10-Q Filing

FREEDOM HOLDING CORP. CIK: 924805 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-001536`
Period End Date	20171231
Filing Date	20180214
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	frhc-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 37 Income Statement 48 Cash Flow Statement 39

Balance Sheet 37 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.85M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCash`	$14.14M	USD	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
Trading securities	`MarketableSecurities`	$199.21M	USD	Point-in-time
Available-for-sale securities, at fair value	`AvailableForSaleSecurities`	$2.00K	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Brokerage and other receivables	`OtherReceivables`	$2.92M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Loans issued	`LoansAndLeasesReceivableNetReportedAmount`	$250.00K	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	52.61M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$325.00K	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	52.61M	shares	Point-in-time
Fixed assets	`PropertyPlantAndEquipmentNet`	$2.03M	USD	Point-in-time
Goodwill	`Goodwill`	$896.00K	USD	Point-in-time
Goodwill	`Goodwill`	$1.86M	USD	Point-in-time
Other assets	`OtherAssets`	$3.27M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$258.85M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	-	USD	Point-in-time
Debt securities issued	`DebtSecuritiesIssuedNet`	$10.62M	USD	Point-in-time
Customer liabilities	`CustomerLiabilities`	$13.91M	USD	Point-in-time
Current income tax liability	`TaxesPayableCurrent`	-	USD	Point-in-time
Trade payables	`TradingLiabilities`	$2.22M	USD	Point-in-time
Deferred distribution payments	`DividendsPayableCurrentAndNoncurrent`	$8.53M	USD	Point-in-time
Securities repurchase agreement obligation	`SecuritiesSoldUnderAgreementsToRepurchase`	$137.44M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$599.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$173.32M	USD	Point-in-time
Commitments and Contingencies (Note 17)	`CommitmentsAndContingencies`	-	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; 52,606,600 shares outstanding as of December 31, 2017 and 11,213,926 shares outstanding as of March 31, 2017, respectively	`CommonStockValue`	$52.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$56.53M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$38.68M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.75M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$85.52M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$258.85M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Fee and commission income	`FeeAndCommissionIncome`	$6.41M	USD	3 Qtrs
Fee and commission income	`FeeAndCommissionIncome`	$2.00M	USD	1 Quarter
Net gain/(loss) on trading securities	`MarketableSecuritiesGainLoss`	$30.82M	USD	3 Qtrs
Net gain/(loss) on trading securities	`MarketableSecuritiesGainLoss`	$-8.32M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$6.44M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$2.85M	USD	1 Quarter
Net gain on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$867.00K	USD	1 Quarter
Net gain on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$687.00K	USD	3 Qtrs
Net gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$16.00K	USD	1 Quarter
Net gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$8.00K	USD	3 Qtrs
Net gain/(loss) on foreign exchange operations	`ForeignCurrencyTransactionGainLossBeforeTax`	$424.00K	USD	1 Quarter
Net gain/(loss) on foreign exchange operations	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.96M	USD	3 Qtrs
TOTAL REVENUE, NET	`Revenues`	$-2.16M	USD	1 Quarter
TOTAL REVENUE, NET	`Revenues`	$46.33M	USD	3 Qtrs
Interest expense	`InterestExpense`	$4.49M	USD	1 Quarter
Interest expense	`InterestExpense`	$9.50M	USD	3 Qtrs
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$795.00K	USD	1 Quarter
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$1.47M	USD	3 Qtrs
Operating expense	`OperatingExpenses`	$12.11M	USD	3 Qtrs
Operating expense	`OperatingExpenses`	$5.98M	USD	1 Quarter
Other expense, net	`OtherExpenses`	$131.00K	USD	3 Qtrs
Other expense, net	`OtherExpenses`	$105.00K	USD	1 Quarter
TOTAL EXPENSE	`CostsAndExpenses`	$11.37M	USD	1 Quarter
TOTAL EXPENSE	`CostsAndExpenses`	$23.22M	USD	3 Qtrs
NET INCOME/(LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$23.11M	USD	3 Qtrs
NET INCOME/(LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-13.53M	USD	1 Quarter
Income tax (expense)/benefit	`IncomeTaxExpenseBenefit`	$-403.00K	USD	1 Quarter
Income tax (expense)/benefit	`IncomeTaxExpenseBenefit`	$584.00K	USD	3 Qtrs
Net Income/(Loss) Before Noncontrolling Interests	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$-13.13M	USD	1 Quarter
Net Income/(Loss) Before Noncontrolling Interests	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$22.53M	USD	3 Qtrs
Less: Net income attributable to noncontrolling interest in subsidiary	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	-	USD	1 Quarter
Less: Net income attributable to noncontrolling interest in subsidiary	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	-	USD	3 Qtrs
Net Income/(Loss) Attributable to Common Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-13.13M	USD	1 Quarter
Net Income/(Loss) Attributable to Common Shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$22.53M	USD	3 Qtrs
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	3 Qtrs
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.53M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-2.81M	USD	3 Qtrs
Comprehensive Income/(Loss) Before Noncontrolling Interests	`OtherComprehensiveIncomeLossNetOfTax`	$-11.60M	USD	1 Quarter
Comprehensive Income/(Loss) Before Noncontrolling Interests	`OtherComprehensiveIncomeLossNetOfTax`	$19.72M	USD	3 Qtrs
Less: Comprehensive income attributable to noncontrolling interest in subsidiary	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest`	-	USD	3 Qtrs
Less: Comprehensive income attributable to noncontrolling interest in subsidiary	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Comprehensive Income/(Loss) Attributable to Common Shareholders	`ComprehensiveIncomeNetOfTax`	$-11.60M	USD	1 Quarter
Comprehensive Income/(Loss) Attributable to Common Shareholders	`ComprehensiveIncomeNetOfTax`	$19.72M	USD	3 Qtrs
BASIC AND DILUTED NET INCOME/(LOSS) PER COMMON SHARE (In US Dollars)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$0.86	USD	3 Qtrs
BASIC AND DILUTED NET INCOME/(LOSS) PER COMMON SHARE (In US Dollars)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.29	USD	1 Quarter
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.34M	shares	3 Qtrs
Weighted average shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	45.02M	shares	1 Quarter

Cash Flow Statement 39 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$22.53M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$198.00K	USD	3 Qtrs
Change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-672.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$792.00K	USD	3 Qtrs
Unrealized gain on trading securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	$19.54M	USD	3 Qtrs
Net gain on derivative	`DerivativeGainLossOnDerivativeNet`	$490.00K	USD	3 Qtrs
Trading securities	`IncreaseDecreaseInTradingSecurities`	$105.26M	USD	3 Qtrs
Brokerage and other receivables	`IncreaseDecreaseInOtherReceivables`	$2.16M	USD	3 Qtrs
Loans issued	`IncreaseDecreaseInOtherLoans`	$185.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$2.53M	USD	3 Qtrs
Customer liabilities	`IncreaseDecreaseInCustomerLiabilities`	$6.21M	USD	3 Qtrs
Current income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-144.00K	USD	3 Qtrs
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$1.38M	USD	3 Qtrs
Securities repurchase agreement obligation	`IncreaseDecreaseInPayablesUnderRepurchaseAgreements`	$85.81M	USD	3 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$602.00K	USD	3 Qtrs
Net cash flows used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-12.11M	USD	3 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.12M	USD	3 Qtrs
Acquisition of Freedom UA, net of cash received	`PaymentsToAcquireBusinessesAndInterestInAffiliates1`	$-432.00K	USD	3 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	3 Qtrs
Acquisition of FFIN Bank	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	3 Qtrs
Proceeds on sale of investments available-for-sale	`GainLossOnSaleOfInvestments`	-	USD	3 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-685.00K	USD	3 Qtrs
Proceeds from issuance of debt securities	`ProceedsFromIssuanceOfLongTermDebt`	$9.85M	USD	3 Qtrs
Repurchase of debt securities	`RepurchaseOfDebtSecurities`	$2.45M	USD	3 Qtrs
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from private placement	`ProceedsFromIssuanceOfPrivatePlacement`	$11.04M	USD	3 Qtrs
Capital contributions	`ProceedsFromPartnershipContribution`	$8.59M	USD	3 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$27.04M	USD	3 Qtrs
Effect of changes in foreign exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-630.00K	USD	3 Qtrs
NET CHANGE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.62M	USD	3 Qtrs
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.98M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.37M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.98M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$8.47M	USD	3 Qtrs
Income tax paid	`IncomeTaxesPaid`	$583.00K	USD	3 Qtrs
Common stock issued for acquisition of Freedom UA	`StockIssuedDuringPeriodValueAcquisitions`	$1.49M	USD	3 Qtrs
Assets received from acquisition of Freedom UA	`AssetsReceivedFromAcquisitionOfFreedomUA`	$1.23M	USD	3 Qtrs
Liabilities assumed from acquisition of Freedom UA	`LiabilitiesAssumedFromAcquisitionOfFreedomUA`	$176.00K	USD	3 Qtrs

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