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 was dramatically improved at the end of Q2 due to the conversion of warrants originally issued through an underwritten public offering in February 2021. These funds, totaling approximately $6.2 Million arrived at the end of Q2 and the first days of Q3 and were deposited to Cuentas' bank account.
The 2021-Q2 10Q report shows $6.24 million in Cash & cash equivalents on 6/30/2021 compared to $0.22 million on 12/31/2020 and with Total assets of $12.9 million as of June 30, 2021 as compared to $7.5 Million as of Dec 31, 2020.
Total Liabilities are $3.45 Million as of 6/30/2021 compared to $6.57 million as of 12/31/2020.
Total revenue for Q2 ending 6/30/2021 was $155,000 vs $117,000 for the same period of 2020. The Operating Loss was $2 Million for Q2 2021 compared to $1.236 million for Q2 2020.
'The exercise of Cuentas warrants at the end of Q2 shows investor confidence in the Cuentas project and we intend to use these additional funds to augment our business development and market penetration.' stated Arik Maimon, Founder and Executive Chairman. 'Cuentas will continue to work towards our goal of enhancing our strategic marketing and distribution plan', added Maimon.
About Cuentas
Forward-Looking Statements
Investor Relations
Cuentas, Inc.
235 Lincoln Rd., Suite 210
Miami Beach, FL 33139
[email protected]
800-611-3622
SOURCE: Cuentas, Inc.
https://www.accesswire.com/661269/Cuentas-Files-Second-Quarter-2021-10Q-Report
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