Cuentas to Introduce Proprietary Mobile Security Technology to the U.S. Market

Cuentas’ Proposed Acquisition of a 75% Equity Stake in World Health Energy Holdings, Inc. (OTC Pink:WHEN) is intended to Expand Cuentas’ Mobile business and provide critical Next-Generation Security Against Privacy and Cyber Threats

MIAMI BEACH, Fla., Oct. 16, 2023 (GLOBE NEWSWIRE) -- Cuentas, Inc. (Nasdaq: CUEN & CUENW) ("Cuentas"), developer of an alternative financial ecosystem to the underbanked, today signed a letter of intent to acquire control of WHEN Group (World Health Energy Holdings, Inc. – OTC Pink: WHEN), pending Nasdaq and shareholder approval and other specified conditions, through a share exchange with WHEN’s principal shareholder, leaving Cuentas uniquely debt-free and well positioned to grow its mobile and FinTech lines.

The WHEN Group was founded by Israeli engineers and international professionals with deep background in Cyber security and data threat remediation in both government and private sectors. From business and personal privacy to fin-tech security, WHEN has been developing solutions that utilize advanced pattern recognition and AI to create a security screening environment that can detect and defend against a range of threats and attacks on telecom, banking, and other communication infrastructure. Upon closing of the acquisition, Cuentas intends to begin integrating WHEN’s portfolio of Cyber Security solutions into the Cuentas Mobile Platform as well as offering WHEN’s advanced solutions to Cuentas’ fintech partners.

This move comes on the heels of new global conflicts from Ukraine to Israel, conflicts which have increasingly brought to light the dangers that are threatening our global digital infrastructure systems. These threats extend beyond governments to families and individuals. According to a recent report by the Red Cross, “There is no escaping the life-changing and life-endangering impact that digital technologies are having on people affected by conflict.” Digital threats such as surveillance, cyber-attacks, misuse of personal data, misinformation and disinformation are all-pervasive and these risks continue to evolve rapidly with new technologies such as generative artificial intelligence (AI) joining an ever-expanding list of digital dangers.¹