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Thanks RD
"TMNA
TINGO INC.
Common Stock
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The Expert Market is hardly a good place to trade. I think very few shares can be expected to trade and I would expect the pps to plunge dramatically. Time will show.
Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable, multi-national fintech, agri-fintech, food processing and commodity trading company, today announced it has received a request for information from The Nasdaq Stock Market (“Nasdaq”). While the temporary suspension of trading in the Company’s Securities imposed by the Securities & Exchange Commission on November 14, 2023 expired at 11:59 pm EST on November 28, 2023, Nasdaq have advised they will continue to keep the Company’s securities halted pending their review of the requested information.
The Company intends to make its response to Nasdaq’s information request within the next 3 to 4 business days and will fully cooperate with Nasdaq to assist them in completing their review as quickly as possible, with the goal of achieving the resumption of trading in the Company’s Securities at the earliest opportunity.
Dear Laxmi,
I will after all try to transfer the money involved this week after having sold some Norwegian shares, since I think my Norwegian bank has registered the relevant information so that I will just have to provide a new sum of money and some information about the purpose of the transfer.
Thanks Laxmi,
It is too complicated for me to do it so fast, but I think I will do it before the end of February even if it somewhat expensive when it comes to the reduction of the first cash dividend. After all I look forward with excitement to the first cash dividend.
Dear Laxmi,
When I reread your post I notice one piece of information I did not pay attention to in my post: "For every 3 shares in Cow 2 shares are granted in each of the Gold, Rice and Food Cart (My Indian Meals) verticals." Since I will own 100,000 shares in Cow I will be granted 67,000 tokens/shares in each of the verticals, assuming I have paid 1 cent for each of those tokens/shares. I have already paid for 70,000 tokens/shares in each of the 9 verticals.
But I am also entitled to some tokens/shares in the verticals on the strength of my 7945 shares in ITUP. When this is taken into consideration I guess I would be entitled to a bit more than 70,000 tokens/shares in each of the verticals if I transferred a little more money. Part of my previous post may be irrelevant if the above is correctly understood.
Dear Laxmi,
This seems quite complicated to me. 1 b (i) and (ii) are what I expected. I have paid up for less in the verticals than I could have done. I paid 7,000 dollars but own almost 8,000 shares in ITUP and 100,000 shares in IREEM. Therefore I assume I could have paid about 11,000 dollars for stakes/tokens in the verticals on the basis of the above.
But there are to be 9 verticals but it is only possible to subscribe for tokens in 5 of these before the end of January. One possibility is that I may get get an allotment of about 65% in all of the 9 verticals or of roughly 100% in the 5 first verticals if I transfer no more money than the 7,000 dollars I have already transferred and no stakes in the remaining 4 verticals. My impression is that the first alternative applies. But I also get the impression that I will have the opportunity pay the roughly 4,000 dollars I have not paid so far before the end of February next year, and get the full allotment of tokens in all the verticals that I am entitled to on the basis of my stakes in ITUP and IREEM. But the cash dividend to be paid on December 22 will only be based on the 7,000 dollars I have already transferred. I hope it will be useful for other shareholders as well if you clarifiy this.
The following published by TIO about its owners may be of interest to the shareholders of TMNA?
Agri-Fintech Holdings, Inc. (formerly, Tingo, Inc.)(1) 39,826,483 13.92%
Altium Growth Fund, LP 35,486,026 12.4%
Darren Mercer 23,690,939 8.28%
Directors and Named Executive Officers
Darren Mercer 23,690,939 8.28%
Dozy Mmobuosi(1) 39,826,483 13.92%
John McMillan Scott(3) 720,000 *
Hao (Kevin) Chen(4) 330,000 *
Sir David Trippier(5) 200,000 *
Kenneth Denos(6) 45,000 *
John Brown(7) 170,000 *
Jamal Khurshid 50,000 *
C. Derek Campbell — —
Moran Amran(2) 487,500 *
Directors and executive officers as a group (9 persons)(8) 65,519,922 22.9%
____________
retired "Predictions and hopes are all we have until the facts come. :)" I agree.
down It is easier to imply that I lie than to trust what I state it appears. I claim that I expected earnings per share would be in the range 40 - 50 cents weeks before any information was available. In the European country where I live veracity and integrity are valued. I have experienced time and again that US posters don't believe me when I state that I am invested in stocks and at the same time present negative assessments of the companies. I am happy that I live in a country where honesty is esteemed.
gosox My interpretation is that you would own bonds worth 2,000 dollars paying altother 100 dollars in interest per year over 10 years. After 10 years you will receive 2,000 dollars.
gosox I had expected it to be between 40 and 40 cents but did not publish my expectation since the poster who is supposed to have a better ability to assess this question expected more or less twice my expectation. I therefore expected to be found fault with because too pessimistic if I had ventured a figure. In actual fact it turned out that my assessment was realistic.
