FRMO Corporation (FRMO) Q2 2024 Earnings Call Transcript

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FRMO Corporation (OTCPK:FRMO) Q2 2024 Earnings Conference Call January 16, 2024 4:15 PM ET

Company Participants

Therese Byars – Corporate Secretary

Murray Stahl – Chairman and CEO

Conference Call Participants

Therese Byars

Good afternoon, everyone. This is Therese 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 today 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 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 website at frmocorp.com.

Today’s discussion will be led by Murray Stahl, Chairman and Chief Executive Officer. He will review key points related to the 2024 second quarter earnings. A replay for this call will be available on the FRMO website until the summary transcript is posted.

And now I’ll turn it over to Mr. Stahl.

Murray Stahl

Okay. Thanks, Therese, and thanks, everybody, for joining us. I’ll just go right into it. This quarter, I would argue was a milestone quarter for us. The reason I say it was a milestone quarter for us is, you’ll observe that our biggest position, TPL, was actually down for the quarter, and you can see the line of unrealized losses.

Of course, that’s on all our realized losses because we’re consolidating HK Hard Assets, but it was down, however, it was more than balanced by two

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