FingerMotion, Inc. Files 8-K on Financials

TL;DR

FING filed an 8-K detailing financial results and operations.

AI Summary

FingerMotion, Inc. filed an 8-K on May 30, 2024, reporting on its Results of Operations and Financial Condition, and providing Regulation FD Disclosure. The filing also includes Financial Statements and Exhibits. The company, formerly known as Property Management Corp of America, is incorporated in Delaware and headquartered in Singapore.

Why It Matters

This 8-K filing provides crucial updates on FingerMotion's financial performance and operational status, which is important for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine 8-K filing reporting financial information and does not appear to contain any immediately alarming or significant negative developments.

Key Players & Entities

• FingerMotion, Inc. (company) — Registrant
• Property Management Corp of America (company) — Former company name
• Delaware (jurisdiction) — State of incorporation
• Singapore (location) — Principal executive offices
• May 30, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $35.79 million — indicated): Reported annual revenue of $35.79 million which was an increase of $1.74 million
• $1.74 million — $35.79 million which was an increase of $1.74 million or 5% compared to FY 2023 (includes Tel
• $5.78 million — Products & Services business revenue of $5.78 million or 21% compared to FY 2023; Reported
• $3.94 million — ecline in SMS & MMS business revenue of $3.94 million or 60% compared to FY 2023; Reported
• $0.11 million — r annual decline in Big Data revenue of $0.11 million or 25% compared to FY 2023; Reported
• $3.86 million — to FY 2023; Reported gross profits of $3.86 million which was an increase of $1.54 million
• $1.54 million — $3.86 million which was an increase of $1.54 million or 67% compared to FY 2023; Reported
• $31.93 million — 3; Reported annual cost of revenue of $31.93 million which was an increase of $0.19 million
• $0.19 million — $31.93 million which was an increase of $0.19 million or 1% compared to FY 2023; Reported o
• $7.68 million — 2023; Reported operating expenses of $7.68 million which was a decrease of $1.31 million o
• $1.31 million — f $7.68 million which was a decrease of $1.31 million or 15% compared to FY 2023; Reported
• $3.76 million — FY 2023; Reported annual net loss of $3.76 million which was a decrease of $3.78 million o
• $3.78 million — f $3.76 million which was a decrease of $3.78 million or 50% compared to FY 2023; Basic and
• $0.07 — ; Basic and Diluted loss per share of $0.07; At February 29, 2024, FingerMotion h
• $1.52 million — At February 29, 2024, FingerMotion had $1.52 million in cash, a working capital surplus of $

Filing Documents

• fngr-20240530_8k.htm (8-K) — 37KB
• fngr-20240530_8kex99z1.htm (EX-99) — 18KB
• image_001.jpg (GRAPHIC) — 20KB
• 0001520138-24-000222.txt ( ) — 261KB
• fngr-20240530.xsd (EX-101.SCH) — 3KB
• fngr-20240530_lab.xml (EX-101.LAB) — 33KB
• fngr-20240530_pre.xml (EX-101.PRE) — 22KB
• fngr-20240530_8k_htm.xml (XML) — 4KB

02

Item 2.02 Results of Operations and Financial Condition. On May 30, 2024, FingerMotion, Inc. (the "Company") issued a news release to report its financial results for the fiscal year ended February 29, 2024. The information regarding the financial results for the fiscal year ended February 29, 2024 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

Item 7.01 Regulation FD Disclosure On May 30, 2024, the Company issued a news release to report its financial results for the fiscal year ended February 29, 2024. To review the full financial results, please view the Company's recent Form 10-K filing at www.sec.gov/edgar/search , which should be read in connection with this news release. FY 2024 Financial Summary (results expressed in US$ unless otherwise indicated): Reported annual revenue of $35.79 million which was an increase of $1.74 million or 5% compared to FY 2023 (includes Telecommunications Products & Services businesses, SMS & MMS, and Big Data); Reported Year over Year annual growth in Telecommunications Products & Services business revenue of $5.78 million or 21% compared to FY 2023; Reported Year over Year annual decline in SMS & MMS business revenue of $3.94 million or 60% compared to FY 2023; Reported Year over Year annual decline in Big Data revenue of $0.11 million or 25% compared to FY 2023; Reported gross profits of $3.86 million which was an increase of $1.54 million or 67% compared to FY 2023; Reported annual cost of revenue of $31.93 million which was an increase of $0.19 million or 1% compared to FY 2023; Reported operating expenses of $7.68 million which was a decrease of $1.31 million or 15% compared to FY 2023; Reported annual net loss of $3.76 million which was a decrease of $3.78 million or 50% compared to FY 2023; Basic and Diluted loss per share of $0.07; At February 29, 2024, FingerMotion had $1.52 million in cash, a working capital surplus of $11.97 million and a positive shareholders' equity of $12.06 million; - 2 - At February 29, 2024, total assets were $18.81 million, total current liabilities and total liabilities were $6.75 million; and 52,545,350 common shares were issued and outstanding as of February 29, 2024. Strong revenue growth year over year highlighted the financial performance. "The Company experienced a transitional year toward higher

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits Exhibit Description 99.1 News Release dated May 30, 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: May 30, 2024 By: /s/ Martin J. Shen Martin J. Shen CEO and Director - 4 -

View Full Filing

View this 8-K filing on SEC EDGAR