FRMO Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended February 28, 2023
April 13, 2023 at 10:20 pm IST
Share
FRMO Corporation reported earnings results for the third quarter and nine months ended February 28, 2023. For the third quarter, the company reported negative revenue was USD 109.73 million compared to USD 15.76 million a year ago. Net loss was USD 34.9 million compared to USD 12.01 million a year ago. Basic loss per share from continuing operations was USD 0.79 compared to USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.79 compared to USD 0.27 a year ago.
For the nine months, revenue was USD 31.39 million compared to negative revenue of USD 31.76 million a year ago. Net income was USD 7.45 million compared to net loss of USD 11.4 million a year ago. Basic earnings per share from continuing operations was USD 0.17 compared to basic loss per share from continuing operations of USD 0.26 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to diluted loss per share from continuing operations of USD 0.26 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 