Cuentas Inc. Signs Material Definitive Agreement
Ticker: CUENW · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1424657
| Field | Detail |
|---|---|
| Company | Cuentas INC. (CUENW) |
| Form Type | 8-K |
| Filed Date | Jun 7, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $50,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
Related Tickers: CUEN
TL;DR
CUEN signed a big deal, filing today.
AI Summary
On June 3, 2024, Cuentas Inc. entered into a Material Definitive Agreement. The company, formerly known as NEXT GROUP HOLDINGS, INC., Pleasant Kids, Inc., and NYBD Holding, Inc., filed this 8-K report on June 7, 2024, detailing the agreement.
Why It Matters
This filing indicates a significant new agreement for Cuentas Inc., which could impact its business operations and financial future.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, and the specifics of this agreement are not detailed in the provided text.
Key Players & Entities
- Cuentas Inc. (company) — Registrant
- NEXT GROUP HOLDINGS, INC. (company) — Former Company Name
- Pleasant Kids, Inc. (company) — Former Company Name
- NYBD Holding, Inc. (company) — Former Company Name
- June 3, 2024 (date) — Date of earliest event reported
- June 7, 2024 (date) — Date of report
FAQ
What is the nature of the Material Definitive Agreement entered into by Cuentas Inc. on June 3, 2024?
The provided text states that Cuentas Inc. entered into a Material Definitive Agreement on June 3, 2024, but does not specify the nature or terms of the agreement.
When did Cuentas Inc. file this 8-K report?
Cuentas Inc. filed this 8-K report on June 7, 2024.
What were some of Cuentas Inc.'s former company names?
Cuentas Inc. was formerly known as NEXT GROUP HOLDINGS, INC., Pleasant Kids, Inc., and NYBD Holding, Inc.
What is Cuentas Inc.'s business address?
Cuentas Inc.'s business address is 235 LINCOLN ROAD, SUITE 210, MIAMI BEACH, FL 33139.
What is Cuentas Inc.'s SEC file number?
Cuentas Inc.'s SEC file number is 001-39973.
Filing Stats: 670 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2024-06-07 12:09:15
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share CUEN OTC Warrants, each
- $50,000 — forward. World Mobile will transfer US$50,000 to Cuentas as a refundable Security Dep
Filing Documents
- ea0207474-8k_cuentas.htm (8-K) — 34KB
- ea020747401ex10-1_cuentas.htm (EX-10.1) — 13KB
- ea020747401ex10-2_cuentas.htm (EX-10.2) — 11KB
- 0001213900-24-050607.txt ( ) — 277KB
- cuen-20240603.xsd (EX-101.SCH) — 4KB
- cuen-20240603_def.xml (EX-101.DEF) — 26KB
- cuen-20240603_lab.xml (EX-101.LAB) — 36KB
- cuen-20240603_pre.xml (EX-101.PRE) — 25KB
- ea0207474-8k_cuentas_htm.xml (XML) — 5KB
01. Entry into a Material Definitive
Item 1.01. Entry into a Material Definitive Agreement. On June 3, 2024, Cuentas, Inc., ("Cuentas") signed a Non Binding Letter of Intent (LOI) with World Mobile Group Ltd ("World Mobile"), a UK limited company to leverage the World Mobile sharing economy to expand network coverage and provide affordable connectivity, while also offering Cuentas' digital products to customers. Cuentas and World Mobile will collaborate to integrate Cuentas' fintech, banking, payments, remittance, and other financial services into the World Mobile app and ecosystem. This integration aims to enhance the user experience and expand the range of available services. The Parties agree to engage in a equity / stock option agreement whereby World Mobile is rewarded stock in Cuentas publicly traded vehicle, with specifics to be determined based on achieving defined milestones. This tiered approach will align the incentives and contributions of both parties throughout the partnership. The Parties agree to consider and discuss potential merger terms and conditions as part of the formal agreement going forward. World Mobile will transfer US$50,000 to Cuentas as a refundable Security Deposit within 3 days of signing this LOI. This LOI serves as a preliminary expression of intent between World Mobile and Cuentas and is not legally binding, except where explicitly stated. This document does not create obligations of exclusivity, purchase, sale, or any formal partnership beyond the described intentions. Following this LOI, the Parties will proceed to negotiate the terms of a definitive agreement that will outline the detailed commercials and terms and conditions of the partnership. Both parties agree to conduct these negotiations in good faith and with due diligence.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Letter of Intent 10.2 Press release distributed June 4, 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: June 7, 2024 By: /s/ Shalom Arik Maimon Shalom Arik Maimon Chief Executive Officer 2