FingerMotion (NASDAQ: FNGR), a mobile services and data company, is responding to the Oct. 3, 2023, short seller report issued by Capybara Research, a short-selling research firm. According to the statement, FingerMotion management reviewed the report and believe that the report contains errors, unsupported speculations and inaccurate interpretations of events; management and the company’s board of directors are planning further review and examination of allegations and misinformation contained in the report. The company “will take whatever necessary and appropriate actions may be required to protect the interest of its shareholders,” the announcement stated. “The company is already in the process of identifying and engaging experts who can assist it in identifying the perpetrators behind this coordinated action. The company endeavors to provide full and accurate disclosure to investors and rebut any false claims that attempt to impair market confidence in FingerMotion’s business, operations and financial statements. The company is committed to maintaining the highest standards of corporate governance, as well as transparent and timely disclosure in compliance with the applicable rules and regulations of the United States Securities and Exchange Commission and the NASDAQ rules.” The announcement also noted that the company has filed the Form S-3 registration statement, which was declared effective by the SEC on Sept. 29, 2023.
To view the full press release, visit https://ibn.fm/fAWWI
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 more than 1 billion users in the China market and expand the model to other regional markets. For more information about the company, please visit www.FingerMotion.com.
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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