Fingermotion Inc Stock Price, News & Analysis

FingerMotion has announced the results of its annual stockholder meeting held on November 22, 2021. Key outcomes include the election of Hsien Loong Wong, Leong Yew Poh, Michael Chan, and Ng Eng Ho to the Board of Directors, and the appointment of Centurion ZD CPA & Co. as the independent accounting firm. Additionally, the 2021 Stock Incentive Plan and executive compensation were approved, with annual votes on compensation established. Executives Martin Shen and Yew Hon Lee were re-appointed as CEO and CFO, respectively.

FingerMotion (OTCQX: FNGR) has announced that its subsidiary, JiuGe, has trademarked two new brands, 'Ji Shi Fu' and 'Baowo'. These brands aim to introduce a device protection program for telecom customers in China, potentially covering hundreds of stores across over 10 provinces. JiuGe plans to integrate these services with the help of a major American insurance firm in early 2022, targeting mobile device repairs and upgrades. Initial beta testing will occur in several key provinces, with expectations of creating new revenue streams.

FingerMotion (OTCQX:FNGR) reported Q2 2022 financial results, achieving $5.39 million in revenue, reflecting a 25% increase in SMS & MMS revenue and a 142% growth in Telecommunications Products & Services. The net loss expanded to $1.45 million, a 51% increase year-over-year. Cash stood at $878,085 with total assets of $9.38 million. The Company's gross profit margin improved from 7% to 13%, bolstered by hardware sales. Management noted strong demand and growth potential, particularly in Big Data, alongside increased operational expenses related to business expansion.

FingerMotion (OTCQX:FNGR) announced a conference call on August 25, 2021, at 1:00 p.m. ET to provide a corporate update. The company, which specializes in mobile payment and recharge platform solutions in China, aims to grow its user base and create an engaged ecosystem. FingerMotion is one of the few companies with access to wholesale rechargeable minutes from major mobile providers in China, aiming to serve over 1 billion users in the region.

FingerMotion, Inc. (OTCQX:FNGR) is set to host a corporate update call on August 25, 2021, at 1:00 p.m. ET. The call will be led by CEO Martin Shen and will address the company's latest quarterly financial results and its application for Nasdaq Capital Market listing. The company acknowledges no assurance of approval. The session will include a Q&A segment for investor inquiries. FingerMotion specializes in mobile payment solutions in China, aiming to grow its user base and eventually serve over 1 billion users.

FingerMotion (OTCQX: FNGR) announced on August 2, 2021, that it was asked by OTC Markets Group to comment on promotional activities related to its stock. The inquiry coincided with the company’s announcement of its application for listing on the Nasdaq Capital Market. FingerMotion stated it had no involvement in the promotion, which was circulated by third parties. While the company deemed the promotional materials not materially false, they cautioned against undue reliance on them. They also highlighted the involvement of third-party service providers and potential risks associated with investing in their securities.

FingerMotion, Inc. (FNGR) has submitted an application to list its common stock on the Nasdaq Capital Market. This move aims to enhance liquidity, increase corporate visibility, and enhance shareholder value. The approval remains subject to NASDAQ’s requirements. CEO Martin Shen highlighted this application as a significant milestone in the company's evolution. FingerMotion specializes in mobile payment solutions and has access to wholesale rechargeable minutes in China. The company plans to grow its user base organically, aiming to reach over 1 billion users globally.

FingerMotion (OTCQX:FNGR) announced its Q1 2022 financial results, reporting record quarterly revenue of $6.00 million, marking a 77% increase in SMS & MMS revenue and a 341% rise in Telecommunications Products & Services revenue compared to Q1 2021. Despite these gains, the company reported a quarterly loss of $909,506, a 57% increase from the previous year. It also experienced a significant rise in operational costs, including a 59% increase in general and administrative expenses. FingerMotion continues to expand its business model and aims for a revenue exceeding $24 million for FY 2022.

FingerMotion (OTCQX: FNGR) announced a collaboration between its subsidiary Xunlian Tianxia Technology and Happy Life Insurance to innovate in the digital insurance sector. This partnership aims to create data-driven insurance solutions addressing consumer needs, enhancing both parties' offerings. China's online insurance market is rapidly growing, with premiums exceeding 290 billion yuan (US$44.8 million) in 2020. The collaboration leverages Xunlian's data expertise and Happy Life's product knowledge to optimize insurance delivery and integrate big data into insurance models, targeting improved profitability and customer experience.