Cuentas Announces Successful Israeli Entrepreneur Arik Filstein as New Executive Advisor to the Board

MIAMI, August 14, 2018 /PRNewswire/ --

Cuentas, Inc. (OTCQB: NXGHD) (the "Company" or "Cuentas"), a FinTech service provider delivering mobile banking, credit and telecommunications to the underbanked and underserved population, has announced that it has signed a consulting agreement with Mr. Arik Filstein to be an Advisor to the Board of Directors. Mr. Filstein is a successful Israeli entrepreneur and a well-known executive in the Tel-Aviv Stock Exchange whose latest endeavor, which he personally led has reached a market cap of about US$150 million becoming one of the most popular public companies in Tel-aviv. Arik left the role of CEO of the company on May this year after acquiring Globus Pharma, a medical cannabis company.

Arik Filstein is a serial entrepreneur and an early stage investor who is passionate in creating new technologies, starting companies and scaling them up. On his website, Arik writes: "Years ago I started building technology businesses, and never stopped. My experience has given me a fascinating education in the nuts and bolts of entrepreneurship and strategy. And it also proved that a great venture is built on an instinct for finding the right people and looking far into the future."

Mr. Dan Haloutz, former Chief of General Staff, Israeli Army stated that "Arik is a true leader, a talented person, knowledgeable and highly motivated. He deals well with macro and micro issues. Arik is a well-known entrepreneur; he enjoys natural leadership and management skills. His analytic way of thinking and ability to get a clear perspective on what truly counts, alongside his strategic, tactic, and resources management abilities, when combined with his leadership qualities, enables him to handle complex projects and situations, and execute. Following Arik closely during the last years, I have no doubt of his high potential contribution to any organization." Mr. Haloutz was the chairman of Filstein's company.

"We are very pleased that Arik Filstein has agreed to become an Advisor to the Board of Cuentas, Inc. as his experience, skills and a very deep knowledge on the capital market should help us reach the next levels of success", stated Arik Maimon, CEO & Founder of CUENTAS. "We look forward to working with him and his special set of skills," added Maimon.  

"Now that Cuentas Inc. has defined its future path and goals, we are eager to study the potential benefits of Arik's ideas and strategies as we apply them to mainstream commerce, banking and communications," stated Michael De Prado, President & Founder of CUENTAS. "Cuentas continues to take important steps forward to reach our goals and advance the company towards success," added De Prado.

About Cuentas, Inc.  

Cuentas is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions, including wireless MVNO, to underserved, unbanked, and emerging markets. For more information, visit http://www.cuentas.com.

Cautionary Note Regarding Forward-Looking Statements 

Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. The potential risks and uncertainties include, among others, that the reverse stock split may not have the intended benefits, that the Company may not meet applicable NASDAQ Capital Market requirements necessary for listing and/or NASDAQ may not approve the Company's listing application; and any capital raises. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, performance, prospects, and opportunities to may differ materially from those set forth in, or implied by, the forward-looking statements.

For inquiries:
Greg Menken 
+1-646-843-1826 
[email protected]

SOURCE Cuentas, Inc.