Wright Investors Service Holdings, Inc.

Previous wording

For the year ended December 31, 2023, the Company had a loss from operations before income taxes of $1,006,000 compared to a loss from operations before income taxes of $1,207,000 for the year ended December 31, 2022.

Current wording

For the year ended December 31, 2024, the Company had a net loss of $920,000 compared to a net loss of $1,006,000 for the year ended December 31, 2023.

Previous wording

The decreased loss of $201,000 was primarily the result of a decrease in Other operating expenses of $54,000 and an increase in Interest and other income of $145,000.

Current wording

The decreased loss of $86,000 was primarily the result of a decrease in Other operating expenses of $87,000, a decrease in Compensation and benefits of $6,000, and an decrease in Interest and other income of $7,000.

Previous wording

For the year ended December 31, 2023, Other operating expenses were $714,000 as compared to $768,000 for the year ended December 31, 2022. The decreased operating expenses of $54,000 was primarily the result of decreased directors’ fees of $85,000, decreased professional fees of $6,000, and decreased other expenses of $6,000, offset by increased expenses related to the repair and maintenance and legal fees incurred in relation to the Company owned dam properties of $43,000. The properties were fully impaired as of December 31, 2018.

Current wording

For the 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.

Previous wording

For the year ended December 31, 2023, Interest and other income was $166,000 as compared to $21,000 for the year ended December 31, 2022. The increased interest and other income, including net realized gains and losses on U.S. Treasury bills, of $145,000 was primarily the result of the higher yields related to the investments in U.S. Treasury securities and mutual funds, and related interest income of $161,000 during the year ended December 31, 2023.

Current wording

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.

Previous wording

At December 31, 2023, the Company had cash and cash equivalents totaling $125,000 and short-term investments in U.S. Treasury Bills, and mutual funds totaling $3,144,000 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, 2025.

Current wording

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.

Previous wording

The increase in cash and cash equivalents of $35,000 for the year ended December 31, 2023 was primarily the result of $965,000 used in operating activities and proceeds from redemptions of investments in U.S. Treasury Bills of $1,735,000, offset by the purchase of mutual funds of $735,000.

Current wording

The increase in cash and cash equivalents of $1,315,000 for the year ended December 31, 2024 was primarily the result of $938,000 used in operating activities and proceeds from redemptions of investments in U.S. Treasury Bills and mutual funds of $4,257,000, offset by the purchase of mutual funds of $2,004,000.