2022 Q4 Form 10-Q Financial Statement
#000121390022071655 Filed on November 14, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
Revenue | $787.0K | $1.143M | $109.0K |
YoY Change | 656.73% | 948.62% | -16.15% |
Cost Of Revenue | $606.0K | $1.027M | $91.00K |
YoY Change | 461.11% | 1028.57% | -62.08% |
Gross Profit | $181.0K | $116.0K | $18.00K |
YoY Change | -4625.0% | 544.44% | -118.0% |
Gross Profit Margin | 23.0% | 10.15% | 16.51% |
Selling, General & Admin | $1.469M | $1.929M | $1.976M |
YoY Change | -64.97% | -2.38% | 272.83% |
% of Gross Profit | 811.6% | 1662.93% | 10977.78% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $455.0K | $453.0K | $452.0K |
YoY Change | 0.22% | 0.22% | 0.44% |
% of Gross Profit | 251.38% | 390.52% | 2511.11% |
Operating Expenses | $1.921M | $2.382M | $2.428M |
YoY Change | -58.64% | -1.89% | 147.76% |
Operating Profit | -$1.740M | -$2.266M | -$2.410M |
YoY Change | -62.57% | -5.98% | 123.15% |
Interest Expense | $10.00K | $1.000K | $5.000K |
YoY Change | 66.67% | -80.0% | -107.14% |
% of Operating Profit | |||
Other Income/Expense, Net | -$100.0K | $1.000K | -$1.000K |
YoY Change | 9900.0% | -200.0% | -105.0% |
Pretax Income | -$5.430M | -$2.265M | -$2.406M |
YoY Change | 16.93% | -5.86% | 111.05% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$5.446M | -$2.275M | -$2.406M |
YoY Change | 17.22% | -5.44% | 37.49% |
Net Earnings / Revenue | -691.99% | -199.04% | -2207.34% |
Basic Earnings Per Share | -$0.14 | -$0.16 | |
Diluted Earnings Per Share | -$3.95 | -$0.14 | -$161.5K |
COMMON SHARES | |||
Basic Shares Outstanding | 16.72M shares | 16.72M shares | 14.90M shares |
Diluted Shares Outstanding | 16.04M shares | 14.90M shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $466.0K | $2.108M | $8.751M |
YoY Change | -92.95% | -75.91% | 2400.29% |
Cash & Equivalents | $466.0K | $2.108M | $8.750M |
Short-Term Investments | $1.000K | ||
Other Short-Term Assets | $14.00K | $57.00K | $311.0K |
YoY Change | -91.36% | -81.67% | |
Inventory | |||
Prepaid Expenses | |||
Receivables | $209.0K | $264.0K | $12.00K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $689.0K | $2.429M | $9.074M |
YoY Change | -89.84% | -73.23% | 2113.17% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $6.000K | $9.000K | $4.000K |
YoY Change | 200.0% | 125.0% | -60.0% |
Goodwill | |||
YoY Change | |||
Intangibles | $28.00K | $4.080M | |
YoY Change | -99.49% | ||
Long-Term Investments | $776.0K | $892.0K | |
YoY Change | 1942.11% | ||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $810.0K | $4.981M | $5.894M |
YoY Change | -85.21% | -15.49% | -22.95% |
TOTAL ASSETS | |||
Total Short-Term Assets | $689.0K | $2.429M | $9.074M |
Total Long-Term Assets | $810.0K | $4.981M | $5.894M |
Total Assets | $1.499M | $7.410M | $14.97M |
YoY Change | -87.77% | -50.49% | 85.71% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.231M | $1.216M | $1.286M |
YoY Change | 51.98% | -5.44% | -36.96% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $109.0K | $106.0K | $96.00K |
YoY Change | 12.37% | 10.42% | -89.09% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.134M | $2.720M | $2.987M |
YoY Change | -21.52% | -8.94% | -29.72% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $89.00K | $89.00K | $89.00K |
YoY Change | 0.0% | 0.0% | -1.11% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $89.00K | $89.00K | $89.00K |
YoY Change | 0.0% | 0.0% | -1.11% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.134M | $2.720M | $2.987M |
Total Long-Term Liabilities | $89.00K | $89.00K | $89.00K |
Total Liabilities | $2.223M | $2.809M | $3.076M |
YoY Change | -20.83% | -8.68% | -29.12% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$52.75M | -$47.30M | |
YoY Change | 38.02% | ||
Common Stock | $19.00K | $17.00K | |
YoY Change | 26.67% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $29.00K | ||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$724.0K | $4.601M | $11.89M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.499M | $7.410M | $14.97M |
YoY Change | -87.77% | -50.49% | 85.71% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$5.446M | -$2.275M | -$2.406M |
YoY Change | 17.22% | -5.44% | 37.49% |
Depreciation, Depletion And Amortization | $455.0K | $453.0K | $452.0K |
YoY Change | 0.22% | 0.22% | 0.44% |
Cash From Operating Activities | -$1.614M | -$2.378M | -$2.451M |
YoY Change | -23.25% | -2.98% | 580.83% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | |
YoY Change | -100.0% | ||
Cash From Investing Activities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | -100.0% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -28.00K | 2.688M | 4.957M |
YoY Change | -45.77% | 628.97% | |
NET CHANGE | |||
Cash From Operating Activities | -1.614M | -2.378M | -2.451M |
Cash From Investing Activities | 0.000 | 0.000 | 0.000 |
Cash From Financing Activities | -28.00K | 2.688M | 4.957M |
Net Change In Cash | -1.642M | 310.0K | 2.506M |
YoY Change | -23.38% | -87.63% | 683.13% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.614M | -$2.378M | -$2.451M |
Capital Expenditures | $0.00 | $0.00 | $0.00 |
Free Cash Flow | -$1.614M | -$2.378M | -$2.451M |
YoY Change | -23.25% | -2.98% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2022-09-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
001-39973 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
CUENTAS, INC. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
FL | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
