Cuentas loses $7.2M property sale; buyer terminates contract for Brooksville land

Cuentas Inc.

Buyer terminated contract for Brooksville, FL property on June 7, 2024; Cuentas notified definitively on July 11, 2024.
Property purchased for $5.05M in Apr 2023, under contract to sell for $7.2M; sale fell through.
Cuentas contributed $2M to purchase and $65k in engineering; holds 63% membership in joint venture.
Company is free to pursue other buyers/developers; also secured $500k loan extension from ALF Trust for working capital.
Mortgage of $3.055M with Republic Bank of Chicago remains on the property.

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