FRMO Corporation (FRMO) Q3 2025 Earnings Call Transcript

2025-04-22 20:49:46 ET

FRMO Corporation (FRMO)

Q3 2025 Earnings Conference Call

April 22, 2025 4:15 PM ET

Company Participants

Thérèse Byars - Corporate Secretary

Murray Stahl - Chairman & Chief Executive Officer

Steven Gretna - President and Chief Financial Officer

Conference Call Participants

Presentation

Thérèse Byars

Good afternoon, everyone. This is Thérèse Byars 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 are not intended to be a forecast of future events or a guarantee of future results. It should not be assumed that any of the securities 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 FRMO Corp. frmocorp.com. Today’s discussion will be led by Mr. Murray Stahl, Chairman and Chief Executive Officer and Mr. Steven Gretna, President and Chief Financial Officer. They will review key points related to the 2025 third quarter earnings.

There was an error in the press release that the number for presenters on this call was sent out to our public and I just wanted to ask if you received that number and would you please mute your line so that he can hear Mr. Stahl and Mr. Gretna clearly. Thank you so much.

And now I’ll turn the discussion over to Mr. Stahl.

Murray Stahl

Okay. Thanks, Thérèse. Thanks, everybody, for dialing in and having patience with us. It’s a little technical issue and so, we’ll begin with some conceptual things. The balance sheet, earnings, I think they speak for themselves. The numbers are self-evident.

I think the thing to do is to give you an idea of how we look at these numbers, and we look at these numbers a little bit differently than you might look at these numbers with the spreadsheets. You’ll observe, of course, we release our holdings and debts of securities and cryptocurrencies, our big holdings, you know what those are. ...

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