Welcome to our dedicated page for Frmo news (Ticker: FRMO), a resource for investors and traders seeking the latest updates and insights on Frmo stock.
FRMO Corp. (FRMO) is an investment advice industry company in the finance and insurance sector whose common stock trades on the OTC Pink market. The company invests in and receives revenues based upon consulting and advisory fee interests in the asset management sector, and its public news releases focus heavily on financial performance, investment results, and governance developments.
News about FRMO frequently covers quarterly and annual financial results, including book value, equity attributable to shareholders, and net income or loss attributable to the Company. These updates highlight how fees, equity earnings from limited partnerships, unrealized gains and losses from investments, and unrealized gains and losses from equity securities and digital assets affect overall performance. The company also discusses a non-GAAP measure that excludes unrealized gains and losses from equity securities and digital assets, providing additional context for its earnings.
Investors following FRMO’s news can also expect disclosures about its relationships with Horizon Kinetics Hard Assets LLC and Horizon Kinetics Holding Corporation, including consolidation of HKHA and the impact of noncontrolling interests on reported results. The company’s releases note its exposure to digital assets and reference efforts to expand digital asset mining operations, which can influence both balance sheet values and unrealized gains or losses.
In addition to financial data, FRMO’s news flow includes corporate governance updates such as appointments to the Board of Directors, changes in board size, and adjustments in leadership roles like Chairman, Vice Chairman, and Lead Independent Director. The company also announces conference calls and annual meetings, providing registration details for shareholders and other interested parties. For readers seeking ongoing insight into FRMO’s financial trends, investment exposures, and governance changes, this news stream offers a detailed, period-by-period view of the company’s public disclosures.
FRMO Corp. reported its financial results for the 2025 first quarter ended August 31, 2024. Total book value increased to $503.1 million ($11.43 per share on a fully diluted basis), including $226.6 million of non-controlling interests. Net income attributable to the Company rose to $34,486,751 ($0.78 per diluted share) compared to $32,329,985 ($0.73 per diluted share) a year earlier.
Current assets amounted to $366.0 million, primarily comprised of cash, equivalents, and equity securities. Total liabilities were $45.2 million. The Company holds a 21.86% equity interest in Horizon Kinetics Hard Assets and a 4.95% interest in Horizon Kinetics A conference call to discuss the results is scheduled for October 22, 2024.
FRMO Corp. (OTC Pink: FRMO) reported its fiscal 2024 results, ending May 31, 2024. Total book value reached $403.3 million ($9.16 per diluted share), with $242.1 million ($5.50 per share) excluding non-controlling interests. Annual net income attributable to the company was $72,558,671 ($1.65 per diluted share), compared to a loss of $12,603,972 in 2023. Current assets increased to $276.1 million from $201.3 million in the previous year. The company reported significant unrealized gains from equity securities and investments. FRMO's interest in Horizon Kinetics Hard Assets (HKHA) remained stable at 21.84%. The Annual Meeting is scheduled for September 5, 2024, at The Harvard Club of New York City and via webcast.
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FRMO Corp. (OTC Pink: FRMO) reported its financial results for the third quarter ending February 28, 2023. The total book value reached $342.9 million ($7.79 per share), a rise from $314.3 million a year prior. The current assets increased to $252.6 million from $223.8 million a year ago. However, the net loss attributable to the company for Q3 was $(34.9 million) or $(0.79) per share, worsening from a net loss of $(12 million) or $(0.27) per share in the previous year. In contrast, the nine-month net income stood at $7.4 million ($0.17 per share) compared to a loss of $(11.4 million) in 2022. Unrealized losses from investments totaled $(90.4 million) in Q3. A conference call is scheduled for April 18, 2023, to discuss these results further.
FRMO Corp. reported strong financial results for the second quarter of 2023, ending November 30, 2022, with a net income of $34.87 million ($0.79 per share), compared to a loss of $0.35 million a year prior. Total book value increased significantly to $443.4 million, up from $314.3 million, driven by substantial unrealized gains from equity securities. Current assets rose to $341 million, with total liabilities at $34.1 million. The Company will also host a conference call on January 17, 2023. Director Allan Kornfeld resigned effective December 31, 2022, acknowledged for his contributions.
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.