FRMO Corp. Announces Second Quarter Results and Conference Call
FRMO Corp. (the “Company” or “FRMO”) (OTC Pink: FRMO) today reported its financial results for the 2021 second quarter, ended November 30, 2020 (May fiscal year).
Financial Highlights
FRMO’s book value as of November 30, 2020 was
FRMO’s net income (loss) attributable to the Company for the three months ended November 30, 2020 was
FRMO’s net income (loss) attributable to the Company for the six months ended November 30, 2020 was
FRMO’s net income (loss) attributable to the Company excluding the effect of unrealized gain (loss) from equity securities net of taxes for the three months ended November 30, 2020 was
For the six months ended November 30, 2020, the figure was
Net income (loss) attributable to the Company excluding the effect of unrealized gains (losses) from equity securities net of taxes is a measure not based on GAAP and is defined and reconciled to the most directly comparable GAAP measures in “Information Regarding Non-GAAP Measures” at the end of this release.
Valuation of securities and cryptocurrencies are subject to change after November 30, 2020. The market value of several securities and cryptocurrencies might have changed substantially since that date. We look forward to finding new ways to expand our cryptocurrency mining operations.
As of November 30, 2020 and May 31, 2020, the Company held a
Further details are available in the Company’s Condensed Consolidated Financial Statements for the quarter ended November 30, 2020. These statements have been filed on the OTC Markets Group Disclosure and News Services, which may be accessed at www.otcmarkets.com/stock/FRMO/filings. These documents are also available on the FRMO website at www.frmocorp.com.
Conference Call
Murray Stahl, Chairman and CEO, and Steven Bregman, President and CFO, will host a conference call on Thursday, January 21, 2021 at 4:15 p.m. ET. Only questions submitted to info@frmocorp.com before 1:00 p.m. on the day of the call will be considered. The call can be accessed by dialing 800-367-2403- (domestic toll free), or +1 334-777-6978 (international toll) and entering the following conference ID: 6361035. A replay will be available from 7:15 p.m. on the day of the teleconference until February 20, 2021. To listen to the archived call, dial 888-203-1112 (domestic toll free) or +1 719-457-0820 (international toll), and enter conference ID number 6361035.
Condensed Consolidated Balance Sheets | ||||||
(in thousands) | ||||||
November 30, |
|
May 31, |
||||
2020 |
|
2020 |
||||
(Unaudited) |
||||||
Assets | ||||||
Current Assets: | ||||||
Cash and cash equivalents |
FRMO CORP
OTC:FRMOFRMO RankingsFRMO Latest NewsFRMO Stock DataAbout FRMOfrmo corporation, through its 4.95% interest in horizon kinetics, llc, operates as an investment advisory and independent research company. it provides in-depth analysis of information-poor, under-researched companies, and strategies to identify the complex situations primarily to institutional investors. the company was incorporated in 1993 and is based in white plains, new york.
|