If you stick your head in the sand, keep your mouth closed.
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I think once the financing is in place they will.
FingerMotion Provides Supplemental Corporate Update
Press Release | 08/13/2019
NEW YORK, Aug. 13, 2019 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (OTC QB: FNGR), a US FinTech company with mobile payment and recharge platform operations in China, today provided a supplemental corporate update in a letter from its CEO Martin Shen to its shareholders.
To Our Shareholders
The China Unicom Portal Partnership
The China Unicom (NYSE: CHU) deal was an extremely positive step for our company. Because of this agreement, we were able to onboard companies such as Pinduoduo (NASDAQ: PDD), JD.com (NYSE: JD), and Alibaba’s Tmall to our platform. We believe that this agreement validates our business model of targeting top-tiered e-commerce platforms and showcases our capability to handle our e-commerce partner’s significant user base. These e-commerce sites would likely not have allowed us to interface with their platforms unless they were convinced we had the capability to process over a billion transactions per month.
The partnership agreement between FingerMotion and China Unicom allows FingerMotion to have direct access to users for their top-up fulfillment, and also allows FingerMotion to sell any and all mobile phone products available from China Unicom through the China Unicom brand portals. China Unicom will remain responsible for all inventory and fulfilment costs of physical products, meaning FingerMotion will have very limited capital costs in handing all revenues coming through the portals. This partnership allows FingerMotion to share profits with the second largest telecommunications company in China. The expected rollout of the China Unicom portals should begin before November 2019.
SMS Business
The SMS business through China Unicom is now in full operation. While the overall size of the top-up market will continue to grow organically, we believe that growth in the SMS market will accelerate.
In the past, SPAM has been a major problem plaguing the SMS industry as there was an oversaturation of messages that were not being policed. Recently, the government of China instituted a policy of oversight, which curbed and eventually stopped SPAM messages. Since the government essentially reviews all messages before they are sent, SMS in China is now essentially SPAM-free with respect to legitimate users, and we are poised to take advantage of this new landscape.
Our business model relies on clients who regularly send messages to their retail customer base. We buy our messages at bulk wholesale prices, then immediately sell the messages to our retail partners, allowing them to share, in part, in the discounted rates. This allows us to generate revenue and increase our margins with little risk of inventory. Unlike our portal business with China Unicom, we grant our customers 30-day payment terms, so this business requires us to invest in carrying client receivables.
Big Data Insights
Our previous press release mentioned Big Data. Big Data means all the metadata that FingerMotion can aggregate from the massive China Unicom user bases of the top-tiered e-commerce platforms. While we will not own the data, we are responsible for collecting, storing, and securing this data, and we will be given access to analyze and potentially formulate powerful conclusions from the accessed information. Our analytics team has already begun gathering the information. We predict that using Big Data could represent a major growth driver and become a business multiplier for us. However, to ensure adequate development, we predict that we are at least 6 months to a year away from formally introducing this business unit.
We are well aware of the obligations we have to consumers to keep their information private and safe. We will only use data we accumulate with each individual consumer’s permission and we will explain what information we wish to obtain, and how we will use this information to save money for the consumer.
Capital Requirements
Almost all rapidly growing e-commerce companies need money for marketing. Our need for working capital arises from the structuring of the top-up transactions from e-commerce companies. The e-commerce company top-ups require us to have funds on account with the telecommunications companies. The SMS business is also capital intensive because we need to buy the messages at least 30 days in advance of payment. However, we do not need marketing money to increase our user-base, unlike most FinTech companies, which spend massive amounts of money to capture and retain users. Therefore, we continue to be committed in pursuing financing options.
Corporate Governance and Transparency
We want to reiterate that we are a US company with operations in China. Most of our e-commerce competitors in China, if not all of them, are foreign filers. Therefore, as a US filer, we believe we offer a greater level of transparency and oversight. As a company, we are working to become Sarbanes-Oxley compliant, and we have been actively working to finalize our Corporate Governance and Code of Conduct policies.
In line with future planning, we have hired an in-house investor relations representative to assist in answering investors’ questions. In addition, we plan to update our website and keep the information up-to-date and current. We hope you appreciate our efforts in this regard as we move to establish a better rapport with our investors.
Our focus is on sustainable profitability. Like other e-commerce FinTech companies, we are focused on customer acquisition and growing our Gross Transaction Volume (GTV). But our strategic relationships also give us unprecedented access to users and the ability to sell a wide array of products and services to this expansive user base. We believe our inflection point to profitability is only months away, and we hope that our investors appreciate the progress we have made this year and can see the future direction of our company as we do.
Sincerely
Martin Shen
CEO, FingerMotion Inc.