20-3537265 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
235 Lincoln Rd. | ||
dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Suite 210 | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Miami Beach | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
FL | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
33139 | ||
dei |
Security12b Title
Security12bTitle
|
Common Stock, par value $0.001 per share | ||
dei |
Trading Symbol
TradingSymbol
|
CUEN | ||
dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
dei |
Entity Shell Company
EntityShellCompany
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Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
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Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
2108000 | usd |
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Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
6607000 | usd |
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Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
264000 | usd |
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Accounts Receivable Net Current
AccountsReceivableNetCurrent
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11000 | usd |
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Other Assets Current
OtherAssetsCurrent
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57000 | usd |
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Other Assets Current
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Assets Current
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Assets Current
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Property Plant And Equipment Net
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Property Plant And Equipment Net
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Investments In Affiliates Subsidiaries Associates And Joint Ventures
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Investments In Affiliates Subsidiaries Associates And Joint Ventures
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38000 | usd |
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Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
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4080000 | usd |
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Intangible Assets Net Excluding Goodwill
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Assets
Assets
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Common Stock Par Or Stated Value Per Share
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Common Stock Par Or Stated Value Per Share
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Assets
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Accounts Payable Current
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Deferred Compensation Share Based Arrangements Liability Current
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Other Long Term Debt Noncurrent
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Liabilities
Liabilities
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Liabilities
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Common Stock Shares Authorized
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Retained Earnings Accumulated Deficit
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Retained Earnings Accumulated Deficit
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Revenues
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Revenues
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Revenues
Revenues
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Revenues
Revenues
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Cost Of Goods And Services Sold
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Gross Profit
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Gross Profit
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Gross Profit
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Amortization Of Intangible Assets
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Amortization Of Intangible Assets
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Amortization Of Intangible Assets
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Operating Expenses
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Operating Expenses
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Operating Income Loss
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Amortization Of Intangible Assets
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Selling General And Administrative Expense
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Selling General And Administrative Expense
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Interest Income Expense Net
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Interest Income Expense Net
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Gain On Fair Value Measurement Of Stock Based Liabilities
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|
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Gain On Fair Value Measurement Of Stock Based Liabilities
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|
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Gain On Fair Value Measurement Of Stock Based Liabilities
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|
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Nonoperating Income Expense
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|
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Nonoperating Income Expense
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Nonoperating Income Expense
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|
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us-gaap |
Nonoperating Income Expense
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|
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Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
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Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
|
-2406000 | usd |
us-gaap |
Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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|
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Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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|
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Net Income Loss Attributable To Noncontrolling Interest
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|
10000 | usd |
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Net Income Loss Attributable To Noncontrolling Interest
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|
36000 | usd | |
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Net Income Loss
NetIncomeLoss
|
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Net Income Loss
NetIncomeLoss
|
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Net Income Loss
NetIncomeLoss
|
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us-gaap |
Net Income Loss
NetIncomeLoss
|
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Earnings Per Share Basic
EarningsPerShareBasic
|
-0.14 | |
CY2021Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.16 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.59 | ||
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.45 | ||
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16037103 | shares |
CY2021Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
14896717 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
15352807 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
13564928 | shares | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9450000 | usd |
us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
1548000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-9085000 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4601000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3844000 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
344000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2275000 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4601000 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
931000 | usd |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-6523000 | usd | |
us-gaap |
Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
|
4000 | usd | |
us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
579000 | usd | |
cuen |
Shares Issued Due To Exercise Of Warrants Net Of Issuance Expenses
SharesIssuedDueToExerciseOfWarrantsNetOfIssuanceExpenses
|
5765000 | usd | |
us-gaap |
Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
|
81000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-6082000 | usd | |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11892000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
9482000 | usd |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
|
255000 | usd |
CY2021Q3 | cuen |
Shares Issued Due To Exercise Of Warrants Net Of Issuance Expenses
SharesIssuedDueToExerciseOfWarrantsNetOfIssuanceExpenses
|
4561000 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2406000 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
11892000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
9085000 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
6082000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1548000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
541000 | usd | |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-36000 | usd | |
cuen |
Available For Sale Securitie
AvailableForSaleSecuritie
|
-2000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
9000 | usd | |
us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
89000 | usd | |
cuen |
Gain From Changes In On Fair Value Of Stockbased Liabilities
GainFromChangesInOnFairValueOfStockbasedLiabilities
|
2000 | usd | |
cuen |
Gain From Changes In On Fair Value Of Stockbased Liabilities
GainFromChangesInOnFairValueOfStockbasedLiabilities
|
56000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1358000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1357000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
486000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
12000 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-105000 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
299000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
406000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1567000 | usd | |
cuen |
Increase Decrease In Other Account Payable
IncreaseDecreaseInOtherAccountPayable
|
-136000 | usd | |
cuen |
Increase Decrease In Other Account Payable
IncreaseDecreaseInOtherAccountPayable
|
-1262000 | usd | |
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
44000 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-276000 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
18000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7227000 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
