FingerMotion Seeks 1-for-10 to 1-for-100 Reverse Split Authority to Cure Nasdaq Bid-Price Deficiency

summarizeSummary

FingerMotion's preliminary proxy asks shareholders to authorize a reverse split of 1-for-10 up to 1-for-100 over 24 months, aimed at curing a Nasdaq minimum bid price deficiency ahead of a December 4, 2026 special meeting.

check_boxKey Events · Corporate Governance and Compliance · FNGR

• Reverse Split Authority Requested

  Board seeks authority for one or more reverse splits over a 24-month period at a cumulative ratio of no less than 1-for-10 and up to 1-for-100, with the exact ratio and timing at the board's sole discretion.

• Nasdaq Bid-Price Deficiency

  The company received a Nasdaq notice that its closing bid price fell below $1.00 for 30 consecutive business days, breaching Rule 5550(a)(2); the notice has no immediate effect on listing but delisting follows if the deficiency is not cured.

• Authorized Share Pool Grows

  The reverse split will not reduce authorized shares, so the number of authorized but unissued shares increases — capacity the board could use for future financings or equity awards.

• December 4 Special Meeting

  Shareholders of record on November 4, 2026 vote at the special meeting on December 4, 2026; approval requires a majority of the voting power present in person or by proxy, and the board unanimously recommends a vote for.

auto_awesomeAnalysis · FNGR · Technology

FingerMotion is asking shareholders at a December 4, 2026 special meeting to hand the board a 24-month option to reverse-split anywhere from 1-for-10 up to 1-for-100. The stated purpose is to lift the share price back above Nasdaq's $1.00 minimum bid after the company received a deficiency notice. With the stock at $0.1105, a 1-for-10 split alone would only get it to roughly $1.11, so the wide ratio range is the board keeping room to go much further. The split itself does not change anyone's ownership percentage, but because authorized shares are not reduced, it mechanically creates a large pool of authorized-but-unissued stock that the board can use for financings — relevant given the toxic convertible notes, the 97% revenue collapse and the going-concern doubt previously disclosed. Failure to regain compliance risks delisting, which would further hurt liquidity in an already thinly traded name.