v3.19.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities    
Net income $ 7,147  
Adjustments to reconcile net income (used in)/from operating activities:    
Depreciation and amortization 2,034  
Loss on sale of fixed assets 30  
Change in deferred taxes (580)  
Stock compensation expense 3,498  
Unrealized loss/(gain) on trading securities 5,373  
Net change in accrued interest 322  
Net gain on derivative 0  
Allowance for receivables 1,498  
Changes in operating assets and liabilities:    
Trading securities 8,452  
Brokerage and other receivables, net (52,174)  
Loans issued 5,536  
Other assets, net (244)  
Securities sold, but not yet purchased - at fair value (1,063)  
Customer liabilities 52,745  
Current income tax liability 754  
Trade payables 23,201  
Other liabilities 1,946  
Net cash flows from/(used in) operating activities 58,475  
Cash Flows From Investing Activities    
Purchase of fixed assets (4,987)  
Proceeds from sale of fixed assets 264  
Proceeds from sale of intangible assets 0  
Proceeds from sale of available-for-sale securities, at fair value 231  
Consideration paid for Asyl Invest (2,240)  
Cash, cash equivalents and restricted cash received from acquisitions 0  
Net cash flows (used in)/from investing activities (6,732)  
Cash Flows From Financing Activities    
(Repurchase of)/proceeds from securities repurchase agreement obligations (59,663)  
Proceeds from issuance of debt securities 34,287  
Repurchase of debt securities (14,786)  
Proceeds from private placements 0  
Capital contributions 225  
Exercise of options 20  
Proceeds from loans received 5,609  
Repayment of loans received (8,015)  
Net cash flows (used in)/from financing activities (42,323)  
Effect of changes in foreign exchange rates on cash and cash equivalents (8,693)  
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 727  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 87,693  
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 88,420 $ 87,693
Supplemental disclosure of cash flow information:    
Cash paid for interest (13,323)  
Income tax paid (1,287)  
Non-cash investing and financing activities:    
Consideration for Nettrader acquisition to be settled 2,590  
Common stock issued for acquisition of Freedom UA 0  
Assets received from acquisition of Freedom UA 0  
Liabilities assumed from acquisition of Freedom UA 0  
Debt forgiveness by shareholder in Freedom CY 0  
Assets received from acquisition of Asyl Invest 0  
Liabilities assumed from Asyl Invest 0  
Assets received from acquisition of Nettrader 0  
Liabilities assumed from Nettrader 0  
(Recast)    
Cash Flows From Operating Activities    
Net income   18,197
Adjustments to reconcile net income (used in)/from operating activities:    
Depreciation and amortization   1,486
Loss on sale of fixed assets   203
Change in deferred taxes   286
Stock compensation expense   1,621
Unrealized loss/(gain) on trading securities   (16,502)
Net change in accrued interest   150
Net gain on derivative   (482)
Allowance for receivables   423
Changes in operating assets and liabilities:    
Trading securities   (110,896)
Brokerage and other receivables, net   (21,394)
Loans issued   (8,295)
Other assets, net   (3,694)
Securities sold, but not yet purchased - at fair value   1,135
Customer liabilities   11,029
Current income tax liability   (128)
Trade payables   8,759
Other liabilities   935
Net cash flows from/(used in) operating activities   (117,167)
Cash Flows From Investing Activities    
Purchase of fixed assets   (2,020)
Proceeds from sale of fixed assets   679
Proceeds from sale of intangible assets   18
Proceeds from sale of available-for-sale securities, at fair value   97
Consideration paid for Asyl Invest   0
Cash, cash equivalents and restricted cash received from acquisitions   12,004
Net cash flows (used in)/from investing activities   10,778
Cash Flows From Financing Activities    
(Repurchase of)/proceeds from securities repurchase agreement obligations   96,831
Proceeds from issuance of debt securities   12,125
Repurchase of debt securities   (3,319)
Proceeds from private placements   40,444
Capital contributions   8,594
Exercise of options   0
Proceeds from loans received   7,033
Repayment of loans received   (2)
Net cash flows (used in)/from financing activities   161,706
Effect of changes in foreign exchange rates on cash and cash equivalents   (2,989)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH   52,328
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD $ 87,693 35,365
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD   87,693
Supplemental disclosure of cash flow information:    
Cash paid for interest   (13,102)
Income tax paid   (536)
Non-cash investing and financing activities:    
Consideration for Nettrader acquisition to be settled   0
Common stock issued for acquisition of Freedom UA   1,485
Assets received from acquisition of Freedom UA   1,652
Liabilities assumed from acquisition of Freedom UA   999
Debt forgiveness by shareholder in Freedom CY   293
Assets received from acquisition of Asyl Invest   14,870
Liabilities assumed from Asyl Invest   10,287
Assets received from acquisition of Nettrader   11,158
Liabilities assumed from Nettrader   $ 4,121

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