Tangelo Provides Update on its Current Situation
de C.V.) (BIVA: TANGELO) today provided an update on its current situation.
- de C.V.) (BIVA: TANGELO) today provided an update on its current situation.
- The reduced scale reflects the Company's base projections following a ramp up from the current level of business and assumes the availability of additional capital to fund the growth of the business.
- The Company continues to work with Kroll Associates Iberia SL to identify the causes of the previously announced write-off of MXN$655 million in its loan portfolio.
- To date, the Company has not identified the need for any additional write-offs as a result of past accounting errors.