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SEGMENT REPORTING
 3 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
Recently the Company's CODM restructured the way he views the Company's business from a single operating segment to five geographic regional segments including Central Asia, Europe, United States, Russia and Middle East/Caucasus.
The following tables summarize the Company's Statement of Operations and Statements of Other Comprehensive Income by its geographic segments. Intercompany balances were eliminated for separate disclosure:
Quarter ended June 30, 2022
STATEMENTS OF OPERATIONS
Central AsiaEuropeU.S.RussiaMiddle East/CaucasusTotal
Fee and commission income (1)
$9,192 $84,034 $1,134 $37,281 $— $131,641 
Net gain/(loss) on trading securities21,589 (15,424)(1,731)11,148 — 15,582 
Net realized loss on investments available for sale(593)— — — — (593)
Interest income38,910 297 4,442 5,804 — 49,453 
Income from insurance activity24,241 — — — — 24,241 
Net gain/(loss) on foreign exchange operations4,268 569 (234)426 (10)5,019 
Net gain on derivative1,265 — — — — 1,265 
TOTAL REVENUE, NET98,872 69,476 3,611 54,659 (10)226,608 
Fee and commission expense10,714 12,427 153 1,926 21 25,241 
Interest expense31,968 2,696 5,407 5,758 — 45,829 
Expenses related to Insurance activity16,692 — — — — 16,692 
Operating expense20,766 11,565 5,267 27,469 400 65,467 
Provision for impairment losses/(recoveries)2,431 — (3)370 — 2,798 
Other expense/(income), net(496)2 (6)30 (57)(527)
TOTAL EXPENSE82,075 26,690 10,818 35,553 364 155,500 
NET INCOME BEFORE INCOME TAX16,797 42,786 (7,207)19,106 (374)71,108 
Income tax (expense)/benefit(61)(7,223)(1,605)(3,156)10 (12,035)
NET PROFIT/(LOSS)$16,736 $35,563 $(8,812)$15,950 $(364)$59,073 
Quarter ended June 30, 2021 (Recast)
STATEMENTS OF OPERATIONS
Central AsiaEuropeU.S.RussiaMiddle East/CaucasusTotal
Fee and commission income$6,342 $71,991 $969 $18,081 $— $97,383 
Net gain/(loss) on trading securities8,942 42 (302)2,059 — 10,741 
Net realized loss on investments available for sale(31)— — — — (31)
Interest income20,829 261 47 3,525 — 24,662 
Income from insurance activity 14,076 — 14,076 
Net gain/(loss) on foreign exchange operations1,470 (226)(36)(2,232)— (1,024)
Net loss on derivative(59)— — (1)— (60)
TOTAL REVENUE, NET51,569 72,068 678 21,432 — 145,747 
Fee and commission expense2,532 18,480 182 2,066 — 23,260 
Interest expense12,268 1,698 280 2,249 — 16,495 
Expense from insurance activity 11,296 — — — — 11,296 
Operating expense11,128 4,792 4,857 12,432 35 33,244 
Provision for impairment losses 255 12 — 26 — 293 
Other expense, net47 3 — 75 — 125 
TOTAL EXPENSE37,526 24,985 5,319 16,848 35 84,713 
NET INCOME BEFORE INCOME TAX14,043 47,083 (4,641)4,584 (35)61,034 
Income tax (expense)/benefit(114)(5,862)849 (537)— (5,664)
NET PROFIT/(LOSS)$13,929 $41,221 $(3,792)$4,047 $(35)$55,370 
(1) All trading of U.S. and European exchange traded and OTC securities by all of the Company's securities brokerage firms, excluding PrimeEx, are routed to and executed through Freedom EU and all fee and commission income for those transactions is recognized at Freedom EU.
The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure:
June 30, 2022
Central AsiaEuropeU.S.RussiaMiddle East/CaucasusTotal
Total assets$1,901,585 $589,078 $147,548 $1,157,130 $1,853 $3,797,194 
Total liabilities1,641,727 358,023 152,458 1,037,683 387 3,190,278 
Net assets$259,858 $231,055 $(4,910)$119,447 $1,466 $606,916 
March 31, 2022 (Recast)
Central AsiaEuropeU.S.RussiaMiddle East/CaucasusTotal
Total assets$1,422,912 $777,116 $170,149 $806,960 $355 $3,177,492 
Total liabilities1,203,486 471,435 175,136 780,655 172 2,630,884 
Net assets$219,426 $305,681 $(4,987)$26,305 $183 $546,608