Quarterly report pursuant to Section 13 or 15(d)

RESTRICTED CASH

v3.20.4
RESTRICTED CASH
9 Months Ended
Dec. 31, 2020
RESTRICTED CASH  
NOTE 4 - RESTRICTED CASH

NOTE 4 – RESTRICTED CASH

 

Restricted cash for the periods ended December 31, 2020 and March 31, 2020, consisted of:

 

 

 

December 31,

2020

 

 

March 31,

2020

 

 

 

 

 

 

 

 

Brokerage customers’ cash

 

$

357,154

 

 

$ 63,506

 

Deferred distribution payments

 

 

8,534

 

 

 

2,097

 

Reserve with Central Bank of Russia

 

 

1,726

 

 

 

476

 

Guaranty deposits

 

 

930

 

 

 

518

 

Total restricted cash

 

$ 368,344

 

 

$ 66,597

 

 

As of December 31, 2020, and March 31, 2020, the Company’s restricted cash included the cash portion of the funds segregated in a special custody account for the exclusive benefit of our brokerage customers and required reserves with the Central Bank of the Russian Federation which represents cash on hand balance requirements and deferred distribution payments. The deferred distribution payment amount is a reserve held for distribution to stockholders who have not yet claimed their distributions from the 2011 sale of the Company’s oil and gas exploration and production operations of $8,534. This distribution is currently payable, subject to the entitled stockholders completing and submitting to the Company the necessary documentation to claim his, her or its distribution payments. The Company has no control over when, or if, an entitled stockholder will submit the necessary documentation to claim their distribution payment. The entire deferred distribution payment amount was held in cash at December 31, 2020. At March 31, 2020, $6,437 of the deferred distribution payment amount was held in available-for-sale securities including debt securities, certificates of deposit, mutual funds and preferred shares, and $2,097 was held in cash.