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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
April 17, 2024
Date of Report (Date of earliest event reported)
FINGERMOTION, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-41187 | 46-4600326 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
|
111 Somerset Road, Level 3 Singapore |
238164 | |
| (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 |
| Common Stock | FNGR | The Nasdaq Stock Market LLC |
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 7 – REGULATION FD
Item 7.01 Regulation FD Disclosure
On April 17, 2024, FingerMotion, Inc. (the “Company” or “FingerMotion”) issued a news release to announce that through its contractually controlled entity, Shanghai JiuGe Information Technology Co., Ltd. (“JiuGe Technology”) it is entering into arrangements with certain electric vehicle (“EV”) charging station providers in the PRC to allow EV owners who have subscribed to the Da Ge app to locate and charge their vehicles, which is expected to significantly expand Da Ge’s usage.
As per the arrangements, to be formed with Jiangsu YKC and Shanghai Anyo Charging Technology Co., Ltd, a SAIC Group-owned service provider operating over 400,000 charging terminals for electric vehicles, the Da Ge app will integrate with both Jiangsu YKC and Anyo Charging’s app, thus allowing electric vehicle users subscribed to Da Ge to access direct connections at these terminals.
These agreements are anticipated to provide Da Ge access to the growing Chinese EV market, including the15 million new total electric vehicles in 2023 according to the data published by the PRC Ministry of Public Security, with the subscriber figures projected to continue to ramp up in 2024 and 2025.
Da Ge, launched by FingerMotion in January 2024, connects subscribers with independent service stations providing car washing, fine car detailing, paint protective films, color changing, and maintenance. The app has thus far generated 650,000 active subscribers, with a majority of these located in first and second tier cities throughout China. Da Ge has to date onboarded 20,000 car care service stations and anticipates a strong growth in this figure by the end of this year.
“We are excited to collaborate with both Jiangsu YKC and Anyo Charging and believe this will be a very positive mutually beneficial arrangement,” said FingerMotion CEO Martin Shen. “This is a big step in further monetizing our Da Ge app and giving our subscribers a product that really facilitates the use of electric charging stations in major cities across China.”
“Future Da Ge product offerings may include the Company’s Top Up and Recharge service, car accessories, and possibly health and auto insurance, which could double our total subscriber numbers by FY 2026,” stated Mr. Shen.
A copy of the news release is attached as Exhibit 99.1 hereto.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
|
Exhibit |
Description |
|
| 99.1 | News Release dated April 17, 2024 | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
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: April 17, 2024 | By: | /s/ Martin J. Shen |
| Martin J. Shen | ||
| CEO and Director | ||
FingerMotion Entering into Arrangements to
Facilitate Widespread Use of Charging Terminals for
Subscribers of the Da Ge App
SINGAPORE, April 17, 2024 -- FingerMotion, Inc. (NASDAQ: FNGR) (the “Company” or “FingerMotion”), a mobile services and data company, today announces that through its contractually controlled entity, Shanghai JiuGe Information Technology Co., Ltd. (“JiuGe Technology”) it is entering into arrangements with certain electric vehicle (“EV”) charging station providers in the PRC to allow EV owners who have subscribed to the Da Ge app to locate and charge their vehicles, which is expected to significantly expand Da Ge’s usage.
As per the arrangements, to be formed with Jiangsu YKC and Shanghai Anyo Charging Technology Co., Ltd, a SAIC Group-owned service provider operating over 400,000 charging terminals for electric vehicles, the Da Ge app will integrate with both Jiangsu YKC and Anyo Charging’s app, thus allowing electric vehicle users subscribed to Da Ge to access direct connections at these terminals.
These agreements are anticipated to provide Da Ge access to the growing Chinese EV market, including the15 million new total electric vehicles in 2023 according to the data published by the PRC Ministry of Public Security, with the subscriber figures projected to continue to ramp up in 2024 and 2025.
Da Ge, launched by FingerMotion in January 2024, connects subscribers with independent service stations providing car washing, fine car detailing, paint protective films, color changing, and maintenance. The app has thus far generated 650,000 active subscribers, with a majority of these located in first and second tier cities throughout China. Da Ge has to date onboarded 20,000 car care service stations and anticipates a strong growth in this figure by the end of this year.
“We are excited to collaborate with both Jiangsu YKC and Anyo Charging and believe this will be a very positive mutually beneficial arrangement,” said FingerMotion CEO Martin Shen. “This is a big step in further monetizing our Da Ge app and giving our subscribers a product that really facilitates the use of electric charging stations in major cities across China.”
“Future Da Ge product offerings may include the Company’s Top Up and Recharge service, car accessories, and possibly health and auto insurance, which could double our total subscriber numbers by FY 2026,” stated Mr. Shen.
About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. As the user base of its primary business continues to grow, the Company is developing additional value-added technologies to market to its users. The vision of the Company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the Company to onboard larger customer bases. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
For more information on FingerMotion, visit: https://fingermotion.com/
Company Contact:
FingerMotion, Inc.
For further information e-mail: info@fingermotion.com
Phone: 718-269-3366
Investor Relations Contact:
Skyline Corporate
Communications Group, LLC
Scott Powell, President
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: info@skylineccg.com
Safe Harbor Statement
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States securities laws. These statements relate to analysis and other information that are based on forecasts or future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements”. We have based these forward-looking statements on our current expectations about future events or performance, including expected revenues. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our actual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons. Factors that could contribute to such differences include, but are not limited to: international, national and local general economic and market conditions; demographic changes; the ability of the Company to sustain, manage or forecast its growth; the ability of the Company to manage its VIE contracts; the ability of the Company to maintain its relationships and licenses in China; adverse publicity; competition and changes in the Chinese telecommunications market; fluctuations and difficulty in forecasting operating results; business disruptions, such as technological failures and/or cybersecurity breaches; and the other factors discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. The forward-looking statements included in this release are made only as of the date hereof. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Report Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of any offer to our securities.