0001424657 false 0001424657 2023-10-11 2023-10-11 0001424657 CUEN:CommonStockParValue0.001PerShareMember 2023-10-11 2023-10-11 0001424657 CUEN:WarrantsEachExercisableForOneShareOfCommonStockMember 2023-10-11 2023-10-11 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): October 11, 2023

 

Cuentas Inc.

(Exact name of registrant as specified in its charter)

 

Florida   001-39973   20-3537265
(State or other jurisdiction of
incorporation or organization)		   (Commission file number)   (IRS Employer
Identification No.)

 

235 Lincoln Rd., Suite 210, Miami Beach, Florida 33139

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (800) 611-3622

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.001 per share   CUEN   The Nasdaq Stock Market LLC
Warrants, each exercisable for one share of Common Stock   CUENW   The Nasdaq Stock Market LLC

 

 

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

(b) In accordance with the terms of his Employment Agreement dated November 28, 2018, as amended on August 5, 2021 (the “Employment Agreement”), the Company notified Ran Daniel, its Chief Financial Officer since 2018, that the Employment Agreement would not be renewed. Mr. Daniel’s employment with the Company will continue until November 27, 2023, the end of the term of his Employment Agreement.

 

(c) On October 11, 2023, the Board of Directors of the Company, based upon the recommendation of its Audit Committee, appointed Shlomo Zakai as the Company’s Chief Financial Officer. Mr. Zakai will succeed Ran Daniel.

 

Mr. Zakai, age 53, is the Manager of Shlomo Zakai CFO accounting firm. Since May 2020, he has been Chief Financial Officer of UAS Drone Corp. (OTC: USDR). From August 2017 to December 2021, Mr. Zakai was Chief Financial Officer of Save Foods, Inc. (Nasdaq:SAFO). From October 2014 to August 2020, he was Chief Financial Officer of Sonovia Ltd. (a former OTC company). From January 2012 to May 2016, Mr. Zakai was Chief Financial Officer of Bluesphere Inc. (a former OTC company). Mr. Zakai worked as an accountant at Kost, Forer, Gabbay & Kasierer, an independent registered public accounting firm and a member firm of Ernst & Young Global, for nine years, where he last served as a Senior Manager and worked with technology companies publicly traded on the Nasdaq Stock Market and on the Tel Aviv Stock Exchange. Mr. Zakai holds a B.A. in accounting from the College of Management in Rishon Le’Zion, Israel.

 

Mr. Zakai is entitled to $10,000 per month for his services. 

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  CUENTAS INC.
     
Dated: October 16, 2023 By: /s/ Arik Maimon
    Arik Maimon
    Chief Executive Officer

 

 

2

 

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Oct. 11, 2023
Document Type 8-K
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Document Period End Date Oct. 11, 2023
Entity File Number 001-39973
Entity Registrant Name Cuentas Inc.
Entity Central Index Key 0001424657
Entity Tax Identification Number 20-3537265
Entity Incorporation, State or Country Code FL
Entity Address, Address Line One 235 Lincoln Rd.
Entity Address, Address Line Two Suite 210
Entity Address, City or Town Miami Beach
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33139
City Area Code 800
Local Phone Number 611-3622
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Pre-commencement Issuer Tender Offer false
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Common Stock, par value $0.001 per share  
Title of 12(b) Security Common Stock, par value $0.001 per share
Trading Symbol CUEN
Security Exchange Name NASDAQ
Warrants, each exercisable for one share of Common Stock  
Title of 12(b) Security Warrants, each exercisable for one share of Common Stock
Trading Symbol CUENW
Security Exchange Name NASDAQ
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