FRMO Corporation (OTCPK:FRMO) Q1 2026 Earnings Call October 20, 2025 4:15 PM EDT
Company Participants
Thérèse Byars – Corporate Secretary
Murray Stahl – Chief Executive Officer
Presentation
Thérèse Byars
Corporate Secretary
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 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 frmocorp.com.
Today’s discussion will be led by Murray Stahl, Chief Executive Officer; and Steven Bregman, President and Chief Financial Officer. They will review key points related to the fiscal 2026 first quarter earnings.
And now I’ll turn the discussion over to Mr. Stahl.
Murray Stahl
Chief Executive Officer
Okay. Thank you, Thérèse. Thank you, everybody, for joining us. So I thought what I’d do today is I make a couple of general points, a variety of general points related to what the quarter was like and talk about it in the context of what we’ve been trying to accomplish for the last couple of years, and then we’ll turn it over to questions.
So, first part of the earnings themselves, the most salient event at least arithmetically, is the decline of our shares of Texas Pacific Land Trust. So it’s a decline in
