MICT - MICT STOCK NEWS

MICT, Inc. has successfully completed its due diligence on Tingo Inc. following the definitive merger agreement signed on May 9, 2022. An Amended and Restated Merger Agreement has been signed, facilitated by leading advisors including Ernst & Young and Dentons. The due diligence confirmed no material concerns, providing MICT’s Board confidence in the transaction's value for shareholders. Tingo reported impressive Q1 2022 results, with revenues of $257.1 million, and anticipates continued growth. The merger will enable MICT to expand into China’s agricultural market and leverage combined resources for future opportunities.

MICT, Inc. (NASDAQ: MICT) announced it will file its Form 10-K detailing 2021 year-end financial results by June 17, 2022. The company faced delays due to COVID-related lockdowns in China, impacting the auditors' ability to complete necessary filings. CEO Darren Mercer expressed gratitude for the auditors' efforts and stockholders' support during this period. MICT is a fintech company focused on consumer services in China, with plans for market expansion. Additionally, it holds necessary licenses for securities dealings in multiple exchanges worldwide.

MICT, Inc. (Nasdaq: MICT) announced it received a notice from Nasdaq about its non-compliance with Listing Rule 5250(c)(1) due to failing to file its Q1 2022 Form 10-Q on time. The company has until June 20, 2022, to either file the report or submit a compliance plan. Delays stem from COVID-19 lockdowns in China that impeded the audit process. CEO Darren Mercer expressed optimism about completing the necessary filings before the deadline, indicating significant progress in recent days.

MICT, Inc. (Nasdaq: MICT) has appointed Sir David Trippier as a non-executive member of its Board of Directors, bringing extensive leadership experience from various sectors. Sir David has previously chaired several companies, served as a UK Government minister, and was involved in the launch of the Alternative Investment Market (AIM). MICT's CEO, Darren Mercer, believes Sir David's expertise will aid the company's merger with Tingo and growth strategy in the fintech market. Sir David aims to leverage MICT’s technology platform to tap into underserved global populations.

MICT and Tingo have announced a merger to create a profitable Nasdaq-listed Fintech and Agri-Fintech company targeting African and Asian markets. The merger aims to leverage MICT's technology in financial services and Tingo's established presence in Agri-fintech, which serves 9.3 million customers in Africa. Due diligence for the merger is currently in progress, with expectations of expanding operations and enhancing service offerings. Investors are advised to review upcoming SEC filings for detailed information regarding the merger.

Tingo and MICT have agreed to merge, creating a company projected to generate over $900 million in annual revenue. This merger aims to leverage both companies' technologies to form a comprehensive fintech platform serving primarily African and Asian markets. Tingo shareholders will hold approximately 77.5% of the new entity, with an estimated group value of $4.09 billion. The transaction is set to close by Q3 2022, pending regulatory approval. Dozy Mmobuosi will lead the newly formed company, enhancing access to financial services for millions.

MICT, Inc. (Nasdaq: MICT) received notice from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to the late filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2021. The company has 60 days from April 19, 2022, to file the report or submit a compliance plan. Delays were caused by strict COVID-19 lockdowns in China affecting audit completion. MICT expects significant revenue and profit growth and a cash balance higher than its market cap upon filing the report.

MICT, Inc. announces a delay in reporting its Q4 2021 financial results due to COVID-19 lockdowns in China affecting audit procedures. The company anticipates strong revenue and gross profit growth, along with achieving its first profitable quarter in the insurance business. MICT is also progressing in key acquisitions that may enhance profitability. The results are pending completion of the audit, which is expected once lockdowns are lifted.

MICT, Inc. (Nasdaq: MICT) has received a Notification Letter from Nasdaq regarding its stock trading below $1.00 for over 30 days. The company has a 180-day period to regain compliance by achieving a minimum bid price of $1.00 for 10 consecutive trading days. CEO Darren Mercer expressed confidence in overcoming this challenge, citing a substantial cash reserve of $105 million as of September 30, 2021, and the potential of their insurance and trading businesses. Failure to comply by July 26, 2022, could result in delisting, though an extension may be available under certain conditions.