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3. Revision of Financial Statement (Tables)

12 Months Ended

Mar. 31, 2019

Accounting Changes and Error Corrections [Abstract]

Revision of financial statements

		As of March 31, 2018
BALANCE SHEETS (RECAST)		As previously reported		Recast		As recasted
ASSETS
Cash and cash equivalents		$ 64,531		$ 1,200		$ 65,731
Restricted cash		13,671		8,291		21,962
Trading securities		212,319		276		212,595
Available-for-sale securities, at fair value		2		238		240
Brokerage and other receivables, net		21,109		3,776		24,885
Loans issued		8,754		-		8,754
Deferred tax assets		1,046		(274)		772
Fixed assets, net		2,362		48		2,410
Intangible assets, net		-		5,692		5,692
Goodwill		1,798		1,490		3,288
Other assets, net		4,494		79		4,573
TOTAL ASSETS		$ 330,086		$ 20,816		$ 350,902
LIABILITIES AND STOCKHOLDERS’ EQUITY
Securities sold, not yet purchased - at fair value		$ 1,135		$ -		$ 1,135
Loans received		7,143		-		7,143
Debt securities issued		10,840		382		11,222
Customer liabilities		21,855		8,817		30,672
Trade payables		8,998		15		9,013
Deferred distribution payments		8,534		-		8,534
Securities repurchase agreement obligations		154,775		-		154,775
Deferred income tax liabilities		387		(387)		-
Other liabilities		1,319		57		1,376
TOTAL LIABILITIES		214,986		8,884		223,870
STOCKHOLDERS’ EQUITY
Preferred stock		-		-		-
Common stock		58		-		58
Additional paid in capital		87,049		13,131		100,180
Retained earnings		35,387		(1,036)		34,351
Accumulated other comprehensive loss		(7,394)		(163)		(7,557)
TOTAL STOCKHOLDERS’ EQUITY		115,100		11,932		127,032
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$ 330,086		$ 20,816		$ 350,902

		For the year ended  March 31, 2018
STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (RECAST)		As previously reported		Recast		As recasted
Revenue:
Fee and commission income		$ 10,796		$ 1,378		$ 12,174
Net gain on trading securities		33,746		481		34,227
Interest income		8,184		651		8,835
Net gain on derivatives		643		-		643
Net gain on sale of fixed assets		5		(5)		-
Net gain on foreign exchange operations		1,850		28		1,878
TOTAL REVENUE, NET		55,224		2,533		57,757
Expense:
Interest expense		14,244		491		14,735
Fee and commission expense		2,066		222		2,288
Operating expense		18,927		2,773		21,700
Provision for impairment losses		-		423		423
Other (income)/expense, net		275		(279)		(4)
TOTAL EXPENSE		35,512		3,630		39,142
NET INCOME BEFORE INCOME TAX		19,712		(1,097)		18,615
Income tax expense		(479)		61		(418)
NET INCOME		$ 19,233		$ (1,036)		$ 18,197
OTHER COMPREHENSIVE INCOME
Changes in unrealized gain on investments available-for-sale, net of tax effect		-		(76)		(76)
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect		-		54		54
Foreign currency translation adjustments, net of tax		(457)		(141)		(598)
COMPREHENSIVE INCOME		$ 18,776		$ (1,199)		$ 17,577

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22663-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22658-107794

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