PCX

Tingo Group, Inc. Reports Second Quarter 2023 Financial Results

Retrieved on: 
Thursday, August 31, 2023
Partnership, Dividend, Earnings before interest, taxes, depreciation and amortization, Marketing, Farmer, Financial result, Central bank, Central Bank of Nigeria, Law practice manager, Devaluation, EBITDA, International use of the U.S. dollar, Depreciation, TIO, Lifting, Webcast, Growth, Consolidated, Ecosystem, PCX, National Diet of Japan Fukushima Nuclear Accident Independent Investigation Commission, Relaxation, Conference, Second, Video game, Pharmaceutical industry, Mobile phone, Rare-earth element, Life insurance, Agriculture, Holding company, Cryptocurrency, Nigerian naira, Tingo District, Revenue

Net revenues of Tingo Group for the second quarter 2023, were $977.2 million, compared to $12.0 million for the second quarter 2022, up 8,072%.

Key Points: 
  • Net revenues of Tingo Group for the second quarter 2023, were $977.2 million, compared to $12.0 million for the second quarter 2022, up 8,072%.
  • Gross profit of Tingo Group for the second quarter 2023, was $346.0 million, compared to gross profit of $2.1 million for the second quarter 2022.
  • Operating profit of Tingo Group for the second quarter 2023, was $181.7 million, compared to a loss of $13.8 million for the second quarter 2022.
  • EBITDA1 of Tingo Group for the second quarter 2023, was $283.1 million, compared to a EBITDA1 Loss of $12.2 million for the second quarter 2022.

ZenWTR® Announces Exciting Brand Refresh with Packaging Updates and New Innovation

Retrieved on: 
Wednesday, June 21, 2023
Heart, Partnership, Habit, Recycling, Organization, Winston tastes good like a cigarette should, Nature, Water, LOS, PCX, Glass, Bottled water, Marketing

LOS ANGELES, June 21, 2023 /PRNewswire/ -- ZenWTR®, the world's first beverage in a bottle made from 100% recycled, certified ocean-bound plastic, is proud to unveil a newly refreshed brand design reinforcing its commitment to ocean preservation and sustainability. The updated brand identity reflects ZenWTR's dedication to delivering great-tasting, ultra-pure vapor distilled water, while inspiring positive change among consumers and the beverage industry.

Key Points: 
  • The updated brand identity reflects ZenWTR's dedication to delivering great-tasting, ultra-pure vapor distilled water, while inspiring positive change among consumers and the beverage industry.
  • "We are thrilled to unveil this brand refresh, with our taste-forward and mission-centric messaging front and center," said Lance Collins, ZenWTR founder and beverage industry veteran.
  • "Our vision is for ZenWTR to be the go-to brand for sustainable, premium packaged water.
  • This new Alumi-Tek bottle is 100% infinitely recyclable and creates an additional sustainable format option for consumers to enjoy ZenWTR.

Tingo Mobile Advances Loan Facility to All Farmers Association of Nigeria to Finance Cultivation of 3,000 Hectares of New Farming Land for Rice and Wheat Production

Retrieved on: 
Friday, June 2, 2023
Tonne, Partnership, Food, Farmer, USD, Social Security Government Pension Offset, Key, TIO, ESG, Social, PCX, Food security, Agriculture, Warehouse, Tingo District

MONTVALE, N.J., June 02, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”) announced today that it has provided a 3 Billion Naira (approximately USD $6.5 Million) loan facility to the All Farmers Association of Nigeria (“AFAN”) for the primary purpose of cultivating 3,000 hectares of new farming land for rice and wheat production. AFAN will also utilize part of the loan facility to accelerate the onboarding of its warehouses to the Tingo Mobile partnership with Prime Commodity Exchange (“PCX”) and AFAN as part of its target to achieve a network of 80,000 warehouses in two years, as announced on April 26, 2023.

Key Points: 
  • Farouk Rabiu Mudi, President of AFAN, commented: “This significant new investment from Tingo Mobile is a further and very important boost for Nigerian farmers.
  • The funds being provided greatly enhance our ability to cultivate vast areas of agricultural land, delivering significant increases in rice and wheat production.
  • By supporting AFAN and its farmers to cultivate more land and improve crop production levels.
  • We are not only helping Nigeria’s agricultural community, we are also generating more business for Tingo Mobile and delivering more produce to Tingo Foods and our Tingo DMCC export business.

Tingo DMCC Commences Delivery of Significant Pipeline of Export Orders, Completing First $348 Million of Sales

Retrieved on: 
Tuesday, May 30, 2023
Acceleration, Partnership, Food, Farmer, Sale, TIO, Growth, PCX, Food security, Retail, Tourism, Tingo District

MONTVALE, N.J., May 30, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”) announced today that its export business, operated through wholly owned subsidiary Tingo DMCC, has completed its first batch of export deals, generating $348 million of sales with a gross profit approaching $100 million.

