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Cuentas Inc., a Miami Beach-based wholesale grocery distributor whose stock has declined over 93% year-to-date according to InvestingPro data, has made several strategic moves including a joint venture formation, asset disposition, and debt settlements, according to an 8-K filing with the SEC. On April 21, 2025, Cuentas entered into a joint venture with UK’s World Mobile Group Ltd. to establish World Mobile LLC, which will operate as a mobile virtual network operator (MVNO). Cuentas holds a 51% interest in the JV, while World Mobile Group holds 49%.
The JV’s managing member, appointed by World Mobile Group, will oversee the business, which will allocate 85% of profits and cash distributions to World Mobile Group and 15% to Cuentas. As part of the agreement, Cuentas contributed its MVNO rights to the JV, and World Mobile Group injected $300,000 in capital. InvestingPro data reveals the company’s financial health score is currently rated as WEAK, with negative cash returns on invested capital.
In addition, Cuentas sold its 63.9% interest in Brooksville Development Partners, LLC to Brooksville FL Partners, LLC for $800,000 on May 22, 2025. This sale will enable Cuentas to resolve four outstanding judgments or debts.
Cuentas also reached settlements with various creditors, including a $453,856.68 judgment held by Crosshair Media Placement, LLC, for which Cuentas’ President and CEO provided a personal guarantee. Other settlements included agreements with 1800 Diagonal Lending, LLC for $112,500, Alexandra Calicchio for $28,000, and EAdvance Services LLC for $60,000.
These financial maneuvers are part of Cuentas’ broader strategy to streamline operations and reduce liabilities. The information provided is based on the company’s recent SEC filing. With the company showing high price volatility and negative free cash flow of over $3 million in the last twelve months, InvestingPro subscribers can access 6 additional key tips and comprehensive financial metrics to better understand the company’s restructuring efforts.
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