Forum Markets (FRMM)
Finances real-world assets and packages their cash flows as regulated blockchain tokens.
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Acquires and finances aircraft engines and consumer-credit assets, earning lease or yield income while seeking fees and recurring economics from tokenized products. A small, partner-dependent operating model uses regulated distribution and Ethereum-based infrastructure alongside continuing ETH staking.
Acquires and finances real-world assets through aircraft-engine leasing, manufactured-home lending, and auto credit. Earns lease or yield income while assets are held, then seeks origination, structuring, management, and secondary-market economics by packaging their economic rights as tokens on Ethereum-based infrastructure.
Operates through a small internal team, special-purpose subsidiaries, and external partners: Zippy services manufactured-home loans; Karus and Automatic USA support auto credit; Liquidity.io provides regulated distribution and blockchain settlement; and Aero Engine Solutions sources and services engines. Disclosed assets and counterparties are U.S.-oriented, while token issuance uses Ethereum and alternative-trading-system infrastructure.
Retains ETH staking and aircraft rentals as reported revenue activities, while token-structuring, management, and trading revenue had not appeared in the latest periodic filing. Product expansion depends on Liquidity.io, partner relationships, Ethereum and custodian reliability, asset and borrower cash flows, and rules governing tokenized securities and related activities.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $4.1M · Total debt $26.0M · Total assets $159.0M · Shareholders' equity $127.8M
- Revenue
- $1.4M
- Operating income
- −$9.9M
- Net income
- −$12.8M
No dividends on record.
| Insiders | 41.44% | 5.47M shares | |
|---|---|---|---|
| 10 holders · as of Aug 14, 2026 | |||
| Other | 58.56% | 7.74M shares | |
| remainder | |||
13.21M company shares as of Aug 22, 2026 · holders as of their latest filing
The share count has not been confirmed by a second filing; stakes use it as it stands.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
McAndrew RudisillInsiderdirector, officer: Chief Executive Officer | 13.53% | 1.79M | filed Aug 14, 2026 |
Konstantin LomashukInsider10 percent owner | 9.29% | 1.23M | filed Jul 23, 2026 |
Brian James PembleInsider10 percent owner | 5.63% | 743,500 | filed Jul 7, 2026 |
John Tazewell SaundersInsiderofficer: Chief Financial Officer | 2.59% | 342,441 | filed Aug 14, 2026 |
Crystal Jane HeterInsiderdirector | 1.83% | 241,918 | filed Apr 3, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 21, 2026 | Konstantin Lomashuk | 10 percent owner | −250,000 | $6.00 |
| Jul 15, 2026 | Konstantin Lomashuk | 10 percent owner | −2,562 | $6.30 |
| Jul 9, 2026 | Konstantin Lomashuk | 10 percent owner | −3,387 | $6.15 |
| Jul 8, 2026 | Konstantin Lomashuk | 10 percent owner | −1,100 | $6.13 |
| Jul 7, 2026 | Konstantin Lomashuk | 10 percent owner | −3,702 | $6.41 |
- Figure
Blockchain-native credit marketplace overlaps from origination to trading.
- Securitize
Regulated tokenization rails offer an alternative to external distribution.
- FTAI
CFM56 leasing and MRE compete for airline engine-lease placements.
- Willis Lease Finance
Commercial engine leasing competes for airline lease demand and placements.
- BlackRock
ETHA offers liquid spot-ETH exposure as a substitute for staking demand.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Forum Markets | $4.91 | −0.20% | $65.0M | — | — | 6.0 | — |
| Figure | $35.94 | +1.84% | $6.44B | 46.4 | 27.0 | 9.0 | +95.2% |
| Securitize | $12.21 | −9.56% | $2.00B | — | — | 58.9 | — |
| FTAI | $189.64 | −1.61% | $19.77B | 41.9 | 21.3 | 6.4 | +40.9% |
| Willis Lease Finance | $55.47 | +1.32% | $1.16B | 24.9 | 9.3 | 1.5 | −0.8% |
| BlackRock | $1,073.96 | −1.50% | $168.99B | 26.1 | 18.0 | 6.2 | +30.6% |
| Median | 34.0 | 19.6 | 6.4 | +35.8% |