Key Points: 
  • The sales completed today are part of an anticipated long-term multi-billion-dollar pipeline of export transactions, more than $1 billion of which are currently being processed for expected delivery by the third quarter of 2023.
  • Darren Mercer, Chief Executive Officer of Tingo, commented: “The commencement and ramp-up of the Tingo DMCC export business, together with its impact on our dollarization and globalization, is a momentous event for us.
  • “With the infrastructure in place to support our burgeoning export business, we are confident Tingo DMCC will deliver a material acceleration in both revenue and earnings growth.
  • Through the launch of our export business, we are now able to offer access to global markets for Tingo Mobile’s farmers.

How Plastic Credits are Supporting the Global Plastics Treaty

Retrieved on: 
Wednesday, May 31, 2023
Extended producer responsibility, Policy, Silver, Plastic pollution, Recycling, INC, Climate change, EPR, Plastic, PCX, Agriculture

SINGAPORE and MANILA, Philippines, May 31, 2023 /PRNewswire/ -- Plastic pollution, climate change and biodiversity loss are highly intertwined and exacerbate each other, threatening our life on Earth. We must innovate and invest in the development of alternative materials, transform supply chains, and change our consumption models to face it. 

Key Points: 
  • Plastic Credit Exchange (PCX) releases position paper ahead of Global Plastics Treaty negotiations, illustrating how plastic credits are a critical part of the solution to the plastic pollution crisis today.
  • SINGAPORE and MANILA, Philippines, May 31, 2023 /PRNewswire/ -- Plastic pollution, climate change and biodiversity loss are highly intertwined and exacerbate each other, threatening our life on Earth.
  • The UN Global Treaty on Plastic Pollution is a crucial policy framework but needs many tools and years to implement and be effective.
  • "Plastic offsets and credits constitute a powerful, immediately available mechanism to inject capital into the plastic waste market, and should therefore be part of the solution mix."

Tingo Group, Inc. Reports First Quarter 2023 Financial Results

Retrieved on: 
Monday, May 15, 2023
Optimism, Drainage, Marketing, Farmer, Food, Visa, Local government, Acquisition, ESG, PCX, Water supply, Share repurchase, TIO, Growth, Consolidated, Food security, Conference, Earnings before interest, taxes, depreciation and amortization, Commencement Day, Carbon, Revenue, Webcast, Partnership, Bank statement, Sale, EBITDA, Depreciation, Ecosystem, Earnings, Pharmaceutical industry, Cryptocurrency, Video game, Holding company, Agriculture, Warehouse, Oil, Tingo District

MONTVALE, N.J., May 15, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”) today announced its financial results for the quarter ended March 31, 2023.

Key Points: 
  • Following the completion of the acquisition of 100% of Tingo Mobile Limited (“Tingo Mobile”) on November 30, 2022, today’s results are the first to present a full quarter of consolidated financial statements of Tingo and Tingo Mobile.
  • Net revenues of Tingo Group for the first quarter 2023 were $851.2 million, compared to $9.6 million for the first quarter 2022, up 8,801%.
  • EBITDA1 of Tingo Group for the first quarter 2023 was $372.2 million, compared to a EBITDA1 Loss of $8.9 million for the first quarter 2022.
  • On April 27, 2023, Tingo Group reported the Deloitte audited financial results of Tingo Foods for the approximate four-month period from its inception in September 2022 to December 31, 2022.

Tingo Mobile Signs Exclusive Agreement with Prime Commodity Exchange (PCX) and All Farmers Association of Nigeria (AFAN), Securing Considerable Produce Supply, Nationwide Warehousing Facilities and Enhanced Commodity Trading Opportunities

Retrieved on: 
Wednesday, April 26, 2023
Agreement, Partnership, Food, Farmer, MICT, Sale, Tingo District, TIO, Growth, Ecosystem, PCX, Early warning system, Food security, Empowerment, Warehouse, Agriculture

MONTVALE, N.J., April 26, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”) announced today that its wholly owned subsidiary, Tingo Mobile Limited (“Tingo Mobile”) has entered into a tri-partite agreement (the “Agreement”) with Prime Commodity Exchange (“PCX”) and All Farmers Association of Nigeria (“AFAN”).

Key Points: 
  • AFAN’s warehouses are typically a minimum of 200 square meters in size, and mainly used for storing crops and agricultural produce for its farmers.
  • In addition to a charge for storage in the warehouses, Tingo Mobile plans to sell additional value-added services, including those related to goods handling, re-pack, freight, and inventory management.
  • Tingo Mobile also has the right to sub-let space in the warehouses to pre-approved third parties, which it believes will become a significant additional source of profitable income.
  • “The components of today’s agreement further augment our seed-to-sale model and enhance the financial upliftment and empowerment of our farmers.

