FingerMotion, Inc. Files 10-Q for August 2024 Period

TL;DR

FNGR 10-Q filed. Financials for Aug 31, 2024 period out.

AI Summary

FingerMotion, Inc. filed its 10-Q for the period ending August 31, 2024. The company, previously known as Property Management Corp of America, is based in Singapore and operates in the prepackaged software industry. The filing details financial information for the fiscal year ending February 28, 2025, with a reporting period from June 1, 2024, to August 31, 2024.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for FingerMotion, Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The company operates in the software sector, which can be subject to rapid technological changes and competitive pressures, and the filing itself does not provide specific risk disclosures to assess.

Key Numbers

• 20240831 — Reporting Period End Date (Indicates the end of the financial reporting quarter.)
• 20250228 — Fiscal Year End Date (Marks the conclusion of the company's annual financial reporting cycle.)

Key Players & Entities

• FingerMotion, Inc. (company) — Filer of the 10-Q
• Property Management Corp of America (company) — Former name of FingerMotion, Inc.
• 20240831 (date) — End of the reporting period
• 20250228 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.0001 — ge on which registered Common Stock, $0.0001 par value FNGR The Nasdaq Stock Mar

Filing Documents

• fngr-20240831_10q.htm (10-Q) — 1142KB
• fngr-20240831_10qex10z1.htm (EX-10) — 105KB
• fngr-20240831_10qex31z1.htm (EX-31) — 8KB
• fngr-20240831_10qex31z2.htm (EX-31) — 8KB
• fngr-20240831_10qex32z1.htm (EX-32) — 4KB
• image_001.jpg (GRAPHIC) — 75KB
• 0001520138-24-000360.txt ( ) — 6125KB
• fngr-20240831.xsd (EX-101.SCH) — 46KB
• fngr-20240831_cal.xml (EX-101.CAL) — 56KB
• fngr-20240831_def.xml (EX-101.DEF) — 155KB
• fngr-20240831_lab.xml (EX-101.LAB) — 354KB
• fngr-20240831_pre.xml (EX-101.PRE) — 306KB
• fngr-20240831_10q_htm.xml (XML) — 839KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 3

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 3

– MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2 – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 27 Three Months Ended August 31, 2024 Compared to the Three Months Ended August 31, 2023 37 Six Months Ended August 31, 2024 Compared to the Six Months Ended August 31, 2023 41 Liquidity and Capital Resources 44

- QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 47

– CONTROLS AND PROCEDURES

ITEM 4 – CONTROLS AND PROCEDURES 47 Evaluation of Disclosure Controls and Procedures 47 Changes in internal control over financial reporting 48

– OTHER INFORMATION

PART II – OTHER INFORMATION 49

– LEGAL PROCEEDINGS

ITEM 1 – LEGAL PROCEEDINGS 49

– RISK FACTORS

ITEM 1A – RISK FACTORS 49

– UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2 – UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 71

– DEFAULTS UPON SENIOR SECURITIES

ITEM 3 – DEFAULTS UPON SENIOR SECURITIES 71

– MINE SAFETY DISCLOSURES

ITEM 4 – MINE SAFETY DISCLOSURES 71

– OTHER INFORMATION

ITEM 5 – OTHER INFORMATION 71

– EXHIBITS

ITEM 6 – EXHIBITS 72 2

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 3 FINGERMOTION, INC. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS For the six months ended August 31, 2024 (Unaudited - Expressed in U.S. Dollars) 4 FingerMotion, Inc. Condensed Consolidated Balance Sheets August 31, February 29, 2024 2024 ASSETS (Unaudited) Current Assets Cash and cash equivalents $ 810,284 $ 1,517,232 Accounts receivable 21,484,241 9,153,692 Prepayment and deposit 5,631,782 5,538,401 Other receivables 2,022,095 2,515,593 Total Current Assets 29,948,402 18,724,918 Non-current Assets Equipment 34,274 45,706 Intangible assets 20,449 30,456 Right-of-use asset 185,750 13,734 Total Non-current Assets 240,473 89,896 TOTAL ASSETS $ 30,188,875 $ 18,814,814 LIABILITIES AND SHAREHOLDER'S DEFICIT Current Liabilities Accounts payable $ 15,226,681 $ 5,153,359 Accrual and other payables 2,265,997 1,595,760 Loan payable 1,024,688 — Stock subscription receivables 1,605,000 — Lease liability, current portion 117,175 4,796 Total Current Liabilities 20,239,541 6,753,915 Non-current Liabilities Lease liability, non-current portion 70,962 — Total Non-current Liabilities 70,962 — TOTAL LIABILITIES $ 20,310,503 $ 6,753,915 SHAREHOLDERS' EQUITY Preferred stock, par value $ .0001 per share; Authorized 1,000,000 shares; issued and outstanding - 0 - shares. — — Common Stock, par value $ .0001 per share; Authorized 200,000,000 shares; issued and outstanding 52,712,850 shares and 52,545,350 issued and outstanding at August 31, 2024 and February 29, 2024 respectively 5,271 5,254 Additional paid-in capital 40,662,355 40,292,778 Additional paid-in capital - stock options 1,656,321 1,037,276 Accumulated deficit ( 31,792,966 ) ( 28,448,833 ) Accumulated other comprehensive income ( 607,145 ) ( 782,362 ) Stockholders' equity before non-controlling interests 9,923,836 12,104,113 Non-controlling interests ( 45,4

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