MIAMI, September 20, 2018 /PRNewswire/ --
Cuentas, Inc. (OTCQB: CUEN) (the "Company" or "Cuentas"), a FinTech company delivering mobile banking, credit and telecommunications to the unbanked, underbanked and underserved population, today announced that Richard Berman, an experienced Director and leader for a number of public companies, has been added to the Company's board during a crucial period of high growth.
Richard Berman's career spans over 35 years of venture capital, senior management and merger and acquisitions experience. He possesses a strong track record of providing senior leadership as an executive and Board member of public and private companies, with extensive experience in many business sectors including finance, technology, retail, bio-science and real estate. His reputation for providing insightful leadership based upon this career experience is highly valued by the Cuentas team, and will guide the Company as it progresses through a number of important announcements and corporate milestones.
Richard currently serves as a Director of four public companies: Advaxis, Inc., Catasys, Inc., Cryoport Inc and Immuron. He also served as a Director or Officer of more than a dozen public and private companies, including Chairman of National Investment Managers, a company with $12 billion in pension administration assets, from 2006 to 2011.Mr. Berman has a strong track record of providing corporate leadership in the financial services sector, serving as Director of two leading private companies, Strategic Funding Source, an alternative lender to small businesses; and Honor Capitol, an organization that provides auto and home insurance loans to consumers.
"We are excited to have Richard Berman, someone who is extremely respected throughout multiple business sectors relevant to Cuentas, join our Board as a Director," said Arik Maimon, CEO of Cuentas, Inc. "Cuentas has reached a very important stage of our corporate story, one that we expect will generate adoption of our financial technology instruments and attract the attention of both shareholders and potential partners alike. Richard's guidance will be invaluable as we navigate this period of growth, and we look forward to working closely with him in the months and years to come."
Starting his career in finance, Mr. Berman worked at Goldman Sachs; served as Senior Vice President of Bankers Trust Company where he started the M&A and Leveraged Buyout Departments; created the largest battery company in the world in the 1980s by merging Prestolite, General Battery and Exide to form Exide Technologies (XIDE); helped to create what is now Soho (NYC) by developing five buildings; and advised on over $4 billion of M&A transactions in over 300 deals. From 2002 to 2010, Richard served as Director of Nexmed Inc. (now Seelos Therapeutics, Inc.) as well as Chairman/CEO in 2008 and 2009. From 1998-2000, he was employed by Internet Commerce Corporation (now Easylink Services) as Chairman and CEO, and Director from 1998 to 2012.
Richard is a past Director of the Stern School of Business of NYU where he obtained his BS and MBA. He also has US and foreign law degrees from Boston College and The Hague Academy of International Law, respectively.
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.
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