Frmo Corporation Reports Earnings Results for the Fourth Quarter Ended May 31, 2020
August 14, 2020 at 10:02 pm
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FRMO Corporation announced earnings results for the fourth quarter ended May 31, 2020. For the fourth quarter, the company announced negative total revenue was USD 18.678 million compared to total Revenue of USD 1.652 million a year ago. Operating loss was USD 19.001 million compared to operating Income of USD 1.307 million a year ago. Net loss was USD 9.332 million compared to net income of USD 1.601 million a year ago. Diluted loss per share was USD 0.21 compared to diluted earnings per share of USD 0.04 a year ago. For the full year, negative total revenue was USD 22.142 million compared to total Revenue of USD 19.565 million a year ago. Operating loss was USD 23.479 million compared to operating Income of USD 18.233 million a year ago. Net loss was USD 14.564 million compared to net income of USD 4.709 million a year ago. Diluted loss per share was USD 0.33 compared to diluted earnings per share of USD 0.11 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 
