FRMO Corp. Announces Second Quarter Results and Conference Call

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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 $180.1 million ($4.09 per share on a fully diluted basis), including $51.6 million of non-controlling interests. This compares with book value at the prior fiscal year ended May 31, 2020 of $161.9 million ($3.68 per share), including $46.9 million of non-controlling interests. Current assets, comprised primarily of cash and equivalents and equity securities, amounted to $111.9 million as of November 30, 2020, and $104.8 million as of May 31, 2020. Total liabilities were $15.0 million as of November 30, 2020, and $11.8 million as of May 31, 2020, comprised primarily of securities sold, not yet purchased and deferred taxes.

FRMO’s net income (loss) attributable to the Company for the three months ended November 30, 2020 was $11,671,366, or $0.27 per share, compared to $(481,719), or $(0.01) per share for the three months ended November 30, 2019.

FRMO’s net income (loss) attributable to the Company for the six months ended November 30, 2020 was $11,853,607, or $0.27 per share, compared to $(700,580), or $(0.02) per share for the six months ended November 30, 2019.

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 $7,795,670 ($0.18 per diluted share) compared to $(190,203) ($0.00 per diluted share) for the three months ended November 30, 2019.

For the six months ended November 30, 2020, the figure was $10,025,116 (0.23 per diluted share) compared to $(236,087) ((0.01) per share) in 2019.

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 21.15% and 19.23% equity interest in Horizon Kinetics Hard Assets LLC (“HKHA”), a company formed by Horizon Kinetics LLC and certain officers, principal stockholders and directors of FRMO Corp. (“the Company”). Due to the common control and ownership between HKHA and the Company’s principal stockholders and directors, HKHA has been consolidated within the Company’s financial statements. The noncontrolling interest of 78.85% and 80.77% in HKHA has been eliminated from results of operations for the periods ended November 30, 2020 and May 31, 2020.

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 OTC:FRMO View FRMO Stock Overview → FRMO Rankings N/A Ranked by Market Cap N/A Ranked by Dividends FRMO Latest News Jul 10, 2026 FRMO Announces Change in Fiscal Year End Apr 14, 2026 FRMO Corp. Announces Fiscal 2026 Third Quarter Results and Conference Call Apr 8, 2026 FRMO Announces Passing of CEO Murray Stahl Feb 26, 2026 FRMO Corp. Announces Fiscal 2026 Second Quarter Results and Conference Call Feb 26, 2026 FRMO Corp. Completes Restatement of Previously Issued Financial Statements FRMO Stock Data Market Cap 312.56M Float 44.02M Industry Asset Management Sector Financial Services Website Link Country United States City White Plains Related Articles Continue reading with these related stories $ONMD Top Gainer OneMedNet Secures $11.5+ Million Agreement to Supply Regulatory-Grade Real-World Data for Foundational AI Model Development Jul 28, 2026 +48.54% AI $ENLV Top Loser Enlivex Announces $400,000,000 Private Placement Jul 28, 2026 -47.87% private placement $UBS Related UBS reports 2Q26 net profit of USD 2.8bn and USD 5.8bn for 1H26 with robust momentum across businesses; Group invested assets at USD 7.3trn (Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules) Jul 29, 2026 $AON Related Q3 2026 Insurance Labor Market Study Results to be Highlighted in Webinar Jul 28, 2026 $CCNB Related Coastal Carolina Bancshares, Inc. Announces Second Quarter Results Jul 28, 2026 earnings $PBT Related PERMIAN BASIN ROYALTY TRUST ANNOUNCES NOTICE OF COMBINATION AGREEMENT BETWEEN SOFTVEST AND BLACKBEARD WITH RESPECT TO THE TRUST Jul 28, 2026 $URAIF Related INTURAI FAST TRACKS DOMECOMMAND COMMERCIALISATION WITH EUROPEAN DEFENCE TECH HUB AND SINGAPORE AIR FORCE Jul 29, 2026 $QMLS Trending QumulusAI Set to Ring the Nasdaq Opening Bell Jul 28, 2026 $LOGI Related Play for the Breakthrough: Logitech G PLAY 2026 Comes to Los Angeles, Warsaw, and Shanghai Jul 29, 2026 $GELEF Related Graphano Energy Appoints Andrew Gainsbury as CFO and Director, Announces Passing of Director Jay Richardson, and Provides Update on Proposed Earn-In Transaction Jul 29, 2026 View All Latest News Explore About Contact Editorial Policy FAQ Rhea-AI Sitemap Legal Terms of Use Cookie Notice Privacy Policy Market Data Articles Top Gainers Market Cap Momentum Scanner Stock Themes Live News Financial Tools Stock Market Hours Links RSS feed Facebook Reddit Add to Google An independent AI‑powered platform for real‑time stock market news, press releases, SEC filings, earnings, and tools for trading and investing. © 2020-2026 StockTitan.net - Your Edge is Information Information only. Not investment advice.