FRMO Corporation Reports Earnings Results for the Second Quarter Ended November 30, 2020
January 14, 2021 at 08:34 pm IST
Share
FRMO Corporation announced earnings results for the second quarter ended November 30, 2020. For the second quarter, the company announced total revenue was USD 22.005 million compared to USD 2.247 million a year ago. Net income was USD 11.671 million compared to net loss of USD 481,719 a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.01 a year ago. For the half year, total revenue was USD 18.777 million compared to negative total revenue of USD 1.740 million a year ago. Net income was USD 11.853 million compared to net loss of USD 700,580 a year ago. Basic earnings per share from continuing operations was USD 0.27 compared to basic loss per share from continuing operations of USD 0.02 a year ago.
FRMO Corporation is an intellectual capital firm, which identifies and manages investment strategies and business opportunities. The Company is focused on making strategic investments in public and private companies. The Company's investments in unconsolidated subsidiaries include Miami International Holdings, Inc., CNSX Markets, Inc., American Financial Exchange, LLC and Horizon Kinetics, LLC (Horizon Kinetics). Horizon Kinetics is an investment advisory and independent research firm, with research activities serving primarily institutional investors. Horizon Kinetics provides in-depth analysis of information-poor, under-researched companies and strategies to identify complex or overlooked situations that can offer an advantage to the investor. The Company's investments in limited partnerships include Horizon Multi-Strategy Fund, LP, CDK Partners, LP, Polestar Fund, LP, Multi-Disciplinary Fund, LP, Kinetics Institutional Partners, LP and others.
FRMO CORPORATION 
