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Finger Motion FingerMotion Reports Q2 2022 Financial Results NEW YORK , NY / ACCESSWIRE / October 14 , 2021 / FingerMotion , Inc. ( OTCQX : FNGR ) ( the “ Company ” or “ FingerMotion ” ) , a mobile services and data company , is pleased to report its financial results for the second quarter ended August 31 , 2021. To review the full financial results , please view the Company's recent 10 - Q filing at www.sec.gov/edgar/search , which should be read in connection with this news release . Q2 2022 Financial Summary ( results expressed in US $ unless otherwise indicated ) : • Reported quarterly revenue of $ 5.39 million ( includes SMS & MMS , Telecommunications Products & Services businesses , and Big Data ) ; • Reported quarterly growth in SMS & MMS business revenue of $ 0.73 million or 25 % compared to Q2 2021 ; • Reported quarterly growth in Telecommunications Products & Services business revenue of $ 1.0 million or 142 % compared to Q2 2021 ; • Reported revenues of $ 32,702 in Big Data ; • Reported quarterly cost of revenue of $ 4.69 million which was an increase of $ 1.33 million or 39 % compared to Q2 2021 ; • Reported quarterly net loss of $ 1,454,617 which was an increase of $ 0.49 million or 51 % compared to Q2 2021 ; • Basic and Diluted loss per share of $ 0.04 ; • At August 31 , 2021 , FingerMotion had $ 878,085 in cash , a working capital surplus of $ 5,037,533 , and a positive shareholders ' equity of $ 5,228,987 ; • Total Assets were $ 9.38 million , Total Current Liabilities were $ 4.15 million and Total Liabilities were $ 4.15 million ; and • 42,201,260 common shares were issued and outstanding as of August 31 , 2021 . Strong growth continued in both the Telecommunications Products & Services ( mobile recharge platform ) and the SMS & MMS texting service . " The second quarter generated solid revenue of $ 5.39 million and saw continued growth in year over year revenues , " stated Martin Shen , CEO of FingerMotion . " Growth continues unabated with the SMS texting due to our optimized prepayments of bulk inventory purchases . Contributing to the growth and margin expansion was from the subscription plan and the mobile phone sales . These optimized purchase programs and hardware sales and service improved gross profit from 7 % to 13 % . The Company is seeing strong demand in SMS from our corporate clientele . This is the third consecutive quarter of Big Data revenues and we expect it to continue and eventually outpace our existing revenue streams . " General and administrative expenses increased by $ 601,937 or 71 % during the quarter which was primarily attributable to increased consulting and staff salaries that are a consequence of building out our 3 lines of business simultaneously . Research and development expenses increase to $ 144,549 during the quarter which was up 17 % due to high data access and usage fees charged by the telecom companies .