FingerMotion Inc. (NASDAQ: FNGR) Marks a 21% Year-Over-Year Growth in Revenue for Q3 2022; Anticipates Significant Growth in the Next Fiscal year

 

• FingerMotion attributed its strong finish for Q3 2022 to strategic investments and collaborations with key players in the industry
• It hopes to carry on this performance trend into the next fiscal year, tapping into the investments and collaborations made so far 
• The company also plans to capitalize on the insurtech sector while also forming new brands designed to offer mobile device protection for the Chinese market

FingerMotion (NASDAQ: FNGR), recently released its financial results for the third quarter of the 2022 financial year (“Q3 2021”), posting a 21% growth in revenue from the same period in 2020. Martin Shen, the Chief Executive officer (“CEO”) of the company, termed this a “strong finish” while also expressing his optimism for even better performance in the next fiscal year (https://nnw.fm/rALlr). 

This growth for Q3 2022 was attributed to the company’s strategic investments and collaborations with key players in the industry, most notably China Mobile in the Fujian province. 

“The third quarter finished strong with $5.9 million in revenue and an acceleration of our top-up business,” Mr. Shen noted. “During the quarter, we were aggressive in rolling out our collaboration with China Mobile in Fujian province,” he added.

Gross profit for Q3 2022 stood at $967,075, representing a 56% year-over-year growth from the same period the previous year. In addition, its Telecommunications Products and Services business posted total revenue of $2.8 million, a 580% year-over-year quarterly growth from the same period in 2020.

FingerMotion closed the 2021 calendar year with significant investment into its insurtech sector. Its services agreement with Pacific Life Re, through its big data analytic division, Sapientus, coupled with its collaboration with Xuanlian Tianxia Technology and Happy Life Insurance, make it a formidable force in the Insurtech space. Mr. Shen is confident that in the new year, revenue should ramp up as the insurtech business starts to unfold, all while tapping into the big data in the insurance market that is projected to be valued at $12 billion by 2023 (https://nnw.fm/qhcss).

The company has also formed new brands designed to offer mobile device protection in China, with Beta testing already underway. Mr. Shen is optimistic that this investment will represent a significant revenue stream in the next fiscal year, even as it works on other aspects of its operations, including creating new insurance products.

“Our teams are uniquely qualified to create new insurance products that push the envelope of what is possible. Our goal is to enable the creation and distribution of insurance solutions that match consumer profiles, offer more flexibility and ultimately cost savings to the consumer while at the same time creating underwriting efficiencies that will eventually drop down to the bottom line, making our collaboration particularly rewarding in the long run,” noted Mr. Shen.

In January 2022, FingerMotion became the latest technology company listed on the Nasdaq Capital Market in a move that offered it great exposure within the investment community. Mr. Shen believes that this, coupled with the investments made over the 2021 calendar year, will continue to strengthen the company’s balance sheet and profitability, carrying on the trend posted in Q3 2022.

For more information, visit the company’s website at www.FingerMotion.com.

NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://nnw.fm/FNGR

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Decentralized Status of Lightning Network Discussed at Keyfest 2022; LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Achieves Significant Growth Since 2021 Acquisition

 

• Keyfest 2022 prompted the question as to whether the Lightning Network is decentralized – the very essence of the layer 2 protocol overlay of the blockchain
• Unlike fiat currency, which is ultimately governed by The Federal Reserve, Bitcoin’s Lightning Network is comprised of nodes and channels with no direct governing body
• The success of the Lightning Network since January 2021 is driving LQwD’s drive for the new year

In a 2015 white paper draft, Joseph Poon and Thaddeus Dryja laid out the Lightning Network for the first time. Two years later, in 2017, the first transaction was made on the layer 2 payment protocol layered on top of a block-based cryptocurrency. Since then, and especially in the past year, the Lightning Network has grown considerably, making transactions among nodes faster and with lower fees. 

The Lightning Network was among the topics of discussion at Keyfest 2022, organized on January 5-7 by Casa, a Bitcoin custody provider and personalized key manager. At its second edition this year, Keyfest is a virtual festival celebrating the past, present, and future of personal keys. Here, the brightest minds in Bitcoin come together for three days of conversation and workshops discussing a future where everyone owns their wealth, identity, and data.

The blockchain itself was created as a decentralized infrastructure, one free of control from the government and other central authorities. The fiat currency system in the United States begins with one central node – The Federal Reserve. The Federal Reserve has the power over the entire process, but it trickles down into supporting nodes and channels – 12 total central banks and 24 supportive branches. The Lightning Network, however, allows anyone to open a channel without any permission required.

