10-Q Filing

FREEDOM HOLDING CORP. CIK: 924805 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-012588`
Period End Date	20180930
Filing Date	20181114
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	frhc-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 39 Income Statement 46 Cash Flow Statement 41

Balance Sheet 39 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$39.81M	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
Restricted cash	`RestrictedCash`	$29.56M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trading securities	`MarketableSecurities`	$148.41M	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, net	`BrokerageAndOtherReceivablesNet`	$80.20M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Loans issued	`LoansAndLeasesReceivableNetReportedAmount`	$2.80M	USD	Point-in-time
Loans issued	`LoansAndLeasesReceivableNetReportedAmount`	$8.75M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	58.03M	shares	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$843.00K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$4.03M	USD	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	58.03M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.31M	USD	Point-in-time
Goodwill	`Goodwill`	$2.98M	USD	Point-in-time
Other assets, net	`OtherAssets`	$4.22M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$317.15M	USD	Point-in-time
Securities sold, not yet purchased - at fair value	`FinancialInstrumentsSoldNotYetPurchasedMortgagesMortgageBackedAndAssetBackedSecurities`	$630.00K	USD	Point-in-time
Loans received	`LoansReceivedCurrent`	$3.60M	USD	Point-in-time
Debt securities issued	`DebtSecuritiesIssuedNet`	$23.55M	USD	Point-in-time
Customer liabilities	`CustomerLiabilities`	$69.84M	USD	Point-in-time
Trade payables	`TradingLiabilities`	$21.08M	USD	Point-in-time
Deferred distribution payments	`DividendsPayableCurrentAndNoncurrent`	$8.53M	USD	Point-in-time
Securities repurchase agreement obligation	`SecuritiesSoldUnderAgreementsToRepurchase`	$77.58M	USD	Point-in-time
Current income tax liability	`TaxesPayableCurrent`	$607.00K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$1.86M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$207.29M	USD	Point-in-time
Commitments and Contingencies (Note 20)	`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 58,033,212 shares issued and outstanding as of September 30, 2018 and March 31, 2018, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$99.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$29.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.77M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$109.86M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$317.15M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Fee and commission income	`FeeAndCommissionIncome`	$12.79M	USD	1 Quarter
Fee and commission income	`FeeAndCommissionIncome`	$18.76M	USD	2 Qtrs
Net gain on trading securities	`MarketableSecuritiesGainLoss`	$4.32M	USD	1 Quarter
Net gain on trading securities	`MarketableSecuritiesGainLoss`	$1.03M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$8.85M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.47M	USD	1 Quarter
Net (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	1 Quarter
Net (loss) on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	2 Qtrs
Net gain/(loss) on foreign exchange operations	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.14M	USD	1 Quarter
Net gain/(loss) on foreign exchange operations	`ForeignCurrencyTransactionGainLossBeforeTax`	$-3.25M	USD	2 Qtrs
TOTAL REVENUE, NET	`Revenues`	$17.44M	USD	1 Quarter
TOTAL REVENUE, NET	`Revenues`	$25.39M	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.68M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.29M	USD	2 Qtrs
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$968.00K	USD	1 Quarter
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$1.73M	USD	2 Qtrs
Operating expense	`OperatingExpenses`	$10.04M	USD	1 Quarter
Operating expense	`OperatingExpenses`	$19.16M	USD	2 Qtrs
Other expense/(income), net	`OtherExpenses`	$405.00K	USD	1 Quarter
Other expense/(income), net	`OtherExpenses`	$351.00K	USD	2 Qtrs
Loss from disposal of subsidiary	`GainLossOnSaleOfShareInSubsidiary`	$-15.00K	USD	2 Qtrs
Loss from disposal of subsidiary	`GainLossOnSaleOfShareInSubsidiary`	$-15.00K	USD	1 Quarter
TOTAL EXPENSE	`CostsAndExpenses`	$15.11M	USD	1 Quarter
TOTAL EXPENSE	`CostsAndExpenses`	$29.55M	USD	2 Qtrs
NET INCOME/(LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$2.33M	USD	1 Quarter
NET INCOME/(LOSS) BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$-4.16M	USD	2 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$614.00K	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$464.00K	USD	2 Qtrs
NET INCOME/(LOSS)	`NetIncomeLoss`	$-4.62M	USD	2 Qtrs
NET INCOME/(LOSS)	`NetIncomeLoss`	$1.72M	USD	1 Quarter
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	2 Qtrs
Change in unrealized gain on investments available-for-sale, net of tax effect	`OtherComprehensiveIncomeChangeInUnrealizedGainOnInvestmentsAvailableForSaleNetOfTaxEffect`	-	USD	1 Quarter
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	`OtherComprehensiveIncomeReclassificationAdjustmentRelatingToAvailableForSaleInvestmentsDisposedOfInPeriodNetOfTaxEffect`	-	USD	1 Quarter
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	`OtherComprehensiveIncomeReclassificationAdjustmentRelatingToAvailableForSaleInvestmentsDisposedOfInPeriodNetOfTaxEffect`	$22.00K	USD	2 Qtrs
Foreign currency translation adjustments, net of tax effect	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.52M	USD	1 Quarter
Foreign currency translation adjustments, net of tax effect	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-12.24M	USD	2 Qtrs
COMPREHENSIVE INCOME/(LOSS)	`ComprehensiveIncomeNetOfTax`	$-16.84M	USD	2 Qtrs
COMPREHENSIVE INCOME/(LOSS)	`ComprehensiveIncomeNetOfTax`	$-3.81M	USD	1 Quarter
BASIC NET INCOME/(LOSS) PER COMMON SHARE (In US Dollars)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
BASIC NET INCOME/(LOSS) PER COMMON SHARE (In US Dollars)	`EarningsPerShareBasic`	$-0.08	USD	2 Qtrs
DILUTED NET INCOME/(LOSS) PER COMMON SHARE (In US Dollars)	`EarningsPerShareDiluted`	$-0.08	USD	2 Qtrs
DILUTED NET INCOME/(LOSS) PER COMMON SHARE (In US Dollars)	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Weighted average number of shares (basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	58.03M	shares	1 Quarter
Weighted average number of shares (basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	58.03M	shares	2 Qtrs
Weighted average number of shares (diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.21M	shares	1 Quarter
Weighted average number of shares (diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.21M	shares	2 Qtrs

Cash Flow Statement 41 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$-4.62M	USD	2 Qtrs
Net income/(loss)	`NetIncomeLoss`	$1.72M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$819.00K	USD	2 Qtrs
Gain on sale of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-32.00K	USD	2 Qtrs
Change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$173.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.69M	USD	2 Qtrs
Unrealized loss/(gain) on trading securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	$-16.02M	USD	2 Qtrs
Net gain on derivative	`DerivativeGainLossOnDerivativeNet`	-	USD	2 Qtrs
Net change in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$134.00K	USD	2 Qtrs
Trading securities	`IncreaseDecreaseInTradingSecurities`	$-24.38M	USD	2 Qtrs
Brokerage and other receivables	`IncreaseDecreaseInOtherReceivables`	$53.93M	USD	2 Qtrs
Loans issued	`IncreaseDecreaseInOtherLoans`	$-5.38M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$218.00K	USD	2 Qtrs
Customer liabilities	`IncreaseDecreaseInCustomerLiabilities`	$41.28M	USD	2 Qtrs
Current income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$607.00K	USD	2 Qtrs
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$12.24M	USD	2 Qtrs
Securities repurchase agreement obligation	`IncreaseDecreaseInSecuritiesRepurchaseAgreementObligation`	$-61.11M	USD	2 Qtrs
Securities sold, not yet purchased	`IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased`	$-419.00K	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$667.00K	USD	2 Qtrs
Net cash flows (used in)/from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-17.22M	USD	2 Qtrs
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.30M	USD	2 Qtrs
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$283.00K	USD	2 Qtrs
Proceeds from sale of intangible assets	`ProceedsFromSaleOfIntangibleAssets`	-	USD	2 Qtrs
Proceeds from sale/(purchase) of available-for-sale securities, at fair value	`GainLossOnSaleOfInvestments`	$-241.00K	USD	2 Qtrs
Consideration paid for Asyl	`PaymentsToAcquireBusinessesGross`	$2.24M	USD	2 Qtrs
Cash received at acquisitions	`CashAcquiredFromAcquisition`	-	USD	2 Qtrs
Net cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-4.01M	USD	2 Qtrs
Proceeds from issuance of debt securities	`ProceedsFromIssuanceOfLongTermDebt`	$17.08M	USD	2 Qtrs
Repurchase of debt securities	`RepurchaseOfDebtSecurities`	$2.79M	USD	2 Qtrs
Proceeds from loans received	`ProceedsFromCollectionOfLoansReceivable`	$5.30M	USD	2 Qtrs
Repayment of loans	`RepaymentsOfLongTermDebt`	$8.35M	USD	2 Qtrs
Capital contributions	`ProceedsFromPartnershipContribution`	$225.00K	USD	2 Qtrs
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$11.45M	USD	2 Qtrs
Effect of changes in foreign exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.54M	USD	2 Qtrs
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.32M	USD	2 Qtrs
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$87.69M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$69.37M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$87.69M	USD	Point-in-time
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$69.37M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$7.74M	USD	2 Qtrs
Income tax paid	`IncomeTaxesPaid`	$416.00K	USD	2 Qtrs

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