Cuentas, Inc., a financial technology company, has released its consolidated financial statements for the fiscal year ending December 31, 2023. The company reported revenues from related parties at $2,250,000, a slight increase from the previous year's $2,052,000. Other revenues, however, decreased significantly from $942,000 in 2022 to $96,000 in 2023. The total revenues for 2023 were $2,346,000, with a gross profit of $486,000. The operating loss for the year was $6,409,000, an improvement from the $14,355,000 loss in 2022. The net loss before equity losses was $2,109,000, with a total net loss of $2,196,000, which is substantially lower than the $14,531,000 net loss reported in the previous year. Loss per share was reduced to $0.95 from $11.81 in 2022. The company's balance sheet shows an accumulated deficit of approximately $55 million and a negative working capital of approximately $3 million...Show More

Cuentas, Inc., a financial technology company, has released its consolidated financial statements for the fiscal year ending December 31, 2023. The company reported revenues from related parties at $2,250,000, a slight increase from the previous year's $2,052,000. Other revenues, however, decreased significantly from $942,000 in 2022 to $96,000 in 2023. The total revenues for 2023 were $2,346,000, with a gross profit of $486,000. The operating loss for the year was $6,409,000, an improvement from the $14,355,000 loss in 2022. The net loss before equity losses was $2,109,000, with a total net loss of $2,196,000, which is substantially lower than the $14,531,000 net loss reported in the previous year. Loss per share was reduced to $0.95 from $11.81 in 2022. The company's balance sheet shows an accumulated deficit of approximately $55 million and a negative working capital of approximately $3 million, raising concerns about its ability to continue as a going concern. Cuentas has made investments in the real estate market and continues to focus on providing financial services to underserved communities. The company's future plans include raising capital and revenue through operations, negotiating to sell mobile services as a Mobile Virtual Network Operator, and the potential sale of the 'Brooksville Property' for $7,200,000.