Blue River Advises Prime Technologies on Sale to TMA Systems

Retrieved on: 
Thursday, February 23, 2023
PCX, Silversmith Capital Partners, Computerized maintenance management system, Maintenance, Acquisition, TMA, EAMS, CMS, M&A, CMMS, Calibration, Sale, Asset management

BLOOMFIELD HILLS, Mich., Feb. 23, 2023 /PRNewswire/ -- Blue River Financial Group , Inc. ("Blue River"), a leading North American middle market investment banking firm, announced it served as exclusive M&A advisor to Prime Technologies , provider of Calibration Management Software (CMS), in its recent sale to TMA Systems , a portfolio company of Silversmith Capital Partners .

Key Points: 
  • BLOOMFIELD HILLS, Mich., Feb. 23, 2023 /PRNewswire/ -- Blue River Financial Group , Inc. ("Blue River"), a leading North American middle market investment banking firm, announced it served as exclusive M&A advisor to Prime Technologies , provider of Calibration Management Software (CMS), in its recent sale to TMA Systems , a portfolio company of Silversmith Capital Partners .
  • The acquisition of Prime Technologies enables TMA, US-based leader and developer of Computerized Maintenance Management Systems (CMMS) and Enterprise Asset Management Solutions (EAMS), to provide its clients with a robust asset calibration and maintenance management solution.
  • Blue River Financial Group served as exclusive M&A advisor to Prime Technologies in its recent sale to TMA Systems.
  • Prime Technologies, Inc. has been a global leader in the development of calibration management software for 25 years.

Travis Kelce Joins ZenWTR Alkaline Water's Roster of Investors

Retrieved on: 
Thursday, September 29, 2022
Sprouts, Certification, Athlete, Target, Drink, Drink industry, Publix, Organic, Recycling, Organization, Beer, Polar Beverages, Social media, 1964 NFL Draft, NFL, ExtraMile Arena, Instagram, Kelce, PCX, Sport, Albertsons, Circle K, TikTok, Water, Farmer, Ernst & Young Entrepreneur of the Year Award, Education, Whole Foods Market, World Surf League, Bottled water, QuikTrip, Kroger

LOS ANGELES, Sept. 29, 2022 /PRNewswire/ -- ZenWTR® – the premium alkaline water and world's first and only beverage in a bottle made from 100% recycled, certified ocean-bound plastic – today announced the addition of Kansas City's Travis Kelce to its roster of athlete and celebrity investors. Beyond being his choice for ultra-pure premium hydration to stay game-day ready, Kelce stands behind ZenWTR's mission to prevent ocean pollution.

Key Points: 
  • LOS ANGELES, Sept. 29, 2022 /PRNewswire/ -- ZenWTR the premium alkaline water and world's first and only beverage in a bottle made from 100% recycled, certified ocean-bound plastic today announced the addition of Kansas City's Travis Kelce to its roster of athlete and celebrity investors.
  • "As an athlete, staying hydrated is crucial to my performance," said Travis Kelce, ZenWTR investor and professional football player.
  • "ZenWTR is my go-to choice as it's the perfect alkaline water for superior hydration, plus I love that each bottle helps prevent ocean pollution.
  • "We couldn't be more excited to have Travis Kelce join the ZenWTR investor squad," said Collins.

Vance & Hines to Debut New PCX Products at Sturgis Motorcycle Rally

Retrieved on: 
Tuesday, August 2, 2022
FP4, EPA, Sturgis Motorcycle Rally, Torque, J&P Cycles, RPM, Compliance, City, PCX, Technology, Acceleration, Propane, Heating, ventilation, and air conditioning

SANTA FE SPRINGS, Calif., Aug. 2, 2022 /PRNewswire/ -- Vance & Hines will debut new Power Chamber Exhaust (PCX) versions of its most popular exhaust systems at the Sturgis Rally starting this week. The company's new PCX technology delivers higher performance and rider comfort while retaining the popular style of Vance & Hines exhaust systems. The extensive launch impacts sixteen different part numbers and includes top selling styles including Vance & Hines Power Duals, Big Radius, Shortshots Staggered and Big Shots Staggered. The inclusion of a catalyst ensures EPA emissions compliance on all PCX systems.

Key Points: 
  • The company's new PCX technology delivers higher performance and rider comfort while retaining the popular style of Vance & Hines exhaust systems.
  • "The whole team from Vance & Hines is thrilled to launch the new PCX technology at Sturgis, this is a huge moment for our company," said Vance & Hines President and CEO Mike Kennedy.
  • PCX technology-equipped exhaust systems will be sold at the two Vance & Hines locations at the Sturgis Rally which starts this week.
  • Company staff will show all of Vance & Hines top products at both Black Hills Harley-Davidson in Rapid City and at J&P Cycles in Sturgis.