Quarterly report pursuant to Section 13 or 15(d)

BROKERAGE AND OTHER RECEIVABLES, NET

v3.20.2
BROKERAGE AND OTHER RECEIVABLES, NET
 6 Months Ended
Sep. 30, 2020
BROKERAGE AND OTHER RECEIVABLES, NET  
NOTE 7 - BROKERAGE AND OTHER RECEIVABLES, NET

NOTE 7 - BROKERAGE AND OTHER RECEIVABLES, NET

 

Brokerage and other receivables for the periods ended September 30, 2020 and March 31, 2020 consisted of:

 

 

 

 

September 30,

2020

 

 

March 31,

2020

 

 

 

 

 

 

 

 

Margin lending receivables

 

 $ 155,642

 

 

 $ 107,770

 

Receivables from brokerage clients

 

 

 2,595

 

 

 

 4,396

 

Receivable for underwriting and market-making services

 

 

 646

 

 

 

 67

 

Receivable from sale of securities

 

 

 468

 

 

 

 1,498

 

Bank commissions receivable

 

 

 62

 

 

 

 218

 

Other receivables

 

 

 44

 

 

 

 50

 

Bonds coupon receivable

 

 

 41

 

 

 

 -

 

Dividends receivable

 

 

 1

 

 

 

 1

 

 

 

 

 

 

 

 

 

 

Allowance for receivables

 

 

 (1,798 )

 

 

 (313 )

Total brokerage and other receivables, net

 

 $ 157,701

 

 

 $ 113,687

 

On September 30, 2020 and March 31, 2020, amounts due from a single related party customer were $81,795 or 52% and $90,696 or 80%, respectively. Based on experience, the Company considers receivables due from related parties fully collectible. As of September 30, 2020 and March 31, 2020, using historical and statistical data, the Company recorded an allowance for brokerage receivables in the amount of $1,798 and $313, respectively.