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SEGMENT REPORTING (Tables) | 12 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following tables summarize the Company's Statement of operation by its geographic segments. There are no revenues from transactions between the segments and intercompany balances were eliminated for separate:
| Year ended March 31, 2023
STATEMENTS OF OPERATIONS | Central Asia and Eastern Europe |  | Europe, excluding Eastern Europe |  | US |  | Middle East/Caucasus |  | Total
Fee and commission income(1) | $ | 106,982 |  |  | $ | 215,408 |  |  | $ | 4,825 |  |  | $ | — |  |  | $ | 327,215 |
Net gain/(loss) on trading securities | 92,330 |  |  | (22,693) |  |  | 1,447 |  |  | — |  |  | 71,084 |
Interest income | 257,285 |  |  | 26,090 |  |  | 11,289 |  |  | 31 |  |  | 294,695 |
Insurance underwriting income | 115,371 |  |  | — |  |  | — |  |  | — |  |  | 115,371 |
Net gain/(loss) on foreign exchange operations | 58,908 |  |  | (2,287) |  |  | (4,479) |  |  | 12 |  |  | 52,154 |
Net loss on derivative | (64,826) |  |  | — |  |  | — |  |  | — |  |  | (64,826) |
TOTAL REVENUE, NET | 566,050 |  |  | 216,518 |  |  | 13,082 |  |  | 43 |  |  | 795,693 |
Fee and commission expense | $ | 34,939 |  |  | $ | 29,426 |  |  | $ | 1,238 |  |  | $ | 57 |  |  | $ | 65,660 |
Interest expense | 172,326 |  |  | 22,042 |  |  | 14,579 |  |  | — |  |  | 208,947 |
Insurance claims incurred, net of reinsurance | 77,329 |  |  | — |  |  | — |  |  | — |  |  | 77,329 |
Payroll and bonuses | 56,774 |  |  | 16,090 |  |  | 7,818 |  |  | 1,137 |  |  | 81,819 |
Professional services | 1,594 |  |  | 7,397 |  |  | 7,875 |  |  | 140 |  |  | 17,006 |
Stock compensation expense | 6,582 |  |  | 550 |  |  | 2,161 |  |  | — |  |  | 9,293 |
Advertising expense | 7,847 |  |  | 5,900 |  |  | 186 |  |  | 126 |  |  | 14,059 |
General and administrative expense | 34,754 |  |  | 20,496 |  |  | 4,095 |  |  | 626 |  |  | 59,971 |
Provision for impairment losses | 12,522 |  |  | 15,070 |  |  | 1,527 |  |  | — |  |  | 29,119 |
Other (income)/expense, net | (4,485) |  |  | 1,101 |  |  | (14) |  |  | (50) |  |  | (3,448) |
TOTAL EXPENSE | 400,182 |  |  | 118,072 |  |  | 39,465 |  |  | 2,036 |  |  | 559,755 |
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS | $ | 165,868 |  |  | $ | 98,446 |  |  | $ | (26,383) |  |  | (1,993) |  |  | $ | 235,938 |
Income tax expense | (625) |  |  | (21,813) |  |  | (20,278) |  |  | (60) |  |  | (42,776) |
NET INCOME/(LOSS) FROM CONTINUING OPERATIONS | $ | 165,243 |  |  | $ | 76,633 |  |  | $ | (46,661) |  |  | (2,053) |  |  | $ | 193,162 |
| Year ended March 31, 2022 (Recasted)
STATEMENTS OF OPERATIONS | Central Asia and Eastern Europe |  | Europe, excluding Eastern Europe |  | US |  | Middle East/Caucasus |  | Total
Fee and commission income(1) | $ | 23,652 |  |  | $ | 307,014 |  |  | $ | 4,545 |  |  | $ | — |  |  | $ | 335,211 |
Net gain on trading securities | 10,511 |  |  | 142,195 |  |  | 2,546 |  |  | — |  |  | 155,252 |
Interest income | 107,075 |  |  | 14,051 |  |  | 483 |  |  | — |  |  | 121,609 |
Insurance underwriting income | 72,981 |  |  | — |  |  | — |  |  | — |  |  | 72,981 |
Net gain/(loss) on foreign exchange operations | 7,824 |  |  | (5,598) |  |  | 1,565 |  |  | — |  |  | 3,791 |
Net gain on derivative | 946 |  |  | — |  |  | — |  |  | — |  |  | 946 |
TOTAL REVENUE, NET | 222,989 |  |  | 457,662 |  |  | 9,139 |  |  | — |  |  | 689,790 |
Fee and commission expense | 20,610 |  |  | 64,519 |  |  | 780 |  |  | — |  |  | 85,909 |
Interest expense | 66,392 |  |  | 8,747 |  |  | 1,808 |  |  | — |  |  | 76,947 |
Insurance claims incurred, net of reinsurance | 54,447 |  |  | — |  |  | — |  |  | — |  |  | 54,447 |
Payroll and bonuses | 32,562 |  |  | 9,419 |  |  | 4,224 |  |  | 83 |  |  | 46,288 |
Professional services | 1,773 |  |  | 5,540 |  |  | 5,295 |  |  | 74 |  |  | 12,682 |
Stock compensation expense | 4,768 |  |  | 677 |  |  | 2,414 |  |  | — |  |  | 7,859 |
Advertising expense | 4,684 |  |  | 7,217 |  |  | 9 |  |  | 6 |  |  | 11,916 |
General and administrative expense | 16,770 |  |  | 4,894 |  |  | 1,749 |  |  | 120 |  |  | 23,533 |
Provision for impairment losses | 2,441 |  |  | 61 |  |  | — |  |  | — |  |  | 2,502 |
Other expense/(income), net | 3,138 |  |  | 7 |  |  | 872 |  |  | (3) |  |  | 4,014 |
TOTAL EXPENSE | 207,585 |  |  | 101,081 |  |  | 17,151 |  |  | 280 |  |  | 326,097 |
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS | $ | 15,404 |  |  | $ | 356,581 |  |  | $ | (8,012) |  |  | (280) |  |  | $ | 363,693 |
Income tax (expense)/benefit | 1,195 |  |  | (26,786) |  |  | (12,988) |  |  | 9 |  |  | (38,570) |
NET INCOME/(LOSS) FROM CONTINUING OPERATIONS | $ | 16,599 |  |  | $ | 329,795 |  |  | $ | (21,000) |  |  | (271) |  |  | $ | 325,123 |
| Year ended March 31, 2021 (Recasted)
STATEMENTS OF OPERATIONS | Central Asia and Eastern Europe |  | Europe, excluding Eastern Europe |  | US |  | Middle East/Caucasus |  | Total
Fee and commission income(1) | $ | 20,567 |  |  | $ | 194,311 |  |  | $ | 1,130 |  |  | $ | — |  |  | $ | 216,008 |
Net gain on trading securities | 21,310 |  |  | 8 |  |  | 7,489 |  |  | — |  |  | 28,807 |
Interest income | 34,158 |  |  | 3,634 |  |  | 682 |  |  | — |  |  | 38,474 |
Insurance underwriting income | 62,951 |  |  | — |  |  | — |  |  | — |  |  | 62,951 |
Net gain/(loss) on foreign exchange operations | 1,072 |  |  | (300) |  |  | (215) |  |  | — |  |  | 557 |
Net gain on derivative | 86 |  |  | — |  |  | — |  |  | — |  |  | 86 |
TOTAL REVENUE, NET | 140,144 |  |  | 197,653 |  |  | 9,086 |  |  | — |  |  | 346,883 |
Fee and commission expense | 7,412 |  |  | 62,430 |  |  | 695 |  |  | — |  |  | 70,537 |
Interest expense | 16,608 |  |  | 3,663 |  |  | 2,173 |  |  | — |  |  | 22,444 |
Insurance claims incurred, net of reinsurance | 52,405 |  |  | — |  |  | — |  |  | — |  |  | 52,405 |
Payroll and bonuses | 16,878 |  |  | 5,398 |  |  | 1,156 |  |  | 3 |  |  | 23,435 |
Professional services | 685 |  |  | 769 |  |  | 2,975 |  |  | 1 |  |  | 4,430 |
Stock compensation expense | — |  |  | 56 |  |  | 58 |  |  | — |  |  | 114 |
Advertising expense | 3,566 |  |  | 3,386 |  |  | 19 |  |  | — |  |  | 6,971 |
General and administrative expense | 8,036 |  |  | 2,518 |  |  | 553 |  |  | 11 |  |  | 11,118 |
Provision for impairment losses | 1,086 |  |  | 108 |  |  | 396 |  |  | — |  |  | 1,590 |
Other expense/(income), net | 2,052 |  |  | (3) |  |  | (15) |  |  | — |  |  | 2,034 |
TOTAL EXPENSE | 108,728 |  |  | 78,325 |  |  | 8,010 |  |  | 15 |  |  | 195,078 |
INCOME/(LOSS) BEFORE INCOME TAX FROM CONTINUING OPERATIONS | $ | 31,416 |  |  | $ | 119,328 |  |  | $ | 1,076 |  |  | (15) |  |  | $ | 151,805 |
Income tax (expense)/benefit | 111 |  |  | (13,859) |  |  | (9,559) |  |  | — |  |  | (23,307) |
NET INCOME/(LOSS) FROM CONTINUING OPERATIONS | $ | 31,527 |  |  | $ | 105,469 |  |  | $ | (8,483) |  |  | (15) |  |  | $ | 128,498 |
(1) All trading of U.S. and European exchange traded and OTC securities by all Freedom 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 subsidiary received the initial order from external client. The following tables summarize the Company's total asset and total liabilities by its geographic segments. Intercompany balances were eliminated for separate disclosure:
| March 31, 2023
| Central Asia and Eastern Europe |  | Europe, excluding Eastern Europe |  | US |  | Middle East/ Caucasus |  | Held for sale |  | Total
Total assets | $ | 4,303,126 |  |  | $ | 677,425 |  |  | $ | 101,365 |  |  | $ | 2,642 |  |  |  |  | $ | 5,084,558 |
Total liabilities | 3,868,326 |  |  | 384,921 |  |  | 60,198 |  |  | 377 |  |  |  |  | 4,313,822 |
Net assets | $ | 434,800 |  |  | $ | 292,504 |  |  | $ | 41,167 |  |  | $ | 2,265 |  |  |  |  | $ | 770,736 |
| March 31, 2022 (Recasted)
| Central Asia and Eastern Europe |  | Europe, excluding Eastern Europe |  | US |  | Middle East/ Caucasus |  | Held for sale |  | Total
Total assets | $ | 1,466,214 |  |  | $ | 765,698 |  |  | $ | 172,661 |  |  | $ | 355 |  |  | $ | 825,419 |  |  | $ | 3,230,347 |
Total liabilities | 1,206,084 |  |  | 489,884 |  |  | 175,121 |  |  | 172 |  |  | 812,478 |  |  | 2,683,739 |
Net assets | $ | 260,130 |  |  | $ | 275,814 |  |  | $ | (2,460) |  |  | $ | 183 |  |  | $ | 12,941 |  |  | $ | 546,608 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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