10-K Filing

FREEDOM HOLDING CORP. CIK: 924805 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001654954-19-007343`
Period End Date	20190331
Filing Date	20190614
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	frhc-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 41 Income Statement 24 Cash Flow Statement 52 Stockholders Equity 25

Balance Sheet 41 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.96M	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	20.00M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$38.46M	USD	Point-in-time
Preferred stock, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Trading securities	`MarketableSecurities`	$167.95M	USD	Point-in-time
Preferred stock, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Available-for-sale securities, at fair value	`AvailableForSaleSecurities`	$2.00K	USD	Point-in-time
Brokerage and other receivables, net	`BrokerageAndOtherReceivables`	$73.84M	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
Loans issued	`LoansReceivableNetReportedAmount`	$2.52M	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$1.26M	USD	Point-in-time
Common stock, issued shares	`CommonStockSharesIssued`	58.04M	shares	Point-in-time
Common stock, outstanding shares	`CommonStockSharesOutstanding`	58.04M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$5.56M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$4.23M	USD	Point-in-time
Goodwill	`Goodwill`	$3.29M	USD	Point-in-time
Goodwill	`Goodwill`	$2.94M	USD	Point-in-time
Other assets, net	`OtherAssets`	$4.19M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$350.91M	USD	Point-in-time
Securities sold, not yet purchased - at fair value	`FinancialInstrumentsSoldNotYetPurchasedAndAssetBackedSecurities`	-	USD	Point-in-time
Loans received	`LoansReceivedCurrent`	$4.01M	USD	Point-in-time
Debt securities issued	`DebtSecuritiesIssuedNet`	$28.54M	USD	Point-in-time
Customer liabilities	`CustomerLiabilities`	$82.03M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$32.70M	USD	Point-in-time
Deferred distribution payments	`DeferredDistributionPayments`	$8.53M	USD	Point-in-time
Securities repurchase agreement obligations	`SecuritiesSoldUnderAgreementsToRepurchase`	$73.62M	USD	Point-in-time
Current income tax liability	`TaxesPayableCurrent`	$754.00K	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$3.13M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$233.31M	USD	Point-in-time
Commitments and Contingencies (Note 28)	`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; 58,043,212 and 58,033,212 shares issued and outstanding as of March 31, 2019 and 2018, respectively	`CommonStockValue`	$58.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$99.09M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$41.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.05M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$117.60M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$43.89M	USD	Point-in-time
TOTAL STOCKHOLDERS' EQUITY	`StockholdersEquity`	$127.03M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$350.91M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Fee and commission income	`FeeAndCommissionIncome`	$44.32M	USD	Annual
Net gain on trading securities	`MarketableSecuritiesGainLoss`	$20.16M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$13.93M	USD	Annual
Net gain on derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	-	USD	Annual
Net (loss)/gain on foreign exchange operations	`ForeignCurrencyTransactionGainBeforeTax`	$-4.12M	USD	Annual
TOTAL REVENUE, NET	`Revenues`	$74.28M	USD	Annual
Interest expense	`InterestExpense`	$14.65M	USD	Annual
Fee and commission expense	`NoninterestExpenseCommissionExpense`	$6.24M	USD	Annual
Operating expense	`OperatingExpenses`	$43.13M	USD	Annual
Provision for impairment losses	`ProvisionForImpairmentLosses`	$1.50M	USD	Annual
Other expense/(income), net	`OtherExpenses`	$236.00K	USD	Annual
Loss from disposal of subsidiary	`GainOrLossOnSaleOfStockInSubsidiary`	$-15.00K	USD	Annual
TOTAL EXPENSE	`CostsAndExpenses`	$65.77M	USD	Annual
NET INCOME BEFORE INCOME TAX	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic`	$8.52M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$1.37M	USD	Annual
NET INCOME	`NetIncomeLoss`	$7.15M	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`	$22.00K	USD	Annual
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-15.52M	USD	Annual
COMPREHENSIVE INCOME/(LOSS)	`ComprehensiveIncomeNetOfTax`	$-8.35M	USD	Annual
BASIC NET INCOME PER COMMON SHARE	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.12	USD	Annual
DILUTED NET INCOME PER COMMON SHARE	`IncomeLossFromContinuingOperationsPerDilutedShare`	$0.12	USD	Annual
Weighted average number of shares (basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	58.04M	shares	Annual
Weighted average number of shares (diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	58.24M	shares	Annual

