Freedom Holding Corp. Quarterly report pursuant to Section 13 or 15(d)

3. Revision of Financial Statement (Tables)

3 Months Ended

Jun. 30, 2017

	March 31, 2017
BALANCE SHEETS (RECAST)	As previously reported			Revision			As revised

ASSETS

Cash and cash equivalents	$	51		$	21,780		$	21,831
Restricted cash		8,534			4,085			12,619
Trading securities		-			81,575			81,575
Available-for-sale securities, at fair value		-			2			2
Brokerage and other receivables		-			481			481
Other assets		-			691			691
Deferred tax assets		-			1,026			1,026
Fixed assets		2			1,039			1,041
Goodwill		-			981			981
Loans issued		-			65			65

TOTAL ASSETS	$	8,587		$	111,725		$	120,312

LIABILITIES AND STOCKHOLDERS’ EQUITY

Derivative liability	$	-		$	495		$	495
Debt securities issued		-			3,459			3,459
Customer liabilities		-			7,543			7,543
Current income tax liability		-			149			149
Trade payables		206			29			235
Deferred distribution payments		8,534			-			8,534
Securities repurchase agreement obligation		-			56,289			56,289
Other liabilities		-			372			372
TOTAL LIABILITIES		8,740			68,336			77,076

STOCKHOLDERS’ EQUITY

Common stock		280			210			490
Preferred stock		-			-			-
Additional paid in capital		776			32,009			32,785
Retained earnings		(1,209	)		18,069			16,860
Accumulated other comprehensive income		-			(6,899	)		(6,899	)
TOTAL EQUITY		(153	)		43,389			43,236

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	8,587		$	111,725		$	120,312

	For the three months ended June 30, 2016
STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (RECAST)	As previously reported			Revision			As reported

*Revenue:*
Fee and commission income	$	-		$	495		$	495
Interest income		1			736			737
Net loss on trading securities		-			(281	)		(281	)
Net gain on foreign exchange operations		-			90			90

TOTAL REVENUE		1			1,040			1,041

*Expense:*
Interest expense		-			570			570
Fee and commission expense		-			64			64
Operating expense		251			1,806			2,057
Other expense, net		-			48			48

TOTAL EXPENSE		251			2,488			2,739

NET LOSS BEFORE INCOME TAX		(250	)		(1,448	)		(1,698	)

Income tax benefit		-			463			463

NET INCOME/(LOSS) BEFORE NONCONTROLING INTERESTS	$	(250	)	$	(985	)	$	(1,235	)

Less: Net income attributable to non-controlling interest in subsidiary		-			7			7
NET INCOME/ (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS		(250	)		(992	)		(1,242	)

OTHER COMPREHENSIVE INCOME/ (LOSS)
Change in unrealized gain on investments available-for-sale, net of tax effect	$	-		$	3		$	3
Foreign currency translation adjustments, net of tax		-			1,038			1,038

COMPREHENSIVE INCOME/ (LOSS) BEFORE NONCONTOLING INTEREST	$	(250	)	$	49		$	(201	)

Less: Comprehensive income attributable to non-controlling interest in subsidiary		-			7			7

COMPREHENSIVE INCOME/ (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS		(250	)		42			(208	)