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    FRMM

    FORUM MARKETS Inc

    Company overview

    Market capitalization
    $64.15M
    Employees
    —
    Latest publication
    2026-09-29
    About FORUM MARKETS Inc

    Forum Markets, Incorporated, a financial technology company, develops a blockchain-based platform focused on the acquisition, structuring, and tokenization of real-world assets worldwide. The company facilitates decentralized finance (DeFi) transactions and asset digitization across multiple Layer 2 Ethereum networks. It also provides tokenization solutions, DeFi protocol integration, blockchain analytics, traditional-to-digital asset conversion gateways, and other DeFi services. It serves financial institutions, businesses, and organizations. The company was formerly known as ETHZilla Corporation and changed its name to Forum Markets, Incorporated in February 2026. Forum Markets, Incorporated is headquartered in Palm Beach, Florida.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Revenue1,365,000USD2,436,831USD4,110,169USD0USD0USD0USD0USD
    Cost Of Revenue967,000USD——————
    Gross Profit398,000USD2,436,831USD4,110,169USD————
    Selling General Administrative10,340,000USD12,042,521USD224,604,532USD1,407,657USD1,967,000USD997,594USD596,172USD
    General And Administrative Expenses10,340,000USD——————
    Total Operating Expenses10,340,000USD18,367,521USD224,604,532USD1,730,415USD1,967,000USD1,406,430USD596,172USD
    Operating Income-9,942,000USD-15,930,690USD-220,494,363USD-1,730,415USD-1,967,000USD-1,406,430USD-596,172USD
    Total Other Income Expense Net-2,479,000USD-215,592,272USD11,823,398USD3,811USD6,000USD-3,153,890USD74,335USD
    Interest Income377,000USD4,204,915USD327,211USD—0USD—0USD
    Interest Expense238,000USD2,736,091USD319,909USD2,672USD0USD9,198USD10,552USD
    Income Before Tax-12,421,000USD-231,522,962USD-208,670,965USD-1,726,604USD-1,961,000USD-4,569,518USD-532,389USD
    Income Tax Expense0USD——————
    Discontinued Operations-397,000USD——————
    Net Income-12,818,000USD-229,683,108USD-208,670,965USD-1,726,604USD-2,369,000USD-4,273,494USD-836,720USD
    Net Income Applicable To Common Shares-12,421,000USD——————
    Unclassified Operating Expenses—6,325,000USD—————
    Net Interest Income—1,468,824USD7,302USD-2,672USD0USD-9,198USD-10,552USD
    Tax Provision—0USD0USD0USD0USD-296,024USD0USD
    Net Income From Continuing Ops—-231,522,962USD-208,670,965USD-1,726,604USD-1,961,000USD-4,273,494USD-532,389USD
    Ebitda—-228,786,871USD-208,351,056USD-1,723,932USD———
    Research Development———322,758USD376,360USD408,836USD402,715USD
    Reconciled Depreciation———0USD0USD-3,131USD13,851USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USD
    Total Revenue0USD0USD0USD
    Research Development2,784,528USD2,432,565USD3,948,305USD
    Selling General Administrative10,692,972USD15,465,400USD11,692,698USD
    Total Operating Expenses13,477,500USD17,897,965USD15,641,003USD
    Operating Income-13,477,500USD-17,897,965USD-15,641,003USD
    Interest Income0USD1,508USD—
    Interest Expense44,828USD28,175USD186,208USD
    Net Interest Income-44,828USD-26,667USD-186,208USD
    Income Before Tax-22,284,526USD-39,669,008USD-20,347,852USD
    Tax Provision-2,349,414USD-942,749USD-23,204USD
    Net Income-19,935,112USD-38,726,259USD-20,324,648USD
    Net Income From Continuing Ops-19,935,112USD-38,726,259USD-20,324,648USD
    Reconciled Depreciation105,675USD109,004USD109,947USD
    Total Other Income Expense Net-8,762,198USD-21,744,376USD-4,520,641USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets159,031,000USD207,611,000USD306,297,000USD1,009,312,988USD10,714,161USD11,650,794USD12,764,000USD10,469,856USD
    Cash And Equivalents4,102,000USD———————
    Cash And Short Term Investments48,068,000USD65,905,000USD—558,901,384USD2,218,331USD———
    Short Term Investments43,966,000USD———————
    Long Term Investments43,966,000USD31,771,000USD50,129,000USD8,826,571USD——0USD—
    Total Current Assets14,191,000USD82,525,000USD13,570,000USD561,948,447USD3,031,820USD4,028,753USD5,142,000USD1,225,381USD
    Other Current Assets36,000USD4,787,000USD20,000USD3,014,651USD802,708USD———
    Total Liabilities31,229,000USD———————
    Total Current Liabilities5,279,000USD13,325,000USD40,929,000USD55,788,507USD5,333,598USD3,941,797USD3,505,000USD6,383,830USD
    Other Current Liabilities4,354,000USD———————
    Total Stockholder Equity127,802,000USD168,336,000USD239,418,000USD445,137,365USD5,380,563USD7,705,572USD9,252,000USD3,733,774USD
    Total Equity Including Noncontrolling Interest127,802,000USD———————
    Short Long Term Debt2,940,000USD251,000USD31,764,000USD50,485,846USD1,412,445USD148,391USD1,000USD3,245,838USD
    Long Term Debt14,266,000USD25,950,000USD25,950,000USD496,276,461USD—3,425USD6,616USD10,574USD
    Net Receivables1,024,000USD11,833,000USD—32,412USD10,781USD———
    Property Plant Equipment Net19,246,000USD19,290,000USD——————
    Accounts Payable570,000USD436,000USD1,539,000USD1,198,981USD2,204,060USD2,124,602USD306,000USD2,090,827USD
    Common Stock1,000USD2,000USD—1,666USD604USD———
    Retained Earnings-681,126,000USD-668,308,000USD-592,044,000USD-362,361,236USD-145,619,180USD-143,892,576USD-141,523,000USD-129,238,340USD
    Accumulated Other Comprehensive Income-3,179,000USD-3,195,000USD—-2,557,681USD-3,125,044USD———
    Total Liab—39,275,000USD66,879,000USD564,175,623USD5,333,598USD3,945,222USD3,512,000USD6,736,082USD
    Other Current Liab—11,735,000USD1,232,000USD4,103,680USD1,717,093USD—2,841,000USD—
    Capital Stock—2,000USD2,000USD1,666USD604USD519USD0USD103USD
    Cash—65,905,000USD8,018,000USD558,901,384USD2,218,331USD3,724,527USD4,567,000USD194,920USD
    Net Debt—-38,801,000USD49,696,000USD-12,139,077USD-805,886USD——3,061,492USD
    Short Term Debt—1,154,000USD—50,485,846USD1,412,445USD———
    Short Long Term Debt Total—27,104,000USD—546,762,307USD1,412,445USD———
    Property Plant Equipment Gross—19,290,000USD——————
    Common Stock Shares Outstanding—21,300,374shares19,064,000shares12,417,757shares570,812shares5,185,780shares3,176,999shares1,026,930shares
    Non Current Assets Total—125,086,000USD292,727,000USD447,364,541USD7,682,341USD7,622,041USD7,622,000USD9,244,475USD
    Non Current Liabilities Total—25,950,000USD25,950,000USD508,387,116USD0USD3,425USD7,000USD352,252USD
    Non Currrent Assets Other—74,025,000USD61,587,000USD438,537,970USD60,300USD—7,622,000USD—
    Net Working Capital—69,200,000USD-27,359,000USD506,159,940USD-2,241,478USD86,956USD1,637,000USD-5,158,449USD
    Unclassified Equity—839,835,000USD831,460,000USD810,052,950USD154,123,579USD151,597,629USD150,775,000USD132,972,011USD
    Unclassified Current Assets——5,532,000USD————1,030,461USD
    Unclassified Non Current Assets——181,011,000USD———-7,622,041USD—
    Unclassified Current Liabilities——6,394,000USD-50,485,846USD-1,412,445USD1,668,804USD—1,047,165USD
    Unclassified Non Current Liabilities———12,110,655USD————
    Intangible Assets————7,622,041USD7,622,041USD7,622,041USD9,244,475USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USD
    Total Assets306,297,000USD12,764,000USD5,259,476USD19,650,248USD62,713,670USD
    Other Current Assets5,552,000USD———49,755USD
    Total Liab66,879,000USD3,512,000USD5,387,209USD8,306,330USD23,390,975USD
    Total Stockholder Equity239,418,000USD9,252,000USD-127,733USD11,343,918USD39,322,695USD
    Other Current Liab39,139,000USD2,841,000USD58USD75,381USD15,220,367USD
    Common Stock2,000USD————
    Capital Stock2,000USD0USD54USD20USD170USD
    Retained Earnings-592,044,000USD-141,523,000USD-127,343,657USD-107,408,545USD-68,682,286USD
    Cash8,018,000USD4,567,000USD1,975,799USD6,970,110USD8,224,508USD
    Cash And Short Term Investments8,018,000USD————
    Total Current Assets13,570,000USD5,142,000USD3,639,906USD8,928,390USD11,201,091USD
    Total Current Liabilities40,929,000USD3,505,000USD5,062,616USD5,657,782USD19,699,284USD
    Net Debt18,183,000USD————
    Short Term Debt251,000USD————
    Short Long Term Debt31,764,000USD1,000USD1,034,124USD1,308,516USD1,909,356USD
    Short Long Term Debt Total26,201,000USD————
    Long Term Debt25,950,000USD6,616USD19,936USD31,189USD48,165USD
    Long Term Investments50,129,000USD0USD———
    Accounts Payable1,539,000USD306,000USD1,892,611USD1,801,210USD586,611USD
    Accumulated Other Comprehensive Income-2,993,000USD————
    Common Stock Shares Outstanding8,164,638shares3,176,999shares534,718shares197,205shares89,568shares
    Non Current Assets Total292,727,000USD7,622,000USD1,619,570USD10,721,858USD51,512,579USD
    Non Current Liabilities Total25,950,000USD7,000USD324,593USD2,648,548USD3,691,691USD
    Non Currrent Assets Other247,009,000USD7,622,000USD———
    Net Working Capital-27,359,000USD1,637,000USD-1,422,710USD3,270,608USD-8,498,193USD
    Unclassified Non Current Assets-4,411,000USD-7,622,041USD———
    Unclassified Current Liabilities-31,764,000USD—2,135,823USD2,472,675USD1,982,950USD
    Unclassified Equity834,451,000USD150,775,000USD127,215,870USD118,752,443USD108,004,811USD
    Intangible Assets—7,622,041USD1,619,570USD10,721,858USD14,524,693USD
    Unclassified Current Assets——1,664,107USD1,958,280USD2,926,828USD
    Good Will———0USD36,987,886USD
    Unclassified Non Current Liabilities———2,617,359USD3,643,526USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Depreciation1,409,000USD
    Stock Based Compensation3,917,000USD
    Change To Account Receivables-1,024,000USD
    Change To Liabilities-3,442,000USD
    Change In Working Capital-14,852,000USD
    Operating Cash Flow-32,892,000USD
    Capital Expenditures-16,813,000USD
    Net Investments-39,428,000USD
    Unclassified Investing Cash Flow110,271,000USD
    Investing Cash Flow54,030,000USD
    Net Common Stock Issuance-31,322,000USD
    Unclassified Financing Cash Flow5,252,000USD
    Financing Cash Flow-26,070,000USD
    Change In Cash-4,932,000USD
    End Cash Flow4,102,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ3 20222022-09-30 · USD
    Net Income-77,534,000USD-231,522,962USD-208,670,965USD-1,726,604USD-2,369,000USD-4,273,494USD-836,720USD-21,486,980USD
    Depreciation473,000USD——0USD0USD-3,131USD13,851USD—
    Stock Based Compensation104,000USD4,524,333USD208,241,459USD103,624USD578,000USD33,343USD16,456USD—
    Other Non Cash Items70,115,000USD220,937,817USD193,558,405USD103,624USD—1,548,714USD104,233USD—
    Change To Account Receivables-375,000USD———0USD———
    Change In Working Capital-13,608,000USD-1,572,588USD-1,321,253USD491,916USD490,000USD509,782USD302,333USD—
    Total Cash From Operating Activities-20,450,000USD-7,633,400USD-16,433,813USD-1,131,064USD-887,000USD-950,661USD-239,930USD—
    Capital Expenditures-16,813,000USD0USD-3USD-4USD0USD0USD0USD0USD
    Free Cash Flow-37,263,000USD-7,633,400USD-16,433,810USD-1,131,060USD-887,000USD-950,661USD-239,930USD—
    Investments-27,313,000USD———0USD———
    Total Cashflows From Investing Activities71,818,000USD124,736,414USD-252,370,414USD—————
    Total Cash From Financing Activities5,503,000USD-666,970,147USD825,476,467USD-350,000USD0USD5,043,082USD-466,703USD—
    Issuance Of Capital Stock5,503,000USD16,918,074USD——0USD2,572,789USD0USD—
    Change In Cash56,871,000USD-549,867,384USD556,683,053USD-1,506,196USD-890,000USD4,390,221USD-726,644USD—
    Begin Period Cash Flow9,034,000USD558,901,384USD2,218,331USD3,724,527USD4,567,000USD194,920USD1,146,288USD1,146,288USD
    End Period Cash Flow65,905,000USD9,034,000USD558,901,384USD2,218,331USD3,677,000USD4,585,141USD150,137USD1,146,288USD
    Other Cashflows From Investing Activities115,944,000USD124,736,414USD——————
    Net Borrowings—-654,128,067USD549,225,387USD-350,000USD-3,320USD-327,643USD-466,703USD—
    Sale Purchase Of Stock—-30,141,572USD-16,121,428USD—————
    Other Cashflows From Financing Activities—444USD-151,444USD—————
    Unclassified Financing Cash Flow—17,299,048USD292,523,952USD——2,797,936USD——
    Unclassified Operating Cash Flow——-208,241,459USD——1,234,125USD——
    Unclassified Investing Cash Flow——-252,370,411USD—————
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Net Income-443,531,000USD-6,168,000USD-19,935,112USD-38,726,260USD-20,324,650USD-10,884,060USD
    Stock Based Compensation213,447,000USD280,000USD2,283,324USD2,965,417USD5,001,198USD—
    Other Non Cash Items205,496,000USD-53,000USD89,189USD331,591USD-917,424USD—
    Change In Working Capital-1,464,000USD1,240,000USD-14,104USD2,722,626USD-8,806,941USD—
    Total Cash From Operating Activities-26,052,000USD-1,171,000USD-10,922,223USD-12,127,585USD-19,371,428USD—
    Capital Expenditures0USD0USD0USD0USD0USD0USD
    Free Cash Flow-26,052,000USD-1,171,000USD-10,922,223USD-12,127,585USD-19,371,428USD—
    Investments-17,626,000USD0USD————
    Total Cashflows From Investing Activities-127,634,000USD—————
    Net Borrowings-105,256,000USD-1,306,000USD-288,066USD-611,422USD800,849USD—
    Total Cash From Financing Activities158,153,000USD4,065,000USD5,907,887USD10,873,606USD25,411,919USD—
    Sale Purchase Of Stock-46,263,000USD0USD0USD-1,014,973USD0USD—
    Issuance Of Capital Stock303,762,000USD2,573,000USD5,999,488USD12,499,588USD26,666,200USD—
    Change In Cash4,467,000USD2,861,000USD-4,994,311USD-1,254,398USD6,115,964USD—
    Begin Period Cash Flow4,567,000USD1,706,000USD6,970,110USD8,224,508USD2,108,544USD—
    End Period Cash Flow9,034,000USD4,567,000USD1,975,799USD6,970,110USD8,224,508USD2,108,544USD
    Other Cashflows From Financing Activities-46,414,000USD—————
    Unclassified Investing Cash Flow-110,008,000USD—————
    Unclassified Financing Cash Flow356,086,000USD5,371,000USD6,195,953USD12,500,001USD24,611,070USD—
    Depreciation—58,277USD105,675USD109,004USD109,947USD—
    Unclassified Operating Cash Flow—3,471,723USD6,548,805USD20,470,037USD5,566,442USD—
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    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    PeriodDimensionBusiness / regionRevenueCurrencySource
    FY 2025Yearly · 2025-12-31ProductLiquid Staking Revenue5,951,000USD0001213900-26-037888
    FY 2025Yearly · 2025-12-31ProductNative Staking Revenue455,000USD0001213900-26-037888
    FY 2025Yearly · 2025-12-31ProductReward Revenue141,000USD0001213900-26-037888

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.