$FNGR
FingerMotion, Inc.

2023 Q4 Form 10-Q Financial Statement

#000152013823000448 Filed on October 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $6.140M $9.279M
YoY Change -46.15% 86.22%
Cost Of Revenue $5.502M $7.438M
YoY Change -47.82% 62.92%
Gross Profit $638.0K $1.842M
YoY Change -25.69% 340.79%
Gross Profit Margin 10.39% 19.85%
Selling, General & Admin $2.405M $1.850M
YoY Change 41.51% 28.0%
% of Gross Profit 377.02% 100.46%
Research & Development $176.1K $177.0K
YoY Change -2.24% -10.68%
% of Gross Profit 27.61% 9.61%
Depreciation & Amortization $13.54K $20.00K
YoY Change -20.4% 48.48%
% of Gross Profit 2.12% 1.09%
Operating Expenses $2.599M $2.042M
YoY Change -4.46% 6.83%
Operating Profit -$1.961M -$200.3K
YoY Change 5.33% -86.59%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $15.21K $65.65K
YoY Change -102.3% -247.52%
Pretax Income -$1.946M -$134.7K
YoY Change -22.84% -91.25%
Income Tax
% Of Pretax Income
Net Earnings -$1.944M -$134.1K
YoY Change -22.9% -91.28%
Net Earnings / Revenue -31.67% -1.44%
Basic Earnings Per Share -$0.04 $0.00
Diluted Earnings Per Share -$0.04 $0.00
COMMON SHARES
Basic Shares Outstanding 52.55M shares 51.99M shares
Diluted Shares Outstanding 52.53M shares 52.12M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.935M $4.040M
YoY Change -83.7% 103.57%
Cash & Equivalents $1.935M $4.043M
Short-Term Investments
Other Short-Term Assets $5.174M $3.670M
YoY Change 10.04% -7.65%
Inventory
Prepaid Expenses
Receivables $6.381M $8.582M
Other Receivables $3.946M $3.818M
Total Short-Term Assets $17.43M $20.12M
YoY Change -19.23% 98.56%
LONG-TERM ASSETS
Property, Plant & Equipment $53.46K $60.16K
YoY Change -32.11% 170.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $136.4K $179.2K
YoY Change -56.83% -44.72%
TOTAL ASSETS
Total Short-Term Assets $17.43M $20.12M
Total Long-Term Assets $136.4K $179.2K
Total Assets $17.57M $20.30M
YoY Change -19.77% 94.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.891M $5.354M
YoY Change 194.22% 255.31%
Accrued Expenses $1.033M $730.0K
YoY Change -63.38% -37.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $4.924M $6.085M
YoY Change 1.06% 78.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.924M $6.085M
Total Long-Term Liabilities
Total Liabilities $4.924M $6.085M
YoY Change -49.28% -26.57%
SHAREHOLDERS EQUITY
Retained Earnings -$28.04M -$26.09M
YoY Change 23.74% 29.59%
Common Stock $5.254K $5.238K
YoY Change 13.43% 22.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $12.64M $14.20M
YoY Change
Total Liabilities & Shareholders Equity $17.57M $20.30M
YoY Change -19.77% 94.12%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.944M -$134.1K
YoY Change -22.9% -91.28%
Depreciation, Depletion And Amortization $13.54K $20.00K
YoY Change -20.4% 48.48%
Cash From Operating Activities -$2.083M -$2.290M
YoY Change 14.79% -31.92%
INVESTING ACTIVITIES
Capital Expenditures $380.00 $0.00
YoY Change -100.6% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$380.00 $0.00
YoY Change -99.4% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.670K 780.0K
YoY Change -99.96% -83.75%
NET CHANGE
Cash From Operating Activities -2.083M -2.290M
Cash From Investing Activities -380.0 0.000
Cash From Financing Activities 4.670K 780.0K
Net Change In Cash -2.079M -1.510M
YoY Change -120.5% -205.45%
FREE CASH FLOW
Cash From Operating Activities -$2.083M -$2.290M
Capital Expenditures $380.00 $0.00
Free Cash Flow -$2.083M -$2.290M
YoY Change 18.99% -31.84%

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-1537365 usd
us-gaap Net Income Loss
NetIncomeLoss
-1399552 usd
us-gaap Net Income Loss
NetIncomeLoss
-2981488 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-937542 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-223793 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-523734 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-529163 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1071623 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1761158 usd
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
1923286 usd
us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
3510651 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-196 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-318 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-244 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-407 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1071427 usd
CY2022Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1760840 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1923042 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3510244 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.00
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.04
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.03
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.07
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.00
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.04
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.03
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.07
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
52115546 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42811064 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51797718 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42752532 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52115546 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42811064 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51797718 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42752532 shares
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12972300 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
60000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
124250 usd
CY2023Q2 fngr Execution Of Convertible Notes
ExecutionOfConvertibleNotes
1682713 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
413808 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1264262 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13988809 usd
CY2023Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
780000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
30822 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
483086 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-937542 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-134652 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14210523 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5088250 usd
CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
435250 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-305370 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1444668 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3773462 usd
CY2022Q3 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
157250 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-223793 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1538095 usd
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2168824 usd
us-gaap Profit Loss
ProfitLoss
-1398914 usd
us-gaap Profit Loss
ProfitLoss
-2982763 usd
us-gaap Share Based Compensation
ShareBasedCompensation
629304 usd
us-gaap Share Based Compensation
ShareBasedCompensation
722642 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
36013 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27638 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1293 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7292931 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1686094 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-329727 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
892358 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
2067397 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-14789 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1289 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5327561 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1778928 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-434852 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-585539 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2673 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4874162 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3785843 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
372 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4120 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-372 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4120 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5530000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1135333 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
840000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-295333 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5530000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-27095 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-217408 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5196962 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1522629 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9240241 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
461933 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4043279 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1984562 usd
fngr Conversion Of Loan Payables To Shares
ConversionOfLoanPayablesToShares
1682713 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_80F_eus-gaap--NatureOfOperations_zSlhFbo1ODzh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note 1 –<span id="xdx_829_zqPPQIOgDKAi">Nature of Business and basis of Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FingerMotion, Inc. fka Property Management Corporation of America (the “Company”) was incorporated on January 23, 2014 under the laws of the State of Delaware. The Company then offered management and consulting services to residential and commercial real estate property owners who rent or lease their property to third party tenants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company changed its name to FingerMotion, Inc. on July 13, 2017 after a change in control. In July 2017 the Company acquired all of the outstanding shares of Finger Motion Company Limited (“FMCL”), a Hong Kong corporation that is an information technology company which specialize in operating and publishing mobile games.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Share Exchange Agreement with FMCL, effective July 13, 2017 (the “Share Exchange Agreement”), the Company agreed to exchange the outstanding equity stock of FMCL held by the FMCL Shareholders for shares of common stock of the Company. At the Closing Date, the Company issued <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20170712__20170713__us-gaap--BusinessAcquisitionAxis__custom--FingerMotionCompanyLimitedMember_pdd" title="Shares issued">12,000,000</span> shares of common stock to the FMCL shareholders. In addition, the Company issued <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20170712__20170713__us-gaap--DistributionsMadeToMemberOrLimitedPartnerByDistributionTypeAxis__us-gaap--ShareDistributionMember_pdd" title="Shares issued">600,000</span> shares to other consultants in connection with the transactions contemplated by the Share Exchange Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The transaction was accounted for as a “reverse acquisition” since, immediately following completion of the transaction, the shareholders of FMCL effectuated control of the post-combination Company. For accounting purposes, FMCL was deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of FMCL (i.e., a capital transaction involving the issuance of shares by the Company for the shares of FMCL). Accordingly, the consolidated assets, liabilities and results of operations of FMCL became the historical financial statements of FingerMotion, Inc. and its subsidiaries, and the Company’s assets, liabilities and results of operations were consolidated with FMCL beginning on the acquisition date. No step-up in basis or intangible assets or goodwill were recorded in this transaction.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As a result of the Share Exchange Agreement and the other transactions contemplated thereunder, FMCL became a wholly owned subsidiary of the Company. FMCL, a Hong Kong corporation, was formed in April 6, 2016.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On October 16, 2018, the Company through its indirect wholly-owned subsidiary, Shanghai JiuGe Business Management Co., Ltd. (“JiuGe Management”), entered into a series of agreements known as variable interest agreements (the “VIE Agreements”) pursuant to which Shanghai JiuGe Information Technology Co., Ltd. (“JiuGe Technology”) became JiuGe Management’s contractually controlled affiliate. The use of VIE agreements is a common structure used to acquire PRC corporations, particularly in certain industries in which foreign investment is restricted or forbidden by the PRC government. The VIE Agreements include a Consulting Services Agreement, a Loan Agreement, a Power of Attorney Agreement, a Call Option Agreement, and a Share Pledge Agreement in order to secure the connection and commitments of JiuGe Technology.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 7, 2019, JiuGe Technology also acquired 99% of the equity interest of Beijing XunLian (“BX”), a subsidiary that provides bulk distribution of SMS messages for JiuGe Technology customers at discounted rates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finger Motion Financial Company Limited was incorporated on January 24, 2020 and is 100% owned by FingerMotion, Inc. The company has been activated for the insurtech business during the last quarter of the fiscal year 2021 where the Big Data division secured its first contract and recorded revenue.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shanghai TengLian JiuJiu Information Communication Technology Co., Ltd. was incorporated on December 23, 2020 for the purpose of venturing into the mobile phone sales in China. It is 99% owned by JiuGe Technology.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 5, 2021, JiuGe Technology disposed of its 99% owned subsidiary, Suzhou BuGuNiao Digital Technology Co., Ltd., which was established to venture into R&amp;D projects.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zs0b363I2dg4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_z8iXVkyaqEmj">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s financial statements in conformity with generally accepted accounting principles of the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management makes its best estimate of the ultimate outcome for these items based on historical trends and other information available when the financial statements are prepared. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_z80mDuvrl0N5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_861_z4IBDbao6FZ9">Certain Risks and Uncertainties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company relies on cloud-based hosting through a global accredited hosting provider. Management believes that alternate sources are available; however, disruption or termination of this relationship could adversely affect our operating results in the near-term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Profit Loss
ProfitLoss
-2982763 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26090866 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-24691314 usd
us-gaap Profit Loss
ProfitLoss
-1398914 usd
us-gaap Revenues
Revenues
21448257 usd
us-gaap Revenues
Revenues
9838080 usd
us-gaap Revenues
Revenues
21448257 usd
us-gaap Revenues
Revenues
9838080 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
117098 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
120996 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
56942 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
42898 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
60156 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
78098 usd
us-gaap Depreciation
Depreciation
15616 usd
us-gaap Depreciation
Depreciation
5878 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
402806 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
412128 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-311745 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-298017 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
41045 usd
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
41045 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
50016 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
73066 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20397 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21760 usd
CY2022Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
730000 usd
CY2022Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.20 pure
CY2022Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.0001
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
4.00
CY2023Q2 us-gaap Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
730000 usd
CY2022Q4 fngr Closing Of Private Placement Shares
ClosingOfPrivatePlacementShares
2887500 shares
CY2022Q4 us-gaap Share Price
SharePrice
4.00
CY2022Q4 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
11550000 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
5280000 usd
CY2023Q3 fngr Advances To Suppliers
AdvancesToSuppliers
1454505 usd
CY2023Q1 fngr Advances To Suppliers
AdvancesToSuppliers
1082636 usd
CY2023Q3 fngr Intransit Capital Injection For Subsidiary
IntransitCapitalInjectionForSubsidiary
689293 usd
CY2023Q1 fngr Intransit Capital Injection For Subsidiary
IntransitCapitalInjectionForSubsidiary
720979 usd
CY2023Q3 fngr Others
Others
1673826 usd
CY2023Q1 fngr Others
Others
748050 usd
CY2023Q3 us-gaap Other Receivables
OtherReceivables
3817624 usd
CY2023Q1 us-gaap Other Receivables
OtherReceivables
2551665 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
68999 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
130109 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
64210 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
122924 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4971 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
64210 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
127895 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475 pure
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
65168 usd
CY2023Q3 fngr Imputed Interest
ImputedInterest
-958 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
64210 usd
CY2022 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2477200 shares
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1941000 usd
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
20000 shares
CY2023Q2 us-gaap Share Price
SharePrice
3.00
CY2023Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
260000 shares
CY2023Q3 us-gaap Share Price
SharePrice
3.00
CY2023Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
52381952 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
52381952 shares
CY2023 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
470000 usd
CY2022 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
539998 usd
CY2023Q2 fngr Stock Purchase Warrant
StockPurchaseWarrant
188500 shares
CY2023Q2 us-gaap Share Price
SharePrice
2.00
CY2023Q3 fngr Stock Purchase Warrant
StockPurchaseWarrant
1137668 shares
CY2023Q3 us-gaap Share Price
SharePrice
3.00
CY2023Q3 fngr Warrant On Cashless Exercise Basis
WarrantOnCashlessExerciseBasis
168000 shares
CY2023Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
121422 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
6080331
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.11
us-gaap Profit Loss
ProfitLoss
-1398914 usd
us-gaap Profit Loss
ProfitLoss
-2982763 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51797718 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42752532 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51797718 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42752532 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
fngr Effective Income Tax Rate Reconciliation Foreign Income Adjustment Percent
EffectiveIncomeTaxRateReconciliationForeignIncomeAdjustmentPercent
-0.210 pure
fngr Effective Income Tax Rate Reconciliation Foreign Income Adjustment Percent
EffectiveIncomeTaxRateReconciliationForeignIncomeAdjustmentPercent
-0.210 pure
fngr Effective Income Tax Rate Reconciliation Foreign Profit Tax Rate Percent
EffectiveIncomeTaxRateReconciliationForeignProfitTaxRatePercent
0.250 pure
fngr Effective Income Tax Rate Reconciliation Foreign Profit Tax Rate Percent
EffectiveIncomeTaxRateReconciliationForeignProfitTaxRatePercent
0.250 pure
us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.250 pure
us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.250 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000 pure
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
349888 usd
CY2023Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1884786 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
349888 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1884786 usd
CY2023Q3 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
349888 usd
CY2023Q1 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1884786 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
349888 usd
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1884786 usd

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