Tingo Group Issues Response to Short-Seller’s Statement of September 5, 2023
MONTVALE, N.J., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech and food company, today issues a response to a statement made by short seller Hindenburg Research (“Hindenburg”) on September 5, 2023.
- MONTVALE, N.J., Sept. 06, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech and food company, today issues a response to a statement made by short seller Hindenburg Research (“Hindenburg”) on September 5, 2023.
- The majority of the misinformation reported by Hindenburg in its statement of September 5, 2023 has already been addressed in the Company’s press release of September 1, 2023, as set out below.
- On this basis the cash flow statement reflects the movement in the inventory between January 1, 2023 and June 30, 2023.
- As of June 30, 2023, Tingo DMCC had conducted three export sales transactions totaling $348 million with customers located in neighboring countries within Africa.