Serious Investors should immediately place these shares on their BUY LIST
http://www.wallstreetresearcher.com/Tech%20Talk/FNGR.html
Wishful thinking. You are not rude.
It is a message board. QUESTION EVERYTHING! Even this.
For all you know, you may be dealing with one of these guys...
I don't disagree people are alive because of DcVax. I believe in the treatment. THIS IS AN INVESTMENT BOARD. The investment sucks. Run away. Run, run, run away.
Hahaha! I've heard stuff like that for years
Try again.
That wasn't my quote....
Although I was here during the $12 decline. Crying the whole way down.
Now I am just crying to others to stay away!
Weren't you saying the same thing about NWBO?
Wasn't Les a good guy and you and him were besties too?
Losing money on investing has never been so easy.
Aaaaaiiiieeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee..... Thump.
(Probably should delete some of those e's it is only at .19. lol)
Buying opportunity for you here Tilt.
Sell your plane to buy more of this joke?
At least your plane goes up (I hope).
He is not honest! I call BS on that!
He told investors that he was spinning off AtoZpay to get the short sellers off his back and that would initiate a short squeeze.
This occurred in May of 2018. He then sold investors out by caving into short sellers and giving them an out to close their positions.
That just proves he cares nothing about the people who invest with him.
Don't give me this other BS about being an "accounting procedure". Show me another company that issued paper shares for an "accounting procedure"
I live in the real world, not some imaginary world where I pretend all the CEO's of the companies I invest in are my friend. SMH
Once shyster, always a shyster.
23 years ago he was 30. Old enough to know what he was doing.
Brent Suen suspended for six months?
Is this a CEO you can trust?
Brent Yee Suen (Registered Representative, Dallas, Texas) submitted an offer of Settlement pursuant to which he was suspended from association with any NASD member in any capacity for six months. Without admitting or denying the allegations, Suen consented to the described sanction and to the entry of findings that he prepared and delivered misleading letters to a mortgage company and financial services company in regard to his employment with his member firm to obtain a residential mortgage.
http://www.finra.org/sites/default/files/MonthlyDisciplinaryActionsJanuary1996.pdf
I highly doubt that. All of Brents conference calls are fluff. Nothing about reality. We may do this, we plan to do that... if you have been around long enough, you know he only is doing them because Andy and Kasey bullied him into it.
He has no clue on how to run a real company. He only knows how to position mirrors and run the smoke machine.
FINGER MOTION PROVIDES CORPORATE UPDATE
https://finance.yahoo.com/news/fingermotion-provides-corporate-134717062.html
What do you think about that MD1225? I have been investing for over 20 years and see this as a great opportunity. Despite your "expert" opinion.
Hahahahahahahahahahahahahahahahaha!
20 years experience?
Could you let us know if you've ever had a winner in that time?
CGNH? NWBO? PPHM?
Just want to insure people don't get misled MD. Keeping it real.
And I am sure it went into all 400 of their spam directories.
Unsolicited email is spam.
Another winning idea from our CEO Bernt Suet. SMH
Notice how his profile pic looks like the kid from the movie UP?
NOW THAT'S PROFESSIONAL! I'm sure it's winning large investment firms left and right.
Who is the accountant for the AtoZ share "accounting procedure"?
Please ask Brent when you talk to him next. As a shareholder he should be open to you about this. I would love to discuss what the purpose of this was.
As far as AtoZ goes, it is not a "small" portion of the company. It is all of Indonesia. Indonesia is the largest consumer country in all of Asia. That is why Brent is trying to start food delivery there. (guess if you can't get anything else to work, why not deliver pizza's right?)
Speaking of food delivery... have you googled how many food delivery services there are in Indonesia? Thousands! Not including every Tom, Dick and Harry riding a bike. I highly doubt GRAB or any of the big boys is interested in this.
Quite the spin on the spin off....
I sure hope this is something else you made up and not something Brent told you.
Listen closely....
Brent sold a short squeeze to large shareholders back in May of 2018 using the AtoZ paper share spin off as a selling point. This I know for a fact. He lied. He reneged, whatever. He sold all investors down the river.
Please tell me what accounting purpose a paper share spin off is for? Why is no one else doing it if it was accounting purposes?
C'mon MD throw us a bone. Enlighten us.
Is Najarian leaving BOD a good sign?
I think not.
Time to sell AtoZ Pay to keep company afloat. Just sayin.
When AtoZ pay sells, I will move on.
12000 shares of that POS.
Until then, I am here to stay and try to bring some accountability to Weyland Tech and posters here.
If you are going to give opinion state it as that. Other than that provide a link to the facts.
I highly doubt there are no shares available. If that were true investors would be all over this and the stock would skyrocket.
I also highly doubt that WEYL is doing some huge deal that will rise the stock. News like that doesn't stay secret and again, the stock would skyrocket.
Personally, I think the CEO Brent Suen is setting you up MD. All of your posts here are prime material for someone to get locked up for insider trading if they are true. And for your sake (not Brents) I hope it isn't true.
Please provide a link showing where you got this information.
Otherwise anyone with common sense will agree with Lara Z.
China Unicom! 4th largest cell company worldwide!
https://en.wikipedia.org/wiki/China_Unicom
We're vacationing in China this year.
What year?
2021 is our year!
Looks like I will be able to buy my shares back at .18 where I sold them.
Is that what AtoZ shares are worth?
Anyone else have a guess on the AtoZ shares value? Guess on when it will be sold?
Which is it MD1225? News or no news?
News?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149943026
Or no news?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149631713
You are a nice guy, but really a little over zealous. Great enthusiasm, but I think you are leading people who don't know any better to not do their due diligence on this company and it's CEO. I wish I had done more before I invested. Can you tell me how many companies Brent Suen has bankrupted? When you can, come back and talk to me.
This sounds so similar...
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130177376
All I am asking you to do is deal with reality. If this stock is going up, it is only because the CEO paid a company with stock that he gave them under the radar so he didn't have to 8k it. The only way this is uplisting to the NASDAQ is a reverse split.
Don't give me this line the CEO Brent Suen uses that people didn't invest in his company for fundamentals are suckers. HE ADVERTISED A SHORT SQUEEZE TO POTENTIAL INVESTORS TO GET THEM TO INVEST BACK IN MAY OF 2018!!! Why go to all the trouble of a paper dividend then?
Then he screwed them all by selling stock to short investors to allow them out of their position. Now there are dozens of investors stuck in their positions with millions of shares waiting to sell. Don't think that they won't push the stock down when it rises.
Bottom line, this company is not to be trusted. Period.
Probably not. NWBO is pointless.
SMH. You have to be joking?
LP doesn't want these trial results published. Everyone will see how her and Les misled all investors. Trial will stay blinded forever.
Need to sell AtoZpay to continue operations
From the latest 10Q
Finger Funk.
Good news and still ran out of gas.
Buyers in China must still be on holiday celebrating the 4th of July.
Nice trip down memory lane...
With pages 29, 30 and 31 all about me, I must say I felt the love.
Wonder what they would say now as most here (now that I have seen the truth) call me a basher or a short and ask me what I am doing here since I don't own the stock.
Hard to not look back when you've lost so much. But I have my finger on a great new investment.
John Denobile....
Read this article.
https://seekingalpha.com/instablog/22554301-teri-buhl/3292835-the-seedy-world-of-microcap-stock-advisors
This paragraph stands out...
Significantly being the key word in that sentence.
LP & LG have never been transparent. That's why.
A lot of smarter people than me have said the results will be squashed. I didn't used to believe them, and I do now.
This whole trial has been a joke. I call BS on wanting to go it alone. That was more of a "I don't want anyone to catch on what a mess we've made of the trial"
Linda Liau is a genius. Only reason I ever got involved. It's a shame this opportunity has been totally screwed up by NWBO.
I agree. Not enough buying to stop any short interest. No one realizes what that PR really means for FNGR.
I think if someone wrote an article explaining it, it may get the interest it deserves.
Global Mobile Payments Market to Reach $3.6 Trillion by 2024
https://www.prnewswire.com/news-releases/global-mobile-payments-market-to-reach-3-6-trillion-by-2024--300883957.html
PALM BEACH, Florida, July 12, 2019 /PRNewswire/ -- The sheer rise in the number of mobile phone users worldwide bodes well for the mobile payments industry. With mobile phones in more and more hands, new users are looking for more ways to use the phones and these 'green pastures' are ripe for the industry continually growing in size of revenues. Mobile payment apps make the user's phones even more useful for shopping, bill paying, transferring money, travel, dining the list goes on and on. A recent mobile payments research report said that: The mobile payments market was valued at USD $897.68 Billion in 2018 and is expected to reach a value of USD $3,695.46 Billion by 2024, at a CAGR of 26.93% over the forecast period of 2019-2024. The stores and services across the world are rapidly adopting and integrating mobile payment applications. Owing to changing lifestyle, daily commerce, and rapid growth in online retailing, this trend is expected to continue over for subsequent many years. With the rapidly increasing global economy, mobile phones (especially smartphones) have become an essential commodity for an individual. Similarly, the internet has also become part and parcel of life for many people. This has increased the penetration of smartphones and internet users all over the world driving the growth of the mobile payment market. Mentioned in today's commentary includes: FingerMotion, Inc. (OTCQB: FNGR), Alibaba (NYSE: BABA), JD.com (NASDAQ: JD), PinDuoDuo (NASDAQ: PDD), Baidu, Inc. (NASDAQ: BIDU).
An earlier report had previously said: "The smartphones penetration rate in countries such as Canada, China, and India have been significantly high over the past few years. With evolving technology, smartphones are now available at reasonable prices, being affordable for customers. Moreover, the extensive growing distribution network of smartphones companies has made these devices easily available for end users. A boom in mobile commerce has been witnessed over the past few years, owing to growth in penetration of smartphones coupled with fast connectivity. Consumers are gradually opting for mobile purchase for a number of goods and services such as apparel & accessories, groceries, health & beauty, computer & electronics, and books, owing to ease of ordering and receiving it at one's doorstep. In addition, special offers and discount coupons offered by various vendors available on the m-commerce platforms attract customer towards mobile purchase."
FingerMotion, Inc. (OTCQB: FNGR) BREAKING NEWS: FingerMotion, a U.S. fintech company with mobile payment and recharge platform operations in China, is pleased to announce that is has expanded the breadth of its services with a definitive Portal Sales and Cooperation Agreement with China Unicom's Yunnan subsidiary, a leading mobile carrier in China. Under the terms of the renewable 3-year agreement, China Unicom's Yunnan subsidiary has migrated the management and developmental control of the portal to FingerMotion's subsidiary, JiuGe Information Technology (JiuGe). The existing platform currently handles cellular top up, phone sales, and accessory sales such as sim cards, cases, and prepaid phone cards.
The agreement will also allow for the inclusion of installment plans for the purchase of a new phone or prepaid phone plans. In addition, there will be a rollout of a broadband initiative for consumers and businesses. The Company believes that this agreement will significantly increase revenues and gross margins going forward.
The agreement calls for FingerMotion to share with China Unicom a percentage of the revenues generated from sales on the portal. JiuGe will be responsible for collecting the revenue generated off the platform and paying the costs to maintain the customer service center. This online sales agreement will funnel all of China Unicom's online sales through this portal. JiuGe will retain a higher percentage of revenue on the cellular 'top-up' sales to compensate FingerMotion for the higher level of management and oversight, while China Unicom's Yunnan subsidiary will retain a higher percentage of gross profit on the hardware and financial insurance products. The handoff of control of the portal has already begun, and the final rollout of the entire line-up of products and services will be accomplished in stages over the coming months.
JiuGe will be licensed to operate and manage China Unicom's Yunnan Subsidiary's existing online flagship stores in three major e-Commerce platforms in China, namely Tmall (operated by Alibaba (NYSE: BABA), JD.com (NASDAQ: JD) and PinDuoDuo (NASDAQ: PDD). According to a June 2018 article by Forbes titled "For Brands, Alibaba is The Gateway to China and Chinese Customers". Forbes stated that Alibaba has 617 million monthly mobile users and 552 million active users on its China retail marketplaces (Tmall and Taobao). In comparison, according to Tech in Asia, JD.com has 292 million customers. To read this entire release and more info on FNGR, please visit: http://www.financialnewsmedia.com/news-fngr/
In additional recent news from around the industry:
Baidu, Inc. (NASDAQ: BIDU) recently announced it will deepen AI integration into its mobile ecosystem for a more dynamic, connected and seamless user experience at the Baidu Create 2019 AI Developer Conference.
At the Baidu Create plenary session, Dou Shen, Senior Vice President and General Manager of Baidu's Mobile Ecosystem Group, delivered a keynote speech and shared his insights on what upgrades AI technology has made to user experience for mobile ecosystem products, such as Baidu App. He also shared an update on new developments in the Baidu App Smart Mini Program to build "New Connection" for users and developers. Shen said the application of AI technologies on Baidu App has accelerated the maturity of products based on speech and image recognition, bringing more surprise in terms of user experience. The development of Smart Mini Program enables Baidu App to enhance user experience by providing not only information, but also other products and services. "With the evolving Baidu App as the core, Baidu is creating a 'New Mobile, New Connection, and New Ecosystem'," he said.
After years of development, Baidu's AI technology has been successfully applied across many verticals. Baidu's core product, Baidu App, is empowered by cutting-edge AI technology that helps it to understand user needs by connecting people and information efficiently and driving app growth. The number of Baidu App daily active users has reached 188 million, making it one of the largest digital media and service platforms in China. At the same time, the entire Baidu mobile ecosystem is growing, and the number of monthly active devices running Baidu mobile apps has reached 1.1 billion.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated twenty-nine hundred dollars for news coverage of the current press release issued by FingerMotion, Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:
Media Contact
Email: editor@financialnewsmedia.com
+1(561)325-8757
SOURCE FinancialNewsMedia.com
It is obvious that no one knows what the PR today really means.
Finger Motion will be huge.
$9 Dollar Hollar!