---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-101868"
form_type: "8-K"
ticker: "CUEN"
cik: "0001424657"
company_name: "Cuentas Inc."
filed_at: "2025-10-24T23:59:59+00:00"
generated_at: "2026-05-17T02:19:27.089850+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cuentas CFO Michael De Prado departs; company issues $1.6M in convertible notes

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-25-101868
- form_type: 8-K
- ticker: CUEN
- cik: 0001424657
- company_name: Cuentas Inc.
- filed_at: 2025-10-24T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1424657/000121390025101868/0001213900-25-101868-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1424657/000121390025101868/ea0262066-8k_cuentas.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-101868
- JSON: https://secwatch.observer/filing/0001213900-25-101868.json
- Plain text: https://secwatch.observer/filing/0001213900-25-101868.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1424657/000121390025101868/0001213900-25-101868-index.htm
- Debt Financings
  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
  source text: 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).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1424657/000121390025101868/0001213900-25-101868-index.htm
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1424657/000121390025101868/0001213900-25-101868-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.