Cuentas : Termination of Material Agreement Form 8 K

Item 1.02 Termination of a Material Definitive Agreement.

On June 17, 2024, Cuentas, Inc. ("Cuentas") was advised that the Buyer of the "Brooksville Property" located at 19200 Cortez Boulevard, Brooksville, Florida 34601 was still interested to structure a deal to acquire the property and develop it but need additional time to complete this process. On June 19, 2024, Cuentas was advised by Brooksville Development Partners, LLC ("Company") that the contract for the sale of the "Brooksville Property" located at 19200 Cortez Boulevard, Brooksville, Florida 34601 was terminated by the Buyer on June 7, 2024 as this was the final date for return of their refundable escrow deposit. On July 11, 2024, Cuentas received definitive notice that the Buyer was no longer able to commit to purchase the property.

The property was originally purchased April 28, 2023 for $5.05 Million and was under contract to be sold for $7.2 Million. Cuentas contributed $2 million to the original purchase price and almost $65k towards engineering expenses. The $3.05 million mortgage with Republic Bank of Chicago was amended and restated on January 27, 2024 for $3.055 million. Additionally, a $500,000 Loan Extension Agreement was executed between the Company and ALF Trust u/a/d 09/28/2023 to ensure the Promissory Note necessary to fund the interest reserve and fees relating to the Loan Extension Agreement and the working capital needs of the Company.

Brooksville Development Partners, LLC ("Company") consists of Brooksville Development DE, LLC (the "Class A Member" with 30% Membership Interest), Cuentas Inc, (a "Class B Member" with 63% Membership Interest) and Brooksville FL Partners, LLC, (a "Class B Member" with 7% Membership Interest), collectively the "Members".

Cuentas is not restricted at this time to offer the property to other potential buyers and/or developers.