Cuentas Inc 8-K, filed May 27, 2020
Cuentas Inc. (CUEN)
About this 8-K
Cuentas Inc filed this 8-K on May 27, 2020, reporting on events of May 26, 2020.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 26, 2020
Cuentas Inc.
(Exact name of registrant as specified in its charter)
| Florida | 000-54923 | 20-3537265 | ||
| (State or other jurisdiction of | (Commission file number) | (IRS Employer | ||
| incorporation or organization) | Identification No.) |
200 S Biscayne Blvd., 55th Floor, Miami, Florida 33131
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (800) 611-3622
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act: N/A
Item 8.01 Other Events.
On May 26, 2020, Cuentas, Inc. issued a press release announcing that it has filed an application with the Nasdaq Stock Market to list its shares of Common Stock. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, Dated May 26, 2020 |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CUENTAS INC. | ||
| Dated: May 26, 2020 | By: | /s/ Arik Maimon |
|
Arik Maimon Chief Executive Officer | ||
2
Exhibit 99.1
Cuentas Files Application for Uplisting to NASDAQ
MIAMI, FL / ACCESSWIRE / May 26, 2020 / Cuentas, Inc. (OTCQB: CUEN) (“Cuentas”), a leading FinTech provider of mobile banking and payment solutions aimed at serving Hispanic and Latino communities, submitted its formal application to list its common shares on the NASDAQ Capital Market.
“Becoming a NASDAQ-listed company will be a significant milestone for Cuentas that builds on our momentum from the recent launch of our Cuentas GPR card and Mobile App,” stated Michael De Prado, co-founder and President. “We expect that the move to NASDAQ would serve to raise Cuentas’ visibility and enhance trading liquidity by broadening our appeal to a larger shareholder base as we execute our business plan and drive long-term shareholder value.”
“After almost 4 years in the public arena, management is very proud to reach this major milestone and with all humility and pride, we would like to thank everyone for their support, faith, patience and dedication that allowed management to achieve this milestone,” stated Arik Maimon, co-founder and CEO. There is a lot more to come in this process and we are expecting that all shareholders will be very proud of Cuentas in the coming weeks.
The Cuentas Mobile App and prepaid Mastercard services provide a comprehensive financial solution for the 20 million+ underbanked or unbanked U.S. Hispanic & Latino community, providing access to the U.S. financial system to those who cannot or prefer not to bank at a traditional financial institution while enabling greater functionality than a traditional bank offers.
A proprietary general-purpose reloadable (GPR) card, the Cuentas prepaid Mastercard provides an FDIC insured account with banking features, ATM access, direct deposit, cash reload, free Cuentas App to Cuentas App “send” or “request” money transfers , and mobile banking capabilities, among other key Cuentas App features - such as purchasing discounted gift cards, including Amazon Cash, Sony Playstation, Microsoft Xbox, Burger King, etc. and the ability to scan & load Mass Transit Cards (available in Los Angeles, Connecticut, Michigan, and expected shortly, New York City). Upcoming App upgrades will also include international cross border remittances and other services such as international Bill Pay whereas US Cuentas App account holders using the Cuentas Mobile App will be able to directly pay utility and other bills for relatives in other countries such as Mexico.
Now available for download on Apple App Store and Google Play Store , the Cuentas Mobile App allows consumers to easily activate their Cuentas prepaid Mastercard, review their account balance and conduct financial transactions. Cuentas is also introducing free card-to-card transfers from one Cuentas card to other Cuentas cards, which we believe will be a very useful and competitive feature.
About Cuentas
Cuentas, Inc. (OTCQB: CUEN) is an e-banking and e-commerce service provider with proprietary technology aimed at providing solutions for the underbanked and un-banked Hispanic and Latino population. Its services include, but are not limited to, mobile banking, online banking, prepaid debit, ACH and mobile deposits, cash remittance, peer to peer money transferring, and providing access to bank accounts for customers who previously could not obtain bank accounts. The proprietary Cuentas General Purpose Reloadable (GPR) Card provides holders with a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. For more information, visit https://cuentas.com
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. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements including that we will meet the standard for listing on NASDAQ or successful in our launch of the Cuentas GPR card and mobile app. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as “believe”, “plan” or “expect” or similar statements are forward-looking statements.
Investor Relations
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SOURCE: Cuentas, Inc.