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FRMO Corp. (FRMO) is an investment advisory and independent research company based in White Plains, New York. Established in 1993, FRMO Corp. has built a reputation for providing in-depth analysis and strategic insights into information-poor and under-researched companies. The company operates through its 4.95% interest in Horizon Kinetics, LLC, focusing primarily on institutional investors.
Core Business: FRMO Corp.'s primary business involves offering meticulous research and advisory services. Through its partnership with Horizon Kinetics, the company specializes in identifying complex investment opportunities that are often overlooked by mainstream analysts. By leveraging its extensive expertise, FRMO Corp. helps institutional investors make informed decisions.
Recent Achievements: FRMO Corp. has consistently delivered valuable insights and strategic advice, contributing to significant investment outcomes. The company's in-depth research has played a crucial role in uncovering hidden value in various markets.
Current Projects: The company is currently focused on several innovative research projects aimed at exploring new investment opportunities. These projects are designed to provide their clients with a competitive edge in a rapidly evolving financial landscape.
Financial Condition: FRMO Corp. maintains a stable financial position, supported by its ongoing success in the investment advisory space. The company's prudent management and strategic partnerships have ensured its continued growth and profitability.
Partnerships: As a stakeholder in Horizon Kinetics, LLC, FRMO Corp. benefits from a symbiotic relationship that enhances its research capabilities and broadens its reach. This partnership allows the company to access a diverse range of investment opportunities and deliver superior advisory services to its clients.
Products and Services: FRMO Corp. offers a suite of services aimed at institutional investors, including detailed company analyses, strategic investment recommendations, and market insights. By focusing on under-researched companies, the firm provides unique and valuable perspectives that help clients navigate complex market conditions.
Significance: FRMO Corp. stands out in the investment advisory sector due to its specialized focus on niche markets and its commitment to delivering high-quality, actionable research. The company's expertise and strategic approach make it a valuable partner for institutional investors seeking to enhance their investment strategies.
FRMO Corp reported significant financial growth in Q2 FY2025. Total book value reached $821.4 million ($18.66 per diluted share) as of November 30, 2024, including $407.8 million in non-controlling interests. Net income attributable to the Company surged to $136.9 million ($3.11 per diluted share) compared to $4.7 million ($0.11 per diluted share) year-over-year.
Current assets increased to $626.1 million, primarily consisting of cash, equivalents, and equity securities. The company's significant net income increase was attributed to a specific equity security investment. FRMO appointed Melinda J. Newman to its Board of Directors, bringing the total to nine members, with five being independent.
FRMO Corp has expanded its Board of Directors to nine members with the appointment of R. Rimmy Malhotra. The board now consists of nine directors, including five independent members. Malhotra, who serves as Managing Member and Portfolio Manager for Nicoya Fund LP, brings extensive experience in investment management. He previously managed the Gratio Values Fund and currently serves on the boards of HireQuest Inc and Optex System. The appointment comes as FRMO focuses on expanding and integrating several strategic investments approaching critical mass.
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.
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.
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