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.15M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$2.03M	USD	Annual
Loss on sale of fixed assets	`GainLossOnDispositionOfAssets`	$-30.00K	USD	Annual
Change in deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$580.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$3.50M	USD	Annual
Unrealized loss/(gain) on trading securities	`MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments`	$-5.37M	USD	Annual
Net change in accrued interest	`IncreaseDecreaseInInterestPayableNet`	$322.00K	USD	Annual
Net gain on derivative	`DerivativeGainLossOnDerivativeNet`	-	USD	Annual
Allowance for receivables	`ProvisionForDoubtfulAccounts`	$1.50M	USD	Annual
Trading securities	`IncreaseDecreaseInTradingSecurities`	$-8.45M	USD	Annual
Brokerage and other receivables, net	`IncreaseDecreaseInOtherReceivables`	$52.17M	USD	Annual
Loans issued	`IncreaseDecreaseInOtherLoans`	$-5.54M	USD	Annual
Other assets, net	`IncreaseDecreaseInOtherOperatingAssets`	$244.00K	USD	Annual
Securities sold, but not yet purchased - at fair value	`IncreaseDecreaseInFinancialInstrumentsSoldNotYetPurchased`	$-1.06M	USD	Annual
Customer liabilities	`IncreaseDecreaseInCustomerLiabilities`	$52.74M	USD	Annual
Current income tax liability	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$754.00K	USD	Annual
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$23.20M	USD	Annual
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.95M	USD	Annual
Net cash flows from/(used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$58.48M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.99M	USD	Annual
Proceeds from sale of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$264.00K	USD	Annual
Proceeds from sale of intangible assets	`ProceedsFromSaleOfIntangibleAssets`	-	USD	Annual
Proceeds from sale of available-for-sale securities, at fair value	`GainLossOnSaleOfInvestments`	$-231.00K	USD	Annual
Consideration paid for Asyl Invest	`BusinessCombinationConsiderationTransferred1`	$2.24M	USD	Annual
Cash, cash equivalents and restricted cash received from acquisitions	`CashAndCashEquivalentsPeriodFromAcquisitions`	-	USD	Annual
Net cash flows (used in)/from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-6.73M	USD	Annual
(Repurchase of)/proceeds from securities repurchase agreement obligations	`ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase`	$-59.66M	USD	Annual
Proceeds from issuance of debt securities	`ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet`	$34.29M	USD	Annual
Repurchase of debt securities	`RepurchaseOfDebtSecurities`	$14.79M	USD	Annual
Proceeds from private placements	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	Annual
Capital contributions	`ProceedsFromPartnershipContribution`	$225.00K	USD	Annual
Exercise of options	`ProceedsFromStockOptionsExercised`	$20.00K	USD	Annual
Proceeds from loans received	`ProceedsFromCollectionOfLoansReceivable`	$5.61M	USD	Annual
Repayment of loans received	`RepaymentsOfOtherDebt`	$8.02M	USD	Annual
Net cash flows (used in)/from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-42.32M	USD	Annual
Effect of changes in foreign exchange rates on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-8.69M	USD	Annual
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$727.00K	USD	Annual
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`	$88.42M	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`	$88.42M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$13.32M	USD	Annual
Income tax paid	`IncomeTaxesPaid`	$1.29M	USD	Annual
Consideration for Nettrader acquisition to be settled	`ConsiderationForNettraderAcquisitionToBeSettled`	$2.59M	USD	Annual
Common stock issued for acquisition of Freedom UA	`StockIssuedDuringPeriodAcquisitions`	-	USD	Annual
Assets received from acquisition of Freedom UA	`AssetsReceivedFromAcquisition`	-	USD	Annual
Liabilities assumed from acquisition of Freedom UA	`LiabilitiesAssumedFromAcquisition`	-	USD	Annual
Debt forgiveness by shareholder in Freedom CY	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Assets received from acquisition of Asyl Invest	`AssetsReceivedFromAcquisitionOfAsylInvest`	-	USD	Annual
Liabilities assumed from Asyl Invest	`LiabilitiesAssumedFromAsylInvest`	-	USD	Annual
Assets received from acquisition of Nettrader	`AssetsReceivedFromAcquisitionOfNettrader`	-	USD	Annual
Liabilities assumed from Nettrader	`LiabilitiesAssumedFromNettrader`	-	USD	Annual

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquity`	$117.60M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$43.89M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$127.03M	USD	Point-in-time
Capital contributions	`AdjustmentsToAdditionalPaidInCapitalCapitalContributions`	$8.59M	USD	Annual
Capital contributions	`AdjustmentsToAdditionalPaidInCapitalCapitalContributions`	$225.00K	USD	Annual
Exercise of options, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$20.00K	USD	Annual
Issuance of shares of common stock in the private placement, amount	`StockIssuedDuringPeriodValueNewIssues`	$40.44M	USD	Annual
Acquisition of Freedom UA, amount	`StockIssuedDuringPeriodValueAcquisitions2`	$1.49M	USD	Annual
Acquisition of Nettrader	`AcquisitionOfNettrader`	$-2.59M	USD	Annual
Acquisition of Nettrader	`AcquisitionOfNettrader`	$7.04M	USD	Annual
Acquisition of Asyl Invest	`AcquisitionOfAsylInvest`	$-2.24M	USD	Annual
Acquisition of Asyl Invest	`AcquisitionOfAsylInvest`	$6.09M	USD	Annual
Stock based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$3.50M	USD	Annual
Stock based compensation, amount	`StockGrantedDuringPeriodValueSharebasedCompensation`	$1.62M	USD	Annual
Debt forgiveness by shareholder	`AdjustmentsToAdditionalPaidInCapitalDebtForgiveness`	$293.00K	USD	Annual
Change in unrealized gain on investments available-for-sale	`ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1`	$-76.00K	USD	Annual
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	`ReclassificationAdjustmentRelatingToAvailableForSaleInvestmentsDisposedOfInPeriod`	$22.00K	USD	Annual
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect	`ReclassificationAdjustmentRelatingToAvailableForSaleInvestmentsDisposedOfInPeriod`	$54.00K	USD	Annual
Translation difference	`ForeignCurrencyTransactionGainLossBeforeTax`	$-15.52M	USD	Annual
Translation difference	`ForeignCurrencyTransactionGainLossBeforeTax`	$-598.00K	USD	Annual
Net income	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$7.15M	USD	Annual
Net income	`IncomeLossFromContinuingOperationsBeforeNoncontrollingInterest`	$18.20M	USD	Annual
Beginning balance, amount	`StockholdersEquity`	$117.60M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$43.89M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquity`	$127.03M	USD	Point-in-time

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