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SEGMENT REPORTING
 3 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTINGDuring the fourth quarter of 2022 fiscal year, 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 Company has classified the Russia segment as discontinued operations for the periods presented because the assets and liabilities to be disposed of in connection with this transaction met the held for
sale criteria as of June 30, 2022. The Company's CODM do not review inter-segment revenues as part of Segment reporting.
The segment reporting was restated for the errors described in Note 4, and restated segment information was provided to CODM in their reports.
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 (Restated)
STATEMENTS OF OPERATIONS
Central AsiaEuropeU.S.Middle East/CaucasusTotal
Fee and commission income (1)
$8,250 $80,062 $1,134 $— $89,446 
Net gain/(loss) on trading securities21,589 (15,425)(1,731)— 4,433 
Net realized loss on investments available for sale(593)— — — (593)
Interest income39,852 4,269 4,442 — 48,563 
Income from insurance activity24,241 — — — 24,241 
Net gain/(loss) on foreign exchange operations4,267 570 (234)(10)4,593 
Net gain on derivative1,266 — — — 1,266 
TOTAL REVENUE, NET98,872 69,476 3,611 (10)171,949 
Fee and commission expense10,714 12,427 153 21 23,315 
Interest expense31,968 2,696 5,407 — 40,071 
Expenses related to Insurance activity16,692 — — — 16,692 
Operating expense20,767 11,565 5,267 400 37,999 
Provision for impairment losses/(recoveries)2,431 — (3)— 2,428 
Other expense/(income), net(500)2 (6)(57)(561)
TOTAL EXPENSE82,072 26,690 10,818 364 119,944 
NET INCOME BEFORE INCOME TAX16,800 42,786 (7,207)(374)52,005 
Income tax expense(61)(7,223)(1,605)10 (8,879)
NET PROFIT/(LOSS)$16,739 $35,563 $(8,812)$(364)$43,126 
Quarter ended June 30, 2021 (Restated)
STATEMENTS OF OPERATIONS
Central AsiaEuropeU.S.Middle East/CaucasusTotal
Fee and commission income$6,159 $70,987 $969 $— $78,115 
Net gain/(loss) on trading securities8,942 42 (302)— 8,682 
Net realized loss on investments available for sale(31)— — — (31)
Interest income20,926 1,265 47 — 22,238 
Income from insurance activity 14,076 — 14,076 
Net gain/(loss) on foreign exchange operations1,470 (226)(36)— 1,208 
Net loss on derivative(59)— — — (59)
TOTAL REVENUE, NET51,483 72,068 678 — 124,229 
Fee and commission expense2,532 18,480 182 — 21,194 
Interest expense12,268 1,698 280 — 14,246 
Expense from insurance activity 11,296 — — — 11,296 
Operating expense11,128 4,792 3,466 35 19,421 
Provision for impairment losses 255 12 — — 267 
Other expense, net49 (39)— — 10 
TOTAL EXPENSE37,528 24,943 3,928 35 66,434 
NET INCOME BEFORE INCOME TAX13,955 47,125 (3,250)(35)57,795 
Income tax (expense)/benefit(114)(5,862)849 — (5,127)
NET PROFIT/(LOSS)$13,841 $41,263 $(2,401)$(35)$52,668 
(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 (Recast)
Central AsiaEuropeU.S.Middle East/CaucasusHeld for SaleTotal
Total assets$1,907,881 $676,329 $147,548 $1,853 $1,157,130 $3,890,741 
Total liabilities1,648,023 445,274 152,458 387 1,037,683 3,283,825 
Net assets$259,858 $231,055 $(4,910)$1,466 $119,447 $606,916 
March 31, 2022 (Recast)
Central AsiaEuropeU.S.Middle East/CaucasusHeld for SaleTotal
Total assets$1,423,529 $805,768 $172,679 $355 $825,419 $3,227,750 
Total liabilities1,203,473 489,883 175,136 172 812,478 2,681,142 
Net assets$220,056 $315,885 $(2,457)$183 $12,941 $546,608