10-K Filing

FREEDOM HOLDING CORP. CIK: 924805 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001654954-18-007180`
Period End Date	20180331
Filing Date	20180629
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	frhc-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 49 Income Statement 29 Cash Flow Statement 45 Stockholders Equity 21

Balance Sheet 49 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
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$64.53M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	58.03M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	11.21M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$13.67M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	58.03M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	11.21M	shares	Point-in-time
Trading securities	`MarketableSecurities`	$212.32M	USD	Point-in-time
Available-for-sale securities, at fair value	`AvailableForSaleSecurities`	$2.00K	USD	Point-in-time
Brokerage and other receivables, net	`OtherReceivables`	$21.11M	USD	Point-in-time
Loans issued	`LoansAndLeasesReceivableNetReportedAmount`	$8.75M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.05M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$2.36M	USD	Point-in-time
Goodwill	`Goodwill`	$1.80M	USD	Point-in-time
Other assets, net	`OtherAssets`	$4.49M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$330.09M	USD	Point-in-time
Securities sold, not yet purchased - at fair value	`FinancialInstrumentsSoldNotYetPurchasedMortgagesMortgageBackedAndAssetBackedSecurities`	$1.14M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	-	USD	Point-in-time
Loans received	`LoansReceivedCurrent`	$7.14M	USD	Point-in-time
Debt securities issued	`DebtSecuritiesIssuedNet`	$10.84M	USD	Point-in-time
Customer liabilities	`CustomerLiabilities`	$21.86M	USD	Point-in-time
Current income tax liability	`TaxesPayableCurrent`	-	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$9.00M	USD	Point-in-time
Deferred distribution payments	`DividendsPayableCurrentAndNoncurrent`	$8.53M	USD	Point-in-time
Securities repurchase agreement obligation	`SecuritiesSoldUnderAgreementsToRepurchase`	$154.78M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesCurrent`	$387.00K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$1.32M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$214.99M	USD	Point-in-time
Commitments and Contingencies (Note 29)	`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; 58,033,212 and 11,213,926 shares issued and outstanding as of March 31, 2018 and 2017, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$87.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.39M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.39M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$43.89M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$25.41M	USD	Point-in-time
TOTAL STOCKHOLDERS EQUITY	`StockholdersEquity`	$115.10M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$330.09M	USD	Point-in-time

Income Statement 29 line items

Line Item	Tag	Value	Unit	Period
Fee and commission income	`FeeAndCommissionIncome`	$10.80M	USD	Annual
Net gain on trading securities	`MarketableSecuritiesGainLoss`	$33.75M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$8.18M	USD	Annual
Net gain on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$643.00K	USD	Annual
Net realized gain on investments available for sale	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	Annual
Net gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$5.00K	USD	Annual
Net gain on foreign exchange operations	`ForeignCurrencyTransactionGainBeforeTax`	$1.85M	USD	Annual
TOTAL REVENUE, NET	`Revenues`	$55.22M	USD	Annual
Interest expense	`InterestExpense`	$14.24M	USD	Annual
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$2.07M	USD	Annual
Operating expense	`OperatingExpenses`	$18.93M	USD	Annual
Other expense, net	`OtherExpenses`	$275.00K	USD	Annual
TOTAL EXPENSE	`CostsAndExpenses`	$35.51M	USD	Annual
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$19.71M	USD	Annual
Income tax (expense)/benefit	`IncomeTaxExpenseBenefit`	$479.00K	USD	Annual
NET INCOME BEFORE NONCONTROLLING INTERESTS	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$19.23M	USD	Annual
NET INCOME BEFORE NONCONTROLLING INTERESTS	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$6.30M	USD	Annual
Less: Net income attributable to noncontrolling interest in subsidiary	`IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity`	-	USD	Annual
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$19.23M	USD	Annual
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	Annual
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	`OtherComprehensiveIncomeReclassificationAdjustmentRelatingToAvailableForSaleInvestmentsDisposedOfInPeriodNetOfTaxEffect`	-	USD	Annual
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-457.00K	USD	Annual
COMPREHENSIVE INCOME BEFORE NONCONTROLLING INTERESTS	`OtherComprehensiveIncomeLossNetOfTax`	$18.78M	USD	Annual
Less: Comprehensive income attributable to noncontrolling interest in subsidiary	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest`	-	USD	Annual
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS	`ComprehensiveIncomeNetOfTax`	$18.78M	USD	Annual
BASIC NET INCOME PER COMMON SHARE	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.58	USD	Annual
DILUTED NET INCOME PER COMMON SHARE	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.58	USD	Annual
Weighted average number of shares (basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	33.25M	shares	Annual
Weighted average number of shares (diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.39M	shares	Annual

