Tingo Group has responded to allegations made by Hindenburg in a short report. The company's independent directors and outside counsel conducted investigations into the allegations, which included reviewing bank statements, conducting interviews, and investigating relationships with cooperatives. The company confirmed its cash balances, clarified its relationship with mobile phone supplier UGC Technologies Limited, and addressed questions about its inventory, network providers, and export business. The company also plans to investigate allegations against the founder of Tingo Mobile and Tingo Foods, Dozy Mmobuosi.