10-Q Filing

FREEDOM HOLDING CORP. CIK: 924805 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001654954-17-010658`
Period End Date	20170930
Filing Date	20171114
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	frhc-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 48 Cash Flow Statement 34

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.87M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	31.88M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$15.26M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	11.21M	shares	Point-in-time
Trading securities	`MarketableSecurities`	$179.02M	USD	Point-in-time
Available-for-sale securities, at fair value	`AvailableForSaleSecurities`	$2.00K	USD	Point-in-time
Brokerage and other receivables	`OtherReceivables`	$8.10M	USD	Point-in-time
Loans issued	`LoansAndLeasesReceivableNetReportedAmount`	$209.00K	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$71.00K	USD	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	$1.48M	USD	Point-in-time
Goodwill	`Goodwill`	$953.00K	USD	Point-in-time
Other assets	`OtherAssets`	$2.05M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$245.00M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	-	USD	Point-in-time
Debt securities issued	`DebtSecuritiesIssuedNet`	$7.60M	USD	Point-in-time
Customer liabilities	`CustomerLiabilities`	$14.49M	USD	Point-in-time
Current income tax liability	`TaxesPayableCurrent`	-	USD	Point-in-time
Trade payables	`TradingLiabilities`	$230.00K	USD	Point-in-time
Deferred distribution payments	`DividendsPayableCurrentAndNoncurrent`	$8.53M	USD	Point-in-time
Securities repurchase agreement obligation	`SecuritiesSoldUnderAgreementsToRepurchase`	$130.21M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesCurrent`	$230.00K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$407.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$161.70M	USD	Point-in-time
Preferred stock - $0.001 par value; 20,000,000 shares authorized, no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $0.001 par value; 500,000,000 shares authorized; 31,879,222 shares outstanding as of September 30, 2017 and 11,213,926 shares outstanding as of March 31, 2017, respectively	`CommonStockValue`	$32.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$41.71M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$52.83M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.28M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$83.30M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$245.00M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Fee and commission income	`FeeAndCommissionIncome`	$4.40M	USD	2 Qtrs
Fee and commission income	`FeeAndCommissionIncome`	$1.55M	USD	1 Quarter
Net gain on trading securities	`MarketableSecuritiesGainLoss`	$32.13M	USD	1 Quarter
Net gain on trading securities	`MarketableSecuritiesGainLoss`	$39.14M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.00M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.59M	USD	2 Qtrs
Net loss on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-670.00K	USD	1 Quarter
Net loss on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$-180.00K	USD	2 Qtrs
Net (loss)/gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-9.00K	USD	1 Quarter
Net (loss)/gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	2 Qtrs
Net gain on foreign exchange operations	`ForeignCurrencyTransactionGainLossBeforeTax`	$934.00K	USD	1 Quarter
Net gain on foreign exchange operations	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.55M	USD	2 Qtrs
TOTAL REVENUE	`Revenues`	$34.94M	USD	1 Quarter
TOTAL REVENUE	`Revenues`	$48.50M	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.02M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.01M	USD	2 Qtrs
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$675.00K	USD	2 Qtrs
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$437.00K	USD	1 Quarter
Operating expense	`OperatingExpenses`	$5.83M	USD	2 Qtrs
Operating expense	`OperatingExpenses`	$2.92M	USD	1 Quarter
Other (income)/expense, net	`OtherExpenses`	$-53.00K	USD	1 Quarter
Other (income)/expense, net	`OtherExpenses`	$26.00K	USD	2 Qtrs
TOTAL EXPENSE	`CostsAndExpenses`	$11.54M	USD	2 Qtrs
TOTAL EXPENSE	`CostsAndExpenses`	$6.32M	USD	1 Quarter
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$36.96M	USD	2 Qtrs
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$28.62M	USD	1 Quarter
Income tax (expense)/benefit	`IncomeTaxExpenseBenefit`	$1.02M	USD	1 Quarter
Income tax (expense)/benefit	`IncomeTaxExpenseBenefit`	$987.00K	USD	2 Qtrs
NET INCOME BEFORE NONCONTROLLING INTERESTS	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$35.97M	USD	2 Qtrs
NET INCOME BEFORE NONCONTROLLING INTERESTS	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$27.60M	USD	1 Quarter
Less: Net income attributable to noncontrolling interest in subsidiary	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	-	USD	1 Quarter
Less: Net income attributable to noncontrolling interest in subsidiary	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	-	USD	2 Qtrs
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$27.60M	USD	1 Quarter
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$35.97M	USD	2 Qtrs
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	1 Quarter
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	2 Qtrs
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.62M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.38M	USD	2 Qtrs
COMPREHENSIVE INCOME BEFORE NONCONTROLLING INTERESTS	`OtherComprehensiveIncomeLossNetOfTax`	$31.60M	USD	2 Qtrs
COMPREHENSIVE INCOME BEFORE NONCONTROLLING INTERESTS	`OtherComprehensiveIncomeLossNetOfTax`	$24.98M	USD	1 Quarter
Less: Comprehensive income attributable to noncontrolling interest in subsidiary	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest`	-	USD	2 Qtrs
Less: Comprehensive income attributable to noncontrolling interest in subsidiary	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	`ComprehensiveIncomeNetOfTax`	$31.60M	USD	2 Qtrs
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	`ComprehensiveIncomeNetOfTax`	$24.98M	USD	1 Quarter
BASIC AND DILUTED NET INCOME PER COMMON SHARE	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$1.22	USD	1 Quarter
BASIC AND DILUTED NET INCOME PER COMMON SHARE	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$2.12	USD	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	16.95M	shares	2 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	22.54M	shares	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$35.97M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$158.00K	USD	2 Qtrs
Change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-1.15M	USD	2 Qtrs
Unrealized gain on trading securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	$28.73M	USD	2 Qtrs
Net gain on derivative	`DerivativeGainLossOnDerivativeNet`	$490.00K	USD	2 Qtrs
Due from bank	`IncreaseDecreaseDueFromBanks`	-	USD	2 Qtrs
Trading securities	`IncreaseDecreaseInTradingSecurities`	$70.88M	USD	2 Qtrs
Brokerage and other receivables	`IncreaseDecreaseInOtherReceivables`	$7.62M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.37M	USD	2 Qtrs
Loans issued	`IncreaseDecreaseInOtherLoans`	$146.00K	USD	2 Qtrs
Customer liabilities	`IncreaseDecreaseInCustomerLiabilities`	$7.15M	USD	2 Qtrs
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$-4.00K	USD	2 Qtrs
Securities repurchase agreement obligation	`IncreaseDecreaseInPayablesUnderRepurchaseAgreements`	$75.41M	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$48.00K	USD	2 Qtrs
Current income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-145.00K	USD	2 Qtrs
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$10.50M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$718.00K	USD	2 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	2 Qtrs
Acquisition of FFIN Bank	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	2 Qtrs
Proceeds on sale of investments available-for-sale	`GainLossOnSaleOfInvestments`	-	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-710.00K	USD	2 Qtrs
Proceeds from issuance of debt securities	`ProceedsFromIssuanceOfLongTermDebt`	$10.50M	USD	2 Qtrs
Repurchase of debt securities	`RepurchaseOfDebtSecurities`	$6.61M	USD	2 Qtrs
Repayment of loans	`ProceedsFromCollectionOfLoansReceivable`	-	USD	2 Qtrs
Capital contributions	`ProceedsFromPartnershipContribution`	$8.46M	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.35M	USD	2 Qtrs
Effect of changes in foreign exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-3.46M	USD	2 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$18.68M	USD	2 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.13M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.45M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$53.13M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$34.45M	USD	Point-in-time
Income tax paid	`IncomeTaxesPaid`	$523.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$5.54M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.