Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Massive volume on that spike
Surprised it’s not up another 10% just on the news…
Good day, nice to see the debt pay down!
Here comes 73
Got a little volume today… board’s been very quiet
Your timing is looking even better… kerrisdale flooding the wire with its short report…they’ve put out two more in the last 20 minutes… hope they get burned!
It’s a phenomenal trade…, if I had made a 100k off Mstr in a little over a year, I’d follow saylors lead, and buy yourself a bitcoin…
And the DJ’s queuing up some disco inferno…
Squeeze…
Pathetic! Mara broke 30 on 12/27/23 the btc has now tripled from there, again on 2/15/24, 2/28…
Maybe she’ll touch 30 again when btc hits 100k
Big whoop… should be @30 with bitcoin over 42
Wow, still trading at less than 1/2 of 1xbook…
Market cap. Micro Cap ($556.67M)
Shares outstanding 163,727,382
Tingo DMCC Commences Delivery of Significant Pipeline of Export Orders, Completing First $348 Million of Sales
GLOBENEWSWIRE
26 mins ago
More than $1 billion of Additional Orders in Progress and Expected to Complete by Q3 2023
Major Milestone Towards Dollarizing Tingo Group’s Net Income by Year End
Recently Signed Partnership with PCX and AFAN Already Delivering Multi-Billion Dollars Per Annum of Agricultural Produce
Tingo Foods also Set to Become Additional Significant Source of Food and Beverage Product for Global Export
MONTVALE, N.J., May 30, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (TIO.NaE) (“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.
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.
Having focused on developing a strategic partnership with Prime Commodity Exchange Limited (“PCX”) and the All Farmers Association of Nigeria (“AFAN”), which, as announced on April 26, 2023, includes exclusive use of AFAN’s existing nationwide network of warehouses (a network that is targeted to grow to 80,000 sites over the next two years) and the right of first refusal to purchase or trade all produce stored in the warehouses, Tingo Mobile and Tingo DMCC have established a strong foundation and infrastructure from which to procure, handle and deliver several billion dollars per annum of agricultural produce.
In addition to the export of unprocessed agricultural produce, Tingo DMCC is planning the imminent launch of finished food and beverage exports from Tingo Foods, initially of rice, cooking oils, nut products, noodles and pasta, for which there is a substantial global market that the Company believes is considerably under-supplied.
Through its exports, Tingo DMCC is now expected to dollarize the entire amount of Tingo Group’s net income on a monthly basis before the end of 2023, and today’s first $348 million of sales marks a major milestone towards achieving this goal. Such dollarization, combined with Tingo’s considerable profits ($262.5 million of Net Income Before Tax for the first quarter of 2023) and cash generation ($780.2 million cash balance at March 31, 2023), is a major step towards achieving the Company’s goal of introducing a quarterly dividend in the second half of the year.
3.20!
Yep, more dilution
I think I’ll have to email/query Mr. Patel on its status…
Could definitely get interesting… I’ve been wondering what/and if they still own this asset, “Coinfeid”…
https://medium.com/@CoinField/coinfield-acquired-by-global-fintech-trading-limited-gft-tingo-mobile-plc-stock-symbol-iwbb-46f52e3fd01f
Form 4 out… looks like the insiders concur
Looks like a buying opportunity here… picked up some mire today…
Oops
One would think… appears the arbitrage has flipped
From the 8K
Item 1.01 Item 1.01 Entry into a Material Definitive Agreement.
On May 9, 2019, Nixon Product Storage, LLC, a Delaware limited liability company and wholly owned subsidiary of Blue Dolphin Energy Company (“Blue Dolphin”), and Pilot Travel Centers LLC (“Pilot”), a Delaware limited liability company, entered into a Terminal Services Agreement, pursuant to which NPS agreed to store jet fuel purchased by Pilot at the Nixon facility. On August 25, 2022, Pilot provided the required 60-days’ notice of its intent to terminate the Terminal Services Agreement, which became effective on October 24, 2022. As of the Terminal Services Agreement termination date, approximately 185,000 bbls of Pilot’s jet fuel remained at the Nixon facility.
On October 28, 2022, Pilot commenced an action and application for a temporary restraining order (“TRO”) against NPS in Harris County District Court (the “Texas Action”). After a hearing on the application on October 28, 2022, Pilot’s application for the TRO was denied the same day.
On December 2, 2022, NPS filed its answer in the Texas Action. On December 6, 2022, NPS provided notice of its intent to sell the remaining inventory of Pilot’s jet fuel at the Nixon facility by January 7, 2023. After a series of negotiations, NPS agreed to forbear from exercising its remedies while the parties explored a potential compromise of the dispute. The parties entered a Forbearance and Accommodation Agreement on January 12, 2023, with the forbearance period terminating on February 28, 2023. As part of the Forbearance and Accommodation Agreement, Pilot paid NPS approximately $1.5 million on January 13, 2023.
On March 31, 2023, NPS and Pilot executed an Amendment to the Forbearance and Accommodation Agreement (“March 31 Amendment”) with the forbearance term extending to June 15, 2023. As part of the March 31 Amendment, Pilot paid NPS approximately $1.1 million on April 3, 2023. The March 31 Amendment also requires a conditional payment of approximately $0.2 million on June 1, 2023. Pursuant to the March 31 Amendment all deadlines in the Texas Action have been tolled through June 15, 2023.
The foregoing description of the Forbearance and Accommodation Agreement and the Amendment to the Forbearance and Accommodation Agreement constitute only a summary thereof and are qualified in their entirety by reference to the text thereof, which are attached hereto as Exhibits 10.1 and 10.2, respectively. Certain identified information in Exhibit 10.1 is redacted; such information is both not material and is the type that Blue Dolphin treats as private and confidential.
Howard Halpern
April 3, 2023
2024 E $5,852 $3.77
December $2.22 0.5X 0.1X 1.6X 0.3X
Price/Book 0.3X
* All amounts reflect Pro-forma data as if Tingo, Inc. and MICT, Inc. were combined to form Tingo Group, Inc. at the start of a given year. 2022 Per share amount is an estimate based
on 520 million average shares. **Before the end 2023, shares outstanding should approximate 520 million after conversion of preferred shares issued to Tingo, Inc. shareholders.
Tingo Group, Inc. is a global agricultural and food financial technology company with operations primarily in Africa with additional operation in Asia and the Middle East. African operations consists of a portfolio of innovative products, including a device-as-a-service smartphone and pre-loaded technology that assists its farmer customers from seed-to-sale, as well as improve their financial security by obtaining access to local, national, and global markets.
Key Investment Considerations:
Maintaining our Speculative Buy rating and increasing our 12-month price target to $6.25 from $3.00 per share due primarily to adopting an EPS valuation model (prior was a sale-per share valuation model).
Tingo Group has significant growth potential as an emerging agricultural and food financial technology company (through the acquisition of Tingo, Inc.) that provides seed-to-sale platforms for farmers in Nigeria with operations expanding to Ghana, Malawi, and other East African countries.
Entering 2023, operations in Africa had 11.4 million customers (up from 9.3 million) on Tingo’s platforms. Signed trade deals and partnerships are likely to increase the number of customer using Tingo’s platforms to at least 30 million by December 2023, with a majority being deployed to TIO’s platform in 2H23.
2022 Pro-forma revenue would have generated revenue of nearly $1.2 billion million with an operating profit of $554.6 million. We projected revenue of approximately $1.2 billion and operating income of $438 million.
In 4Q22, Tingo launched a global commodity platform and export business with the Dubai Multi Commodities Centre and in 1Q23 purchased a Nigerian food processing company. These new offerings should help support the company’s mission to increase crop production yields, reduce post-harvest losses, and provide a platform to eliminate food insecurity and enhance economic security to African farmers.
For 2023, we project EPS of $1.76 on revenue of $3 billion. Our forecast should be supported by initial growth of the company’s Africa customer base and associated transaction volumes, as well as TIO’s commodity exchange operations that is expected to contribute at least $1 billion to revenue, primarily in 2H23.
For 2024, we project EPS of $3.77 on revenue of nearly $5.8 billion. Our forecast should be supported by rapid transaction volumes growth on TIO’s Nwassa platform, an acceleration of volumes on its commodity exchange platform, and a significant contribution from Tingo Foods new facility in 2H24.
Please view our Disclosures on pages 15 - 17
37 Main Street, Cold Spring Harbor, N.Y. 11724 (631) 757-1500
Also interesting, someone bought 300K shares just a few minutes after this post…
Also interesting, TIO up 11% today, TMNA down 6%…
SectorInformation TechnologyOpens in a new window
Market cap. Micro Cap ($509.90M)
Shares outstanding 1,292,516,211
Market cap. Micro Cap ($185.01M)
Shares outstanding 163,727,382
Tmna was given original valuation around 4B upon m/a with iwbb…
Not quite sure yet how the final share count of combined entity will pan out…
I’m still trying to wrap my head around the disparity of MC’s between the two… TIO@178M
TMNA@509.9M… both of which pathetic considering verified revenues, yoy growth, etc.
With the mict/Tio entity needing a 500% increase just to bring its current market cap to 1X…
Things that make you go hmmmm…
TMNA
Got out most @.095…
Interesting tape… on the bright side, gap filled LOL
Nice!… 2.73 on deck
What a dick… and actually there there is no longer a TIO board, since change, and only own TMNA… eom
Mara down 4%… Riot up 7%…!
Nice move
Very shady looking tape…
I found it interesting that they gave Mara an implied gain over 300%, and Riot only 150% gain…15 has been my target indicated in the chart, they put it at 16…
considering Mara already went through 9 just before hitting the resistance @25… we should be opening up around 12, but the run up over the weekend pattern, consolidate Monday morning has definitely stifled the forward progress on Mara since breakout over 25….
Will see if pattern continues…
28,100!… should be trading between 12&15…