Normally it is regarded as positive when a company buys back its own shares. There seem to be at least two ways it may be done. It may happen in the open market for cash at any price. Or it may be a negotiated deal for 20 cents per share but for a 10-year corporate bond that pays 5% annual interest. The second option is of no interest to me and I think next to no shareholder is interested since you risk not being able to sell the bond at a reasonable price.
RD We are free to accept selling any shares or not. Moreover, there is a limit to the number of shares that are bid for. But 20 cents is almost 4 times the recent bid.
The market does not seem impressed about 20 cents: 0.0572 / 0.084 (1 x 1)
Pug My impression is that the defenders of TIO did not consider all the red flags seriously. Some of them have been pointed out again and again with no effect.
I am not surprised about the halt of trading in TIO and TMNA. I am surprised that it did not happen before. I sold my shares in these companies several weeks ago assuming that trading in them could happen any day, since I thought I had good reasons for believing that the numbers published had next to no relation to the facts.
This is a copy from stocktwits that repeats part of the information I was referring to: "It's like he was so excited to share that it worked AT ALL that he didn't realize how shit and unscalable it is. No chance you got millions of people using that lol
THE USSD PART IS FINE - IT'S THE FOLLOW UP THAT IS THE PROBLEM
Place your order, then go into a separate software to transfer the money directly to Tingo, then go into a separate software to email them a screenshot proving payment has been sent, then send them another screenshot because the first one wasn't clear, then the next day you get a bag of rice delivered from the local grocery store. TRULY A REVOLUTION THAT WILL SAVE AFRICA
Big Bull name-brand non-Tingo rice. Big Bull stated they have no affiliation with Tingo." The above shows how hopeless the system is.
downthehatch If my memory does not fail me some institutions may have to buy shares if certain criteria apply. You may remember that this was discussed on the BDCO board. It is therefore possible that the institutions you refer to have done nothing to find out if this is a scam or not. I have followed this stock for roughly six months now. I have listened to he at least one conference call during this period. In the one many months ago there was a question by a person making the call. He had tested the level of activity of the farmers in Nigeria. He found next to no activity. I read posts by a bullish shareholder who had tested whether it was possible to buy one of the farm products and it was. But doing so was so cumbersome that other posters concluded that it was very inconvenient to do it. What is your comment on the information on the post I provided from another board? It showed next to no interest in what was looked into? My impression is that you and others just accept what is stated by the company without asking yourselves if it appears to be credible. I have come to the conclusion that several of the statements of TIO involve so high numbers that they are not credible in a country with so poor farmers as the ones in Nigeria.
This is a copy of a recent post in Stockwits:
"Habagou
7:49 PM
$TIO the TingoChat app has 114 total downloads. Why are their 10s of millions of subscribers not downloading their applications? The answer is glaringly obvious, they do not have 10s of millions of mobile subscribers.
appbrain.com/app/tingochat/..."
PugCap Using my common sense I find your posts more convincing than the reasoning of those who oppose your views. There may be some real business but my assessment is that if the case the real business is only a low fraction of what is claimed.
downthehatch I have read lots and lots of posts on Stocktwits during recent weeks. That has convinced me that false information is filed.
RD
Thanks for arriving at what looks like a fair compromise to me!
crudeoile24 "Konig noted that Freyr already has Giga Arctic, which he said is "set to be most capital efficient and sustainable gigafactory in the world." The factory is located in Norway, which Konig said is a strategic location that "offers access to the most cost competitive and sustainable energy sources globally." "
As a Norwegian living in Norway I would like to state that the gigafactory referred to in my view is so much wishful thinking. Biden has chosen to subsidize this business by a lot of dollars. For the gigafactory to be competitive the Norwegian government would have to do the same. It is not likely that it will be that stupid. The plunging stock price is in my view realistic since prospect are now dim rather than glittering.
