Annual report pursuant to Section 13 and 15(d)

3. Revision of Financial Statement (Details)

v3.8.0.1
3. Revision of Financial Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2016
 [1]
ASSETS      
Cash and cash equivalents $ 64,531    
Restricted cash 13,671    
Trading securities 212,319    
Available-for-sale securities, at fair value 2    
Brokerage and other receivables, net 21,109    
Loans issued 8,754    
Deferred tax assets 1,046    
Fixed assets, net 2,362    
Goodwill 1,798    
Other assets, net 4,494    
TOTAL ASSETS 330,086    
LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)      
Derivative liability 0    
Loans received 7,143    
Debt securities issued 10,840    
Customer liabilities 21,855    
Current income tax liability 0    
Trade payables 8,998    
Deferred distribution payments 8,534    
Securities repurchase agreement obligation 154,775    
Other liabilities 1,319    
TOTAL LIABILITIES 214,986    
STOCKHOLDERS’ EQUITY/(DEFICIT)      
Preferred stock 0    
Common stock 58    
Additional paid in capital 87,049    
Retained earnings/(Accumulated deficit) 35,387    
Accumulated other comprehensive loss (7,394)    
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT) 115,100 $ 43,887 [1] $ 25,411
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 330,086    
Revenue:      
Fee and commission income 10,796    
Net gain on trading securities 33,746    
Interest income 8,184    
Net gain on derivatives 643    
Net realized gain on investments available for sale 0    
Net gain on sale of fixed assets 5    
Net gain on foreign exchange operations (457) 4,498 [1]  
TOTAL REVENUE, NET 55,224    
Expense:      
Interest expense 14,244    
Fee and commission expense 2,066    
Operating expense 18,927    
Other expense, net 275    
TOTAL EXPENSE 35,512    
NET INCOME/(LOSS) BEFORE INCOME TAX 19,712    
Income tax (expense)/benefit (479)    
NET INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS 19,233 6,296 [1]  
Less: Net income attributable to noncontrolling interest in subsidiary 0    
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS 19,233    
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect 0    
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 0    
Foreign currency translation adjustments, net of tax (457)    
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS 18,776    
Less: Comprehensive income attributable to noncontrolling interest in subsidiary 0    
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 18,776    
As Previously Reported      
ASSETS      
Cash and cash equivalents   51  
Restricted cash   8,534  
Trading securities   0  
Available-for-sale securities, at fair value   0  
Brokerage and other receivables, net   0  
Loans issued   0  
Deferred tax assets   0  
Fixed assets, net   2  
Goodwill   0  
Other assets, net   0  
TOTAL ASSETS   8,587  
LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)      
Derivative liability   0  
Loans received   0  
Debt securities issued   0  
Customer liabilities   0  
Current income tax liability   0  
Trade payables   206  
Deferred distribution payments   8,534  
Securities repurchase agreement obligation   0  
Other liabilities   0  
TOTAL LIABILITIES   8,740  
STOCKHOLDERS’ EQUITY/(DEFICIT)      
Preferred stock   0  
Common stock   280  
Additional paid in capital   776  
Retained earnings/(Accumulated deficit)   (1,209)  
Accumulated other comprehensive loss   0  
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT)   (153)  
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   8,587  
Revenue:      
Fee and commission income   0  
Net gain on trading securities   0  
Interest income   4  
Net gain on derivatives   0  
Net realized gain on investments available for sale   0  
Net gain on sale of fixed assets   0  
Net gain on foreign exchange operations   0  
TOTAL REVENUE, NET   4  
Expense:      
Interest expense   0  
Fee and commission expense   0  
Operating expense   582  
Other expense, net   0  
TOTAL EXPENSE   582  
NET INCOME/(LOSS) BEFORE INCOME TAX   (578)  
Income tax (expense)/benefit   0  
NET INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS   (578)  
Less: Net income attributable to noncontrolling interest in subsidiary   0  
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS   (578)  
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect   0  
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect   0  
Foreign currency translation adjustments, net of tax   0  
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS   (578)  
Less: Comprehensive income attributable to noncontrolling interest in subsidiary   0  
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS   (578)  
Revision      
ASSETS      
Cash and cash equivalents   22,565  
Restricted cash   4,215  
Trading securities   81,575  
Available-for-sale securities, at fair value   2  
Brokerage and other receivables, net   481  
Loans issued   65  
Deferred tax assets   1,026  
Fixed assets, net   1,094  
Goodwill   981  
Other assets, net   772  
TOTAL ASSETS   112,776  
LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)      
Derivative liability   495  
Loans received   2  
Debt securities issued   3,459  
Customer liabilities   7,635  
Current income tax liability   149  
Trade payables   334  
Deferred distribution payments   0  
Securities repurchase agreement obligation   56,289  
Other liabilities   373  
TOTAL LIABILITIES   68,736  
STOCKHOLDERS’ EQUITY/(DEFICIT)      
Preferred stock   0  
Common stock   (269)  
Additional paid in capital   33,883  
Retained earnings/(Accumulated deficit)   17,363  
Accumulated other comprehensive loss   (6,937)  
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT)   44,040  
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   112,776  
Revenue:      
Fee and commission income   4,090  
Net gain on trading securities   10,806  
Interest income   2,002  
Net gain on derivatives   1,905  
Net realized gain on investments available for sale   276  
Net gain on sale of fixed assets   29  
Net gain on foreign exchange operations   274  
TOTAL REVENUE, NET   19,382  
Expense:      
Interest expense   3,807  
Fee and commission expense   346  
Operating expense   8,669  
Other expense, net   210  
TOTAL EXPENSE   13,032  
NET INCOME/(LOSS) BEFORE INCOME TAX   6,350  
Income tax (expense)/benefit   524  
NET INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS   6,874  
Less: Net income attributable to noncontrolling interest in subsidiary   9  
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS   6,865  
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect   7  
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect   (276)  
Foreign currency translation adjustments, net of tax   4,465  
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS   11,070  
Less: Comprehensive income attributable to noncontrolling interest in subsidiary   9  
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS   11,061  
(Recast)      
ASSETS      
Cash and cash equivalents [1]   22,616  
Restricted cash [1]   12,749  
Trading securities [1]   81,575  
Available-for-sale securities, at fair value [1]   2  
Brokerage and other receivables, net [1]   481  
Loans issued [1]   65  
Deferred tax assets [1]   1,026  
Fixed assets, net [1]   1,096  
Goodwill [1]   981  
Other assets, net [1]   772  
TOTAL ASSETS [1]   121,363  
LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)      
Derivative liability [1]   495  
Loans received [1]   2  
Debt securities issued [1]   3,459  
Customer liabilities [1]   7,635  
Current income tax liability [1]   149  
Trade payables [1]   540  
Deferred distribution payments [1]   8,534  
Securities repurchase agreement obligation [1]   56,289  
Other liabilities [1]   373  
TOTAL LIABILITIES [1]   77,476  
STOCKHOLDERS’ EQUITY/(DEFICIT)      
Preferred stock [1]   0  
Common stock [1]   11  
Additional paid in capital [1]   34,659  
Retained earnings/(Accumulated deficit) [1]   16,154  
Accumulated other comprehensive loss [1]   (6,937)  
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT) [1]   43,887  
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY [1]   121,363  
Revenue:      
Fee and commission income [1]   4,090  
Net gain on trading securities [1]   10,806  
Interest income [1]   2,006  
Net gain on derivatives [1]   1,905  
Net realized gain on investments available for sale   276  
Net gain on sale of fixed assets [1]   29  
Net gain on foreign exchange operations [1]   274  
TOTAL REVENUE, NET [1]   19,386  
Expense:      
Interest expense [1]   3,807  
Fee and commission expense [1]   346  
Operating expense [1]   9,251  
Other expense, net [1]   210  
TOTAL EXPENSE [1]   13,614  
NET INCOME/(LOSS) BEFORE INCOME TAX [1]   5,772  
Income tax (expense)/benefit [1]   524  
NET INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS [1]   6,296  
Less: Net income attributable to noncontrolling interest in subsidiary [1]   9  
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS [1]   6,287  
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect [1]   7  
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect [1]   (276)  
Foreign currency translation adjustments, net of tax   4,465  
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS [1]   10,492  
Less: Comprehensive income attributable to noncontrolling interest in subsidiary [1]   9  
COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS [1]   $ 10,483  
[1] See Notes 1 and 3 for information regarding recast amounts and basis of financial statement presentation.