Annual report pursuant to Section 13 and 15(d)

7. Brokerage and Other Receivables, Net

v3.8.0.1
7. Brokerage and Other Receivables, Net
 12 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Brokerage and Other Receivables, Net
   

 March 31,

2018

    

March 31,

2017 (Recast)

  
Margin lending receivables   $ 14,753     $ -  
Receivable from purchase or sale of securities     4,905       -  
Bank commissions receivable     1,016       260  
Receivables from brokerage clients     659       208  
Bonds coupon receivable     119       -  
Receivable for underwriting market-making services     72       68  
Other receivables     8       10  
                 
Allowance for receivables     (423 )     (65 )
                 
Total brokerage and other receivables, net   $ 21,109     $ 481  

 

On March 31, 2018 and March 31, 2017, amounts due from a single related party customer were $6,564 or 31% and $304 or 63%, respectively. Based on experience, the Company considers receivables due from related parties fully collectible. During the year ended March 31, 2018 and 2017, using historical and statistical data, the Company recorded an allowance expense for brokerage receivables in the amount of $358 and $65, respectively.