8-K
FingerMotion, Inc. (FNGR)
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
December 20, 2023Date of Report (Date of earliest event reported)
FINGERMOTION, INC.
****(Exact name of registrant as specified in its charter)
| Delaware | 001-41187 | 46-4600326 |
|---|---|---|
| (State<br> or other jurisdiction of incorporation) | (Commission<br> File Number) | (IRS<br> Employer Identification No.) |
| 111 Somerset Road, Level 3 Singapore | 238164 | |
| --- | --- | |
| (Address<br> of principal executive offices) | (Zip<br> Code) |
(347)
349-5339 Registrant’s telephone number, including area code
Notapplicable.(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<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement<br> 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<br> of each class | Trading<br> Symbol (s) | Name<br> of each exchange on which registered |
|---|---|---|
| Common<br> Stock | FNGR | The<br> 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
Item7.01 Regulation FD Disclosure
On December 20, 2023, FingerMotion, Inc. (the “Company” or “FingerMotion”) issued a news release to provided an update on its Big Data subsidiary branded Sapientus. Highlights include the following:
| 1. | Big<br> Data models are well positioned for commercialization in the coming year. Sapientus expects<br> to engage more partners for commercial applications and expanded use cases. |
|---|---|
| 2. | Existing<br> partners are in the integration phase, gradually ramping up adoption, and are expected to<br> transition to large scale commercialization phase in the next 2-3 years. |
| --- | --- |
| 3. | Big<br> Data product modules are evolving at an ever-increasing pace, with insurance modules expected<br> to move beyond underwriting and risk management to sales and customer engagements. In addition,<br> a growing number of modules that extend beyond insurance will be designed and structured<br> if well aligned. |
| --- | --- |
| 4. | As<br> developmental milestones are reached from these innovations, the Company looks to move from<br> per-usage charges to profit sharing and/or commission-based arrangements. |
| --- | --- |
The past year has been transformative to Sapientus - the proprietary analytic models have been collaboratively tested and validated with empirical insurance data. The studies have demonstrated a high degree of accuracy in their predictive value in tracking substandard cases which is pivotal in the enhancement of the overall insurance underwriting experience. Within the health insurance segment, the algorithms have empowered reinsurance providers with more flexibility to manage insurance portfolios and hopefully improve profitability. Extending beyond insurance, the analytical capabilities of these intelligent models should assist in identifying ideal customers with higher engagement levels.
“We are just scratching the surface of what is possible in our Big Data division,” said Martin Shen, CEO of FingerMotion. “Reinsurance is a very large business, but as artificial intelligence has shown us, the market for predictable algorithms is almost infinite.
Looking ahead to 2024, Sapientus targets the following objectives:
| 1. | Steady<br> expansion of services to reach larger audiences via new and innovated modules that are bespoken,<br> leveraging ongoing partnerships and our integrated analytics platform; |
|---|---|
| 2. | Additional<br> re/insurer partnerships following positive receptive feedback from recent business summits;<br> and |
| --- | --- |
| 3. | Brokerage<br> services and solutions, perhaps through acquisitions or partnerships, to broaden our market<br> footprint and capture a greater scope of commercial opportunities. |
| --- | --- |
A copy of the news release is attached as Exhibit 99.1 hereto. ****
2
SECTION
9 – FINANCIAL STATEMENTS AND EXHIBITS
| Item 9.01 | Financial Statements and Exhibits |
|---|---|
| (d) | Exhibits |
| --- | --- |
| Exhibit | Description |
|---|---|
| 99.1 | News Release dated December 20, 2023 |
| 104 | Cover<br> Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |
3
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: December 20, 2023 | By: | /s/ Martin J. Shen |
| Martin J. Shen | ||
| CEO |
4
FingerMotion’sBig Data Update
SINGAPORE/ ACCESSWIRE / December 20, 2023 / FingerMotion, Inc. (NASDAQ: FNGR) (the "Company" or "FingerMotion"), a mobile services and data company, today provided an update on its Big Data subsidiary branded Sapientus. Highlights include the following:
| 1. | Big<br> Data models are well positioned for commercialization in the coming year. Sapientus expects<br> to engage more partners for commercial applications and expanded use cases. |
|---|---|
| 2. | Existing<br> partners are in the integration phase, gradually ramping up adoption, and are expected to<br> transition to large scale commercialization phase in the next 2-3 years. |
| --- | --- |
| 3. | Big<br> Data product modules are evolving at an ever-increasing pace, with insurance modules expected<br> to move beyond underwriting and risk management to sales and customer engagements. In addition,<br> a growing number of modules that extend beyond insurance will be designed and structured<br> if well aligned. |
| --- | --- |
| 4. | As<br> developmental milestones are reached from these innovations, the Company looks to move from<br> per-usage charges to profit sharing and/or commission-based arrangements. |
| --- | --- |
The past year has been transformative to Sapientus - the proprietary analytic models have been collaboratively tested and validated with empirical insurance data. The studies have demonstrated a high degree of accuracy in their predictive value in tracking substandard cases which is pivotal in the enhancement of the overall insurance underwriting experience. Within the health insurance segment, the algorithms have empowered reinsurance providers with more flexibility to manage insurance portfolios and hopefully improve profitability. Extending beyond insurance, the analytical capabilities of these intelligent models should assist in identifying ideal customers with higher engagement levels.
“We are just scratching the surface of what is possible in our Big Data division,” said Martin Shen, CEO of FingerMotion. “Reinsurance is a very large business, but as artificial intelligence has shown us, the market for predictable algorithms is almost infinite.
Looking ahead to 2024, Sapientus targets the following objectives:
| 1. | Steady<br> expansion of services to reach larger audiences via new and innovated modules that are bespoken,<br> leveraging ongoing partnerships and our integrated analytics platform; |
|---|---|
| 2. | Additional<br> re/insurer partnerships following positive receptive feedback from recent business summits;<br> and |
| --- | --- |
| 3. | Brokerage<br> services and solutions, perhaps through acquisitions or partnerships, to broaden our market<br> footprint and capture a greater scope of commercial opportunities. |
| --- | --- |
AboutFingerMotion, 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/
CompanyContact:
FingerMotion, Inc.
For further information e-mail: info@fingermotion.com
Phone: 718-269-3366
InvestorRelations 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
SafeHarbor Statement
Exceptfor the statements of historical fact contained herein, the information presented in this news release constitutes "forward-lookingstatements" as such term is used in applicable United States securities laws. These statements relate to analysis and other informationthat are based on forecasts or future results, estimates of amounts not yet determinable and assumptions of management. Any other statementsthat express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions orfuture 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-lookingstatements for various reasons. Factors that could contribute to such differences include, but are not limited to: international, nationaland local general economic and market conditions; demographic changes; the ability of the Company to sustain, manage or forecast itsgrowth; the ability of the Company to manage its VIE contracts; the ability of the Company to maintain its relationships and licensesin China; adverse publicity; competition and changes in the Chinese telecommunications market; fluctuations and difficulty in forecastingoperating results; business disruptions, such as technological failures and/or cybersecurity breaches; and the other factors discussedin 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 materiallyfrom those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements containedin this news release and in any document referred to in this news release. The forward-looking statements included in this release aremade only as of the date hereof. For forward-looking statements in this news release, the Company claims the protection of the safe harborfor forward-looking statements contained in the Private Securities Litigation Report Act of 1995. The Company assumes no obligation toupdate or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news releaseshall not constitute an offer to sell or the solicitation of any offer to our securities.