Company: IWSH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001214659-25-007745
Chunk: 26

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 26
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Financial condition

Liquidity and Capital Resources

At March 31, 2025, the Company had cash and cash
equivalents totaling $671,000 and investments in mutual funds totaling $1,450,000 which it intends
to use to acquire interests in one or more operating businesses, and to fund the Company’s general and administrative expenses.
The directors will also consider alternatives for distributing some or all of its cash and cash equivalents and investments to stockholders.
The Company believes that its working capital is sufficient to support its operating requirements through June 30, 2026.

Cash equivalents represent short-term, highly
liquid investments, which are readily convertible to cash and have maturities of three months or less at time of purchase. Please refer
to note 5 for valuation of Investments.

The decrease in cash and cash equivalents of $769,000
for the three months ended March 31, 2025 was primarily the result of $244,000 used in operating activities, $560,000 used in the purchase
of mutual funds, offset by the sale and the redemption of investments of $35,000.

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Item 3.Quantitative and Qualitative Disclosures About Market Risk

Not required.

Item 4.Controls and Procedures

The Company’s principal executive officer
and principal financial officer, with the assistance of other members of the Company’s management, have evaluated the effectiveness
of the design and operation of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and
15d-15(e) under the Exchange Act) as of the end of the period covered by this quarterly report. Based upon such evaluation, the Company’s
principal executive officer and principal financial officer have concluded that the Company’s disclosure controls and procedures
are effective as of the end of the period covered by this quarterly report.

The Company’s principal executive officer
and principal financial officer have also concluded that there was no change in the Company’s internal control over financial reporting
(as such term is defined in Rule 13a-15(f) under the Exchange Act) that occurred during the quarter ended March 31, 2025 that has materially
affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 2.Unregistered Sales of Equity Securities and Use of Proceeds.

Purchases of Equity Securities

The Board of Directors authorized the Company
to repurchase up