Cuentas Inc. (CUEN): debt financing — Cuentas CFO Michael De Prado departs; company issues $1.6M in convertible notes

Cuentas Inc.

Michael De Prado resigned as President, EVP and CFO effective Oct 21; receives $110K cash and $673K in secured notes.
CEO Shalom Arik Maimon appointed interim CFO; board to search for permanent CFO.
Issued $385K convertible notes to World Mobile Group; proceeds used for separation costs and SEC filings.
Insider notes of $1.007M issued Oct 17 to Maimon, Schulman, AM Law; convertible at $0.42/share; 50% already converted.
De Pardo notes are secured by first-priority lien on Fintech (non-MVNO) assets; separation includes mutual releases.

item 1.01 item 2.03 item 3.02 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Cuentas Inc. incurred loan of $473,000 and $200,000 with Michael De Prado at 2% cash interest; no cash interest unless default; 8% default maturing upon the earlier of a qualified financing of at least $2,000,000 or one year from issuance; first anniversary of issuance.

Instrument: loan
Principal: $473,000 and $200,000
Counterparty: Michael De Prado
Rate: 2% cash interest; no cash interest unless default; 8% default
Maturity: upon the earlier of a qualified financing of at least $2,000,000 or one year from issuance; first anniversary of issuance
Event: incurrence

Exact text from the filing

The De Prado Note One ($473,000, 2% cash interest; optional conversion at $0.42 per share; piggyback rights) and Note Two ($200,000, no cash interest unless default; 8% default) are secured by first-priority liens on the Company’s Fintech (non-MVNO) assets under separate security agreements.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Cuentas Inc. incurred convertible notes of three unsecured notes with Shalom Arik Maimon, Schulman, and AM Law at 2% interest; 15% interest in case of default.

Instrument: convertible notes
Principal: three unsecured notes
Counterparty: Shalom Arik Maimon, Schulman, and AM Law
Rate: 2% interest; 15% interest in case of default
Event: incurrence

Exact text from the filing

On October 17, 2025, the Company also became obligated under the three unsecured notes issued to Mr. Maimon, Schulman and AM Law described under Item 1.01 above (each 2% interest; 15% interest in case of default; optional conversion at $0.42 per share; piggyback rights).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Cuentas Inc. incurred convertible notes of aggregate principal $385,000 with World Mobile Group Ltd..

Instrument: convertible notes
Principal: aggregate principal $385,000
Counterparty: World Mobile Group Ltd.
Event: incurrence

Exact text from the filing

The Company’s obligations under the WM Notes (aggregate principal $385,000, convertible pursuant to their terms) constitute direct financial obligations of the Company as of September 22, 2025 and October 1, 2025, respectively.

View on SEC.gov

304 debt financings filed in the last 30 days. Browse all debt financings →

Cuentas Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-101868

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