FRMO Corp. Q1 net loss widens on unrealized equity losses
FRMO•FRMO Corp. reported fiscal first-quarter revenue of $802,000 and a loss per share of $0.81. Its net loss widened, mainly because of unrealized losses on equity securities, while lower consulting and advisory fees also weighed on revenue.
1. Quarterly results
FRMO Corp. said fiscal first-quarter consulting and advisory fees decreased due to lower royalty participation from Horizon Kinetics Holding Corporation. The company reported a net loss excluding unrealized gains and losses, reversing a profit in the year-earlier period, and did not provide specific guidance for future quarters or the full year.
