Company: IWSH
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001214659-25-004885
Chunk: 161

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 161
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the impact of ASU 2023-09 on our disclosures.

    4.
    Accounts payable and accrued expenses

Accounts payable and accrued expenses consist
of the following (in thousands):

    Year Ended December 31, 

    2024  
    2023 

    Accrued professional fees 
    $15  
    $44 
  
    Other 
     100  
     39 
  
    Total 
    $115  
    $83 

    5.
    Income taxes

For the years ended December 31, 2024 and 2023,
the Company recorded no income tax expense.

The difference between the benefit for income
taxes computed at the statutory rate and the reported amount of tax benefit from operations is as follows:

    Year ended December 31, 

    2024  
    2023 
  
    Federal income tax rate 
     (21.0)% 
     (21.0)%
  
    State income tax (net of federal effect) 
     (4.8) 
     7.1 
  
    Change in valuation allowance 
     24.4  
     (36.2)
  
    Deferred tax adjustment 
     -  
     50.0 
  
    Non-deductible expenses / (non-taxable income) 
     1.4  
     0.1 
  
    Effective tax rate 
     -% 
     -%

 20 

WRIGHT INVESTORS’ SERVICE HOLDINGS, INC.

Notes to Consolidated Financial Statements

December 31, 2024

The deferred tax assets and liabilities are summarized as follows (in
thousands):

    Year ended December 31, 

    2024  
    2023 
  
    Deferred tax assets: 

    Net operating loss carryforwards 
    $5,530  
    $5,301 
  
    Unrealized loss on investments 
     93  
     87 
  
    Other 
     3  
     3 
  
    Gross deferred tax assets 
     5,626  
     5,391 
  
    Less: valuation allowance 
     (5,626) 
     (5,391)
  
    Deferred tax assets after valuation allowance 
     -  
     - 

    Net deferred tax assets 
    $-