partnerships, and investor relations. CEO Arik Maimon expressed optimism that her expertise will support Cuentas' strategic goals for 2023 and beyond, focusing on enhancing financial services for the underbanked and immigrant populations.