Current Report Filing (8-k)
October 21 2020 - 05:01PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
October 21, 2020
Date of Report (Date of earliest event
reported)
FINGERMOTION,
INC.
(Exact name
of registrant as specified in its charter)
Delaware |
000-55477 |
20-0077155 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1460 Broadway
New York, New York |
|
10036 |
(Address of principal executive offices) |
|
(Zip Code) |
(347) 349-5339
Registrant’s telephone number,
including area code
Not applicable.
(Former name or former address,
if changed since last report)
Check the appropriate box below if the Form 8-K is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ] |
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
[ ] |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12) |
[ ] |
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)) |
[ ] |
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol (s) |
Name of each exchange on which
registered |
N/A |
N/A |
N/A |
Indicate by check mark whether the registrant is an emerging growth
company as defined in as defined in Rule 405 of the Securities Act
of 1933 (Section 230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (Section 240.12b-2 of this
chapter).
Emerging growth
company ☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act. ☐
SECTION 2 – FINANCIAL INFORMATION
|
Item 2.02 |
Results of Operations and
Financial Condition. |
On October 21, 2020, FingerMotion, Inc. (the “Company”) issued a
news release announcing its financial results for the second
quarter ended August 31, 2020. The information regarding the
financial results for the second fiscal quarter ended August 31,
2020 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
|
Item 7.01 |
Regulation FD Disclosure |
On October 21, 2020, the Company issued a news release to report
its financial results for the second quarter ended August 31,
2020.
Q2 2021 Financial Summary (results expressed in US$ unless
otherwise indicated):
|
· |
Reported
Q2 revenue of $3.6 million (includes SMS, Sim Card and Mobile
Recharge businesses); |
|
· |
Reported
six month revenue of $6.4 million (includes SMS, Sim Card and
Mobile Recharge businesses); |
|
· |
Reported
Q2 gross profit of $258,391; |
|
· |
Reported
six month gross profit of $552,830; |
|
· |
Basic
and Diluted loss per share of $0.03; |
|
· |
At
August 31, 2020, FingerMotion had $419,707 in cash and working
capital deficit of $355,679; |
|
· |
Total
Assets were $9.06 million, Total Current Liabilities were $9.42
million and Total Liabilities were $10.62 million; |
|
· |
33,742,953
common shares were issued and outstanding as at August 31,
2020. |
“This quarter our revenues increased by 77.5% compared to revenues
in the same quarter in 2019 and our revenues for the six month
period ended August 31, 2020 increased by 114% compared to revenues
in the same period in 2019. We expect this growth in revenue
continuing throughout our fiscal year which would put us on target
for achieving an annual revenue of over $16 million for fiscal
2021,” said Martin Shen, CEO of FingerMotion, Inc. “The results we
have seen this last quarter validates our investment strategy into
new verticals. Last year our SMS business was just getting started
and now it has become a top revenue generator. We continue to
invest in developing and marketing e-commerce platforms, where we
expect to see a return on our investments by January 2021. We are
very pleased with our quarter over quarter growth and expect it to
continue increasing.”
The unaudited condensed consolidated interim financial statements
for the quarter ended August 31, 2020 are available on EDGAR and
should be read in connection with this news release.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
|
Item 9.01 |
Financial Statements and Exhibits |
(d) Exhibits
Exhibit
|
Description
|
99.1 |
News Release dated October 21, 2020. |
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: October
21, 2020 |
By: /s/ Martin J.
Shen Martin J. Shen
CEO and CFO
|
|
|
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