$Tingo Group(TIO)$ Why I like Tingo? Most people will try to buy from the farmer at as low a price as possible and sell to buyer at as high a price as possible. This makes the farmer poor and can not improve the operation. Tingo is different, it try to help the farmer to sell at as high a price as possible. Tingo will earn as high a commission as possible. Both Tingo and the farmer earn more. The farmer has more resources to Improve the operation and produce more crops for Tingo to sell. A positive feedback loop will benefit both the farmer and Tingo. How much Tingo makes per phone leased? Even if only $1 per phone leased per month, the revenue per quarter can be as high as 27mil, assuming a total of 9mil phones are leased.
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US Securities and Exchange Commission (SEC)—- Tingo the entire enterprise was a Potemkin business. It was built almost entirely on a mountain of sham documents, created to dupe Mmobuosi’s auditors and investors from 2019 till now.
“Beginning in at least 2019, Mmobuosi created fake financial statements and forged supporting material to falsely portray Tingo Mobile as a thriving and profitable enterprise with hundreds of millions of annual revenue, profit and available cash,” court documents filed by SEC said.
“In reality, throughout 2019, the company had no meaningful operations or customers and about $15 in its bank account.”