NOTE 13 – SUBSEQUENT EVENTS

On January 5, 2022, The Company entered into a Binding Letter of Intent with Mango Tell LLC (“Mango Tel”), SDI Black 011, LLC and Sohel Kapadia and Saheda Kapadia (collectively the “Owners”), for the potential acquisition of 100% of the assets of Mango Tel LLC and SDI Black 011(“SDI Group”) in exchange for $3.2 Million.The LOI provides that the Company will deposit $2 Million into an escrow account while a definitive purchase and sale agreement is drafted and negotiated. The parties agree that the LOI is binding on each of them and that they will use their best efforts and good faith to enter into the Agreement with terms and conditions consistent with this Agreement. Pursuant to the Agreement, Cuentas will acquire substantially all of the assets of SDI Black, and Mango Tel which also include the Mango Mobile MVNO, Black Wireless MVNO, Black 011 Long distance platform and operations and the SDI distribution platform and network of over 31,000 bodegas and convenience stores (the “Purchased Assets”). Following the execution of the LOI, the Company shall form a company (“Newco”) into which all of the Purchased Assets shall be transferred and, following the closing of the purchase and sale, all of the interests in Newco shall be transferred to the Company. The Sellers and the Owners have agreed to apply the purchase price paid by the Company to amounts due to the repay U.S. Small Business Administration (“SBA”) loans taken by the Sellers and that Owners shall pay an additional $1,000 towards repayment of additional SBA loans. The Company Cuentas agreed to offer employment agreements to certain Fisk/SDI key employees.

The Company reached a settlement with IDT Domestic Telecom for a settlement payment of $20.

The Company reached a settlement agreement with Larry Kolb (“Kolb”), Vitco LLC and Vitaliy Yurchenko of $200 and is expected to finalize this settlement in 2022.