Cuentas, Inc. Unveils Empowering Shareholder Letter: Triumph in Proxy Votes, Surging Revenue, and Elevated Gross Margins Steal the Spotlight, Reinforcing Dominance in Integrated Mobile, Fintech, and Real Estate Ventures.
MIAMI BEACH, FL, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) (“CUEN” or “the Company”), the trailblazing force behind fully integrated real estate, telecommunications, and financial applications for the unbanked and underbanked Hispanic market, proudly releases a letter to its shareholders, from the Company CEO, Mr. Arik Maimon, sharing the monumental accomplishments of fiscal year 2023, the triumphant outcomes of our shareholder meeting, and his vision for the future.
Dear Valued Shareholders,
Heartfelt gratitude resonates from the core of my being as I extend sincere thanks for the resounding approval of all proposed items during our recent annual shareholder meeting. The vote passed with a majority equivalent to more than 62% of the shares present. This mandate carries profound responsibility, and your unwavering support is an honor I hold dear. I pledge to persist in my dedicated efforts, drawing upon decades of technology and successful business expertise, as we craft what I believe to be the world's unparalleled company—an amalgamation of mobile, banking, and affordable housing services in a singular offering.
Our service portfolio, meticulously tailored for the United States Hispanic market, presents a suite of cellular services, virtual and real bank accounts, and the groundbreaking Cuentas Casa—an embodiment of durable and financially accessible housing solutions. Cuentas is the only company in the world to provide all essential services to these hard-working communities, and we are proud to serve them with our affordable and efficient solutions.
Cuentas proprietary software solutions and technologies, including our strategically negotiated contracts and supply agreements, truly provide an advantage. We can quickly scale and serve any community, both domestically and internationally. Cuentas Money is a great example of these valuable assets, and I feel confident in our success in our current service rollout.
Our mobile services offering, Cuentas Mobile, is growing rapidly and as a result of our distribution agreements, we are expanding our markets and our customer base. We will add new features and programs to our existing offering, including our Fintech Cuentas Money services, always aiming to make it more convenient and affordable.
The year 2023 stands adorned with key milestones, achieved through the unwavering dedication of our formidable team. Cuentas charts a course of unprecedented growth, profitability, and augmented shareholder value. Year-over-year revenue escalation and a stellar last quarter, surpassing our own growth expectations, underscore our ascent.
In the realm of real estate, our Cuentas Casa ventures in South Florida was crowned with the triumph of the inaugural Lakewood Village project in Palm Springs, Florida. These apartment buildings stand as a testament to our mission, reinforced by the deployment of Renco’s composite material—a revolutionary building material capable of withstanding Category 5 hurricanes, ensuring durability while trimming construction costs. The journey continues as we harness this remarkable building technology and its myriad benefits.
Cuentas wields a majority stake in our upcoming Tampa project, poised to break ground in 2024. Tampa was recognized as the fastest-growing real estate market in 2022 by Zillow, as it bears witness to a significant surge in housing prices. The potential for reduced mortgage rates is anticipated to stir prospective buyers. Our core team diligently explores additional opportunities to enrich our future portfolio.
In closing, I reiterate my immense pride in our achievements, firmly believing that we stand alone globally in incorporating such a diverse array of offerings. The prospect of perpetuating my experience and energy to serve the Company and its shareholders fuels my enthusiasm. My team and I are resolute in our dedication, spurred by the remarkable results of fiscal year 2023.
Cuentas stands unwavering in its commitment to deliver strategic telecommunications, fintech, and housing solutions—revolutionizing essential service sectors.
Expect periodic updates on our development and success as we actively disseminate our vision and story through all communication channels.
Sincerely,
Arik Maimon
Chairman and CEO
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. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. In Q1 of 2023 Cuentas launched Cuentas Casa, an alternative housing development initiative that secured a 10-year supply agreement for a patented, sustainable building system that will provide the bridge between its technology solutions and the affordable housing market. Cuentas has made investments to date in affordable housing projects for over 450 apartments. 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
