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

3. Revision of Financial Statement (Tables)

6 Months Ended

Sep. 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

Preferred stock		-			-			-
Common stock		280			(269	)		11
Additional paid in capital		776			32,488			33,264
Retained earnings		(1,209	)		18,069			16,860
Accumulated other comprehensive income		-			(6,899	)		(6,899	)
TOTAL STOCKHOLDERS’ EQUITY		(153	)		43,389			43,236

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

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

*Revenue:*
Fee and commission income	$	-		$	898	$	898
Net gain on trading securities		-			3,700		3,700
Interest income		1			248		249
Net gain on sale of fixed assets		-			28		28
Net gain on foreign exchange operations		-			344		344

TOTAL REVENUE		1			5,218		5,219

*Expense:*
Interest expense		-			782		782
Fee and commission expense		-			70		70
Operating expense		86			1,948		2,034
Other expense, net		-			79		79

TOTAL EXPENSE		86			2,879		2,965

NET (LOSS)/INCOME BEFORE INCOME TAX		(85	)		2,339		2,254

Income tax benefit		-			84		84

NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(85	)	$	2,423	$	2,338

OTHER COMPREHENSIVE INCOME
Change in unrealized gain on investments available-for-sale, net of tax effect		-			3		3
Foreign currency translation adjustments, net of tax		-			434		434

COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(85	)	$	2,860	$	2,775

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

*Revenue:*
Fee and commission income	$	-		$	1,393	$	1,393
Net gain on trading securities		-			3,419		3,419
Interest income		2			984		986
Net gain on sale of fixed assets		-			28		28
Net gain on foreign exchange operations		-			434		434

TOTAL REVENUE		2			6,258		6,260

*Expense:*
Interest expense		-			1,352		1,352
Fee and commission expense		-			134		134
Operating expense		338			3,753		4,091
Other expense, net		-			127		127

TOTAL EXPENSE		338			5,366		5,704

NET (LOSS)/INCOME BEFORE INCOME TAX		(336	)		892		556

Income tax benefit		-			547		547

NET (LOSS)/INCOME BEFORE NONCONTROLLING INTERESTS	$	(336	)	$	1,439	$	1,103

Less: Net income attributable to noncontrolling interest in subsidiary		-			7		7
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS		(336	)		1,432		1,096

OTHER COMPREHENSIVE INCOME
Change in unrealized gain on investments available-for-sale, net of tax effect		-			6		6
Foreign currency translation adjustments, net of tax		-			1,481		1,481

COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(336	)	$	2,919	$	2,583