Company: IWSH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001214659-25-007745
Chunk: 5

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 5
---
”)
is the Chief Executive Officer. The CODM evaluates the results and performance of the reporting segment and decides how to allocate resources
based on condensed consolidated net loss which is reported on the Condensed Consolidated Statements of Operations. Additionally, the measure
of segment assets is reported on the Condensed Consolidated Balance Sheets as total assets.

 6 

The accounting policies for the reportable segment
are the same as those described above in the summary of significant accounting policies. The expenses and net loss for the one reportable
segment are the same as those presented on the Condensed Consolidated Statements of Operations. Significant expense categories, including
compensation and benefits, other operating expenses, and interest and other income, net are included on the Company's Condensed Consolidated
Statements of Operations.

    4.
    New accounting standard

In November 2023, the Financial Accounting
Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Improvements to Income Tax Disclosures, which
requires entities to disclose disaggregated information about their effective tax rate reconciliations as well as expanded
information on income taxes by jurisdiction. The standard is effective for fiscal years beginning after December 15, 2024, on a
prospective basis. The Company discloses its income tax rate reconciliation in its annual consolidated financial statements only and
does not expect the adoption to have a material impact on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03,
Income Statement Reporting-Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement
Expenses. The standard update improves the disclosures about a public business entity’s expenses by requiring more detailed information
about the types of expenses (including compensation and benefits and other operating expenses) included within income statement expense
captions. The guidance will be effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods
beginning after December 15, 2027. Early adoption is permitted. The standard will be applied on a prospective basis, with retrospective
application permitted. The Company is currently evaluating the impact of adoption of the standard on its financial statement disclosures.

5.Investment valuation

The
Company’s investments in marketable securities consist of investments in equity securities which are mutual funds. The Company carries
its investments at fair value. Fair value is an estimate of the exit price, representing