Cuentas Inc (CUEN)

[Sooah]

They had 'something' going over the last nine months for sure and here is what transpired. There was a reverse merger between NYBD Holding and Pleasant Kids on September 20, 2013 via a Share Exchange Agreement. Old management out, new management in. One of the directors Yeffet stayed on board though. So as of September 20, 2013 we see a change of control here at NYBD Holdings and Yeffet agrees to assume all debt belonging to the previous holding company in exchange for Preferred A which is fine. The September 20, 2013 transaction is a reverse merger with Pleasant Kids as the surviving entity in the deal:

Change in Officers and Directors

On September 20, 2013, the control of the Board of Directors of the Company changed with the share exchange agreement between NYBD Holding, Inc., and Pleasant Kids, Inc. Mordechai Etgar and Charles Neustein left the Board of Directors and Haim Yeffet stayed on. Four new members were appointed to the board; Robert Rico, President/CEO, Calvin Lewis, Vice President, Franjose Yglesias-Bertheau, Secretary/COO and Kenneth C. Wiedrich, Treasurer/CFO

(a) Resignation of Officers

On September 20, 2013, Mordechai Etgar and Charles Neustein resigned as a members of the board of directors of NYBD Holding, Inc. The resignation was not the result of any disagreement with the Company on any matter relating to our operations, policies or practices, but was due to the change in control of the Company by Pleasant Kids, Inc.

(b) Appointment of Directors and Officers

The following persons were appointed as to the positions listed by their name in the table below at Closing:

NAME AGE POSITION
Robert Rico 39 President/CEO and Director
Calvin Lewis 44 Vice President and Director
Franjose Yglesias-Bertheau 50 Corporate Secretary/COO and Director
Kenneth C. Wiedrich 67 Treasurer/CFO and Director
Haim Yeffet 63 Director

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9708604

Since September 20, 2013, NYBD has been trying to clean up the remaining debt that were not assumed by the old holding company. It is stated clearly that all debt of the holding company were assumed by Yeffet with the exception of Asher indebtedness. Redwood held debt pre-September 20, 2013 too so the renegotiation of these two lenders comes in 2014 and this is why you see restricted stock issued to them in settlement of legacy debt.

So what will come shortly is name change, ticker change and so on. The party on NYBD--soon to be AQUA--is just starting then.

This is very easy D/D on NYBD.