FRMO Corp. Announces Results for Fiscal 2012

  FRMO Corp. Announces Results for Fiscal 2012

         Extends invitation to attend Annual Meeting in NYC August 28

Business Wire

PLEASANTVILLE, N.Y. -- August 08, 2012

FRMO Corp. (FRMO-OTC-PINK), has issued its audited Annual Report for its
fiscal year ended May 31, 2012.

Financial Highlights
FRMO’s net income was $3.27 million (8.3 cents per share pre and post full
dilution) for the fiscal year ended May 31, 2012. Being that the financials
were GAAP audited and also for a changed fiscal year, income cannot be
presented on a comparable basis to the fiscal February 28, 2011 previous
year results, which were unaudited.

Tangible book value advanced for the eleventh consecutive year (since
inception) to a record $54.26 million ($1.38 per share) vs. $50.92 ($1.30 per
share). Current assets, comprised primarily of cash and equivalents and
investments available for sale, amounted to $59.09 million. Total liabilities
amounted to $5.05 million, the majority being non-current deferred taxes.

Further detail is available in the audited report of the Company’s
Consolidated Financial Statements for the Year Ended May 31, 2012, and for
contextual content in particular, the Letter to Shareholders from Murray
Stahl, Chairman and Chief Executive Officer. These, as well as the Proxy
Statement for the Annual Meeting of Shareholders, have been filed on the OTC
Markets Group’s Disclosure and News Services (DNS), which may be accessed at
www.otcmarkets.com/stock/FRMO/filings. These documents, as well as research
referred to in the Shareholder Letter, are also available on the FRMO web
site, www.frmocorp.com.

Condensed Consolidated Balance Sheets
                                                 May 31,        May 31,
(in thousands)                                                 
                                                 2012           2011
Assets
Current Assets:
Cash and equivalents                             $ 19,405       $ 16,703
Investments, available for sale, at fair value     38,376         34,762
Other                                              1,312          1,635
Total current assets                             $ 59,093       $ 53,100
Other Assets                                       217            5,106
Total Assets                                     $ 59,310       $ 58,206
                                                                 
Liabilities and Stockholders’ Equity
Current Liabilities                              $ 2,091        $ 4,830
Redeemable preferred stock                         50             -
Total Current Liabilities                          2,141          4,830
Deferred Tax Liability – non-current               2,909          2,452
Total Liabilities                                  5,050          7,282
                                                                 
Stockholders’ Equity                               54,261         50,924
Total Liabilities and Stockholders’ Equity       $ 59,310       $ 58,206

Condensed Consolidated Statement of Income
(in thousands)                                Year Ended
                                              May 31, 2012
Revenue:
Consultancy and advisory fees                 $ 2,325
Income from investment partnerships             1,321
Revenue from unconsolidated subsidiary          169
Other                                           1,670
Total Revenue                                 $ 5,485
                                               
Total Expenses:                                 885
                                               
Income from Operations                          4,600
Provision for Income Taxes                      1,332
Net Income                                    $ 3,268
                                               
Basic and Diluted Earnings per Common Share   $ 0.08
                                               
Weighted Average Common Shares Outstanding
Basic                                           39,138,105
Diluted                                         39,188,105
                                                 

Other Matters – Annual Meeting Invitation
The Chairman and President and Board of Directors of FRMO Corp. cordially
invite your attendance at its Annual Meeting where they will review the Fiscal
2012 financial results, the outlook for the future and be available to answer
questions. We look forward to meeting you. The Annual Meeting will be held on:

Tuesday, August 28, 2012 at 3PM
at the Harvard Club,
27 West 44^th Street in New York City.

____________________

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

FRMO has 39,138,154 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.fromcorp.com and on www.otcmarkets.com/stock/FRMO/filings.

Contact:

FRMO Corp.
Lester J. Tanner, Esq.
General Counsel
Email: lestanner18@gmail.com
Telephone: 914-385-0244
www.frmocorp.com
or
Thérèse Byars
Corporate Secretary
Email: tbyars@frmocorp.com
Telephone: 646-495-7337
www.frmocorp.com