Cuentas Inc (CUEN)

[floridagrl25]

Well, that awesome NXGH DD in itself should be enough to make one scratch their head and say WTH? Thanks for posting it! Great job on that DD, as always! With each passing day, Arik is looking more and more like a clone of the famous penny stock scammer Robert Rico. Guess that's the reason Arik chose to do business with Rico.

From Tellza Communications 12/31/2015 Report:

Quote:
Depreciation of property and equipment and amortization of intangible assets and asset impairment in 2015 was $2.3 million compared to $1.6 million in 2014. The increase in 2015, relates to the decision by management to take an impairment on its Tel3 asset in 2015 based upon a lower performance outlook for this business going forward.

Quote:
Net income in 2015 was $344 compared to $966 in 2014. The reduction in net income is primarily related to an increase in non-cash impairment by management of its Tel3 asset.

And from Tellza's March 31, 2016 Report:

Quote:
Discontinued operations related to the financial performance of the Tel3 asset.

And this from NXGH's Press Release:

Quote:
Tel3 is a marketing group that had revenues over $3 million in 2015 with 31.5% gross margin, 25,000 active customers, and a database of 300,000 current and former clients.


Sounds like Arik is either seriously confused, didn't expect any DD to be done or both. Things just aren't adding up here.

So which is it? Tellza is discontinuing operations of Tel3 due to poor financial performance, yet NXGH says it did $3,000,000 with 31.5% gross margin. Does Arik own Tel3 or does Tellza?