Company: IWSH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001214659-25-007745
Chunk: 34

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 34
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 $113,000 for the three months ended March 31, 2024.

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Other operating expenses

For the three months ended March 31, 2025 and
2024, Other operating expenses were $172,000.

Interest and other income, net

For the three months ended March 31, 2025, Interest
and other income, net was $31,000 as compared to $66,000 for the three months ended March 31, 2024. The decreased interest and other income,
net of $35,000 was primarily the result of the lower yields related to the investments in U.S. Treasury securities and mutual funds and
lower balances of such investments during the three months ended March 31, 2025.

Income taxes

For the three months
ended March 31, 2025 and 2024, the Company recorded no income tax expense from operations. No tax benefit has been recorded in relation
to the pre-tax loss for the three months ended March 31, 2025 and 2024, due to a full valuation allowance to offset any deferred tax asset
related to net operating loss carry forwards attributable to the losses. 

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