Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 137

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 10
Chunk 137
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. The Company operates under several brands in the market, including Direct Transfer, Interwest, ACCESSWIRE and Newswire. The Company leverages its securities compliance and regulatory expertise to provide a comprehensive set of services that enhance a customer’s ability to communicate effectively with its shareholder base while meeting all reporting regulations required.

Note 2: Summary of Significant Accounting Policies The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Significant intercompany accounts and transactions are eliminated in consolidation. Cash Equivalents For purposes of the Company’s financial statements, the Company considers all highly liquid investments purchased with an original maturity date of three months or less to be cash equivalents. Accounts Receivable and Allowance for Credit Losses The Company calculates its allowance for credit losses using an expected losses model rather than using incurred losses. The model is based on the credit losses expected to arise over the life of the asset based on the Company’s expectations as of the balances sheet date through analyzing historical customer data as well as taking into consideration current economic trends. The Company generally writes-off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues its collection. The following is a summary of the allowance for credit losses during the years ended December 31, 2024 and 2023 (in 000’s):   Year EndedDecember 31,2024  Year EndedDecember 31,2023 Beginning balance $721  $546 Provision for credit losses  1,083   538 Write-offs  (745 )  (363 )Ending balance $1,059  $721 

 F-11Table of Contents

Concentrations of Credit Risk & Customers Financial instruments and related items which potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and accounts receivables. The Company places its cash and temporary cash investments with credit quality institutions. As of December 31, 2024, the Company’s domestic cash balance is spread among different depository institutions such that there is no balance which exceeds the FDIC insurance limit of $250,000. The Company also had cash-on-hand of $68,000 in Europe and $1,691,000 in Canada as of December 31, 2024. The Company believes it did not have any financial instruments that could have potentially subjected us to significant concentrations of credit risk for any relevant period. The Company did not