as of 08-20-2026 2:20pm EST
Forum Markets Inc is a financial technology company focused on developing infrastructure that supports the origination, financing, and distribution of RWAs through blockchain-enabled capital markets. The company's business approach is centered on integrating traditional financial asset markets with blockchain-based infrastructure to enable the tokenization of income-generating real-world assets such as consumer credit, equipment finance assets, and other contractual cash-flow streams. It utilizes blockchain infrastructure, including Ethereum and related Layer-2 scaling protocols, to support the issuance, management, and potential secondary trading of tokenized financial instruments.
| Founded: | N/A | Country: | United States |
| Employees: | N/A | City: | PALM BEACH |
| Market Cap: | 75.7M | IPO Year: | 2017 |
| Target Price: | $5.00 | AVG Volume (30 days): | 180.0K |
| Analyst Decision: | Buy | Number of Analysts: | 1 |
| Dividend Yield: | N/A | Dividend Payout Frequency: | semi-annual |
| EPS: | -4.69 | EPS Growth: | -250.68 |
| 52 Week Low/High: | $1.76 - $7.15 | Next Earning Date: | 05-26-2026 |
| Revenue: | $6,547,000 | Revenue Growth: | N/A |
| Revenue Growth (this year): | 183.55% | Revenue Growth (next year): | 166.48% |
| P/E Ratio: | -1.25 | Index: | N/A |
| Free Cash Flow: | N/A | FCF Growth: | N/A |
SEC 8-K filings with transcript text
May 14, 2026
2 ea029075901ex99-1.htm
Exhibit 99.1
Forum Reports First Quarter 2026 Financial Results
PALM BEACH, Fla., May 14, 2026 /PRNewswire/ — Forum Markets, Incorporated (Nasdaq: FRMM) (“Forum” or the “Company”), a digital asset platform modernizing capital markets through the tokenization of real-world assets, today reported financial results for the first quarter ended March 31, 2026.
“Forum continues to execute against our core strategy of building a platform centered on originating, structuring, and tokenizing institutional-grade, yield-generating assets,” said McAndrew Rudisill, chairman and CEO. “We’ve expanded our origination capabilities with our entry into AI infrastructure bridge financing through NVIDA GPU-backed transactions and have made significant progress toward establishing distribution and co-investment partnerships with banks and large institutional investment companies. These developments reinforce the strength of our model — generating yield today while building a sustainable, scalable tokenization pipeline — and we believe they position Forum well to create long-term value.”
Business Highlights:
●Established AI Infrastructure Financing: Announced entry into AI infrastructure financing through short-term bridge loans supporting the acquisition and deployment of NVIDA GPUs for AI data centers, targeting mid-teens annualized returns. The strategy generates immediate income while establishing a scalable pipeline of high-yield, institutional-grade assets for potential tokenization.
●Announced Shareholder Value Initiatives: Announced share repurchases and the formation of a special committee of independent directors to evaluate strategic alternatives, with the goal of maximizing shareholder value. After the quarter end, the Company deployed approximately $25 million to repurchase 5.8 million shares, representing 28% of shares outstanding, all of which have been retired and cancelled. Following the repurchase, as of April 30, 2026, the Company had approximately 14.5 million shares outstanding.
“The first quarter and the weeks since have been a period of meaningful activity across the business — expanding our real-world asset base, executing a significant share repurchase program, and initiating a formal strategic review process,” said John Saunders, chief financial officer. “As we look to the balance of 2026, our focus remains on growth through multiple levers: expansion of asset pipelines, increased capital deployment, and broader distribution through retail and institutional partnerships. These are positioning Forum to increase scale across our tokenization platform, and we remain on track for accelerated, year-over-year revenue growth by the end of 2026.”
Outlook
Forum is updating its full-year 2026 outlook to reflect the capital
deployed into its share repurchase program. Approximately $25 million was used to repurchase and retire 5.8 million shares — capital the Company views as having been deployed at a highly accretive price, but which is no longer available for deployment into revenue-generating assets. As a result, Forum expects a moderately slower pace of near-term AUM growth while maintaining its conviction in the long-term opportunity. The 2027 revenue outlook is unchanged.
●The Company now expects to exit 2026 with between $100 million and $175 million in assets under management (AUM) across its tokenized and pre-tokenization credit portfolios, compared with prior guidance of $125 million to $200 million. AUM is expected to grow asymmetrically in the back half of the year as new origination pipelines come online.
●The Company anticipates total revenue to be in the range of $18 million to $22 million. This compares to prior guidance of $18 million to $26 million, reflecting a moderately slower pace of near-term capital deployment, partially offset by yield income from the existing asset base and early-stage origination and structuring economics.
●Forum is targeting AUM at year-end 2027 to be in the range of $250 million to $300 million, which the Company believes would result in year-over-year revenue growth of 50% to 100% in 2027.
First Quarter 2026 GAAP Financial Highlights
(in millions) For the Quarter Ended
March 31,
2026
Revenue $2.9
Gross Profit $2.9
Cash and Cash Equivalents $65.9
●Revenue of $2.9 million, driven primarily by aircraft engine lease revenue of $1.1 million, staking revenue of $1.8 million
●Net loss from Continuing Operations of $77.5 million, primarily attributable to realized losses on disposition of digital assets
●Adjusted EBITDA loss of $76 million*
*Schedules reconciling the Company’s generally accepted accounting principles in the United States (“GAAP”) and non-GAAP financial results, including Adjusted EBITDA, are included later in this release (see also “Non-GAAP Financial Measures”, below).
2
Conference Call Information
The Company will host a live webcast at
Mar 31, 2026
2 ea028428401ex99-1.htm
Exhibit 99.1
Forum Reports Fourth Quarter and Full Year 2025 Financial Results
Company Introduces 2026 Guidance as RWA Tokenization Platform Begins to Scale
PALM BEACH, Fla., March 31, 2026 /PRNewswire/ — Forum Markets, Incorporated (Nasdaq: FRMM) (“Forum” or the “Company”), a digital asset platform modernizing capital markets through the tokenization of real-world assets on Ethereum, today reported financial results for the fourth quarter and full year ended December 31, 2025.
“In less than a year, Forum has moved from concept to execution: from building the infrastructure, establishing key partnerships, and validating our technology, to generating revenue from yield on a growing base of real-world assets,” said McAndrew Rudisill, chairman and CEO. “Our recent launch of the Eurus Aero Token I demonstrates that our tokenization framework works in practice, enabling contracted, cash-flow-generating assets to be brought onto the blockchain for qualified investors. Today, we generate yield on our growing asset base, and tokenization multiplies the value of that model over time, a combination that differentiates Forum from many digital asset oriented companies. The transition from traditional to blockchain-based capital markets is underway. The question is not if it happens, but who builds and scales the leading platforms. As an early mover in this space, we intend for Forum to be one of those platforms.”
Business Highlights:
●Expanded Real-World Asset Origination Ecosystem: Acquired a 20% ownership stake in Karus, an AI-driven auto credit analytics platform, and a 15% stake in Zippy, a digital manufactured housing lending platform, establishing access to large-scale asset pipelines across auto credit and residential lending.
●Completed Strategic Rebrand to Forum Markets: Rebranded from ETHZilla Corporation to Forum Markets, Incorporated, and began trading under the ticker “FRMM” progressing the Company’s evolution towards a platform focused on institutional-grade real-world asset tokenization and blockchain-based capital markets infrastructure.
●Launched First of its Kind Tokenized Aerospace Product: Introduced Eurus Aero Token I, an L2 Ethereum-based asset backed by jet engines leased to a major U.S. air carrier, marking the first demonstration of Forum’s framework for tokenized, cash-flow-generating real-world assets. The novel offering provides accredited investors exposure to aerospace lease income through tradable digital tokens distributed via the Liquidity.io ecosystem with a minimum investment of only $1,000.
●Expanded Portfolio of High Yielding Assets for Tokenization: Acquired a portfolio of 95 manufactured and modular home loans for approximately $4.7 million, expected to generate approximately 10.36% annualized yield. This acquisition represents Forum’s first residential credit asset pool intended for tokenization and generates immediate yield for the Company.
●Activated Real-World Credit Infrastructure for Auto Loan Tokenization: Established a $10 million revolving auto loan warehouse facility enabling 24/7/365 blockchain-enabled loan settlement and short-duration aggregation of receivables sourced through the Karus network. The facility is expected to immediately generate approximately 12–13% annualized yield and provides a scalable pipeline for future tokenized auto credit products.
●Repositioned Balance Sheet to Support RWA Revenue-Oriented Strategy: Eliminated direct Ether price exposure through ETH sales and derivative hedging of its remaining position and reallocated capital toward income-generating real-world assets and tokenization infrastructure aligned with the Company’s strategy.
●Strengthened Governance and Leadership Infrastructure: Expanded the Board of Directors with the appointments of Angela Dalton and Michael Edwards as independent directors and appointed Robert Spake as General Counsel, enhancing governance and regulatory expertise as Forum scales its tokenized asset platform.
“2025 was the year we built the foundation — repositioning the balance sheet, establishing key origination partnerships, and beginning to deploy capital into income-producing real-world assets,” said John Saunders, chief financial officer. “As we enter 2026, we are introducing our initial full-year guidance.
Looking further ahead, we are targeting meaningful year-over-year revenue growth acceleration as we exit 2026 setting us up to generate positive cash flow in 2027. The fundamentals of this business — yield today, tokenization economics tomorrow, recurring asset management fees over the long term — are intact and improving.”
