Company: IWSH
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001214659-25-004885
Chunk: 120

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 120
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 year ended December 31, 2024, Other operating
expenses were $627,000 as compared to $714,000 for the year ended December 31, 2023. The decreased operating expenses of $87,000
were primarily the result of decreased fees related to the repair and maintenance of Company owned dam properties of $71,000, decreased
travel and entertainment expenses of $26,000, and decreased other expenses of $11,000, offset by increased professional fees of $21,000. The
dam properties were fully impaired as of December 31, 2018.

Interest and other income

For the year ended December 31, 2024, Interest and other income was
$159,000 as compared to $166,000 for the year ended December 31, 2023. The decreased interest and other income, including net realized
gains and losses on U.S. Treasury bills, of $7,000 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 year ended December 31, 2024.

Income taxes

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

The Company recorded
a full valuation allowance against its net deferred tax assets as of December 31, 2024 and 2023. Due to a full valuation allowance on
the deferred tax assets related to net operating loss carryforwards, no tax benefit has been recorded in relation to the pre-tax loss
for the years ended December 31, 2024 and 2023.

Financial condition, liquidity, and capital resources

Liquidity and Capital Resources

At December 31, 2024, the Company had cash and
cash equivalents totaling $1,440,000 which includes U.S. government debt securities of $705,000, and short-term investments in mutual
funds totaling $914,000 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
March 31, 2026.

The increase in cash and cash equivalents of $1,315,000 for the year
ended December 31, 202