Quarterly report pursuant to Section 13 or 15(d)

3. Revision of Financial Statement (Details)

v3.8.0.1
3. Revision of Financial Statement (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Nov. 01, 2017
Mar. 31, 2017
ASSETS            
Cash and cash equivalents $ 34,847   $ 34,847      
Restricted cash 14,138   14,138      
Trading securities 199,207   199,207      
Available-for-sale securities, at fair value 2   2      
Brokerage and other receivables 2,922   2,922      
Loans issued 250   250      
Deferred tax assets 325   325      
Fixed assets 2,028   2,028      
Goodwill 1,856   1,856   $ 896  
Other assets 3,271   3,271      
TOTAL ASSETS 258,846   258,846      
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Derivative liability 0   0      
Debt securities issued 10,625   10,625      
Customer liabilities 13,911   13,911      
Current income tax liability 0   0      
Trade payables 2,218   2,218      
Deferred distribution payments 8,534   8,534      
Securities repurchase agreement obligation 137,436   137,436      
Other liabilities 599   599      
TOTAL LIABILITIES 173,323   173,323      
STOCKHOLDERS’ EQUITY/(DEFICIT)            
Preferred stock 0   0      
Common stock 52   52      
Additional paid in capital 56,533   56,533      
Retained earnings/Accumulated deficit 38,684   38,684      
Accumulated other comprehensive income (9,746)   (9,746)      
Stockholders' Equity/(Deficit) 85,523   85,523      
Total Liabilities and Stockholders' Equity/(Deficit) 258,846   258,846      
Revenue:            
Fee and commission income 1,999   6,412      
Net gain (loss) on trading securities (8,318)   30,825      
Interest income 2,853   6,442      
Net gain on sale of fixed assets 16   8      
Net gain on foreign exchange operations 424   1,957      
TOTAL REVENUE, NET (2,159)   46,331      
Expense:            
Interest expense 4,487   9,499      
Fee and commission expense 795   1,474      
Operating expense 5,983   12,113      
Other expense, net 105   131      
TOTAL EXPENSE 11,370   23,217      
NET LOSS BEFORE INCOME TAX (13,529)   23,114      
Income tax benefit 403   (584)      
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS (13,126)   22,530      
Less: Net income attributable to noncontrolling interest in subsidiary 0   0      
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS (13,126)   22,530      
OTHER COMPREHENSIVE INCOME            
Change in unrealized gain on investments available-for-sale, net of tax effect 0   0      
Foreign currency translation adjustments, net of tax 1,529   (2,809)      
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS (11,597)   19,721      
Less: Comprehensive income attributable to noncontrolling interest in subsidiary $ 0   $ 0      
As Previously Reported            
ASSETS            
Cash and cash equivalents           $ 51
Restricted cash           8,534
Trading securities           0
Available-for-sale securities, at fair value           0
Brokerage and other receivables           0
Loans issued           0
Deferred tax assets           0
Fixed assets           2
Goodwill           0
Other assets           0
TOTAL ASSETS           8,587
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Derivative liability           0
Debt securities issued           0
Customer liabilities           0
Current income tax liability           0
Trade payables           206
Deferred distribution payments           8,534
Securities repurchase agreement obligation           0
Other liabilities           0
TOTAL LIABILITIES           8,740
STOCKHOLDERS’ EQUITY/(DEFICIT)            
Preferred stock           0
Common stock           280
Additional paid in capital           776
Retained earnings/Accumulated deficit           (1,209)
Accumulated other comprehensive income           0
Stockholders' Equity/(Deficit)           (153)
Total Liabilities and Stockholders' Equity/(Deficit)           8,587
Revenue:            
Fee and commission income   $ 0   $ 0    
Net gain (loss) on trading securities   0   0    
Interest income   1   3    
Net gain on sale of fixed assets       0    
Net gain on foreign exchange operations   0   0    
TOTAL REVENUE, NET   1   3    
Expense:            
Interest expense   0   0    
Fee and commission expense   0   0    
Operating expense   100   438    
Other expense, net   0   0    
TOTAL EXPENSE   100   438    
NET LOSS BEFORE INCOME TAX   (99)   (435)    
Income tax benefit   0   0    
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS       (435)    
Less: Net income attributable to noncontrolling interest in subsidiary       0    
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS   (99)   (435)    
OTHER COMPREHENSIVE INCOME            
Change in unrealized gain on investments available-for-sale, net of tax effect   0   0    
Foreign currency translation adjustments, net of tax   0   0    
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS       (435)    
Less: Comprehensive income attributable to noncontrolling interest in subsidiary       0    
COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   (99)   (435)    
Revision            
ASSETS            
Cash and cash equivalents           22,565
Restricted cash           4,215
Trading securities           81,575
Available-for-sale securities, at fair value           2
Brokerage and other receivables           514
Loans issued           65
Deferred tax assets           1,026
Fixed assets           1,094
Goodwill           981
Other assets           739
TOTAL ASSETS           112,776
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Derivative liability           495
Debt securities issued           3,459
Customer liabilities           7,635
Current income tax liability           149
Trade payables           339
Deferred distribution payments           0
Securities repurchase agreement obligation           56,289
Other liabilities           370
TOTAL LIABILITIES           68,736
STOCKHOLDERS’ EQUITY/(DEFICIT)            
Preferred stock           0
Common stock           (269)
Additional paid in capital           33,883
Retained earnings/Accumulated deficit           17,363
Accumulated other comprehensive income           (6,937)
Stockholders' Equity/(Deficit)           44,040
Total Liabilities and Stockholders' Equity/(Deficit)           112,776
Revenue:            
Fee and commission income   1,116   2,462    
Net gain (loss) on trading securities   1,164   4,583    
Interest income   723   1,707    
Net gain on sale of fixed assets       28    
Net gain on foreign exchange operations   (138)   296    
TOTAL REVENUE, NET   2,865   9,076    
Expense:            
Interest expense   1,120   2,472    
Fee and commission expense   129   216    
Operating expense   2,361   6,256    
Other expense, net   141   267    
TOTAL EXPENSE   3,751   9,211    
NET LOSS BEFORE INCOME TAX   (886)   (135)    
Income tax benefit   413   960    
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS       825    
Less: Net income attributable to noncontrolling interest in subsidiary       7    
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS   (473)   818    
OTHER COMPREHENSIVE INCOME            
Change in unrealized gain on investments available-for-sale, net of tax effect   (276)   (270)    
Foreign currency translation adjustments, net of tax   453   1,933    
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS       2,488    
Less: Comprehensive income attributable to noncontrolling interest in subsidiary       7    
COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS   (296)   2,481    
(Recast)            
ASSETS            
Cash and cash equivalents [1]           22,616
Restricted cash [1]           12,749
Trading securities [1]           81,575
Available-for-sale securities, at fair value [1]           2
Brokerage and other receivables [1]           514
Loans issued [1]           65
Deferred tax assets [1]           1,026
Fixed assets [1]           1,096
Goodwill [1]           981
Other assets [1]           739
TOTAL ASSETS [1]           121,363
LIABILITIES AND STOCKHOLDERS’ EQUITY            
Derivative liability [1]           495
Debt securities issued [1]           3,459
Customer liabilities [1]           7,635
Current income tax liability [1]           149
Trade payables [1]           545
Deferred distribution payments [1]           8,534
Securities repurchase agreement obligation [1]           56,289
Other liabilities [1]           370
TOTAL LIABILITIES [1]           77,476
STOCKHOLDERS’ EQUITY/(DEFICIT)            
Preferred stock [1]           0
Common stock [1]           11
Additional paid in capital [1]           34,659
Retained earnings/Accumulated deficit [1]           16,154
Accumulated other comprehensive income [1]           (6,937)
Stockholders' Equity/(Deficit) [1]           43,887
Total Liabilities and Stockholders' Equity/(Deficit) [1]           $ 121,363
Revenue:            
Fee and commission income [1]   1,116   2,462    
Net gain (loss) on trading securities [1]   1,164   4,583    
Interest income [1]   724   1,710    
Net gain on sale of fixed assets [1]   0   28    
Net gain on foreign exchange operations [1]   (138)   296    
TOTAL REVENUE, NET [1]   2,866   9,079    
Expense:            
Interest expense [1]   1,120   2,472    
Fee and commission expense [1]   129   216    
Operating expense [1]   2,461   6,694    
Other expense, net [1]   141   267    
TOTAL EXPENSE [1]   3,851   9,649    
NET LOSS BEFORE INCOME TAX [1]   (985)   (570)    
Income tax benefit [1]   413   960    
NET (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS [1]   (572)   390    
Less: Net income attributable to noncontrolling interest in subsidiary [1]   0   7    
NET INCOME/(LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS [1]   (572)   383    
OTHER COMPREHENSIVE INCOME            
Change in unrealized gain on investments available-for-sale, net of tax effect [1]   (276)   (270)    
Foreign currency translation adjustments, net of tax [1]   453   1,933    
COMPREHENSIVE INCOME/(LOSS) BEFORE NONCONTROLLING INTERESTS [1]   (395)   2,053    
Less: Comprehensive income attributable to noncontrolling interest in subsidiary [1]   0   7    
COMPREHENSIVE (LOSS)/INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS [1]   $ (395)   $ 2,046    
[1] See Notes 1 and 3 for information regarding recast amounts and basis of financial statement presentation.