Cuentas Inc. Terminates Material Agreement

TL;DR

CUEN terminated a big deal, filing shows.

AI Summary

Cuentas, Inc. filed an 8-K on August 16, 2024, reporting the termination of a material definitive agreement as of August 12, 2024. The filing also includes financial statements and exhibits. The company, formerly known as NEXT GROUP HOLDINGS, INC., is based in Miami Beach, Florida.

Why It Matters

The termination of a material definitive agreement can significantly impact a company's operations, financial standing, and future strategic direction.

Risk Assessment

Risk Level: medium — Termination of a material definitive agreement introduces uncertainty regarding the company's business relationships and financial projections.

Key Players & Entities

• Cuentas, Inc. (company) — Registrant
• NEXT GROUP HOLDINGS, INC. (company) — Former company name
• August 16, 2024 (date) — Filing date
• August 12, 2024 (date) — Date of earliest event reported
• Miami Beach, Florida (location) — Company address

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share CUEN The Nasdaq Stock Mar
• $475,000.00 — dred and Seventy-Five Thousand Dollars ($475,000.00) outstanding and owed by Company to InC

Filing Documents

• ea0211657-8k_cuentas.htm (8-K) — 46KB
• ea021165701ex10-1_cuentas.htm (EX-10.1) — 11KB
• 0001213900-24-070316.txt ( ) — 273KB
• cuen-20240812.xsd (EX-101.SCH) — 4KB
• cuen-20240812_def.xml (EX-101.DEF) — 26KB
• cuen-20240812_lab.xml (EX-101.LAB) — 36KB
• cuen-20240812_pre.xml (EX-101.PRE) — 25KB
• ea0211657-8k_cuentas_htm.xml (XML) — 6KB

From the Filing

UNITED 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): August 16, 2024 ( August 12, 2024 ) Cuentas, Inc. (Exact name of registrant as specified in its charter) Florida 001-39973 20-3537265 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation or organization) Identification Number) 235 Lincoln Rd. , Suite 210 Miami Beach , FL (Address of principal executive offices) 33139 (Zip Code) ( 800 ) 611-3622 (Registrant's telephone number, including area code) 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 obligation of the Company 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)) Securities registered under Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share CUEN The Nasdaq Stock Market LLC Warrants, each exercisable for one share of Common Stock CUENW The Nasdaq Stock Market LLC 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. Item 1.02 Termination of a Material Definitive Agreement. On August 12, 2024, Cuentas, Inc. ("Cuentas") received the fully executed Termination Agreement to the Processing Services Agreement dated July 23, 2019 by and between Cuentas, Inc. ("Cuentas") and Interactive Communications International, Inc., ("InComm"), (collectively, the "Parties"). InComm agreed to waive the Four Hundred and Seventy-Five Thousand Dollars ($475,000.00) outstanding and owed by Company to InComm as a result of unpaid Monthly Minimum Fees dating back to December 2022. In accordance with instructions from the Issuing Bank as a result of the closure of the Prepaid Product program managed by Company on behalf of the Issuing Bank, InComm will destroy any remaining un-issued Prepaid Products and all related collateral in its or its print vendors' possession forthwith. InComm and Company will cooperate with the Issuing Bank for the unwinding and sunsetting of the Prepaid Product program. Cuentas will still maintain its Digital Content and Distribution Agreements with InComm as it works on the transportation, bodega and cellular markets. Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Termination Agreement 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: August 16, 2024 By: /s/ Shalom Arik Maimon Shalom Arik Maimon Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR