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

3. Revision of Financial Statement (Tables)

9 Months Ended

Dec. 31, 2017

	March 31, 2017
BALANCE SHEETS (RECAST)	As previously reported			Recast			As recasted

ASSETS
Cash and cash equivalents	$	51		$	22,565		$	22,616
Restricted cash		8,534			4,215			12,749
Trading securities		-			81,575			81,575
Available-for-sale securities, at fair value		-			2			2
Brokerage and other receivables		-			514			514
Loans issued		-			65			65
Deferred tax assets		-			1,026			1,026
Fixed assets		2			1,094			1,096
Goodwill		-			981			981
Other assets		-			739			739
TOTAL ASSETS	$	8,587		$	112,776		$	121,363

LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)

Derivative liability	$	-		$	495		$	495
Debt securities issued		-			3,459			3,459
Customer liabilities		-			7,635			7,635
Current income tax liability		-			149			149
Trade payables		206			339			545
Deferred distribution payments		8,534			-			8,534
Securities repurchase agreement obligation		-			56,289			56,289
Other liabilities		-			370			370
TOTAL LIABILITIES		8,740			68,736			77,476

STOCKHOLDERS’ EQUITY/(DEFICIT)

Preferred Stock		-			-			-
Common stock		280			(269	)		11
Additional paid in capital		776			33,883			34,659
Retained earnings/Accumulated deficit		(1,209	)		17,363			16,154
Accumulated other comprehensive income		-			(6,937	)		(6,937	)
TOTAL STOCKHOLDERS’ EQUITY/(DEFICIT)		(153	)		44,040			43,887

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)	$	8,587		$	112,776		$	121,363

	For the three months ended December 31, 2016
STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME/(LOSS) (RECAST)	As previously reported			Recast			As recasted

*Revenue:*
Fee and commission income	$	-		$	1,116		$	1,116
Net gain on trading securities		-			1,164			1,164
Interest income, net		1			723			724
Net loss on foreign exchange operations		-			(138	)		(138	)

TOTAL REVENUE		1			2,865			2,866

*Expense:*
Interest expense		-			1,120			1,120
Fee and commission expense		-			129			129
Operating expense		100			2,361			2,461
Other expense, net		-			141			141

TOTAL EXPENSE		100			3,751			3,851

NET LOSS BEFORE INCOME TAX		(99	)		(886	)		(985	)

Income tax benefit		-			413			413

NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(99	)	$	(473	)	$	(572	)

OTHER COMPREHENSIVE INCOME
Change in unrealized gain on investments available-for-sale, net of tax effect		-			(276	)		(276	)
Foreign currency translation adjustments, net of tax		-			453			453
COMPREHENSIVE LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(99	)	$	(296	)	$	(395	)

	For the nine months ended December 31, 2016
STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME/(LOSS) (RECAST)	As previously reported			Recast			As recasted

*Revenue:*
Fee and commission income	$	-		$	2,462		$	2,462
Interest income		3			1,707			1,710
Net gain on trading securities		-			4,583			4,583
Net gain on sale of fixed assets		-			28			28
Net gain on foreign exchange operations		-			296			296

TOTAL REVENUE		3			9,076			9,079

*Expense:*
Interest expense		-			2,472			2,472
Fee and commission expense		-			216			216
Operating expense		438			6,256			6,694
Other expense, net		-			267			267

TOTAL EXPENSE		438			9,211			9,649

NET LOSS BEFORE INCOME TAX		(435	)		(135	)		(570	)

Income tax benefit		-			960			960

NET (LOSS)/INCOME BEFORE NONCONTROLLING INTERESTS	$	(435	)	$	825		$	390

Less: Net income attributable to noncontrolling interest in subsidiary		-			7			7
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS		(435	)		818			383

OTHER COMPREHENSIVE INCOME
Change in unrealized gain on investments available-for-sale, net of tax effect		-			(270	)		(270	)
Foreign currency translation adjustments, net of tax		-			1,933			1,933

COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS		(435	)		2,488			2,053

Less: Comprehensive income attributable to noncontrolling interest in subsidiary		-			7			7

COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	$	(435	)	$	2,481		$	2,046