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

Quarterly report pursuant to Section 13 or 15(d)

6. DISCONTINUED OPERATIONS AND SALE OF EMIR OIL (Details Narrative)

6. DISCONTINUED OPERATIONS AND SALE OF EMIR OIL (Details Narrative) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Jun. 30, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deposit of escrow	$ 36
Additional cash amount	39
Emir Oil Member
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale of Emir Oil	170
Purchase adjustments	10.4
Deposit of escrow	36
Cash amounts Total	39
Additional cash amount	3
Escrow as restricted cash, as a current asset	$ 36

- Definition

For the disposal group, including a component of the entity (discontinued operation), cash includes currency on hand as well as demand deposits with banks or financial institutions. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months.

+ References + Details