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FRMO Corp. Announces Third Quarter 2019 Financial Results and Conference Call
FRMO Corp. Announces Third Quarter 2019 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 2019 third quarter, which ended February 28, \n 2019 (May Fiscal Year).\n \n \n Financial Highlights\n \n \n FRMO’s book value as of February 28, 2019 was $171.0 million ($3.89 per \n share on a fully diluted basis), including $46.8 million of \n non-controlling interests. The figure from the prior fiscal year-end as \n of May 31, 2018 was $146.9 million ($3.34 per share), including $27.6 \n million of non-controlling interests. Current assets, comprised \n primarily of cash and equivalents and equity securities, amounted to \n $115.8 million as of February 28, 2019, and $93.2 million as of May 31, \n 2018. Total liabilities were $14.6 million as of February 28, 2019, \n compared to $13.5 million as of May 31, 2018, the majority of each being \n deferred taxes.\n \n \n FRMO’s net (loss) income attributable to the Company for the three \n months ended February 28, 2019 was $(686,989) ($(0.02) per share basic \n and diluted) compared to $13,053,961 ($0.30 per share) for the quarter \n ended February 28, 2018. For the nine months ended February 28, 2019, \n net income attributable to the company was $3,108,131 ($0.07 per share \n basic and diluted) compared to $18,317,781 ($0.42 per share) for the \n same period in the prior year.\n \n \n For the third quarter of fiscal 2019, comprehensive (loss) income \n attributable to the Company was $(686,989) compared to $12,743,418 in \n the prior year. For the nine months ended February 28, 2019, \n comprehensive income attributable to the Company was $3,108,131 and for \n the prior year it was $18,220,191.\n \n \n FRMO’s net income attributable to the Company excluding the effect of \n unrealized gain (loss) from equity securities net of taxes for the three \n months ended February 28, 2019 was $587,901 ($0.01 per diluted share) \n compared to $13,053,961 ($0.30 per share) for the three months ended \n February 28, 2018. For the nine months ended February 28, 2019, the \n amount was $5,628,657 ($0.13 per share) compared to $18,317,781 ($0.42 \n per share) for the same period in the prior year. Net income \n attributable to the Company excluding the effect of unrealized gains \n from equity securities net of taxes is a measure not based on GAA...