MICT Scheduled to File First Quarter 2022 Financial Results Ahead of Close of Business Friday, July 22, 2022

Rhea-AI Summary

MICT, Inc. (NASDAQ: MICT) announced its intention to file Form 10-Q for Q1 2022 by July 22, 2022. CEO Darren Mercer noted delays due to stringent COVID-19 lockdowns in China but confirmed that their financial results are ready for submission. With this filing, they will be current with SEC obligations. The company specializes in consumer fintech services across 130 cities in China and is expanding its offerings internationally. Future reports are expected to be timely as the Chinese lockdown situation improves.

Positive

• Completing the Q1 2022 Form 10-Q filing will bring MICT current with SEC requirements.
• Expansion plans across approximately 130 cities in China highlight growth potential.

Negative

• Delays in financial reporting due to COVID-19 lockdowns may affect investor confidence.

MONTVALE, NJ, July 20, 2022 (GLOBE NEWSWIRE) -- MICT, Inc. (NASDAQ: MICT) (“MICT” or “Company”) today announces its intention to file its Form 10-Q outlining first quarter 2022 financial results by close of business on Friday, July 22, 2022.

Darren Mercer, MICT’s CEO comments, “Following the unavoidable delays that arose due to the extremely strict COVID-19 lockdown protocols imposed throughout large parts of China, and now that our 2021 year-end results have been reported, we are pleased to report that we and our auditors have completed our first quarter 10-Q report and expect to file it by end of business day on Friday, July 22, 2022. With this filing complete, we will be current with our SEC quarterly filings. We thank our employees and auditors for their dedication and hard work, and our stockholders for their continued support and patience, as we manage through these unavoidable circumstances. With lockdowns in China beginning to ease, we expect future periods to be completed in a timely manner. We look forward to sharing our results by Friday.”

About MICT

MICT is a financial technology business principally focused on the growth and development of a suite of consumer fintech services across approximately 130 cities in China, with planned expansion into additional markets. MICT has developed highly scalable proprietary platforms for insurance products (B2B, B2B2C and B2C) and financial services/products (B2C), the technology for which is highly adaptable for other applications and markets. MICT has acquired and holds the requisite license and approvals with the Hong Kong Securities and Futures Commission to deal in securities and provide securities advisory and asset management services. MICT also has memberships/registrations with the Hong Kong Stock Exchange, the London Stock Exchange and the requisite Hong Kong and China Direct clearing companies. MICT’s financial services business and first financial services product, the Magpie Invest app, is able to trade securities on NASDAQ, NYSE, TMX, HKSE, China Stock Connect, LSE, the Frankfurt Stock Exchange and the Paris Stock Exchange.

Cautionary Note Regarding and Forward-Looking Statements

This press release and statements of each of Tingo and MICT’s management made in connection therewith contain “forward-looking statements” (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). The words “believe,” “may” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Tingo’s and MICT’s respective current expectations and assumptions and are subject to significant risks and uncertainties that could cause actual results (including whether the Merger will actually be consummated and the anticipated benefits of the Merger to the businesses of each of Tingo and MICT as described herein) to differ materially from those contemplated in such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in each of Tingo’s and MICT’s filings with the Securities and Exchange Commission (“SEC”). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Neither Tingo nor MICT undertakes any obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. The inclusion of any statement in this release does not constitute an admission by Tingo, MICT or any other person that the events or circumstances described in such statements will take place as described or are material.

MICT Contact Information
Email: info@mict-inc.com
Phone: (201) 225-0190

FAQ

When will MICT file its Q1 2022 financial results?

MICT plans to file its Q1 2022 Form 10-Q by July 22, 2022.

What is MICT's business focus?

MICT is focused on developing consumer fintech services and expanding into new markets.

What caused delays in MICT's financial reporting?

The delays were mainly due to strict COVID-19 lockdown protocols in China.

How many cities does MICT operate in?

MICT operates across approximately 130 cities in China.

What are the implications of MICT being current with SEC filings?

Being current with SEC filings can enhance investor confidence and provide transparency.