Company: IWSH
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001214659-25-004885
Chunk: 296

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7
Chunk 296
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 tax assets will not be realized. The valuation allowance increased by approximately $235,000 and had decreased
by approximately $366,000 during the years ended December 31, 2024 and 2023, respectively. The increase in the valuation allowance
during the year ended December 31, 2024 was mainly due to increases in the net operating loss carryforward. The decrease in the valuation
allowance during the year ended December 31, 2023 was mainly attributable to decreases in the gross deferred tax asset related to the
expiration of a capital loss carryforward, net of increases in the net operating loss carryforward.

The Company files a consolidated
federal tax return with its subsidiaries. As of December 31, 2024, the Company has a federal net operating loss carryforward of approximately
$24,334,000, of which $15,177,000 expires from 2031 through 2037, and $9,157,000 does not expire. The Company
also has various state and local net operating loss carryforwards totaling approximately $8,179,000, which expire between 2025 and 2045.
The Company’s capital loss carryforward of approximately $2,371,000 expired during 2023.

    6.
    Capital Stock

The Company’s Board of Directors, without
any vote or action by the holders of common stock, is authorized to issue preferred stock from time to time in one or more series and
to determine the number of shares and to fix the powers, designations, preferences and relative, participating, optional or other special
rights of any series of preferred stock.

The Board of Directors authorized the Company
to repurchase up to 5,000,000 outstanding shares of common stock from time to time either in open market or privately negotiated
transactions. The Company did not repurchase any common stock during the year ended December 31, 2024 and December 31, 2023. At December
31, 2024 and 2023, the Company had repurchased an aggregate of 2,234,721 shares of its common stock and a total of 2,765,279 remained
available for repurchase at December 31, 2024 and 2023. 

On March 9, 2023, there were 285,000 shares
of Company common stock issued to the independent directors of the Company, for payment of quarterly directors