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27. Acquisitions | 12 Months Ended
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Mar. 31, 2018
Business Combinations [Abstract] |
Acquisitions | Acquisition of Freedom CY The Company agreed to acquire Freedom CY from Mr. Turlov on November 23, 2015, subject to certain closing conditions, including receipt of all required regulatory approvals to transfer ownership of Freedom CY. As disclosed in Note 1, the final condition to closing was completed on November 1, 2017 and on November 10, 2017, the Company issued 12,758,011 shares of restricted common stock to Mr. Turlov in exchange for his 100% equity interest in Freedom CY and the securities brokerage and financial services business conducted by it in Cyprus, and Freedom CY became a wholly owned subsidiary of the Company. When preparing the consolidated financial statements for the year ended March 31, 2018, management determined that certain amounts included in the Company’s March 31, 2017, consolidated financial statements required revision, due to closing of the acquisition of Freedom CY on November 1, 2017, which was deemed to be entity under common control with the Company. Acquisition of Freedom UA: On November 1, 2017 (the Acquisition Date), FRHC acquired 100% of the outstanding common shares and voting interest in Freedom UA in exchange for 387,700 shares of restricted common stock of the Company with the fair market value of $1,485. FRHC acquired Freedom UA to expand its existing securities brokerage business to the Ukrainian securities brokerage market. The Company believes it can take advantage of the synergies that exist between its current expertise and infrastructure and Freedom UA’s existing business to rapidly expand the Company’s presence in the Ukrainian financial services industry. As of the Acquisition Date, the fair value of Freedom UA was $653. For the five months ended March 31, 2018, net loss of Freedom UA totaled $53. The total purchase price was allocated as follows:
|  | Purchase price allocation |
|  | As of November 1, 2017 |
Assets: |  |  |
Cash and cash equivalents |  | $ | 432 |
Trading securities |  |  | 6 |
Fixed assets |  |  | 88 |
Customer list |  |  | 176 |
Brokerage and other receivables |  |  | 947 |
Other assets |  |  | 3 |
Total assets |  | $ | 1,652 |
Liabilities: |  |  |  |
Customer liabilities |  | $ | 997 |
Trade payables |  |  | 1 |
Other liabilities |  |  | 1 |
Total liabilities |  | $ | 999 |
Net assets acquired |  | $ | 653 |
Goodwill |  |  | 832 |
Total purchase price |  | $ | 1,485 |

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- Definition The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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