Brief: Tingo Group Inc Completed Investigation Of Allegations Made By Hindenburg Research

Tingo

30/08/2023 13:05

Aug 30 (Reuters) - Tingo Group Inc  TIO.O :
    * TINGO GROUP INC: COMPLETED INVESTIGATION OF ALLEGATIONS
MADE BY
HINDENBURG RESEARCH THAT RELATE DIRECTLY TO COMPANY AND ITS
BUSINESSES
    * TINGO GROUP - CO, OUTSIDE COUNSEL TO PROCEED TO
INVESTIGATE
HINDENBURG'S ALLEGATIONS AGAINST FOUNDER OF TINGO MOBILE AND
TINGO FOODS, DOZY MMOBUOSI
    * TINGO GROUP INC - REVENUE REPORTED BY TINGO FOODS IN Q1
2023 AND
ITS OPERATING MARGIN OF 24.8 % HAS BEEN CONFIRMED
    * TINGO GROUP INC: RELATIONSHIPS WITH ALL CO-OPERATIVES AND
FARMING ORGANIZATIONS HAVE BEEN CONFIRMED
    * TINGO GROUP INC - TINGO DMCC IS COMPANY'S NEW AGRICULTURAL
EXPORT BUSINESS
    * TINGO: HINDENBURG CONTACTED CO CALLED UGC MOBILE
TECHNOLOGIES IN
U.S., NOT TINGO'S SUPPLIER UGC TECHNOLOGIES LTD
    * TINGO GROUP INC- TINGO MOBILE DOES NOT CURRENTLY DEAL WITH
OR
ACCEPT NEW CUSTOMERS OTHER THAN THROUGH ITS RELATIONSHIP WITH
ASHANTI INVESTMENT TRUST
    * TINGO GROUP INC-  TINGO MOBILE PREPARING TO FURTHER EXPAND
CO'S
BUSINESS IN GHANA, IS CURRENTLY RECRUITING WORKFORCE AND
BUILDING WEBSITE FOR IT
    * TINGO: "ERRORS" IDENTIFIED BY HINDENBURG IN CO'S FINANCIAL
STATEMENTS, MD&A IN YEAR-END 2022 10-K & Q1 2023 10-Q WERE
TYPOGRAPHICAL ERRORS

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