FingerMotion(FNGR)
Search documents
FingerMotion(FNGR) - 2019 Q3 - Quarterly Report
2019-01-22 11:09
Financial Performance - The Company recorded $524,425 in revenue from operations for the three-month period ended November 30, 2018, compared to $162,859 for the same period in 2017, reflecting a significant increase due to the consolidation of VIE entities and a new business model [113]. - Cost of revenue for the three-month period ended November 30, 2018, was $435,444, up from $125,923 in the same period in 2017, primarily driven by increased revenue [114]. - Operating expenses decreased to $130,819 for the three-month period ended November 30, 2018, from $502,702 in the same period in 2017, as the Company shifted focus to lower-cost operations in China [115]. - The Company incurred a net loss of $936,322 during the nine months ended November 30, 2018, and used cash in operations of $1,214,677 [117]. - As of November 30, 2018, the Company had stockholders' reserves of $475,654 and cash at the end of the period was $685,193 [119]. Business Development - The Company secured contracts with China Unicom and China Mobile to distribute mobile data across nine provinces in China [110]. - JiuGe Technology launched mobile payment and recharge services for businesses in September 2018, enhancing its service offerings [111]. - The Company plans to progressively launch three new mobile games within the next six months, targeting worldwide markets [108]. - The upcoming game "Dragon Samurai" is set to launch within the next two months, featuring a 3D landscape and various gameplay challenges [105]. Going Concern - The Company’s continuation as a going concern depends on its ability to obtain additional financing to fund operations and achieve profitability [118].