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RELATED PARTY TRANSACTIONS | 3 Months Ended
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Jun. 30, 2021
RELATED PARTY TRANSACTIONS |
NOTE 15 - RELATED PARTY TRANSACTIONS | NOTE 15 – RELATED PARTY TRANSACTIONS During the three months ended June 30, 2021, and 2020, the Company earned commission income from related parties in the amounts of $65,972 and $30,790, respectively. Commission income earned from related parties is comprised primarily of brokerage commissions and commissions for money transfers by brokerage clients. During the three months ended June 30, 2021, and 2020, the Company paid commission expense to related parties in the amount of $5,282 and $2,445, respectively. During the three months ended June 30, 2021, and 2020, the Company recorded stock-based compensation expense for restricted stock grants to related parties in the amount of $180 and $0, respectively. As of June 30, 2021, and March 31, 2021, the Company had cash and cash equivalents held in brokerage accounts of related parties totaling $17,915 and $12,256, respectively. As of June 30, 2021, and March 31, 2021, the Company had bank commission receivables and receivables from brokerage clients from related parties totaling $232 and $962, respectively. Brokerage and other receivables from related parties result principally from commissions receivable on the brokerage operations of related parties. As of June 30, 2021, and March 31, 2021, the Company had margin lending receivables with related parties totaling $26,518 and $9,886, respectively. As of June 30, 2021, and March 31, 2021, the Company had margin lending payables to related parties, totaling $103,264 and $13,810, respectively. As of June 30, 2021, and March 31, 2021, the Company had accounts payable due to a related party totaling $715 and $339, respectively. As of June 30, 2021, and March 31, 2021, the Company had financial liability with related parties totaling $1,801 and $1,707, respectively. As of June 30, 2021, and March 31, 2021, the Company had customer liabilities to related parties totaling $346,166 and $327,610, respectively. As of June 30, 2021, and March 31, 2021, the Company had restricted customer cash deposited in current and brokerage accounts with related parties in the amounts of $8,375 and $156,878. Brokerage and related banking services, including margin lending, were provided to related parties pursuant to standard client account agreements and at standard market rates.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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