Frmo Corp (FRMO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone. This is Therese Beyer speaking, and I'm the Corporate Secretary of FRMO Corp. Thank you for joining us on this call. The statements made on this call apply only as of today. The information on this call should not be construed to be a recommendation to purchase or sell any particular security or investment fund. The opinions referenced on this call today are not intended to be assumed that it should not be assumed that any of the security transactions referenced today have been or will prove to be profitable, or that future investment decisions will be profitable or will equal or exceed the past performance of the investments. For additional information, you may visit the FRMO Corp website at www.frmocorp.com. Today's discussion will be led by Murray Stahl, Chairman and Chief Executive Officer. He will review the key points related to the fiscal 2025 second quarter earnings. And now I'll turn the discussion over to Mr. Stahl. Okay, thank you, Suarez. Thanks for joining us everybody today. So first off, let me explain why my colleague, Mr. Bregman, is not with us today because he came home from vacation and found a pipe burst in his home, and there's no heat in his home as well. And it's pretty cold out there, and there's a lot of work that needs to be done to repair that, which my understanding is very little has been done so far. So he has his own headaches. So we can excuse him, and I will be doing the call. Hope you don't mind. And let's turn our attention then to FRMO. So I'll start with just some highlights. of these recently released financial statements that may not be entirely obvious, even though you can find some of this information in the footnotes. To begin with, so you're probably aware that Horizon Kinetics is now a publicly tr...