Business Context and Reporting Period
This Form 8-K was filed by Fingermotion, Inc. on September 24, 2020, reporting events occurring on that date. The company is incorporated in Delaware and maintains its principal executive offices in New York, New York.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on a specific equity transaction.
Material Changes
On September 24, 2020, the Company issued 40,000 shares of common stock to a single entity. This issuance was executed pursuant to a settlement agreement dated September 4, 2020, resolving a Business Development Consulting Agreement originally dated June 11, 2020. The shares were issued at a deemed price of $3.40 per share.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. The transaction relied upon the exemption from registration under Rule 903 of Regulation S of the U.S. Securities Act of 1933.
Investor Verification Checklist
- Verify the terms of the settlement agreement dated September 4, 2020, regarding the Business Development Consulting Agreement.
- Confirm the identity of the entity receiving the 40,000 shares of common stock.
- Review the Company's capitalization table to assess the dilution impact of this issuance.
- Validate the application of the Rule 903 of Regulation S exemption for this unregistered sale.