Cash Flow Statement 45 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$19.23M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$233.00K	USD	Annual
Gain on sale of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	Annual
Change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-347.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$1.62M	USD	Annual
Unrealized gain on trading securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	$16.43M	USD	Annual
Net change in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$16.00K	USD	Annual
Net gain on derivative	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Derivative liability	`IncreaseDecreaseInDerivativeLiabilities`	$-482.00K	USD	Annual
Trading securities	`IncreaseDecreaseInTradingSecurities`	$113.44M	USD	Annual
Brokerage and other receivables, net	`IncreaseDecreaseInOtherReceivables`	$19.67M	USD	Annual
Loans issued	`IncreaseDecreaseInOtherLoans`	$8.63M	USD	Annual
Other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$3.67M	USD	Annual
Securities sold, but not yet purchased at fair value	`IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased`	$1.14M	USD	Annual
Customer liabilities	`IncreaseDecreaseInCustomerLiabilities`	$13.22M	USD	Annual
Current income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-145.00K	USD	Annual
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$8.76M	USD	Annual
Securities repurchase agreement obligation	`IncreaseDecreaseInPayablesUnderRepurchaseAgreements`	$97.76M	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$946.00K	USD	Annual
Net cash flows (used)/from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-19.19M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.98M	USD	Annual
Acquisition of Freedom UA, net of cash received	`CashAcquiredFromAcquisition`	$432.00K	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$679.00K	USD	Annual
Acquisition of FFIN Bank	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	Annual
Proceeds on sale of investments available-for-sale	`GainLossOnSaleOfInvestments`	-	USD	Annual
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-869.00K	USD	Annual
Proceeds from issuance of debt securities	`ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet`	$11.93M	USD	Annual
Repurchase of debt securities	`RepurchaseOfDebtSecurities`	$3.32M	USD	Annual
Proceeds from private placements	`ProceedsFromIssuanceOfPrivatePlacement`	$40.44M	USD	Annual
Capital contributions	`ProceedsFromPartnershipContribution`	$8.59M	USD	Annual
Proceeds from loans received	`ProceedsFromCollectionOfLoansReceivable`	$7.13M	USD	Annual
Repayment of loans received	`RepaymentsOfOtherDebt`	$2.00K	USD	Annual
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$64.78M	USD	Annual
Effect of changes in foreign exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.88M	USD	Annual
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$42.84M	USD	Annual
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.20M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.37M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.20M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$35.37M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$13.10M	USD	Annual
Income tax paid	`IncomeTaxesPaid`	$536.00K	USD	Annual
Common stock issued for acquisition of Freedom UA	`StockIssuedDuringPeriodAcquisitions`	$1.49M	USD	Annual
Assets received from acquisition of Freedom UA	`AssetsReceivedFromAcquisition`	$1.65M	USD	Annual
Liabilities assumed from acquisition of Freedom UA	`LiabilitiesAssumedFromAcquisition`	$999.00K	USD	Annual
Debt forgiveness by shareholder in Freedom CY	`GainsLossesOnExtinguishmentOfDebt`	$293.00K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$43.89M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$25.41M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$115.10M	USD	Point-in-time
Capital contributions	`AdjustmentsToAdditionalPaidInCapitalCapitalContributions`	$8.59M	USD	Annual
Capital contributions	`AdjustmentsToAdditionalPaidInCapitalCapitalContributions`	$10.72M	USD	Annual
Issuance of shares of common stock in the private placement, amount	`StockIssuedDuringPeriodValueNewIssues`	$40.44M	USD	Annual
Acquisition of FFIN Bank	`StockIssuedDuringPeriodValueAcquisitions4`	$-2.77M	USD	Annual
Acquisition of Freedom RU, amount	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Acquisition of Freedom UA, amount	`StockIssuedDuringPeriodValueAcquisitions2`	$1.49M	USD	Annual
Acquisition of Freedom CY, amount	`StockIssuedDuringPeriodValueAcquisitions3`	-	USD	Annual
Stock based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$1.62M	USD	Annual
Debt forgiveness by shareholder	`AdjustmentsToAdditionalPaidInCapitalDebtForgiveness`	$293.00K	USD	Annual
Fractional shares from reverse stock split, amount	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Translation difference	`ForeignCurrencyTransactionGainLossBeforeTax`	$4.50M	USD	Annual
Translation difference	`ForeignCurrencyTransactionGainLossBeforeTax`	$-457.00K	USD	Annual
Available-for-sale securities revaluation	`AvailableForSaleSecuritiesRevaluation`	$-269.00K	USD	Annual
Net income	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$19.23M	USD	Annual
Net income	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$6.30M	USD	Annual
Beginning balance, amount	`StockholdersEquity`	$43.89M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$25.41M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$115.10M	USD	Point-in-time

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