Tingo Group to Postpone Second Quarter 2023 Earnings Release, Conference Call and Filing of Form 10-Q
21 Agosto 2023 - 5:55PM
Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”)
announced today that it has further postponed its second quarter
2023 earnings release and conference call and the filing of its
Form 10-Q for the period ended June 30, 2023.
Although progress has been made with regard to
the independent review of the allegations made in the Hindenburg
short-seller report, the independent review is still ongoing. As
such, the Company and the independent auditors require additional
time to complete the preparation of the Form 10-Q and financial
statements.
About Tingo Group
Tingo Group, Inc. (NASDAQ: TIO) is a global
Fintech and Agri-Fintech group of companies with operations in
Africa, Southeast Asia and the Middle East. Tingo Group’s wholly
owned subsidiary, Tingo Mobile, is a leading Agri-Fintech company
operating in Africa, with a comprehensive portfolio of innovative
products, including a ‘device as a service’ smartphone and a value
added service platform. As part of its globalization strategy,
Tingo Mobile has recently begun to expand internationally and
entered into trade partnerships that are contracted to increase the
number of subscribed farmers from 9.3 million in 2022 to more than
32 million, providing them with access to services including, among
others, the Nwassa ‘seed-to-sale’ marketplace platform, insurance,
micro-finance, and mobile phone and data top-up. Tingo Group’s
other Tingo business verticals include: TingoPay, a SuperApp in
partnership with Visa, that is currently in beta version, offering
a wide range of B2C and B2B services including payment services, an
e-wallet, foreign exchange and merchant services; Tingo Foods, a
food processing business that processes raw foods into finished
products such as rice, groundnut oil, nut products, wheat, millet
and maize; and Tingo DMCC, a commodity trading platform and
agricultural commodities export business based out of the Dubai
Multi Commodities Center. In addition to its Tingo business
verticals, Tingo Group also holds and operates an insurance
brokerage platform business in China; and Magpie Securities, a
regulated finance services Fintech business operating out of Hong
Kong and Singapore. For more information visit tingogroup.com.
Disclaimer
The information in this news release includes
certain information and statements about management and the Board's
view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based
upon assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties and as a
result of a variety of factors, the actual results, expectations,
achievements or performance may differ materially from those
anticipated and indicated by these forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, the timing of completion of the independent review.
Any number of factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although the Company believes that the expectations
reflected in forward looking statements are reasonable, it can give
no assurance that the expectations of any forward-looking
statements will prove to be correct. These forward-looking
statements involve a number of risks, uncertainties or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include,
but are not limited to, those discussed and identified in public
filings made with the SEC by the Company and: (i) the results of
the independent review; (ii) the risk of restatement of the
Company’s previously reported financial statements or the
identification of one or more material weaknesses in internal
control over financial reporting; (iii) costs relating to the
independent review, which are likely to be material; (iv) the
outcome of any legal proceedings that may be instituted against the
Company, including as may result from the independent review and
(v) the ability to meet stock exchange continued listing standards.
Except as required by law, the Company disclaims any intention and
assumes no obligation to update or revise any forward-looking
statements to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in
factors affecting such forward-looking statements or otherwise.
Investor Relations
Contact949-491-8235TIO@mzgroup.uswww.mzgroup.us
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