Quarterly report pursuant to Section 13 or 15(d)

RESTRICTED CASH

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RESTRICTED CASH
 3 Months Ended
Sep. 30, 2022
Restricted Cash [Abstract]  
Restricted cash RESTRICTED CASH
Restricted cash for the periods ended September 30, 2022, and March 31, 2022, consisted of:
 
September 30, 2022
March 31, 2022
  (Recasted)
Brokerage customers’ cash $ 428,540  $ 531,032 
Deferred distribution payments 8,534  8,534 
Guaranty deposits 2,956  5,540 
Restricted bank accounts —  2,844 
Total restricted cash $ 440,030  $ 547,950 

As of September 30, 2022, and March 31, 2022, the Company’s restricted cash included the cash portion of the funds segregated in a special custody account for the exclusive benefit of its brokerage customers. As of September 30, 2022, and March 31, 2022, the deposited funds of $8,534 are qualified for FDIC insurance in the amount of $250.

Restricted cash also included a deferred distribution payment amount, which is a cash held for distribution to shareholders who have not yet claimed their distributions from the 2011 sale of the Company’s oil and gas exploration and production operations of $8,534. This distribution is currently payable, subject to the entitled shareholders completing and submitting to the Company the necessary documentation to claim his, her or its distribution payments. The Company has no control over when, or if, an entitled shareholder will submit the necessary documentation to claim their distribution payment. The deferred distribution payment amount was held in cash at September 30, 2022, and March 31, 2022. A Company shareholder entitled to a portion of the distribution amount died before claiming the distribution. As a result of disputes between the individual’s putative heirs, no party has yet established legal and beneficial ownership of the distribution payment. The Company does not claim an ownership interest in the distribution payment. For additional information regarding this matter see Part II, Item 1 Legal Proceedings of this quarterly report on Form 10-Q.