Cuentas files its 10Q report for the second quarter of 2021
MIAMI, FL / ACCESSWIRE / August 25, 2021 / Cuentas, Inc. (NASDAQ: CUEN) (“Cuentas”), a leading FinTech provider of mobile banking and payment solutions serving Latino and Hispanic consumers, filed its Quarterly Report for the period ended June 30, 2021 .
Cuentas’ balance sheet improved significantly at the end of the second quarter due to the conversion of warrants originally issued as part of a public offering subscribed in February 2021. These funds, totaling approximately $ 6.2 million , arrived at the end of the second trimester and the first days of the third trimester and were deposited into the bank account of Cuentas.
The 2021-Q2 10T report shows $ 6.24 million in cash and cash equivalents as of 6/30/2021 compared to $ 0.22 million as of 12/31/2020 and with total assets of 12.9 million of dollars as of June 30, 2021 compared to $ 7.5 million as of December 31, 2020.
The total liability is $ 3.45 million as of 6/30/2021, compared to $ 6.57 million as of 12/31/2020.
Total revenue for the second quarter ending 6/30/2021 was $ 155,000 compared to $ 117,000 for the same period of 2020. The operating loss was $ 2 million for the second quarter of 2021, compared to $ 1.236 million for the second quarter of 2020.
“The exercise of the Cuentas warrants at the end of the second quarter shows investor confidence in the Cuentas project and we intend to use these additional funds to increase our business development and market penetration.” said Arik Maimon, Founder and Executive Chairman. “Cuentas will continue to work towards our goal of improving our strategic marketing and distribution plan,” added Maimon.
Cuentas, Inc. (Nasdaq: CUEN & CUENW) is a FinTech banking and e-commerce provider with proprietary technology aimed at providing solutions to the underbanked and unbanked Hispanic and Latino population. Its services include, but are not limited to, mobile banking, online banking, prepaid debits, ACH and mobile deposits, remittances, peer-to-peer money transfers, and access to bank accounts. for customers who previously could not get bank accounts. The exclusive Cuentas General Purpose Reloadable (GPR) card offers cardholders a digital wallet, discounts for purchases at major physical and online retailers, rewards and the ability to purchase digital content. For more information, visit the Investor Relations section of www.cuentas.com
This press 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. United, as amended. the statements contained in this press release, which are not purely historical, are forward-looking statements and include statements regarding beliefs, plans, expectations or intentions regarding the future. With the exception of historical information presented in this document, the matters discussed in this press release contain forward-looking statements which are subject to certain risks and uncertainties which could cause actual results to differ materially from results, performances or achievements. future expressed or implied by such statements. Statements which are not historical facts, including statements which are preceded, followed by, or which include words such as “estimate”, “anticipate”, “believe”, “plan” or “foresee” or statements Similar are forward-looking statements. The forward-looking statements contained in this press release include statements relating to other publicly available information about the company.
235 Lincoln Road, Suite 210
Miami Beach, Florida 33139
THE SOURCE: Cuentas, Inc.
See the source version on accesswire.com: