2023 Q1 Form 10-K Financial Statement
#000121390023025603 Filed on March 31, 2023
Income Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
Revenue | $64.00K | $787.0K | $2.994M |
YoY Change | -83.76% | 656.73% | 404.89% |
Cost Of Revenue | $123.0K | $606.0K | $2.508M |
YoY Change | -52.69% | 461.11% | 434.75% |
Gross Profit | -$59.00K | $181.0K | $486.0K |
YoY Change | -144.03% | -4625.0% | 291.94% |
Gross Profit Margin | -92.19% | 23.0% | 16.23% |
Selling, General & Admin | $1.625M | $1.469M | $9.431M |
YoY Change | -50.59% | -64.97% | 5.02% |
% of Gross Profit | 811.6% | 1940.53% | |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $2.000K | $455.0K | $1.813M |
YoY Change | -99.56% | 0.22% | 0.11% |
% of Gross Profit | 251.38% | 373.05% | |
Operating Expenses | $1.627M | $1.921M | $14.84M |
YoY Change | -56.52% | -58.64% | 37.56% |
Operating Profit | -$1.686M | -$1.740M | -$14.36M |
YoY Change | -53.27% | -62.57% | 34.6% |
Interest Expense | -$1.000K | $10.00K | $8.000K |
YoY Change | 0.0% | 66.67% | -112.9% |
% of Operating Profit | |||
Other Income/Expense, Net | $65.00K | -$100.0K | -$132.0K |
YoY Change | 9900.0% | -13300.0% | |
Pretax Income | -$1.686M | -$5.430M | $14.48K |
YoY Change | -53.28% | 16.93% | -100.13% |
Income Tax | $0.00 | ||
% Of Pretax Income | 0.0% | ||
Net Earnings | -$1.695M | -$5.446M | -$14.53M |
YoY Change | -53.23% | 17.22% | 35.45% |
Net Earnings / Revenue | -2648.44% | -691.99% | -485.34% |
Basic Earnings Per Share | -$1.00 | -$11.81 | |
Diluted Earnings Per Share | -$1.00 | -$3.95 | -$11.81 |
COMMON SHARES | |||
Basic Shares Outstanding | 2.104M shares | 16.72M shares | 1.231M shares |
Diluted Shares Outstanding | 1.696M shares | 1.231M shares |
Balance Sheet
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $3.328M | $466.0K | $466.0K |
YoY Change | -23.23% | -92.95% | -92.95% |
Cash & Equivalents | $3.328M | $466.0K | $466.0K |
Short-Term Investments | |||
Other Short-Term Assets | $52.00K | $14.00K | $14.00K |
YoY Change | -72.92% | -91.36% | -91.36% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $221.0K | $209.0K | $209.0K |
Other Receivables | $88.00K | $0.00 | $0.00 |
Total Short-Term Assets | $3.689M | $689.0K | $689.0K |
YoY Change | -20.13% | -89.84% | -89.84% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $6.000K | $6.000K | $6.000K |
YoY Change | -33.33% | 200.0% | 200.0% |
Goodwill | |||
YoY Change | |||
Intangibles | $26.00K | $28.00K | |
YoY Change | -99.49% | ||
Long-Term Investments | $1.468M | $776.0K | $776.0K |
YoY Change | 2230.16% | 1942.11% | 1942.11% |
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $1.500M | $810.0K | $810.0K |
YoY Change | -70.34% | -85.21% | -85.21% |
TOTAL ASSETS | |||
Total Short-Term Assets | $3.689M | $689.0K | $689.0K |
Total Long-Term Assets | $1.500M | $810.0K | $810.0K |
Total Assets | $5.189M | $1.499M | $1.499M |
YoY Change | -46.37% | -87.77% | -87.77% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.224M | $1.231M | $1.231M |
YoY Change | -20.36% | 51.98% | 51.98% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $112.0K | $109.0K | $109.0K |
YoY Change | 12.0% | 12.37% | 12.37% |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $2.221M | $2.134M | $2.134M |
YoY Change | -31.11% | -21.52% | -21.52% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $89.00K | $89.00K | $89.00K |
YoY Change | 0.0% | 0.0% | 0.0% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $89.00K | $89.00K | $89.00K |
YoY Change | 0.0% | 0.0% | 0.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.221M | $2.134M | $2.134M |
Total Long-Term Liabilities | $89.00K | $89.00K | $89.00K |
Total Liabilities | $2.310M | $2.223M | $2.223M |
YoY Change | -30.27% | -20.83% | -20.83% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$54.45M | -$52.75M | |
YoY Change | 38.02% | ||
Common Stock | $2.000K | $19.00K | |
YoY Change | 26.67% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $33.00K | $29.00K | |
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $2.879M | -$724.0K | -$724.0K |
YoY Change | |||
Total Liabilities & Shareholders Equity | $5.189M | $1.499M | $1.499M |
YoY Change | -46.37% | -87.77% | -87.77% |
Cashflow Statement
Concept | 2023 Q1 | 2022 Q4 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.695M | -$5.446M | -$14.53M |
YoY Change | -53.23% | 17.22% | 35.45% |
Depreciation, Depletion And Amortization | $2.000K | $455.0K | $1.813M |
YoY Change | -99.56% | 0.22% | 0.11% |
Cash From Operating Activities | -$1.453M | -$1.614M | -$8.137M |
YoY Change | -34.7% | -23.25% | -12.79% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $7.000K | |
YoY Change | -114.89% | ||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $0.00 | -$657.0K |
YoY Change | -100.0% | -100.0% | 1542.5% |
Cash From Investing Activities | $0.00 | -$664.0K | |
YoY Change | -100.0% | 663.22% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $4.315M | -28.00K | $2.660M |
YoY Change | -83.16% | ||
NET CHANGE | |||
Cash From Operating Activities | -$1.453M | -1.614M | -$8.137M |
Cash From Investing Activities | 0.000 | -$664.0K | |
Cash From Financing Activities | $4.315M | -28.00K | $2.660M |
Net Change In Cash | $2.862M | -1.642M | -$6.141M |
YoY Change | -23.38% | -196.25% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.453M | -$1.614M | -$8.137M |
Capital Expenditures | $0.00 | $7.000K | |
Free Cash Flow | -$1.453M | -$1.614M | -$8.144M |
YoY Change | -34.49% | -23.25% | -12.27% |
Facts In Submission
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---|---|---|---|---|
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Document Type
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10-K | |
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Document Period End Date
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2022-12-31 | |
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--12-31 | |
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2022 | |
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333-148987 | |
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CUENTAS, INC. | |
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FL | |
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20-3537265 | |
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235 Lincoln Rd. | |
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Suite 210 | |
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Miami Beach | |
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FL | |
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33139 | |
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800 | |
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611-3622 | |
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Common Stock, par value $0.001 per share | |
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CUEN | |
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Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-52000 | usd |
CY2021 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-2000 | usd |
CY2021 | cuen |
Available For Sale Securitie
AvailableForSaleSecuritie
|
-3000 | usd |
CY2022 | cuen |
Loan To Cuentas
LoanToCuentas
|
-100000 | usd |
CY2022 | us-gaap |
Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
|
-157000 | usd |
CY2022 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
12000 | usd |
CY2021 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
90000 | usd |
CY2022 | cuen |
Gain From Changes In On Fair Value Of Stockbased Liabilities
GainFromChangesInOnFairValueOfStockbasedLiabilities
|
3000 | usd |
CY2021 | cuen |
Gain From Changes In On Fair Value Of Stockbased Liabilities
GainFromChangesInOnFairValueOfStockbasedLiabilities
|
61000 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
3000 | usd |
CY2021 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
2000 | usd |
CY2022 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
3600000 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1810000 | usd |
CY2021 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1809000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
274000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
11000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-148000 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
150000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
421000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1544000 | usd |
CY2021 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
44000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
445000 | usd |
CY2021 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-1562000 | usd |
CY2022 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-570000 | usd |
CY2021 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
31000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8137000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9330000 | usd |
CY2022 | us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
|
657000 | usd |
CY2021 | us-gaap |
Payments To Acquire Longterm Investments
PaymentsToAcquireLongtermInvestments
|
40000 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
7000 | usd |
CY2021 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
47000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-664000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-87000 | usd |
CY2021 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
730000 | usd |
CY2021 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
355000 | usd |
CY2022 | cuen |
Purchase Of Treasury Stock
PurchaseOfTreasuryStock
|
29000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
4000 | usd |
CY2022 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2689000 | usd |
CY2021 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
6264000 | usd |
CY2021 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
10614000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2660000 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
15797000 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-6141000 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
6380000 | 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 |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
466000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6607000 | usd |
CY2021 | cuen |
Common Stock Issued For Settlement Of Stockbased Liabilities
CommonStockIssuedForSettlementOfStockbasedLiabilities
|
81000 | usd |
CY2022 | us-gaap |
Stock Issued1
StockIssued1
|
233000 | usd |
CY2021 | cuen |
Issuance Fee With Connection To Issuance Of Common Stock Due To Exercise Of Warrants
IssuanceFeeWithConnectionToIssuanceOfCommonStockDueToExerciseOfWarrants
|
499000 | usd |
CY2022Q4 | cuen |
Cuentas Sdi Network Of Over Bodegas
CuentasSDINetworkOfOverBodegas
|
31000 | pure |
CY2022Q4 | cuen |
Cuentas Accountholders Expenses
CuentasAccountholdersExpenses
|
500000 | usd |
CY2005Q3 | cuen |
Subsidiary Of Limited Liability Company Or Limited Partnerships Ownership Interests
SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipsOwnershipInterests
|
1 | pure |
CY2022 | us-gaap |
Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
|
100 | usd |
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 |
CY2021 | us-gaap |
Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
|
260854 | shares |
CY2021 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
121938 | shares |
CY2021Q1 | cuen |
Reverse Stock Split Description
ReverseStockSplitDescription
|
As a result of the reverse stock split, the following changes have occurred (i) every thirteen shares of common stock have been combined into one share of common stock; (ii) the number of shares of common stock underlying each common stock option or common stock warrant have been proportionately decreased on a 13-for-1 basis, and the exercise price of each such outstanding stock option and common warrant has been proportionately increased on a 13-for-1 basis. Accordingly, all option numbers, share numbers, warrant numbers, share prices, warrant prices, exercise prices and losses per share have been adjusted within these consolidated financial statements, on a retroactive basis, to reflect this 13-for-1 reverse stock split. | |
CY2022Q4 | us-gaap |
Other Cash Equivalents At Carrying Value
OtherCashEquivalentsAtCarryingValue
|
466000 | usd |
CY2022 | cuen |
Working Capital
WorkingCapital
|
1445000 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Unappropriated
RetainedEarningsUnappropriated
|
724000 | usd |
CY2022 | cuen |
Accumulated Deficit
AccumulatedDeficit
|
52750000 | usd |
CY2021Q1 | cuen |
Description Of License Agreement
DescriptionOfLicenseAgreement
|
Pursuant to the Underwriting Agreement, the Company also agreed to issue to Maxim warrants (the “Underwriter’s Warrants”) to purchase up to a total of 17,174 shares of Common Stock (8% of the shares of Common Stock sold in the Offering). | |
CY2022 | cuen |
Warrant Term
WarrantTerm
|
P5Y | |
CY2022Q4 | cuen |
Offering Costs
OfferingCosts
|
1400000 | usd |
CY2022Q3 | cuen |
Purchase Agreement Description
PurchaseAgreementDescription
|
the Company, entered into a Securities Purchase Agreement (“Purchase Agreement”) with an institutional investor (the “Purchaser”) pursuant to which the Purchaser agreed to purchase, and the Company agreed to issue and sell to the Purchaser in a private placement, an aggregate of 127,308 shares of the Company’s common stock, $0.001 par value, pre-funded warrants to purchase up to 197,620 shares of Common and warrants to purchase up to 324,928 shares of Common Stock. The purchase price per Share and associated Common Stock Warrant was $9.23 and the purchase price per Pre Funded Warrant and associated Common Stock Warrant was $9.23. Each Common Stock Warrant entitles the holder to purchase one share of Common Stock at an exercise price of $7.67 per share. Each Pre Funded Warrant entitles the holder to purchase one share of Common Stock at an exercise price of $0.0001 per share. The Common Stock Warrants are exercisable for a period of five years and six months commencing on the issuance date and the Pre Funded Warrants are exercisable until exercised. The Warrants also contain customary beneficial ownership limitations that may be waived at the option of each holder upon 61 days’ notice to the Company. The Private Placement closed on August 8, 2022. | |
CY2022Q3 | us-gaap |
Other Ownership Interests Offering Costs
OtherOwnershipInterestsOfferingCosts
|
3000000 | usd |
CY2022Q3 | cuen |
Gross Proceeds Percentage
grossProceedsPercentage
|
0.07 | pure |
CY2022Q3 | us-gaap |
Debt Conversion Converted Instrument Warrants Or Options Issued1
DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1
|
22745 | shares |
CY2022Q3 | cuen |
Class Of Warrant Or Righst Date From Which Warrants Or Rights Exercisables
ClassOfWarrantOrRighstDateFromWhichWarrantsOrRightsExercisables
|
P5Y | |
CY2022Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
11.54 | |
CY2022 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Use of Estimates</span></span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (“‘US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. As applicable to the consolidated financial statements, the most significant estimates and assumptions relate to allowances for impairment of intangible assets and fair value of stock-based compensation and fair value calculations related to embedded derivative features of outstanding convertible notes payable.</span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Reclassification of Prior Year Presentation</span></span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations.</span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2021 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
177000 | usd |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
20000 | usd |
CY2022 | us-gaap |
Impairment Losses Related To Real Estate Partnerships
ImpairmentLossesRelatedToRealEstatePartnerships
|
3600000 | usd |
CY2022 | us-gaap |
Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
|
615 | shares |
CY2022 | us-gaap |
Revenue Recognition Allowances
RevenueRecognitionAllowances
|
<p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline">Revenue Recognition </span></span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company follows paragraph 605-10-S99 of the FASB Accounting Standards Codification for revenue recognition. The Company will recognize revenue when it is realized or realizable and earned. The Company considers revenue realized or realizable and earned when all the following criteria are met: (i) persuasive evidence of an arrangement exists, (ii) the product has been shipped or the services have been rendered to the customer, (iii) the sales price is fixed or determinable and (iv) collectability is reasonably assured. The Company primarily generates revenues through the brokering of sales of minutes from one telecommunications carrier to another and to a lesser extent the sales of prepaid calling minutes to consumers through its Tel3 division. While the Company collects payment for such minutes in advance, revenue is recognized upon delivery to and consumption of minutes by the consumer. Minutes are forfeited buy the consumer after twelve consecutive months of non-use at which point the Company recognizes revenue from the forfeiture of prepaid minutes.</span></p><p style="font: 10pt Times New Roman, Times, Serif; padding-left: 0pt; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company is also recognize revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (ASC 606), when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expect to receive in exchange for those goods or services. To determine whether arrangements are within the scope of ASC 606, the Company perform the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies its performance obligation. The Company apply the five-step model to contracts when it is probable that the Company will collect the consideration the Company are entitled to in exchange for the goods or services the Company transfer to the customer. At contract inception, once the contract is determined to be within the scope of this guidance, the Company assessed the goods or services promised within each contract and identify, as a performance obligation, and assess whether each promised good or service is distinct. The Company then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied.<b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; padding-left: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
CY2022 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
128477 | shares |
CY2021 | us-gaap |
Advertising Expense
AdvertisingExpense
|
1000 | usd |
CY2020 | us-gaap |
Advertising Expense
AdvertisingExpense
|
37000 | usd |
CY2021Q3 | us-gaap |
Obligation With Joint And Several Liability Arrangement Description
ObligationWithJointAndSeveralLiabilityArrangementDescription
|
Each of the Company and WaveMAX agrees to fund $120,000 (for a total of $240,000) initially upon execution of the Agreement. In addition, each of Cuentas and WaveMAX has agreed to fund an additional $127,500 over the succeeding five months, in each case, subject to approval of each party’s board of directors. The expenses of the JV Project shall include acquiring the Access Points hardware, the installation and configuration of the Access Points hardware for use with the broadband internet service at each Retail Location, entering into the necessary agreements with the Retail Locations, instore marketing and promotion of the WSN program, and expenses relating to commercialization of the digital advertising program. The Board of Directors of CUENTASMAX shall initially be comprised of four persons, two designated by Cuentas, one designated by WaveMAX, and one designated by Execon. The officers of CUENTASMAX shall be the persons from time to time designated by mutual agreement of Cuentas and WaveMAX, with the initial officers to be determined. Up to 1,000 high traffic, prime location convenience stores and “bodegas” (small community markets) will be signed up in conjunction with Cuentas’ distribution network that sells prepaid debit card, e-store, e-wallet and digital services. A fee of 2% (two percent) of the Net Revenue of CUENTASMAX will be paid by CUENTASMAX on a monthly basis as a commission to Innovateur Management SAPI de CV. WaveMax and Innovateur Management, SAPI de CV will be included in the Cuentas Share Incentive plan subject to approval by the Cuentas BOD and approval by Cuentas shareholders and Side Letter Participants at the next scheduled Annual Shareholders meeting. WaveMAX grants CUENTASMAX exclusive rights to use and deploy the WaveMAX Technology, including any and all patents owned or to be owned by WaveMAX and any and all related enhancements or applications of the WaveMAX Technology and any and all prior and subsequent improvements and/or new technology developed by WaveMAX solely in Cuentas BODEGAS network throughout the United States. The parties have agreed to expand CUENTASMAX to other areas of the US once the current deployment is in progress or has been completed. As of December 31,2022, the Company funded $80 in CUENTASMAX and recorded equity losses in the amount of $58. | |
CY2022Q2 | us-gaap |
Acquisition Cost Ratio
AcquisitionCostRatio
|
0.1999 | pure |
CY2022Q2 | cuen |
Addition Loan Amount
AdditionLoanAmount
|
750000000 | usd |
CY2022Q2 | cuen |
Loan Amount
LoanAmount
|
100000000 | usd |
CY2019Q4 | us-gaap |
Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
|
9000000 | usd |
CY2019Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
|
0.25 | pure |
CY2022 | us-gaap |
Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
|
9000000 | usd |
CY2022Q4 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
|
9000000 | usd |
CY2022 | us-gaap |
Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
|
P60M | |
CY2021Q1 | us-gaap |
Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
|
47000 | usd |
CY2021Q1 | us-gaap |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
|
47000 | usd |
CY2021Q1 | us-gaap |
Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
|
P60M | |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
|
10000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
|
10000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
|
8000 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
|
28000 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1810000 | usd |
CY2021 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1809000 | usd |
CY2022 | us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
3600 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
309000 | usd |
CY2021Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
1063000 | usd |
CY2022Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
105000 | usd |
CY2021Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
63000 | usd |
CY2022Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
267000 | usd |
CY2022Q4 | cuen |
Total Other Accounts Liabilities
TotalOtherAccountsLiabilities
|
681000 | usd |
CY2021Q4 | cuen |
Total Other Accounts Liabilities
TotalOtherAccountsLiabilities
|
1126000 | usd |
CY2021Q1 | cuen |
Accrued Bonuses Current And Noncurrent Description
AccruedBonusesCurrentAndNoncurrentDescription
|
Half of the bonus $250 was paid in cash and half will be paid in Common stock of the Company . | |
CY2021Q3 | cuen |
Payment Description
PaymentDescription
|
On August 2, 2021, the Company’s Board of Directors approved the payment of the remainder of the up-listing bonus to Mr. Maimon and Mr. De Prado in the amount of $250 for each of them. On the same date, the Company paid $250 to Mr. Maimon and $250 for Mr. De Prado as described above. | |
CY2021Q1 | cuen |
Bonus Payment Percentage
BonusPaymentPercentage
|
0.025 | pure |
CY2021Q3 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P3Y | |
CY2021Q3 | cuen |
Salaries And Wages Percentage
SalariesAndWagesPercentage
|
1 | pure |
CY2021Q3 | cuen |
Employment Agreements Term Description
EmploymentAgreementsTermDescription
|
In consideration of Mr. Johnson’s agreement to enter into the Johnson Employment Agreement and remain with the Company, Mr. Johnson was to receive a one-time signing bonus in the amount of two hundred thousand dollars ($200), which is to be paid in two (2) installments: the first installment of one hundred thousand dollars ($100) to be paid on the Company’s next regular payday following the hire date of August 25, 2021, which was paid on August 30, 2021, and the second installment of one hundred thousand dollars ($100) to be paid on Company’s next regular payday following the first (1st) anniversary of the hire date of August 25, 2021, provided that Mr. Johnson is employed by the Company on such relevant payment date. | |
CY2021Q3 | us-gaap |
Salaries And Wages
SalariesAndWages
|
245000 | usd |
CY2022 | us-gaap |
Broadcasters License Agreement Commitments Description
BroadcastersLicenseAgreementCommitmentsDescription
|
Pursuant to the License Agreement, the Company shall pay CIMA annual fees for the maintenance and support services in accordance with the following schedule: (i) for the first (1st) calendar year from the Effective Date, $300 were paid in 2020; (ii) for the second (2nd) calendar year from the Effective Date, $500 , were paid in 2021; (iii) for the third (3rd) calendar year from the Effective Date, $700 to be paid during 2022; (iv) for the fourth (4th) calendar year from the Effective Date, $1,000 to be paid on December 31, 2022; (v) for the fifth (5th) calendar year from the Effective Date, $640 to be paid on December 31, 2022; and (vi) for each calendar year thereafter, $640 to be paid on the anniversary date | |
CY2022 | 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="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">December 31,<br/> 2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">(dollars in thousands)</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </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="padding-left: 0.125in; text-indent: -0.125in; width: 76%; text-align: left; padding-bottom: 1.5pt">SDI Cuentas LLC, net of allowance for credit losses of $157 and $0 as of December 31, 2022 and December 31,2021, respectively.</td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">198</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; width: 9%; text-align: right">1</td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 4pt">Total Due from 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">198</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">1</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,<br/> 2021</td><td style="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; 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-75"> -</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">250</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 from related parties</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-76">-</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">250</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Composed from annual fees in the amount of $250 for the maintenance and support services in accordance with the software maintenance agreement for the second calendar year from the Effective Date and other software development services.</span></td> </tr></table><p style="padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022 | us-gaap |
Cost Maintenance
CostMaintenance
|
250000 | usd |
CY2022Q4 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
1051000 | usd |
CY2021Q4 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
880000 | usd |
CY2022 | us-gaap |
Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
|
218000 | usd |
CY2021Q4 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberBeginning
|
121938 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
47.97 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
38461 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
36.4 | |
CY2022 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitures
|
31922 | shares |
CY2022 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
36.4 | |
CY2022Q4 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberBeginning
|
128477 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
56.44 | |
CY2022Q4 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
7692 | shares |
CY2022Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
36.4 | |
CY2022Q4 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
18000 | usd |
CY2022Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
12307 | 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 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
36.4 | |
CY2022Q2 | cuen |
Fair Value Options
FairValueOptions
|
134000 | usd |
CY2022Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
36.4 | |
CY2022Q1 | cuen |
Stock Based Vested Options
StockBasedVestedOptions
|
3847000 | usd |
CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
213000 | usd |
CY2021Q4 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
119229000 | usd |
CY2022 | us-gaap |
Fair Value Option Changes In Fair Value Gain Loss1
FairValueOptionChangesInFairValueGainLoss1
|
4340000 | usd |
CY2022Q4 | us-gaap |
Share Price
SharePrice
|
36.4 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.016 | pure |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P10Y | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
4.80 | pure |
CY2020Q4 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberBeginning
|
10401 | shares |
CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
145.34 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
119229 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
36.4 | |
CY2021 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitures
|
-7692 | shares |
CY2021 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
36.4 | |
CY2021Q4 | cuen |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number Beginning
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumberBeginning
|
121938 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
47.97 | |
CY2022 | cuen |
Ordinary Shares Reserved Incentive Plan
OrdinarySharesReservedIncentivePlan
|
124231 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1151207 | shares |
CY2022 | us-gaap |
Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
|
324928 | shares |
CY2022 | us-gaap |
Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
|
10183 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1473645 | shares |
CY2022Q3 | cuen |
Common Stock Purchase Shares
CommonStockPurchaseShares
|
324928 | shares |
CY2022Q3 | us-gaap |
Other Expenses
OtherExpenses
|
3000000 | usd |
CY2022 | us-gaap |
Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
|
165000 | usd |
CY2019Q2 | us-gaap |
Product Liability Contingency Description
ProductLiabilityContingencyDescription
|
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. 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. | |
CY2022 | cuen |
Accrued Amount
AccruedAmount
|
300000 | usd |
CY2022Q2 | cuen |
Platform Exclusive License Agreement Description
PlatformExclusiveLicenseAgreementDescription
|
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 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 $350on 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) 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 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) 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. | |
CY2022Q4 | cuen |
Company Financial Institution
CompanyFinancialInstitution
|
Crosshair Media Placement, LLC, a Kentucky based marketing company, filed and served a complaint on Cuentas for breach of contract alleging breach of contract damages of $629,807.74, which case remains pending in the United States District Court for the Western District of Kentucky, case no. 3:22-CV-512-CHB. | |
CY2021Q2 | us-gaap |
Payments For Rent
PaymentsForRent
|
7000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
8165000 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
5464000 | usd |
CY2022Q4 | cuen |
Deferred Tax Assets Adjustments
DeferredTaxAssetsAdjustments
|
1118000 | usd |
CY2021Q4 | cuen |
Deferred Tax Assets Adjustments
DeferredTaxAssetsAdjustments
|
1015000 | usd |
CY2022Q4 | cuen |
Valuation Allowance
ValuationAllowance
|
7047000 | usd |
CY2021Q4 | cuen |
Valuation Allowance
ValuationAllowance
|
4449000 | usd |
CY2022 | us-gaap |
Investment Company Contributed Capital To Committed Capital Ratio
InvestmentCompanyContributedCapitalToCommittedCapitalRatio
|
0.72 | pure |
CY2021 | us-gaap |
Investment Company Contributed Capital To Committed Capital Ratio
InvestmentCompanyContributedCapitalToCommittedCapitalRatio
|
0.105 | pure |
CY2022Q4 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
0.50 | pure |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
14479 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
10728 | usd |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.265 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.265 | pure |
CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
3837 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
2842 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
-1854 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
-1180 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-1983 | usd |
CY2021 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-1662 | usd |
CY2021Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
usd | |
CY2022 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2022 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2022 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001424657 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
4449000 | usd |
CY2022 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
2598000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
7047000 | usd |
CY2022 | cuen |
Concentration Risk Percentage
ConcentrationRiskPercentage
|
0.0999 | pure |
CY2022 | cuen |
Aggregate Cash Fee Percentage
AggregateCashFeePercentage
|
0.07 | pure |
CY2022 | us-gaap |
Property Management Fee Percent Fee
PropertyManagementFeePercentFee
|
0.01 | pure |
CY2022 | cuen |
Other Expense
OtherExpense
|
65000000 | usd |
CY2022 | us-gaap |
Other General Expense
OtherGeneralExpense
|
15950000 | usd |
CY2022Q4 | us-gaap |
Excess Stock Shares Issued
ExcessStockSharesIssued
|
265152 | shares |
CY2022 | us-gaap |
Warrant Exercise Price Increase
WarrantExercisePriceIncrease
|
1.782 | |
CY2022Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
4300 | usd |
CY2022 | dei |
Auditor Firm
AuditorFirmId
|
6501 | |
CY2021Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
usd | |
CY2021 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
usd | |
CY2021 | us-gaap |
Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
|
usd | |
CY2022 | cuen |
Available For Sale Securitie
AvailableForSaleSecuritie
|
usd | |
CY2021 | cuen |
Loan To Cuentas
LoanToCuentas
|
usd | |
CY2021 | us-gaap |
Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
|
usd | |
CY2021 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
usd | |
CY2022 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
usd | |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
usd | |
CY2022 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
usd | |
CY2022 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
usd | |
CY2022 | us-gaap |
Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
|
usd | |
CY2021 | cuen |
Purchase Of Treasury Stock
PurchaseOfTreasuryStock
|
usd | |
CY2022 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
usd | |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
usd | |
CY2022 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2021 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2022 | us-gaap |
Income Tax Refunds Discontinued Operations
IncomeTaxRefundsDiscontinuedOperations
|
usd | |
CY2021 | us-gaap |
Income Tax Refunds Discontinued Operations
IncomeTaxRefundsDiscontinuedOperations
|
usd | |
CY2022 | cuen |
Common Stock Issued For Settlement Of Stockbased Liabilities
CommonStockIssuedForSettlementOfStockbasedLiabilities
|
usd | |
CY2022 | cuen |
Issuance Fee With Connection To Issuance Of Common Stock Due To Exercise Of Warrants
IssuanceFeeWithConnectionToIssuanceOfCommonStockDueToExerciseOfWarrants
|
usd | |
CY2021Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
usd | |
CY2021Q3 | us-gaap |
Salaries And Wages
SalariesAndWages
|
usd | |
CY2022 | us-gaap |
Stock Issued During Period Shares Acquisitions
StockIssuedDuringPeriodSharesAcquisitions
|
7693 | shares |
CY2022 | cuen |
Actual Tax Incomeexpense
ActualTaxIncomeexpense
|
usd | |
CY2021 | cuen |
Actual Tax Incomeexpense
ActualTaxIncomeexpense
|
usd | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
usd |