FingerMotion Files 8-K on Operations & Financial Condition

TL;DR

**FingerMotion just dropped an 8-K on its financials, get ready for potential stock movement.**

AI Summary

FingerMotion, Inc. filed an 8-K on January 16, 2024, to report on its results of operations and financial condition, as well as Regulation FD disclosure. This filing indicates that the company is providing an update on its financial performance and other material information, which is crucial for investors to understand the company's current health and future prospects. For shareholders, this means new information is available that could influence the stock's valuation, making it important to review the full details of the financial condition and operations.

Why It Matters

This filing provides an update on FingerMotion's financial health and operational performance, which can directly impact investor sentiment and stock price. It's essential for investors to stay informed about these disclosures.

Risk Assessment

Risk Level: medium — The filing itself is a standard disclosure, but the content it refers to (results of operations and financial condition) could contain information that significantly impacts the company's risk profile.

Analyst Insight

A smart investor would seek out the full details of the 'Results of Operations and Financial Condition' and 'Regulation FD Disclosure' mentioned in this 8-K to understand the specific financial updates and their potential impact on FingerMotion's stock.

Key Players & Entities

• FingerMotion, Inc. (company) — the registrant filing the 8-K
• January 16, 2024 (date) — date of earliest event reported and filing date
• Delaware (company) — state of incorporation for FingerMotion, Inc.
• 001-41187 (company) — Commission File Number for FingerMotion, Inc.
• FNGR (company) — trading symbol for FingerMotion, Inc. Common Stock
• The Nasdaq Stock Market LLC (company) — exchange where FingerMotion, Inc. Common Stock is registered

FAQ

Key Financial Figures

• $6.14 million — icated): Reported quarterly revenue of $6.14 million (includes SMS & MMS, Telecommunications
• $5.26 million — , and Big Data) which was a decrease of $5.26 million or 46% compared to Q3 2023; Reported
• $4.22 million — Products & Services business revenue of $4.22 million or 41% compared to Q3 2023; Reported
• $5.50 million — Reported quarterly cost of revenue of $5.50 million which was a decrease of $5.04 million o
• $5.04 million — f $5.50 million which was a decrease of $5.04 million or 48% compared to Q3 2023; Reported
• $1.94 million — o Q3 2023; Reported quarterly loss of $1.94 million which was a decrease of $0.58 million o
• $0.58 million — f $1.94 million which was a decrease of $0.58 million or 23% compared to Q3 2023; Basic and
• $0.04 — ; Basic and Diluted loss per share of $0.04 versus a loss per share of $0.06 for Q3
• $0.06 — are of $0.04 versus a loss per share of $0.06 for Q3 2023; On November 30, 2023, Fi
• $1,934,565 — On November 30, 2023, FingerMotion had $1,934,565 in cash and cash equivalents, a working
• $12,510,848 — uivalents, a working capital surplus of $12,510,848 and a positive shareholders equity of $
• $12,636,828 — 8 and a positive shareholders equity of $12,636,828; Total Assets were $17.57 million, To
• $17.57 m — ity of $12,636,828; Total Assets were $17.57 million, Total Current Liabilities were $
• $4.92 million — million, Total Current Liabilities were $4.92 million and Total Liabilities were also $4.92 m
• $620,385 — nd administrative expenses increased by $620,385 or 38% during the quarter which was a r

Filing Documents

• fngr-20240116_8k.htm (8-K) — 48KB
• fngr-20240116_8kex99z1.htm (EX-99) — 23KB
• image_001.jpg (GRAPHIC) — 8KB
• 0001520138-24-000021.txt ( ) — 260KB
• fngr-20240116.xsd (EX-101.SCH) — 3KB
• fngr-20240116_lab.xml (EX-101.LAB) — 33KB
• fngr-20240116_pre.xml (EX-101.PRE) — 22KB
• fngr-20240116_8k_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On January 16, 2024, FingerMotion, Inc. (the Company) issued a news release to report its financial results for the third quarter of fiscal 2024 for the period ended November 30, 2023. The information regarding the financial results for the third fiscal quarter ended November 30, 2023 of the Company contained in Item 7.01 below is responsive to this Item 2.02 and is incorporated into this Item 2.02 by reference. The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed filed for purposes of Section 18 of the U.S. Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the U.S. Securities Act of 1933, as amended (the Securities Act), or the Exchange Act, except as expressly set forth by specific reference in such a filing. SECTION 7 – REGULATION FD

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On January 16, 2024, the Company issued a news release to report its financial results for the third quarter of fiscal 2024 for the period ended November 30, 2023. To review the full financial results, please view the Companys recent 10-Q filing at www.sec.gov/edgar/search or on the Companys website at www.fingermotion.com/investor-relations/financial-information/details, which should be read in connection with this news release. Q3 2024 Financial Summary (results expressed in US$ unless otherwise indicated): Reported quarterly revenue of $6.14 million (includes SMS & MMS, Telecommunications Products & Services businesses, and Big Data) which was a decrease of $5.26 million or 46% compared to Q3 2023; Reported quarterly decrease in Telecommunications Products & Services business revenue of $4.22 million or 41% compared to Q3 2023; Reported quarterly Big Data revenue of $.01 million compared to $.19 million in Q3 2023; Reported quarterly SMS & MMS business revenue of $.01 million compared to $.87 million in Q3 2023; Reported quarterly cost of revenue of $5.50 million which was a decrease of $5.04 million or 48% compared to Q3 2023; Reported a gross profit of $.64 million which was a decrease of $.22 million or 26% compared to Q3 2023; Reported quarterly loss of $1.94 million which was a decrease of $0.58 million or 23% compared to Q3 2023; Basic and Diluted loss per share of $0.04 versus a loss per share of $0.06 for Q3 2023; On November 30, 2023, FingerMotion had $1,934,565 in cash and cash equivalents, a working capital surplus of $12,510,848 and a positive shareholders equity of $12,636,828; Total Assets were $17.57 million, Total Current Liabilities were $4.92 million and Total Liabilities were also $4.92 million; and 52,545,350 common shares were issued and outstanding as of November 30, 2023. -2- The Company experienced a challenging market in all its business segments. Despite the market challenges,

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Description 99.1 News Release dated January 16, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) -3-

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FINGERMOTION, INC. DATE: January 16, 2024 By: /s/ Martin J. Shen Martin J. Shen CEO -4-

View Full Filing

View this 8-K filing on SEC EDGAR