Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS (Tables)

v3.24.2.u1
INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2024
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 the Telcon convertible bond as of March 31, 2024 and December 31, 2023 (in thousands):

 

Investment in convertible bond

 

March 31, 2024

 

 

December 31, 2023

 

Balance, beginning of period

 

$

20,978

 

 

$

19,971

 

Sales of convertible bond

 

 

 

 

 

(2,232

)

Net gain on investment on convertible bond

 

 

 

 

 

106

 

Change in fair value included in the statement of other comprehensive income

 

 

(1,728

)

 

 

3,133

 

Balance, end of period

 

$

19,250

 

 

$

20,978

 

Schedule of Fair Value Based upon Assumptions

The fair value as of March 31, 2024 and December 31, 2023 was based upon following assumptions:

 

 

March 31, 2024

 

 

December 31, 2023

 

Principal outstanding (South Korean won)

 

KRW 23.6 billion

 

 

KRW 23.6 billion

 

Stock price

 

KRW804

 

 

KRW 873

 

Expected life (in years)

 

 

6.54

 

 

 

6.79

 

Selected yield

 

 

12.75

%

 

 

12.25

%

Expected volatility (Telcon common stock)

 

 

71.10

%

 

 

71.90

%

Risk-free interest rate (South Korea government bond)

 

 

3.37

%

 

 

3.16

%

Expected dividend yield

 

 

 

 

 

 

Conversion price

 

KRW705(US$0.53)

 

 

KRW705(US$0.54)