The prompt for the question was the number of nodes and channels popping up on the Lightning Network. There is a difference in the security of banks and Bitcoin – with Bitcoin requiring public and private keys, making it more secure than the fiat currency bank’s single symmetrical key requirement, it was underlined during the event.

LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a fintech company focused on the creation of enterprise-grade infrastructure to drive bitcoin adoption, has developed lqwd.tech, the company’s proprietary platform as a service (“PaaS”) that allows users to execute transactions on the Lightning Network instantly, securely, and with fewer fees.

Since the June 2021 acquisition, LQwD has cumulatively acquired over C$9,000,000 (US$7.19 million) worth of Bitcoin as both a reserve and operating asset for the company, some of which is already being used on the Lightning Network. The company’s holdings is around 150 Bitcoin at this time. LQwD has also entered into two strategic service agreements, one with the leading Canadian crypto trading platform Netcoins, Inc., a subsidiary of BIGG Digital Assets Inc., and the other with Breez Development Ltd., an Israeli-based Lightning Network wallet provider.

“I wanted to take a moment to recap what has been an active six months for LQwD since listing in June,” LQwD CEO Shone Anstey said (https://nnw.fm/XFnSV). “The remarkable growth of the Lightning Network has validated LQwD’s reason to be hyper-focused on Lightning, and I look forward to continuing to expand our business on this rapidly growing global payment network.”

The remarkable growth that Anstey speaks of refers to the multiple milestones reached by the Lightning Network since January 2021, including:

• Node growth of 105% from 770 to 15,000 established nodes
• A Bitcoin capacity increase of 160% (from 1,125 BTC to almost 3,000 BTC)
• Payment channels reached up to 92% established, from 38,000 to 73,000 payment channels

LQwD is now hyper-focused in 2022 on continuing its expansion and on the rapidly growing global payment network. The company expects cryptocurrency’s popularity to continue growing and the Lightning Network to become a force for change worldwide and the global monetary exchange of the future. 

For more information, visit the company’s website at www.LQwDFinTech.com.

NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://nnw.fm/LQWDF

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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FuelPositive Corp. (TSX.V: NHHH) (OTCQB: NHHHF) Nears Portable Ammonia-generating Prototype Rollout Amid Growing Demand for Green Tech Solutions

 

• Canadian-based clean energy solutions innovator FuelPositive Corp. is developing a means of producing and using ammonia as a non-carbon polluting fuel source
• FuelPositive regards the green ammonia produced by its unique system as a safer and more effective means of transporting hydrogen that can be used to provide power and other benefits in an environmentally positive manner
• The agricultural and shipping industries are preferred targets for conversion because of their heavy carbon fuel use, and some companies are already preparing to transition away from fossil fuels as viable alternatives become available
• The portability of FuelPositive’s solution also makes it an ideal means of providing energy to underserved, remote parts of the planet

As clean energy solutions innovator FuelPositive (TSX.V: NHHH) (OTCQB: NHHHF) nears launch of its initial proprietary modular system for producing green ammonia, the competition to advance green ammonia technology as a potential alternative to existing greenhouse gas-emitting fuel sources is heating up. 

A Yale School of the Environment report this month (https://nnw.fm/bnksx) noted that experimental green ammonia-producing plants powered by large wind or solar farms have been operating in Britain and Japan since 2018, another is planned in the United States by 2023, an Australia plant is aiming to produce 3,500 tons of green ammonia annually by the end of this year, and a Saudi Arabia plant aims to generate 1.2 million tons of it by 2025. In addition, there is the ‘world’s largest green ammonia plant’ planned for South Africa, set to go live in 2025 (https://nnw.fm/tpUT7).

“This is a very dynamic field; there’s news out every day,” Melbourne, Australia’s Monash University chemist Douglas Macfarlane stated in the report. Macfarlane, like FuelPositive’s core team, has been working to develop new and much more efficient ways of making green ammonia. 

FuelPositive’s prototype systems will be fully portable when they roll out later this year with targeted capacity of producing up to 300 kilograms per day of liquid anhydrous green ammonia, which is the approximate amount needed to fertilize and power an 1,800-acre farm. But the output can be increased (or decreased) based on the end user requirements, according to the company, because of the system’s modular and scalable design (https://nnw.fm/ztpPd).

One end target is to store hydrogen as green ammonia for effective transportation and storage, with the option of easy conversion back to hydrogen for use in hydrogen fuel cells and other pure hydrogen applications. (FuelPositive’s green ammonia stores 65% more hydrogen than highly compressed pure hydrogen, per unit of storage) Hydrogen is widely regarded as the optimal alternative fuel for weaning industries and consumers off polluting carbon-energy sources that continue to threaten global quality of life amid ongoing climate change. The combustion of 100% green ammonia is also the focus of many studies around the world. 

The agriculture industry uses about 80 percent of the ammonia produced each year applying carbon-intensive methods for nitrogen-rich fertilizer that improves plant nutrition and crop quality, and ultimately preserves soil fertility, when used properly. (https://nnw.fm/UyNok). Switching to green ammonia could be transformative for the industry, driving down farming’s carbon footprint by as much as 90 percent for corn and small grain crops, according to the Yale school report. 

The transition could benefit other industries as well, the consumer product transport industry in particular. A report last year by the International Energy Agency predicted that ammonia will be vital for the shipping industry, which is currently responsible for 3 percent of global emissions (https://nnw.fm/Fuwka). 

Shipping carrier Hoegh Autoliners announced Jan. 20 that it has ordered up to 12 LNG-fueled pure car and truck Aurora-class ships that will be suitable to retrofit to ammonia or methanol propulsion in keeping with its plans to make them the first in the carrier segment to run on green ammonia (https://nnw.fm/g2mFt), signaling the industry’s serious intention to explore more environmentally friendly activity. 

FuelPositive’s modular, scalable platform is also being touted as a solution for providing energy to remote communities thanks to the technology’s portability and efficiency. 

“Our (Hydrogen-Ammonia Synthesizer) systems are small, they’re about the size of a shipping container that you would see on an ocean-going ship, and we can move them all over the place. So they can be used exactly where the ammonia is needed, so we don’t have to transport ammonia all over the place,” CEO Ian Clifford told a group of young investment advisers last fall (https://nnw.fm/8dIUI). “We think our company will grow a lot in value over the next six to 12 months as our systems are delivered to end users — the people who need the ammonia.”

For more information, visit the company’s website at www.FuelPositive.com.

NOTE TO INVESTORS: The latest news and updates relating to NHHHF are available in the company’s newsroom at https://nnw.fm/NHHHF

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Cybin Inc. (NEO: CYBN) (NYSE American: CYBN) IRB-Approved Study Could ‘Lead to New Frontiers,’ Begins Enrollment This Year

 

• Upcoming study supports CYBN’s mission to develop psychedelics into therapeutics.
• Kernel Flow uses pulsed light instead of continuous wave light to increase measured brain information. 
• Study may provide crucial “mind-imaging” information that has been previously missing.

Cybin (NEO: CYBN) (NYSE American: CYBN) is starting off the new year right — the company has received approval from an Institutional Review Board (“IRB”) for a feasibility study using Kernel’s quantitative neuroimaging technology, Kernel Flow. Enrollment for the study begins early this year (https://nnw.fm/EtSeT). 

“By leveraging the Kernel Flow technology, we may have the ability to measure longitudinal brain activity before, during and after a psychedelic experience, and collect quantitative data as opposed to subjective patient reporting,” said Cybin CEO Doug Drysdale. “We believe the results of this study will lead to future studies that will test the effectiveness of psychedelic treatments and will further support our mission to develop psychedelics into therapeutics.”

The feasibility study is designed to utilize Kernel’s Flow technology to evaluate ketamine’s psychedelic effect on cerebral cortex hemodynamics (https://nnw.fm/4l94A). This study could provide crucial information that “may lead to new frontiers in psychedelic therapeutics by enabling the acquisition of longitudinal brain activity before, during and after a psychedelic experience, providing quantification of what was previously subjective patient reporting,” the company noted.

“The word psychedelic means ‘mind-manifesting,’ but what has been missing is useful ‘mind-imaging’—the ability to dynamically trace the neural correlates of human conscious experience,” explained Cybin’s chief clinical officer, Dr. Alex Belser. “Conventional neuroimaging just isn’t dynamic enough to study the psychedelic experience in the brain as it happens. This study of ketamine’s psychedelic effects while wearing headgear equipped with sensors to record brain activity could open up new frontiers of understanding.”

