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FRMO Corp. Announces Second Quarter 2016 Financial Results and Conference Call
FRMO Corp. Announces Second Quarter 2016 Financial Results and Conference Call.
About this update from Frmo Corp.
[{"type":"text","content":"\n \n FRMO Corp. (the “Company” or “FRMO”) (OTC Pink: FRMO) today reported its \n financial results for the 2016 second quarter, which ended November 30, \n 2015 (May Fiscal Year).\n \n \n Financial Highlights\n \n \n FRMO’s book value was $97.9 million ($2.23 per share) as of November 30, \n 2015, compared with $102.2 million ($2.34 per share) as of May 31, 2015, \n the prior fiscal year-end. Cash and cash equivalents amounted to $50.7 \n million as of November 30, 2015, versus $44.7 million as of May 31, \n 2015. Total liabilities were $15.7 million as of November 30, 2015, \n compared to $16.5 million as of May 31, 2015, the majority of each being \n deferred taxes.\n \n \n FRMO’s net income was $1,441,808 ($0.03 per share basic and diluted) for \n the three months ended November 30, 2015, up from $1,061,110 ($0.02 per \n share basic and diluted) for the same quarter of 2014. For the six \n months ended November 30, 2015, constituting the first half of the \n current fiscal year ending May 31, 2016, net income was $2,602,913 \n ($0.06 per share basic and diluted) up from $1,828,639 ($0.04 per share \n basic and diluted) for the same period in the prior year.\n \n \n Further details are available in the Quarterly Report of the Company’s \n Consolidated Financial Statements for the quarter ended November 30, \n 2015. These statements have been filed on the OTC Markets Group \n Disclosure and News Services (DNS), which may be accessed at www.otcmarkets.com/stock/FRMO/filings. \n These documents are also available on the FRMO web site at www.frmocorp.com.\n \n \n Conference Call\n \n \n Murray Stahl, Chairman and CEO, and Steven Bregman, President and CFO, \n will host a conference call on Tuesday, January 19, 2016 at 4:15 p.m. \n ET. Only questions submitted to [email protected] \n before 2:00 p.m. on the day of the call will be considered. The call \n can be accessed by dialing 1-888-481-2877 (domestic toll free) or \n 1-719-325-2491 (international toll) and entering the following \n conference ID: 7834541. A replay will be available from 7:15 p.m. on the \n day of the teleconference until Thursday, February 18, 2016. To listen \n to the archived call, dial 1-888-203-1112 (domestic toll free) or \n 1-719-457-0820 (international toll), and enter conference ID number \n 7834541.\n \n \n \...