Cuentas Inc. Files 8-K: Material Definitive Agreement
Ticker: CUENW · Form: 8-K · Filed: Mar 14, 2024 · CIK: 1424657
| Field | Detail |
|---|---|
| Company | Cuentas INC. (CUENW) |
| Form Type | 8-K |
| Filed Date | Mar 14, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $5.05 Million, $7.2 Million, $2 million, $65k |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
Related Tickers: CUEN
TL;DR
CUEN filed an 8-K for a material definitive agreement on 3/13/24.
AI Summary
On March 13, 2024, Cuentas Inc. entered into a Material Definitive Agreement. The filing also includes financial statements and exhibits. Cuentas Inc. is headquartered in Miami Beach, Florida.
Why It Matters
This 8-K filing indicates Cuentas Inc. has entered into a significant agreement, which could impact its business operations and financial standing.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Players & Entities
- Cuentas Inc. (company) — Registrant
- March 13, 2024 (date) — Date of earliest event reported
- Miami Beach, Florida (location) — Business Address
- 001-39973 (other) — SEC File Number
FAQ
What type of Material Definitive Agreement did Cuentas Inc. enter into?
The filing states that Cuentas Inc. entered into a Material Definitive Agreement on March 13, 2024, but the specific details of the agreement are not provided in this summary.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on March 13, 2024.
What is Cuentas Inc.'s business address?
Cuentas Inc.'s business address is 235 Lincoln Road, Suite 210, Miami Beach, Florida 33139.
What is the SEC file number for Cuentas Inc.?
The SEC file number for Cuentas Inc. is 001-39973.
What other information is included in this 8-K filing besides the material agreement?
This 8-K filing also includes financial statements and exhibits.
Filing Stats: 649 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-03-14 09:00:10
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share CUEN The Nasdaq Stock Mar
- $5.05 Million — originally purchased April 28, 2023 for $5.05 Million and is now is expected to be sold for $
- $7.2 Million — n and is now is expected to be sold for $7.2 Million. Cuentas contributed $2 million to the
- $2 million — d for $7.2 Million. Cuentas contributed $2 million to the original purchase price and almo
- $65k — the original purchase price and almost $65k towards engineering expenses. The $3.05
- $3.05 million — $65k towards engineering expenses. The $3.05 million mortgage with Republic Bank of Chicago
- $3.055 million — ed and restated on January 27, 2024 for $3.055 million. Additionally, a $500,000 Loan Extensio
- $500,000 — 024 for $3.055 million. Additionally, a $500,000 Loan Extension Agreement was executed b
Filing Documents
- ea0201783-8k_cuentas.htm (8-K) — 33KB
- ea020178301ex10-1_cuentas.htm (EX-10.1) — 18KB
- ea020178301ex10-2_cuentas.htm (EX-10.2) — 32KB
- ea020178301ex10-3_cuentas.htm (EX-10.3) — 17KB
- ea020178301ex10-4_cuentas.htm (EX-10.4) — 45KB
- ea020178301ex10-5_cuentas.htm (EX-10.5) — 9KB
- ex10-1_001.jpg (GRAPHIC) — 4KB
- 0001213900-24-022394.txt ( ) — 405KB
- cuen-20240313.xsd (EX-101.SCH) — 4KB
- cuen-20240313_def.xml (EX-101.DEF) — 26KB
- cuen-20240313_lab.xml (EX-101.LAB) — 36KB
- cuen-20240313_pre.xml (EX-101.PRE) — 25KB
- ea0201783-8k_cuentas_htm.xml (XML) — 6KB
01. Entry into a Material Definitive
Item 1.01. Entry into a Material Definitive Agreement. On March 13, 2024, Cuentas, Inc., ("Cuentas") through its 63% participation in Brooksville Development Partners, LLC ("Company") approved the signing of a Letter of Intent to sell the "Brooksville Property" located at 19200 Cortez Boulevard, Brooksville, Florida 34601. The April 28, 2023 purchase of this property was previously disclosed on a May 4, 2023 SEC 8k submission. The property was originally purchased April 28, 2023 for $5.05 Million and is now is expected to be sold for $7.2 Million. Cuentas contributed $2 million to the original purchase price and almost $65k towards engineering expenses. The $3.05 million mortgage with Republic Bank of Chicago was amended and restated on January 27, 2024 for $3.055 million. Additionally, a $500,000 Loan Extension Agreement was executed between the Company and ALF Trust u/a/d 09/28/2023 to ensure the Promissory Note necessary to fund the interest reserve and fees relating to the Loan Extension Agreement and the working capital needs of the Company. Brooksville Development Partners, LLC ("Company") consists of Brooksville Development DE, LLC (the "Class A Member" with 30% Membership Interest), Cuentas Inc, (a "Class B Member" with 63% Membership Interest) and Brooksville FL Partners, LLC, (a "Class B Member" with 7% Membership Interest), collectively the "Members".
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Letter of Intent 10.2 First Amendment to Mortgage and Assignment of Leases 10.3 Certificate of Company Resolution for Republic Bank of Chicago Loan Extension 10.4 Amended and Restated Promissory Note 10.5 Press Release distributed March 14, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) 1 SIGNATURE 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. Date: March 14, 2024 By: /s/ Shalom Arik Maimon Shalom Arik Maimon Chief Executive Officer 2