Kernel’s exclusive tech, called Kernel Flow, uses pulsed light instead of continuous wave light to increase measured brain information. The device used to measure the information is easily wearable, which is a significant difference from electroencephalography (“EEG”) electrodes that typically require gel on the head or functional magnetic resonance imaging (“fMRI”) studies that require a participant to lie in a scanner. The entire system is the size and look of a bicycle helmet and could, in the future, be more broadly used for neuroscientific or physiological studies of brain activity during psychedelic use, noted Cybin.

“Quantitatively measuring the brain within the context of a psychedelic experience is a promising frontier,” said Kernel founder and CEO Bryan Johnson. “With Kernel Flow, Cybin’s researchers can start putting numbers and quantification to subjective states of mind, including altered ones.”

As a sponsor of the study, Cybin retains an exclusive interest in any innovations that are discovered or developed through its independent analysis of the study findings. Kernel will hold the same rights relating to its Kernel technology.

“We hope this feasibility study can bridge the gap of real-time quantitative data collection during psychedelic treatments to further understand the correlation of effects from these powerful molecules,” said Drysdale. “The ability to access real-time brain activity data during a psychedelic experience has tremendous potential for the development of future psychedelic therapeutics.”

Cybin is a leading ethical biopharmaceutical company, working with a network of world-class partners and internationally recognized scientists, on a mission to create safe and effective therapeutics for patients to address a multitude of mental health issues. Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom and Ireland. The company is focused on progressing Psychedelics to Therapeutics(TM) by engineering proprietary drug-discovery platforms, innovative drug-delivery systems, novel formulation approaches and treatment regimens for mental health disorders.

For more information, visit the company’s website at www.Cybin.com.

NOTE TO INVESTORS: The latest news and updates relating to CYBN are available in the company’s newsroom at https://nnw.fm/CYBN

About NetworkNewsWire

NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 40+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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Lexaria Bioscience Corp. (NASDAQ: LEXX) CEO Offers a Glimpse into Company’s Unique Technology and Operations on EDGE Podcast

 

• Chris Bunka, the Chairman and CEO of Lexaria, featured on the EDGE podcast hosted by Brandon C. White
• He provided insight into his background, professional philosophies, and Lexaria’s operations, with a focus on the company’s patented DehydraTECH(TM) technology
• Mr. Bunka also advised small companies and entrepreneurs, citing the importance of understanding the competitive environment

Chris Bunka, the Chairman and Chief Executive Officer (“CEO”) of Lexaria Bioscience (NASDAQ: LEXX), was recently featured on episode 234 of the EDGE Podcast. Hosted by Brandon C. White, an Angel Investor and Entrepreneur, Mr. Bunka shared insights into his professional journey while also sharing what the company is committed to achieving going forward. 

Mr. Bunka lauded the company’s patented DehydraTECH(TM) technology, citing how integral it is to improve the delivery of active pharmaceutical ingredients and other fat-soluble molecules.  So far, this technology has proven promising for the potential treatment of hypertension and heart disease, and is already being sublicensed for the delivery of CBD.

“Our technology is all about enabling a much higher fraction and a much smoother delivery of the beneficial substances in the foods you eat and in the drugs you take and, quite frankly, getting them into your bloodstream,” he noted (https://nnw.fm/Xkc7J). 

He also walked the audience through his career growth that spans over four decades, having started his first business at the age of 17. Over the years, he notes, he has learned how to run a business, rely on other people, and manage employees, skills that have translated to the success of Lexaria thus far.

When asked about his most significant career lessons, Mr. Bunka reckoned that while he has learned a lot, the central aspect is the significance of understanding the competitive environment. He further advised small companies and entrepreneurs first to understand their competitive environment and then understand the products and services they offer to customers.

“A lot of small companies don’t do a good job of understanding their competitive environment,” he noted. “A lot of them say, ‘I’m the best, I’m the fastest.’…I could be on my laptop and have somebody pitching me on an idea, and I see 3,700 companies just like his. It makes it really hard, so understanding your competitive environment is really, really important, as well as understanding your products and services,” he added.

The interview with Mr. Bunka offered a glimpse into the inner workings of Lexaria, the vision that he has for the company, and the goals that it is working towards. In addition, he talked about the company’s ongoing efforts to make the most out of its innovative delivery platform, along with professional philosophies that have guided his career so far.

You can listen to the entire interview here https://nnw.fm/y2hE6

For more information, visit the company’s website at www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://nnw.fm/LEXX

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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