secwatch.observer — SEC 8-K summary
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Issuer:     FingerMotion, Inc. (FNGR)
CIK:        0001602409
Form:       8-K
Filed at:   2022-11-22T23:59:59+00:00
Accession:  0001520138-22-000532
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.04, 3.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

FingerMotion triggers default on $4.8M note, raises $15.55M in private placements; offers 110% payout
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- Default triggered under $4.8M convertible note with Lind Global after private placement of 2.89M shares at $4.00 for $11.55M gross proceeds.
- Mandatory Default Amount is 110% of principal ($5.28M); company offered to pay but investor has not declared it due.
- Section 5.7 requires 25% of equity proceeds over $10M to repay note; company awaits investor waiver decision.
- Company issued additional 1M shares at $4.00 for $4M gross proceeds in a separate private placement on November 21.
- Issued 10,000 warrants to Benchmark at $6.70, expiring Nov 2025; investigating stock price manipulation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1602409/000152013822000532/0001520138-22-000532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1602409/000152013822000532/fngr-20221121_8k.htm
  HTML page:      https://secwatch.observer/filing/0001520138-22-000532

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer