Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Dec. 31, 2022
Restricted Cash [Abstract]  
Restricted cash for the periods ended December 31, 2022, and March 31, 2022, consisted of:
December 31, 2022
March 31, 2022
Brokerage customers’ cash $ 355,294  $ 531,032 
Guaranty deposits 100,463  5,540 
Deferred distribution payments 156  8,534 
Restricted bank accounts —  2,844 
Allowance for restricted cash (5,934) — 
Total restricted cash $ 449,979  $ 547,950 

As of December 31, 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 March 31, 2022, restricted cash included a deferred distribution payment amount of $8,534, representing cash held for distribution to shareholders who have not yet claimed their distributions from the 2011 sale of the Company’s legacy oil and gas exploration and production operations which is the subject of the Estate of Toleush Tolmakov litigation. As a result of disputes between a shareholder’s putative heirs, no party has yet established legal and beneficial ownership of the distribution payment. The Company did not claim an ownership interest in the distribution payment. During the three months ended December 31, 2022, $8,378 of this amount was deposited with the court registry in accordance with a court order and was written off by the Company. Interest on such amount in the amount of $156 continues to be recorded as restricted cash. For additional information regarding this matter see Part II, Item 1 Legal Proceedings of this quarterly report on Form 10-Q.