Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 426

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 426
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 securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. 
 
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
 
Critical audit matters 
Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.
 
/S/ GRANT THORNTON LLP
 
We have served as the Company’s auditor since 2005.
 
Tulsa, Oklahoma
March 12, 2025

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PAMT CORP AND SUBSIDIARIES

 CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2024 AND 2023

(in thousands, except share and per share data)

        2024    2023  
ASSETS      
         
 CURRENT ASSETS:         
 Cash and cash equivalents  $68,060  $100,614 
 Accounts receivable—net:         
 Trade, less current estimated credit loss of $6,636 and $7,717, respectively   79,967   80,604 
 Other   4,854   7,203 
 Inventories   2,433   2,321 
 Prepaid expenses and deposits   11,555   13,213 
 Marketable equity securities   42,620   43,203 
 Income taxes refundable   2,281   3,883 
         
 Total current assets   211,770   251,041 
         
 PROPERTY AND EQUIPMENT:         
 Land   30