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

Revision of Financial Statement (Tables)

3 Months Ended

Jun. 30, 2018

	As of March 31, 2018
BALANCE SHEETS (RECAST)	As previously reported			Recast			As recasted

ASSETS
Cash and cash equivalents	$	64,531		$	1,200		$	65,731
Restricted cash		13,671			8,291			21,962
Trading securities		212,319			276			212,595
Available-for-sale securities, at fair value		2			238			240
Brokerage and other receivables, net		21,109			3,745			24,854
Loans issued		8,754			-			8,754
Deferred tax assets		1,046			(274	)		772
Fixed assets, net		2,362			209			2,571
Intangible assets, net		-			5,531			5,531
Goodwill		1,798			1,490			3,288
Other assets, net		4,494			79			4,573
TOTAL ASSETS	$	330,086		$	20,785		$	350,871

LIABILITIES AND STOCKHOLDERS’ EQUITY

Securities sold, not yet purchased - at fair value	$	1,135		$	-		$	1,135
Loans received		7,143			-			7,143
Debt securities issued		10,840			382			11,222
Customer liabilities		21,855			8,817			30,672
Trade payables		8,998			15			9,013
Deferred distribution payments		8,534			-			8,534
Securities repurchase agreement obligation		154,775			-			154,775
Deferred income tax liabilities		387			(387	)		-
Other liabilities		1,319			57			1,376
TOTAL LIABILITIES		214,986			8,884			223,870

STOCKHOLDERS’ EQUITY

Preferred stock		-			-			-
Common stock		58			-			58
Additional paid in capital		87,049			13,131			100,180
Retained earnings		35,387			(1,067	)		34,320
Accumulated other comprehensive loss		(7,394	)		(163	)		(7,557	)
TOTAL STOCKHOLDERS’ EQUITY		115,100			11,901			127,001

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	330,086		$	20,785		$	350,871

	For the three months ended June 30, 2017
STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (RECAST)	As previously reported			Recast			As recasted

*Revenue:*
Fee and commission income	$	2,855		$	202		$	3,057
Net gain on trading securities		7,009			122			7,131
Interest income		2,584			63			2,647
Net gain on derivatives		490			-			490
Net gain on foreign exchange operations		617			42			659

TOTAL REVENUE, NET		13,555			429			13,984

*Expense:*
Interest expense		1,987			43			2,030
Fee and commission expense		238			51			289
Operating expense		2,911			752			3,663
Other expense, net		78			(33	)		45

TOTAL EXPENSE		5,214			813			6,027

NET INCOME BEFORE INCOME TAX		8,341			(384	)		7,957

Income tax benefit		31			2			33

NET INCOME	$	8,372		$	(382	)	$	7,990

OTHER COMPREHENSIVE INCOME
Change in unrealized gain on investments available-for-sale, net of tax effect	$	-		$	(59	)	$	(59	)
Foreign currency translation adjustments, net of tax		(1,758	)		(411	)		(2,169	)

COMPREHENSIVE INCOME	$	6,614		$	(852	)	$	5,762