47000 | usd | |
us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
|
657000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
7000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-664000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-47000 | usd | |
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
355000 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
6264000 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
730000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2688000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10614000 | usd | |
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
4000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
15797000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2688000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-4499000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
8523000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6607000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
227000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
2108000 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
8750000 | usd |
cuen |
Common Stock Issued For Settlement Of Stockbased Liabilities
CommonStockIssuedForSettlementOfStockbasedLiabilities
|
81000 | usd | |
us-gaap |
Stock Issued1
StockIssued1
|
233000 | usd | |
cuen |
Issuance Fee With Connection To Issuance Of Common Stock Due To Exercise Of Warrants
IssuanceFeeWithConnectionToIssuanceOfCommonStockDueToExerciseOfWarrants
|
499000 | usd | |
CY2022Q3 | cuen |
Cuentas Sdi Network Of Over Bodegas
CuentasSDINetworkOfOverBodegas
|
31000 | pure |
CY2022Q3 | cuen |
Cuentas Accountholders Expenses
CuentasAccountholdersExpenses
|
500 | usd |
CY2005Q3 | cuen |
Subsidiary Of Limited Liability Company Or Limited Partnerships Ownership Interests
SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipsOwnershipInterests
|
1 | pure |
CY2022Q2 | cuen |
Subsidiary Of Limited Liability Company Or Limited Partnerships Ownership Interests
SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipsOwnershipInterests
|
0.8001 | pure |
CY2022Q2 | cuen |
Additional Purchase Price
AdditionalPurchasePrice
|
2459000000 | usd |
CY2022Q2 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.40 | pure |
CY2022Q3 | cuen |
Acquire Interests Percentage
AcquireInterestsPercentage
|
0.8001 | pure |
CY2022Q3 | us-gaap |
Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
|
2108000 | usd |
cuen |
Working Capital
WorkingCapital
|
291000 | usd | |
CY2022Q3 | us-gaap |
Retained Earnings Unappropriated
RetainedEarningsUnappropriated
|
47304000 | usd |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="text-decoration:underline">Use of Estimates</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, certain revenues and expenses, and disclosure of contingent assets and liabilities as of the date of the financial statements. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | ||
CY2021Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
683000 | usd |
cuen |
Change In Deferred Revenue
ChangeInDeferredRevenue
|
-276000 | usd | |
CY2022Q3 | us-gaap |
Deferred Revenue
DeferredRevenue
|
407000 | usd |
us-gaap |
Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
|
407000 | usd | |
CY2022Q3 | cuen |
Revenue Remaining Performances Obligation Percentage
RevenueRemainingPerformancesObligationPercentage
|
1 | pure |
CY2022Q3 | us-gaap |
Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
|
1000 | usd |
CY2021Q4 | us-gaap |
Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
|
3000 | usd |
CY2021Q4 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberBeginning
|
1585200 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.69 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
400000 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.8 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
215000 | shares | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
2.8 | ||
CY2022Q3 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberBeginning
|
1770200 | shares |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.44 | |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
160000 | shares |
CY2022Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P3Y | |
CY2022Q2 | cuen |
Fair Value Options
FairValueOptions
|
134000 | usd |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
|
50000 | shares |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
213000 | usd |
cuen |
Schedule Of Related Party Payables Net Of Discounts Text Table Block
ScheduleOfRelatedPartyPayablesNetOfDiscountsTextTableBlock
|
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap"> </td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">September 30,<br/> 2022</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2021</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(dollars in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; padding-bottom: 1.5pt">(a) Due to Cima Telecom Inc.</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-61"> -</div></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"> 417</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; padding-bottom: 4pt">Total Due to related parties</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-62">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">417</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | ||
CY2021Q4 | us-gaap |
Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
|
417000 | usd |
CY2022Q3 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
40000 | usd |
CY2021Q3 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
552000 | usd |
CY2022Q3 | cuen |
Annual Fees
AnnualFees
|
700000 | usd |
cuen |
Annual Fees
AnnualFees
|
375000 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
242000 | usd | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
147000 | usd | |
CY2021Q1 | cuen |
Consulting Service
ConsultingService
|
30000 | usd |
CY2022Q3 | us-gaap |
Due To Related Parties Noncurrent
DueToRelatedPartiesNoncurrent
|
usd | |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
CY2022Q3 | cuen |
Directorship Fees
DirectorshipFees
|
383000 | usd |
CY2021Q3 | cuen |
Directorship Fees
DirectorshipFees
|
260000 | usd |
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
usd | ||
CY2017Q4 | cuen |
Legal Settlement Alleging Claim
LegalSettlementAllegingClaim
|
On December 20, 2017, a complaint was filed by J. P. Carey Enterprises, Inc. (“JP Carey”) alleging a claim for $473 related to Franjose Yglesias-Bertheau, a former Vice President of PLKD. Even though the Company made the agreed payment of $10on January 2, 2017 and issued 6,001 shares of Common Stock as conversion of the $70,000 note as agreed in its settlement agreement, JP Carey alleges damages that the Company claims are without merit because JP Carey received full compensation as agreed. | |
CY2019Q1 | cuen |
New Claimed Damages Total
NewClaimedDamagesTotal
|
1108000 | usd |
CY2022Q3 | cuen |
Fee And Cost
FeeAndCost
|
40000 | usd |
CY2022Q2 | us-gaap |
Litigation Settlement Amount Awarded From Other Party
LitigationSettlementAmountAwardedFromOtherParty
|
32000 | usd |
CY2019Q2 | us-gaap |
Product Liability Contingency Description
ProductLiabilityContingencyDescription
|
1, 2019, the Company received a notice of demand for arbitration from Secure IP Telecom, Inc. (“Secure IP), who allegedly had a Reciprocal Carrier Services Agreement (“RCS”) exclusively with Limecom and not with the Company. The arbitration demand originated from another demand for arbitration that Secure IP received from VoIP Capital International (“VoIP”) in March 2019, demanding $1,053 in damages allegedly caused by unpaid receivables that Limecom assigned to VoIP based on the RCS. On or about October 5, 2020, the trial court appointed a receiver over Limecom, Inc. (“Limecom”) in the matter of Spectrum Intelligence Communications Agency, LLC. v. Limecom, Inc., case no. 2018-027150-CA-01 pending in the 11th Circuit for Miami-Dade County, Florida. On June 5, 2020, Secure IP Telecom, Inc. (“Secure IP”) filed a complaint against Limecom, Heritage Ventures Limited (“Heritage”), an unrelated third party and owner of Limecom, and the Company, case no. 20-11972-CA-01. Secure IP alleges that the Company received certain transfers from Limecom during the period that the Company wholly owned Limecom that may be an avoidable under Florida Statute § 725.105. On July 13, 2021, the two cases were consolidated, and are now pending before the same trial court under the former case number. The Company has answered and denied any liability with respect to both complaints. To the extent the Company has exposure for any transfers from Limecom, Heritage has indemnified the Company for any such liability and the Company has a pending cross-claim against Heritage for purposes of enforcing the indemnification obligation. A review of the books and records of the Company reflect aggregate transfers from Limecom to the Company or its affiliates of less than $600,000. The Company’s books and records reflect that the Company fully reimbursed Limecom through direct payment of expenses of Limecom and through issuance of shares by the Company to employees or other vendors on behalf of Limecom for settlement and release of claims the employees or vendors may have asserted against Limecom. The books and records of the Company therefore do not reflect an identifiable avoidable transfer, but this analysis may change as the discovery process continues. At this time, based upon an analysis of the Company’s books and records, the loss contingency is not capable of reasonable estimation under the above circumstances, and the likelihood of an adverse judgment is not probable at this time. An adverse judgment in this matter is reasonably possible and based upon an analysis of litigation costs and likelihood of a settlement, the undersigned recommends a litigation reserve of $200 to $300 thousand. | |
cuen |
Accrued Amount
AccruedAmount
|
300000 | usd | |
CY2022Q2 | cuen |
Company Financial Institution
CompanyFinancialInstitution
|
On May 25, 2022, the Company received a notice of default from CIMA Telecom, Inc. (“CIMA”) related to that certain Platform Exclusive License Agreement, maintenance, and related agreements by and among Cuentas, CIMA, Knetik, Inc., and Auris, LLC. The notice provides that Cuentas has failed to pay $700,000 of maintenance and pass-through fees that CIMA alleges are owed under the License Agreement and also afforded Cuentas the required sixty-day period (through July 24, 2022) to cure the default as provided under the License Agreement.. On August 2, 2022, the Company and CIMA, along with two of CIMA’s wholly-owned subsidiaries, Knetik, Inc. and Auris, LLCexecuted a Settlement Agreement and General Release which resolves the issues related to the July 8, 2022 notice of default from CIMA related to that certain Platform Exclusive License Agreement, maintenance, and related agreements by and among Cuentas, CIMA, Knetik, Inc., and Auris, LLC. The Parties executed Mutual General Releases and the settlement terms are as follows: In exchange for the consideration provided in the Settlement Agreement, (1) the Company paid CIMA $350,000.00 on August 2, 2022 and (2) on or before 5:00 p.m New York City time, on August 15, 2022, Cuentas will pay CIMA the balance of the Unpaid Fees ($420,239.78) by wire transfer (3) Cuentas will a period of 30 days from execution date, the exclusive right to facilitate a third party (including to current shareholders and directors of Cuentas) purchase (without markup or broker fee) of, all of the shares of Cuentas held by CIMA at the higher of: (i) the average per share trading price for the three day average before notice in writing is provided by Cuentas of the intent to purchase CIMA’s Cuentas shares, or (ii) the minimum price of $0.50 per share on or before 5:00 p.m. New York City time, on August 31, 2022 pursuant to a purchase agreement delivered by and acceptable to CIMA without any changes thereto (provided, that CIMA shall not be required to provide any representations or warranties other than fundamental warranties related to (a) organization and good standing, (b) power and authority to undertake the transaction and (c) ownership of such shares, and ordinary representations and warranties that the Cuentas shares are being transferred free and clear of any liens, claims, or encumbrances); and (iv) on or before 5:00 p.m. New York City time, on August 2, 2022, Cuentas shall, and shall cause (x) Dinar Zuz, LLC, (y) Michael De Prado and (z) Arik Maimon to provide signed waiver letters, expressly waiving any right of first refusal and co-sale rights granted in their favor under that certain letter agreement, dated December 31, 2019, by and among CIMA, Dinar Zuz, LLC, Michael Del Prado and Arik Maimon, and (y) CIMA agrees: (i) to restore immediately Cuentas’ access to the Platform upon receipt of the $350,000.00 payment ; (ii) to provide Cuentas with a limited license to utilize the Platform the terms of which are detailed specifically in Section 6 of the agreement, and to use reasonable efforts, subject to Cuentas’ compliance hereto, to provide Cuentas’ customer data to Cuentas through the end of the limited license term described below in Section 6 of the agreement; (iii) deliver to Cuentas the Source Code (as that term is defined in paragraph 1.18 of the License Agreement) relating to Out-Of-Scope Services, and as further detailed in Section 6 of the agreement; (iv) not enforce its rights under the Side Letter (as that term is defined in the paragraph 1.1 of the Purchase Agreement) through and including August 31, 2022, and (v) shall not transfer, sell, or encumber its Cuentas shares through and including August 31, 2022, except as permitted herein. Cuentas acknowledges and agrees that the amount of Unpaid Fees ($770,239.78) is valid and outstanding, and waives any right to dispute them. If Cuentas fails to comply with any term of this Settlement Agreement, in addition to the Stipulated Judgment described in Section 5 of the agreement, the limited license set forth in Section 6 and any of CIMA’s obligations under this Settlement Agreement shall become null and CIMA shall have the right to shut off Cuentas access to the Platform without notice. The Settlement Agreement also provides for mutual general releases by Cuentas for the benefit of CIMA and by CIMA for the benefit of Cuentas of all claims other than claims relating to a breach of the Settlement Agreement. The settlement agreement by its terms in effect terminates the obligations under the license agreement, dated December 31, 2019 by and between Cuentas and CIMA. | |
CY2021Q2 | us-gaap |
Payments For Rent
PaymentsForRent
|
7000 | usd |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
usd | ||
us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
usd | ||
cuen |
Common Stock Issued For Settlement Of Stockbased Liabilities
CommonStockIssuedForSettlementOfStockbasedLiabilities
|
usd | ||
us-gaap |
Stock Issued1
StockIssued1
|
usd | ||
cuen |
Issuance Fee With Connection To Issuance Of Common Stock Due To Exercise Of Warrants
IssuanceFeeWithConnectionToIssuanceOfCommonStockDueToExerciseOfWarrants
|
usd | ||
CY2022Q3 | cuen |
Aggregate Shares
AggregateShares
|
1655000 | shares |
CY2022Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q3 | us-gaap |
Other Expenses
OtherExpenses
|
3000000 | usd |
CY2022Q3 | us-gaap |
Proceeds From Other Equity
ProceedsFromOtherEquity
|
2700000 | usd |
dei |
Local Phone Number
LocalPhoneNumber
|
611-3622 | ||
dei |
City Area Code
CityAreaCode
|
800 | ||
CY2021Q3 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
usd | |
us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
usd | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
15352807 | shares | |
CY2022Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
16037103 | shares |
us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
usd | ||
cuen |
Available For Sale Securitie
AvailableForSaleSecuritie
|
usd | ||
us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
usd | ||
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
usd | ||
us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
|
usd | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | ||
us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001424657 |