RD Thanks for the information! What strikes me is the relative importance of Masala Agri Corp and Aviation - plane seats. 100 dolllars for the shares in ITUP in 3 years would be a fine reward in relation to the past pps which reached a high of roughly 13 dollara a few years ago. I still miss some information regarding the prospects for IREEM/Cow.
Dawg Yes, I sold my shares. But it is common for me to continue posting even after have sold my shares. I may have been wrong in selling my shares. I am curious to see how things work out. What has made me more and more convinced that the numbers TIO publishes are totally false is reading a very active discussion forum on TIO. The technology that has been used is quite old-fashioned and the extremely high activity that has been alleged to have taken place makes little sense for one thing.
Dawg 16 jobs vacant over a period of 11 months is hardly impressive if revenues had been hundreds and hundreds of millions of dollars as alleged by the company.
Dear Laxmi,
Thanks for your information about ITUP and the expected listing in about a year or a little more. I assume that Cow capital is expected to be listed on a stock exchange too. I provided information about the number of shares I own in the relevant companies as of the middle of September and I received confirmation from your daughter that the information had been received. I therefore saw no need for providing the same information when I voted for one of the options.
Dear Laxmi,
There is one aspect of the current situation that I think deserves some clarification. What are the currently expected scenarios for the companies ITUP and Cow capital themselves over the next 2-3 years? My assessment is that the choice between option one and option two may be influenced by these scenarios. Right now all the focus is on the verticals themselves and not the two companies which at least in the past were expected to become extremely valuable themselves. Are these expectations still valid?
Right now the pps of TIO is a bit less than 69 cents. To me it is a bit surprising that the pps does not reflect the steadily falling pps of TIO. The volume of trading in TIO is quite high,
Pug I see eye to eye with you regarding fundamentals. I just came across the same type of mistake a few minutes before I corrected yours. I have taught English in a European country and I am dismayed to see what was regarded as a very elementary mistake made again and again by Americans these days. Is your education getting progressively more inferior?
It's its real value!
It's "its claims". What happens to education in the US?
RD Thanks for additional information!
RD If it is a count of voting rights the basis for much of my first post evaporates. This is what makes sense in my world whereas this is not the case if it does not matter if a person owns 1,000 or 100,000 voting rights (shares). But it seems hard for me to decide which is the better alternative. One thing is that the first transfer of cash will likely involve very few verticals. There will therefore be little cash gained by choosing the first option. Thus little may be gained regarding one aspect of that option.
RD Actually I thought the same way when I read your first post and voted accordingly. But when I saw all the factual information I started to wonder if I voted for the alternative that served my interests best. After all I am more than 80 years old.
RD As I see it now my intuitive impression is that the second option looks better than the first. But I don't have the information I would need to make a well-considered decision. I suspect that this goes for other shareholders as well. Since one cannot give up the first option the challenge is to make it all in all as enticing as the second one if my intuitive impression is correct. Since this is a count of shareholders and not shares it to me looks somewhat similar to a toss-up. I just suggest a alternative that to me looks less arbitrary and risky for all involved than the one chosen but it is for others to decide.
RD Then I suggest a different way of deciding the issue which I think is better. I suggest it is decided by a toss-up. I am not able to decide in a rational way which option is the better one based on all the information available because the whole thing seems so complicated and uncertain. I have got the impression that all shareholders including Laxmi and his family will have to live with the consequences of the vote. If he regards one alternative as better than the other he risks that shareholders who have small stakes in this company will go for the alternative that he regards as the least good one. If the alternatives are framed in such a way that he thinks both are equally good he has little to fear from a toss-up. The challenge the way I see it is to ensure that both alternatives are equally good.
RD There is a reference here to the majority of shareholders. Does this mean that our vote has the same weight whether we own say 1,000 shares or 100,000 shares?
powerbattles The reason why I risked about 2,000 dollars is this stock is that a stockholders recommended it on another board. He had been very impressed by you and mentioned patents worth 780 million dollars. I bought these shares based on this information and a little dd which was largely your presentation of the company. Then I started acquiring more information. I usually post mostly negative posts to see how well others are able to counter the negative views I present. What you state about new managemement and the importance of marketing are valid points of view in my view but in general I am not optimistic at all about the future of BDPT.