InvestorNewsBreaks – FingerMotion Inc. (NASDAQ: FNGR) Strengthens Liquidity, Cuts Monthly Cash Burn Nearly 30% Under New Management

FingerMotion (NASDAQ: FNGR) reported improvements completed during the first 30 days under new management, including approximately $5.1 million in cash and cash equivalents, a nearly 30% reduction in monthly cash burn and termination of its at-the-market issuance sales agreement with R.F. Lafferty & Co. The improved cash position reflects recent financing activity, including a registered direct offering completed Aug. 31, along with tighter working-capital management. The company said it is continuing to pursue cost and process improvements while reallocating resources toward its North American enterprise compute strategy.

To view the full press release, visit https://ibn.fm/YKc8s

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.

NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR

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