Investor Relation

FingerMotion, Inc. ("FingerMotion" or the "Company") (NASDAQ:FNGR), a mobile data and services company, announces that its Board of Directors, after carefully reviewing the trading history of its common stock from September 1, 2022 to the present, believes that the Company may have been the target of a market manipulation scheme involving naked short selling of fictitious shares of its common stock that were neither authorized nor issued by the Company.

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NEW YORK, NY, Oct. 19, 2022 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (“FingerMotion” or the “Company”)(Nasdaq: FNGR), a mobile data and services company, is pleased to announce a cooperation agreement between Suning.com and FingerMotion’s subsidiary, Shanghai JiuGe Information Technology Co., Ltd (“JiuGe”). The cooperation agreement makes JiuGe the provider of top-up service on Suning.com’s e-commerce portal. The agreement calls for JiuGe to provide operational support in the form of platform development, marketing and testing.

“Our Top-up business continues to expand,” said Martin Shen, CEO of FingerMotion, Inc. “We have now on-boarded 5 of the top 10 Chinese e-commerce portal sites. We believe this major achievement is related to our open-source technology that allows e-commerce portals to quickly integrate with our system. We have our sights set on future expansion and plan to continue pursuing the remaining e-commerce portals. We have found that the pandemic has accelerated the consumers online shopping preferences.”

October 2020 Warrant Extension

The Company’s board of directors has authorized a six month extension to the expiry date of the common stock purchase warrants that the Company issued on October 19, 2020 which have an expiry date of October 19, 2022 and an exercise price of $2.00 per share (the “October 2020 Warrants”). The new expiry date of the October 2020 Warrants is April 19, 2023.

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FingerMotion, Inc. (NASDAQ:FNGR) (the "Company" or "FingerMotion"), a mobile services and data company, is pleased to report its financial results for the second quarter ended August 31, 2022. To review the full financial results, please view the Company's recent Form 10-Q filing on the SEC's website at www.sec.gov/edgar/search, which should be read in connection with this news release.
Q2 2023 Financial Summary (results expressed in US$ unless otherwise indicated):

• Reported record quarterly revenue of $4.98 million (includes SMS & MMS, Telecommunications Products & Services businesses, and Big Data);
• Reported quarterly increase in Telecommunications Products & Services business revenue of $1.10 million or 64% compared to Q2 2022;
• Reported quarterly increase in Big Data revenue of $.03 million or 91% compared to Q2 2022 due to a new contract with Pacific Life Re in Asia;
• Reported quarterly decline in SMS & MMS business revenue of $1.53 million or 42% compared to Q2 2022;
• Reported quarterly cost of revenue of $4.57 million which was a decrease of $.12 million or 3% compared to Q2 2022;
• Reported quarterly loss of $1.54 million which was an increase of $.08 million or 6% compared to Q2 2022;
• Basic and Diluted loss per share of $0.04 versus a loss per share of $0.04 for Q2 2022;
• On August 31, 2022, FingerMotion had $1,984,562 in cash, a working capital surplus of $6,728,711 and positive shareholders' equity of $2,168,824;
• Total Assets were $10.46 million, Total Current Liabilities were $3.40 million and Total Liabilities were $8.29 million;
• 42,857,260 common shares were issued and outstanding as of August 31, 2022.

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