NOTE 15 - SECURITIES SOLD, NOT YET PURCHASED - AT FAIR VALUE

As of March 31, 2021 and 2020, the Company’s securities sold, not yet purchased - at fair value was $8,592 and $0, respectively.

 
During the year ended March 31, 2021, the Company sold shares that were not owned by the Company in the amount of $8,531. During the year ended March 31, 2021, the Company recognized a loss on change in fair value of financial liabilities in the amounts of $61 in the Consolidated Statements of Operations and Statements of Other Comprehensive Income.

During the year ended March 31, 2020, the Company sold shares that were not owned by the Company and recognized financial liabilities at fair value in the amount of $3,550 and closed short positions in the amount of $4,377. During the year ended March 31, 2020, the Company recognized a loss on the change in fair value of financial liabilities at fair value in the Consolidated Statements of Operations and Statements of Other Comprehensive Income/(Loss) in the amount of $827.

A short sale involves the sale of a security that is not owned in the expectation of purchasing the same security (or a security exchangeable) at a later date at a lower price. A short sale involves the risk of a theoretically unlimited increase in the market price of the security that would result in a theoretically unlimited loss.