Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS (Tables)

v3.21.2
INVESTMENTS (Tables)
9 Months Ended
Sep. 30, 2021
Investments [Abstract]  
Schedule of Fair Value and Changes in Fair Value of Investment in Convertible Bond

The following table sets forth the fair value and changes in fair value of the investment in convertible bond as of September 30, 2021 and December 31, 2020 (in thousands):

 

Investment in convertible bond

 

September 30, 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

 

 

(2,150

)

 

 

5,807

 

Balance, end of period

 

$

25,716

 

 

$

27,866

 

Schedule of Fair Value Based upon Assumptions

The fair value as of September 30, 2021 and December 31, 2020 was based upon following assumptions:

 

 

 

September 30, 2021

 

 

December 31, 2020

 

Principal outstanding (South Korean won)

 

KRW 30 billion

 

 

KRW 30 billion

 

Stock price

 

KRW 3,990

 

 

KRW 6,060

 

Expected life (in years)

 

 

9.04

 

 

 

9.79

 

Selected yield

 

 

10.50

%

 

 

10.50

%

Expected volatility (Telcon common stock)

 

 

82.15

%

 

 

85.80

%

Risk-free interest rate (South Korea government bond)

 

 

2.18

%

 

 

1.72

%

Expected dividend yield

 

 

 

 

 

 

Conversion price

 

KRW 4,110 (US$3.47)

 

 

KRW 6,028 (US$5.54)

 

Schedule of Certain Financial Information of EJ Holdings

The following table sets forth certain financial information of EJ Holdings for the three and nine months ended September 30, 2021 and 2020 (in thousands):  

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

(Unaudited)

 

 

(Unaudited)

 

 

(Unaudited)

 

 

(Unaudited)

 

REVENUES, NET

$

57

 

 

$

55

 

 

$

174

 

 

$

201

 

GROSS PROFIT

 

57

 

 

 

55

 

 

 

174

 

 

 

201

 

NET LOSS

$

(1,657

)

 

$

(1,228

)

 

$

(4,998

)

 

$

(3,677

)