FRMO Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended February 28, 2022
April 14, 2022 at 06:45 pm EDT
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FRMO Corporation reported earnings results for the third quarter and nine months ended February 28, 2022. For the third quarter, the company reported negative revenue was USD 15.76 million compared to revenue of USD 89.48 million a year ago. Net loss was USD 12.01 million compared to net income of USD 34.34 million a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 0.78 a year ago.
For the nine months, negative revenue was USD 31.76 million compared to revenue of USD 108.26 million a year ago. Net loss was USD 11.4 million compared to net income of USD 46.19 million a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to diluted earnings per share from continuing operations of USD 1.05 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 
