Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS (Tables)

v3.21.2
INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2021
Investments [Abstract]  
Schedule of Fair Value and Changes in Fair Value of Investment in Convertible Bonds

The following table sets forth the fair value and changes in fair value of the investment in convertible bonds as of March 31, 2021, and December 31, 2020 (in thousands):

 

Investment in convertible bond

 

March 31, 2021

 

 

December 31, 2020

 

Balance, beginning of period

 

$

27,866

 

 

$

 

Fair value at issuance date

 

 

 

 

 

22,059

 

Change in fair value included in the statement of other comprehensive income (loss)

 

 

77

 

 

 

5,807

 

Balance, end of period

 

$

27,943

 

 

$

27,866

 

Schedule of Fair Value Based upon Assumptions

The fair value as of March 31, 2021, and December 31, 2020 was based upon following assumptions:

 

 

 

March 31, 2021

 

 

December 31, 2020

 

Principal outstanding (South Korean won)

 

KRW 30 billion

 

 

KRW 30 billion

 

Stock price

 

KRW 5,020

 

 

KRW 6,060

 

Expected life (in years)

 

 

9.55

 

 

 

9.79

 

Selected yield

 

 

9.50

%

 

 

10.50

%

Expected volatility (Telcon common stock)

 

 

84.50

%

 

 

85.80

%

Risk-free interest rate (South Korea government bond)

 

 

2.02

%

 

 

1.72

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Conversion price

 

KRW 5,023

 

 

KRW 6,028

 

Schedule of Certain Financial Information of EJ Holdings

The following table sets forth certain financial information of EJ Holdings for the three months ended March 31, 2021 and March 31, 2020 (in thousands):  

 

Three months ended March 31,

 

 

2021

 

 

2020

 

 

(Unaudited)

 

 

(Unaudited)

 

REVENUES, NET

 

59

 

 

 

84

 

GROSS PROFIT

 

59

 

 

 

84

 

NET LOSS

$

(1,886

)

 

$

(1,021

)