Outlook
●The Company expects to exit 2026 with between $125 million and $200 million in assets under management (AUM) across its tokenized and pre-tokenization credit portfolios. This range reflects its current asset pipelines across aircraft engines, auto credit, manu
Nov 14, 2025
3 ea026568901ex99-1_ethzilla.htm
Exhibit 99.1
ETHZilla Reports Third Quarter 2025 Financial Results
Company generates $4.1 million in revenue in first six weeks operating as ETHZilla;
Accelerates RWA tokenization initiatives
PALM BEACH, Fla., – Nov. 14, 2025 – ETHZilla Corporation (Nasdaq: ETHZ) (“ETHZilla” or the “Company”), a technology company connecting traditional finance and decentralized finance (DeFi), today announced financial results for the third quarter ended September 30, 2025.
Management Commentary
“This quarter marked a transformative leap for ETHZilla, establishing us as a technology leader in DeFi and positioning us for real-world asset (RWA) tokenization,” said McAndrew Rudisill, chairman and chief executive officer. “With the aggressive deployment of our substantial Ethereum holdings into leading restaking protocols, we’re generating robust, compounding yields while contributing to network security. Our strategic partnership with Liquidity.io, including a 15% equity stake in its parent company Satschel, Inc., lays the foundation to begin tokenizing high-value, real-world and financial assets on Ethereum Layer 2 (L2) networks, enhancing liquidity, reducing friction, and broadening access for all investors. While the tokenization of global assets is still in its early stages, we believe ETHZilla is well positioned to lead this charge and be a first mover in this space as we begin to tokenize assets in the coming weeks. We believe ETHZilla’s unique business model enables it to capture the full upside of ETH appreciation alongside sustainable on-chain cash flows, recurring cash flow from tokenization, and lead the development of what is anticipated to be a multi-trillion-dollar tokenized asset economy.”
Business Highlights
●Secured $931 million in Institutional Capital: Raised approximately $931 million through multiple high-conviction financings, including a $425 million PIPE on August 4, 2025; a $156 million convertible note on August 11, 2025; and a $360 million convertible note on September 23, 2025. This robust backing from top-tier institutions is a testament to ETHZilla’s strategic transformation and emerging leadership in tokenized real-world asset infrastructure.
●Strategic Restaking Deployment: In partnership with Electric Capital generated approximately 7.5% yield on deployed ETH in the third quarter. Partnered with leading protocols Ether.fi and Puffer Finance to deploy approximately $257 million into liquid restaking, enhancing yield on our Ethereum treasury while expanding our footprint across DeFi. This move enhances capital efficiency, generates high-margin on-chain income, and captures the full upside of ETH appreciation.
●Landmark Partnership with Liquidity.io: Announced a strategic alliance with Liquidity.io, including a $15 million investment and a 15% equity stake in its parent company Satschel, Inc. We believe this partnership establishes ETHZilla as the premier platform for tokenizing high-value RWAs into fully compliant, liquid, on-chain instruments with seamless primary and secondary market access. Exclusive Ethereum L2 listing rights further cement the Company’s leadership in blockchain-powered financial innovation.
●Share Repurchase Program: Repurchased 2,099,472 shares for $46.3 million inclusive of fees through November 13, 2025, under our board-approved $250 million authorization. These NAV-accretive repurchases reflect management’s confidence in ETHZilla’s intrinsic value and an unwavering commitment to delivering superior returns through prudent, opportunistic capital allocation.
●Streamlined Legacy Portfolio for Focus & Growth: Successfully resolved all outstanding litigation against the legacy company, 180 Life Sciences, and divested the legacy biotechnology assets. The Company continues to retain the previously acquired iGaming assets until the physical assets associated with the tokenization cash flow have been initiated. We believe these actions further sharpen ETHZilla’s focus on high-growth digital asset tokenization and position the Company as a pure-play leader in the future of decentralized finance.
●Strengthened Executive & Board Leadership: Appointed McAndrew Rudisill as Chairman and CEO; John Saunders as CFO; John Kristoff as SVP of Corporate Communications and Investor Relations; and Max van der Griend as VP of Corporate Finance to help accelerate the Company’s tokenized asset platform and growth strategy. Welcomed Jason New, Vice Chairman of Investment Banking at Lazard, to the Board—adding proven capital markets expertise to advance ETHZilla’s mission of connecting institutional finance with decentralized finance.
Near-Term Outlook
●The Company expects revenue-generating RWAs on chain in the coming weeks.
●The Company anticipates positive adjusted EBITDA in the fourth quarter.
●L2 protocol yield expected to range between 3.5% and 4.5%, assuming no new ETH de
See how FRMM stacks up against similar companies in the market
Enhance your trading experience with our free tools
The information presented on this page, "FRMM Forum Markets Incorporated Common Stock - Stocks Price | History | Analysis", including historical data, forecasts, news, insider information, and predictions, is provided for educational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any securities. Decisions regarding investments should be made only after careful consideration and consultation with a qualified financial advisor. We do not endorse or guarantee the accuracy or reliability of the information provided, and we disclaim any liability for financial losses incurred as a result of decisions made based on the information presented.