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
July 8, 2020
Date of Report (Date of earliest event reported)
FINGERMOTION,
INC.
(Exact name of registrant as specified in its charter)
| Delaware | 000-55477 | 20-0077155 |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 1460 Broadway New York, New York |
10036 |
| (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 |
| N/A | N/A | N/A |
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 8 – OTHER EVENTS
Item 8.01 Other Events
On July 8, 2020, FingerMotion, Inc. (the “Company” or “FingerMotion”) issued a news release announcing the launch of Sapientus (www.sapientus.com), the Company’s Big Data Insight arm, built to deliver data-driven solutions and insights for businesses within the insurance and financial services industries.
Sapientus is the third and most compelling component of the Company’s overall business model, empowering a suite of products and services in the Insurtech space. Specifically, the Sapientus suite of products and services will provide insurance industry partners with a breadth and depth of competitive advantages and capabilities such as:
Our mission is to deliver the next generation of data-driven insurance solutions that result in more accurate risk assessments, more efficient processes, and a more enjoyable customer experience.
“Our Sapientus platform enables us to transform and integrate the continuous stream of data from our strategic telecommunications partners, allowing our insurance industry partners to identify and select “preferred risk” customers and offering real-time transactional proposals,” stated CEO, Martin Shen. “With the launch of Sapientus, we anticipate commercializing and monetizing our Big Data Insights & Analytics platforms beginning in the first quarter of 2021, starting with our insurance industry partners.”
A copy of the news release is attached as Exhibit 99.1 hereto.
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SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
|
Exhibit |
Description |
| 99.1 | News Release dated July 8, 2020 |
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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: July 13, 2020 | By: /s/ Martin J. Shen Martin J. Shen CEO, CFO and Director |
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FingerMotion Launches Big Data Insurance Solution - Sapientus
New York, NY (July 8, 2020) - FingerMotion, Inc. (OTCQB: FNGR) (the “Company” or “FingerMotion”), a mobile services and data company, is pleased to announce the launch of Sapientus (www.sapientus.com), the Company’s Big Data Insight arm, built to deliver data-driven solutions and insights for businesses within the insurance and financial services industries.
Sapientus is the third and most compelling component of the Company’s overall business model, empowering a suite of products and services in the Insurtech space. Specifically, the Sapientus suite of products and services will provide insurance industry partners with a breadth and depth of competitive advantages and capabilities such as:
| 1. | Behavioral insights and scoring derived from a time series of live telco data, along with an expansive set of auxiliary data, enabling deeper contextual understanding of a customer’s behavior propensity and risk inclination for more granular segmentation; |
| 2. | Transactional integration giving real-time feedback enriched with risk and behavior insights on current and prospective customers, thereby further promoting digital transformations in the industry, in areas such as online underwriting, claims processing and fraud detection; |
| 3. | Insight-driven data analytic services, sufficiently adaptive to incorporate new information such as emerging claim and marketing data, and synchronizing such with our partners’ operating and risk assessment philosophy via continual learning and refinement; and |
| 4. | Our strategic partnerships with the two largest Chinese telecommunication giants provides us access to comprehensive and unbiased telco data on a real-time, unimpeded basis. By transforming and integrating telco signals with our own proprietary auxiliary data and identifiable public information, we are able to build a ground-up, flexible data structure and model to extract behavioral insights in an unprecedented manner. |
Our mission is to deliver the next generation of data-driven insurance solutions that result in more accurate risk assessments, more efficient processes, and a more enjoyable customer experience.
“Our Sapientus platform enables us to transform and integrate the continuous stream of data from our strategic telecommunications partners, allowing our insurance industry partners to identify and select “preferred risk” customers and offering real-time transactional proposals,” stated CEO, Martin Shen. “With the launch of Sapientus, we anticipate commercializing and monetizing our Big Data Insights & Analytics platforms beginning in the first quarter of 2021, starting with our insurance industry partners.”
About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of only a few companies in China with access to wholesale rechargeable minutes from China’s largest mobile phone providers that can be resold to consumers. 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 further information e-mail: info@fingermotion.com
718-269-3366
Safe Harbor Statement
This release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements give our current expectations of forecasts of future events. All statements other than statements of current or historical fact contained in this release, including statements regarding our future financial position, business strategy, new products, budgets, liquidity, cash flows, projected costs, regulatory approvals or the impact of any laws or regulations applicable to us, and plans and objectives of management for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “should,” “estimate,” “expect,” “hope,” “intend,” “may,” “plan,” “project,” “will,” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements on our current expectations about future events. 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). Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof. We do not undertake any obligation to update any such statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments.