Frmo Stock Price, News & Analysis

FRMO Corp. reported strong financial results for Q1 2023 ending August 31, 2022. The company's total book value rose to $345.9 million ($7.86 per share), up from $314.3 million the previous fiscal year. Net income attributable to FRMO increased significantly to $7.5 million ($0.17 per share) compared to $961,000 ($0.02 per share) last year. Current assets improved to $255.4 million from $223.8 million, while total liabilities grew slightly to $25.3 million. The company noted a solid position in cryptocurrency and equity markets, with plans for expansion.

FRMO Corp. reported its financial results for the fiscal year ending May 31, 2022, with a book value of $314.3 million ($7.14 per share), up from $298.9 million ($6.78 per share) in the previous year. Current assets rose to $223.8 million, while total liabilities decreased to $23.9 million. The company posted a net income of $2.95 million ($0.07 per share), significantly down from $60.16 million ($1.37 per share) the prior year. For Q4, net income was $14.34 million ($0.33 per share), compared to $13.97 million ($0.32 per share) in 2021. The Annual Meeting is scheduled for September 8, 2022.

FRMO Corp. reported a net loss of $(12.0 million) or $(0.27) per share for Q3 2022, down from a net income of $34.3 million or $0.78 per share in Q3 2021. The book value decreased to $268.8 million ($6.11 per share) compared to $298.9 million ($6.79 per share) a year earlier. Current assets declined to $182.5 million, down from $208.9 million. Total liabilities fell to $24.2 million. Excluding unrealized losses from equity securities, the net loss was $(9.9 million) for the quarter, significantly lower than the prior year's gain.

FRMO Corp. reported its financial results for the second quarter of 2022, ending November 30, 2021. The company posted a net loss attributable to FRMO of $350,323 ($0.01 per share), contrasting sharply with a net income of $11.67 million ($0.27 per share) for the same period last year. Book value decreased to $281.7 million from $298.9 million, with total current assets falling to $186.6 million. Unrealized losses from equity securities reached $15.1 million this quarter. The company highlighted plans to expand its cryptocurrency mining operations.

FRMO Corp. (OTC Pink: FRMO) announced its financial results for Q1 2022 ending August 31, 2021. The company reported a net income of $960,717 ($0.02 per share), a significant increase from $182,241 ($0.00 per share) year-over-year. Book value dropped to $293.5 million ($6.67 per share) from $298.9 million ($6.79 per share) in May 2021. Current assets decreased to $202.1 million, while liabilities remained stable at $29.6 million. The company holds a 21.98% stake in Horizon Kinetics Hard Assets LLC and aims to expand its cryptocurrency mining operations.

FRMO Corp. has announced the expansion of its Board of Directors with the appointment of Alice C. Brennan, Herbert M. Chain, and Dov Glickman. This increase brings the total number of directors to nine, with six being independent. Chairman Murray Stahl highlighted the new members' expertise, suggesting that their contributions will enhance the company's strategic investments, which are nearing critical mass. Each new board member brings substantial experience in areas such as risk management, accounting, and investment, which could positively impact FRMO's operational strategies.

FRMO Corp. reported fiscal year 2021 results, ending May 31, revealing a significant increase in book value to $298.9 million ($6.78 per share), up from $161.9 million ($3.68 per share) in FY 2020. The company's net income rose dramatically to $60.16 million ($1.37 per share), compared to a loss of $14.56 million a year prior. Current assets also improved to $208.9 million. The company continues to hold a 22.02% stake in Horizon Kinetics Hard Assets LLC. The annual meeting will take place on September 9, 2021, with online access for shareholders.

FRMO Corp. reported strong financial results for Q3 2021, with a net income of $34.34 million ($0.78 per share), a significant recovery from a loss of $4.53 million in Q3 2020. Book value increased to $257.9 million ($5.86 per share), up from $161.9 million in the previous year. Total assets reached $286.78 million, bolstered by current assets of $173.1 million, primarily in cash and equity securities. Current liabilities rose to $28.9 million. The company's revenue for the nine months ended February 28, 2021, was $108.26 million, compared to a loss of $3.46 million in the same period last year.

FRMO Corp. (OTC Pink: FRMO) is set to hold a follow-up conference call on January 28, 2021, at 4:15 PM ET. The call will address remaining questions from the January 21, 2021, earnings call regarding the second quarter ending November 30, 2020. Only pre-submitted questions to info@frmocorp.com will be considered. FRMO specializes in investment and revenue generation through consulting and advisory fees in asset management. As of November 30, 2020, FRMO had 44,012,781 shares outstanding.