Company: FRHC
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0000924805-25-000002
Chunk: 70

Company: Freedom Holding Corp.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments in this Update should be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this Update or (2) retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the impact that ASU No 2024-03 will have on its consolidated financial statements and related disclosures. 

In November 2024, the FASB issued ASU No. 2024-04, “Debt-Debt with Conversion and Other Options” (Subtopic 470-20). The amendments in this Update clarify the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The amendments in this Update are effective for all entities for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities that have adopted the amendments in Update 2020-06. The amendments in this Update permit an entity to apply the new guidance on either a prospective or a retrospective basis. The Company is currently evaluating the impact that ASU No 2024-04 will have on its consolidated financial statements and related disclosures. 

NOTE 3 – CASH AND CASH EQUIVALENTS

As of December 31, 2024, and March 31, 2024, cash and cash equivalents consisted of the following: December 31, 2024March 31, 2024 Short term deposits in commercial banks$274,776 $127,051 Short term deposits in National Bank (Kazakhstan)172,561 196,942 Securities purchased under reverse repurchase agreements51,685 134,961 Petty cash in bank vault and on hand42,777 22,613 Short term deposits on brokerage accounts12,156 2,917 Short term deposits in stock exchanges9,301 47,830 Short term deposits in National Bank (Tajikistan)8,367 — Overnight deposits4,024 3,557 Cash in transit2,208 9,633 Bank deposits275 — Short term deposits in the Central Depository (Kazakhstan)152 42 Allowance for cash and cash equivalents(342)(462)Total cash and cash equivalents$577,940 $545,