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ACQUISITION | 6 Months Ended
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Sep. 30, 2020
PREPAYMENT ON ACQUISITION |
NOTE 19 - ACQUISITION | NOTE 19 - ACQUISITION On July 2, 2020, we completed the acquisition of Zerich, following receipt of approval from the Russian Federal Antimonopoly Service. Zerich commenced business in 1995 and is one of the oldest securities brokerage firms in Russia, currently ranking as the 19th largest brokerage house in Russia in terms of clients. The Company agreed to acquire Zerich for $7,110. The total purchase price was allocated as follows:
|  | Purchase price allocation |
|  | As of July 2, 2020 |
Assets: |  |  |
Cash and cash equivalents |  | $ | 26,760 |
Restricted cash |  |  | 1,231 |
Trading securities |  |  | 2,828 |
Fixed assets |  |  | 8 |
Intangible assets |  |  | 3,733 |
Right-of-use asset |  |  | 454 |
Brokerage and other receivables |  |  | 376 |
Other assets |  |  | 94 |
Total assets |  | $ | 35,484 |
Liabilities: |  |  |  |
Customer liabilities |  | $ | 25,799 |
Securities repurchase agreement obligation |  |  | 1,600 |
Lease liabilities |  |  | 497 |
Trade and other payables |  |  | 104 |
Other liabilities |  |  | 419 |
Total liabilities |  | $ | 28,419 |
Net assets acquired |  | $ | 7,065 |
Goodwill |  |  | 45 |
Total purchase price |  | $ | 7,110 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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