FingerMotion’s New Management Highlights Strengthened Liquidity and Reduced Cash Burn in its First 30 Days

New leadership at FingerMotion reports higher cash, lower burn, and the end of its at-the-market equity issuance program.

Rhea-AI Summary

FingerMotion (FNGR) reported that in the first 30 days under new management it has approximately $5.1 million in cash and has reduced its monthly cash burn by nearly 30%.

The company attributes the stronger liquidity to recent financing activity, including a registered direct offering completed on August 31, 2026, and tighter working-capital management. New leadership implemented a company-wide efficiency program targeting overhead, vendor spend, and non-core costs, and plans to pursue further process improvements while reallocating resources toward a North American enterprise compute strategy.

FingerMotion also terminated its at-the-market issuance sales agreement with R.F. Lafferty & Co., preferring more discrete, negotiated financings in the near term.

Positive

• Cash and cash equivalents of approximately $5.1 million as of the release date
• Monthly cash burn reduced by nearly 30% in the first 30 days under new management
• Company-wide efficiency program implemented targeting overhead, vendor spend, and non-core costs
• Registered direct offering completed on August 31, 2026, supporting the improved cash position
• ATM facility terminated, ending the at-the-market issuance agreement with R.F. Lafferty & Co.

Negative

• None.

Market Context

The Aug. 31 registered direct offering reported $4.0 million in net proceeds under an effective S-3,...

Analysis

The Aug. 31 registered direct offering reported $4.0 million in net proceeds under an effective S-3, contextualizing the release’s cash update and financing-related ATM termination.

Key Figures

Cash and cash equivalents: $5.1 million Monthly cash burn reduction: Nearly 30% Management period: 30 days

Cash and cash equivalents

$5.1 million

As of the release date

Monthly cash burn reduction

Nearly 30%

During the first 30 days under new management

Management period

30 days

Initial period under the new management team

Key Terms

at-the-market (atm)

1 terms

at-the-market (atm) financial

"Termination of at-the-market (ATM) facility"

An at-the-market (ATM) offering is a method a publicly traded company uses to sell newly issued shares directly into the open market over time at prevailing market prices, typically through a broker. It matters because it lets a company raise cash gradually rather than in one large block; for investors, an ATM can increase the supply of shares and influence short-term price movements, like a store restocking small amounts instead of unloading a full shipment at once.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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In its initial month under the new team, the Company reports $5.1 million in cash on the balance sheet and an approximate 30% reduction in monthly cash burn 

WEST PALM BEACH, Fla., Sept. 11, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) (“FingerMotion” or the “Company”) today reported improvements completed in the first 30 days under new management, including strengthened liquidity, improved operating discipline, capital-markets activity, and a new strategic direction.

Liquidity

As of the date of this release, the Company reports:

• Cash and cash equivalents of approximately $5.1 million.
  
  

The improved cash position reflects recent financing activity, including the Company’s registered direct offering completed on August 31, 2026, together with tighter working-capital management.

Operating efficiencies and cash burn

In its first 30 days, new management implemented a company-wide efficiency program focused on overhead, vendor spend, and non-core costs. FingerMotion also reduced monthly cash burn by nearly 30%. The Company intends to continue identifying additional cost and process improvements as it reallocates resources toward its North American enterprise compute strategy.

Termination of at-the-market (ATM) facility

The Company confirmed that it has terminated its at-the-market issuance sales agreement with R.F. Lafferty & Co., Inc., originally dated October 23, 2025. New management determined that, given current market conditions, terminating the ATM was prudent and consistent with a preference for more discrete, negotiated financings in the immediate term.

“Thirty days is a short window, and the team used it to implement a stronger foundation under this company,” said Jolie Kahn, Chief Executive Officer. “We have more cash on the balance sheet, we cut monthly burn by nearly 30 percent in our first month, and we terminated the legacy ATM. Those steps create operating room as we concentrate FingerMotion on North American compute infrastructure as the basis of our long term plan.”

Chris Polimeni, Chief Financial Officer, added: “In our initial month, the combination of approximately $5.1 million of unrestricted cash and a lower run-rate burn gives us a more durable near-term liquidity profile. We will evaluate future realignment with the same financial discipline—structure, consideration, working-capital effects, and residual liabilities— as we seek to commit to a path to strengthen the Company’s balance sheet and build shareholder value.”

About FingerMotion, Inc.

FingerMotion, Inc. (Nasdaq: FNGR) is a technology company historically focused on mobile payment, recharge, and data-analytics markets in the People’s Republic of China. Under current management, the Company is extending its strategy into enterprise AI and high-performance computing infrastructure in North America, including through its equity interest in Lyken AI Computing Inc., while evaluating a divestiture of its China operations.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding cash balances, restricted cash, cash-burn reductions, capital-markets strategy, the termination of the ATM facility, the planned divestiture of China operations, and the Company’s North American compute strategy. Forward-looking statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including the Company’s ability to sustain reduced cash burn, obtain additional capital on acceptable terms, complete any divestiture, execute its compute strategy, and the risks described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company undertakes no obligation to update forward-looking statements except as required by law.

Investor Contact

FingerMotion, Inc.
Investor Relations
IR@fingermotion.com
www.fingermotion.com

FAQ

What specific areas did FingerMotion’s new efficiency program focus on?

The company-wide efficiency program introduced in the first 30 days under new management focused on overhead, vendor spend, and non-core costs, with the aim of lowering the monthly cash burn and improving operating discipline.

Why did FingerMotion terminate its at-the-market (ATM) facility with R.F. Lafferty & Co.?

New management determined that, given current market conditions, terminating the at-the-market issuance sales agreement with R.F. Lafferty & Co. was prudent and aligned with a preference for more discrete, negotiated financings in the immediate term.

What strategic direction is FingerMotion emphasizing under the new management team?

The company stated that it is concentrating on a North American enterprise compute strategy, reallocating resources toward North American compute infrastructure as the basis of its long-term plan.

How does management describe FingerMotion’s near-term liquidity profile after these changes?

The Chief Financial Officer said that the combination of approximately $5.1 million of unrestricted cash and a lower run-rate burn gives the company a more durable near-term liquidity profile.