FRMO FRMO Corporation (PK)

FRMO Corp. (the “Company” or “FRMO”) (OTC Pink: FRMO) today reported its financial results for its 2014 first quarter, which ended August 31, 2013 (May Fiscal Year).

Financial Highlights

FRMO’s 2014 net income for the first quarter ending August 31, 2013 was $1,403,230 ($0.03 per share basic and diluted) compared with $1,054,160 ($0.03 per share basic and diluted) for the first quarter of the 2013 fiscal year.

Book value was $82.8 million ($1.91 per share; $1.89 per share diluted) as of August 31, 2013 vs. $83.4 million ($1.93 per share; $1.90 per share diluted) at fiscal 2013 year end. Current assets, comprised primarily of cash and equivalents and investments available for sale, amounted to $74.0 million as of August 31, 2013 and $74.8 million as of May 31, 2013. Total liabilities amounted to $12.4 million as of August 31, 2013 compared to $12.7 million for the prior quarter, the majority of each being deferred taxes.

Further details are available in the Quarterly Report of the Company’s Consolidated Financial Statements for the quarter ended August 31, 2013. These statements have been filed on the OTC Markets Group Disclosure and News Services (DNS), which may be accessed at www.otcmarkets.com/stock/FRMO/filings. These documents are also available on the FRMO web site at www.frmocorp.com.

Conference Call

Murray Stahl, Chairman and CEO, and Steven Bregman, President and CFO, of FRMO Corp. will host a conference call on Thursday, October 17, 2013 at 4:15 p.m. ET. The call can be accessed by dialing 1-888-576-4398 (domestic toll free) or 719-325-2428 (international toll) and entering the following conference ID: 7759858. A replay will be available from 6:15 p.m. on the day of the teleconference until November 16, 2013. To listen to the archived call, dial 1-888-203-1112 (domestic toll free) or 719-457-0820 (international toll), and enter conference ID number 7759858.

          Condensed Consolidated Balance Sheets (in thousands) August 31,

May 31,

2013 2013 (Unaudited) Assets Current Assets: Cash and cash equivalents $ 25,743 $ 26,525 Investments, available for sale, at fair value 46,162 47,306 Other   2,109   1,012 Total Current Assets 74,014 74,843 Investment in unconsolidated limited liability co. 10,994 10,974 Participation in Horizon Kinetics revenue stream   10,200   10,200 Total Assets $ 95,208 $ 96,017   Liabilities and Stockholders' Equity Current Liabilities: Deferred Tax Liability $ 5,582 $ 5,852 Redeemable preferred stock 50 50 Other current liabilities   2,495   2,510 Total Current Liabilities 8,127 8,412 Deferred Tax Liability – non-current   4,237   4,238 Total Liabilities 12,364 12,650 Stockholders' Equity   82,844   83,367   Total Liabilities and Stockholders' Equity $ 95,208 $ 96,017           Condensed Consolidated Statements of Income (amounts in thousands, except share data)   Three Months Ended August 31, August 31, 2013     2012 (Unaudited) Revenue: Consultancy and advisory fees $ 679 $ 542 Income from investment partnerships and limited liability companies 1,256 450 Other   447   904 Total Revenue 2,382 1,896 Total Expenses   213   245   Income from Operations 2,169 1,651 Provision for Income Taxes   766   597   Net Income $ 1,403 $ 1,054   Basic and Diluted Earnings per Common Share $ 0.03 $ 0.03   Weighted Average Common Shares Outstanding Basic 43,256,755 39,138,154 Diluted 43,646,328 39,188,154  

About FRMO Corp.

FRMO Corp. invests in and receives revenues based upon consulting and advisory fee interests in the asset management sector.

FRMO has 43,261,972 shares of common stock outstanding.

For more information, visit our Web site at www.frmocorp.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, the general economics of the financial industry, our ability to finance growth, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market.

Further information on our risk factors is contained in our quarterly and annual reports as filed on our website www.frmocorp.com and on www.otcmarkets.com/stock/FRMO/filings.

FRMO Corp.Thérèse Byars, 646-495-7337Corporate Secretarytbyars@frmocorp.comwww.frmocorp.com