Forum Markets Incorporated (FRMM) Investor presentation summary

Business model and strategy

• Focuses on tokenizing institutional-grade real-world assets (RWAs) on Ethereum L2 to modernize capital markets and generate differentiated cash flow.

• Acquires yield-generating assets, tokenizes them, and reinvests proceeds into new assets, creating a compounding flywheel.

• Targets four major markets: auto loans, mortgages, heavy equipment, and real estate, with a multi-hundred-billion-dollar annual TAM.

• Tokenization services and partnerships unlock access to high-value DeFi opportunities and integrations.

• Maintains a conservative ETH asset management plan and strong cash position to support growth.

Technology and partnerships

• Exclusive rights to list Ethereum L2 tokens on Liquidity.io, a regulated exchange with FINRA-licensed broker/dealer oversight.

• Liquidity.io provides compliant primary and secondary market liquidity for tokenized RWAs, with KYC/KYB and workflow automation.

• Strategic investments in Zippy (manufactured home loans) and Karus (AI-driven auto loan underwriting) expand tokenizable asset classes.

• All tokenized products settle on Ethereum L2, reinforcing an Ethereum-first infrastructure.

Financial performance and outlook

• Raised $425M in August 2025 PIPE, repositioned as an RWA tokenization platform, and exited direct ETH price exposure.

• Current cash position of $103M, with capital redeployed into yield-generating assets like aircraft engines, auto loans, and manufactured home loans.

• Targets $125M–$200M AUM by end of 2026 and $300M–$400M by end of 2027, with 2026 revenue projected at $18M–$26M and 50–100% revenue growth in 2027.

• Aims for a 10% average yield on AUM, with cashflow from tokenized assets expected to drive equity value.