Freedom Holding Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

3. CASH AND CASH EQUIVALENTS

3. CASH AND CASH EQUIVALENTS	12 Months Ended
Mar. 31, 2016
Notes to Financial Statements
CASH AND CASH EQUIVALENTS	As of March 31, 2016 and 2015, the cash balance totaled $8,633,244 and $402,718, respectively. The Company is exposed to concentrations of credit risk related to cash deposits. The Company maintains cash at a financial institution where the total cash balance is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to its limit. At any given time, the Company’s cash balance may exceed the balance insured by the FDIC. As of March 31, 2016 and 2015, $8,332,244 and $152,718, respectively, of the Company’s cash was in excess of FDIC limits. As of March 31, 2016, the cash balance included restricted cash in the amount of $8,533,566, which corresponds to the deferred distribution payments liability.

3. CASH AND CASH EQUIVALENTS

12 Months Ended

Mar. 31, 2016

As of March 31, 2016 and 2015, the cash balance totaled $8,633,244 and $402,718, respectively.

The Company is exposed to concentrations of credit risk related to cash deposits. The Company maintains cash at a financial institution where the total cash balance is insured by the Federal Deposit Insurance Corporation (“FDIC”) up to its limit. At any given time, the Company’s cash balance may exceed the balance insured by the FDIC. As of March 31, 2016 and 2015, $8,332,244 and $152,718, respectively, of the Company’s cash was in excess of FDIC limits.

As of March 31, 2016, the cash balance included restricted cash in the amount of $8,533,566, which corresponds to the deferred distribution payments liability.

- Definition

The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.

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