Annual report [Section 13 and 15(d), not S-K Item 405]

INVESTMENTS (Tables)

v3.25.1
INVESTMENTS (Tables)
12 Months Ended
Dec. 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 December 31, 2024 and 2023 (in thousands):

Investment in convertible bonds

 

December 31, 2024

 

 

December 31, 2023

 

Balance, beginning of year

 

$

20,978

 

 

$

19,971

 

Sales of convertible bond

 

 

(2,508

)

 

 

(2,232

)

Net gain (loss) on investment in convertible bond

 

 

(347

)

 

 

106

 

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

 

 

(3,086

)

 

 

3,133

 

Balance, end of year

 

$

15,037

 

 

$

20,978

 

Schedule of Fair Value Based upon Assumptions

The fair values as of December 31, 2024 and December 31, 2023 were based upon following assumptions:

 

 

December 31, 2024

 

 

December 31, 2023

 

Principal outstanding (South Korean won)

 

KRW 20.1 billion

 

 

KRW 23.6 billion

 

Stock price

 

KRW 5870

 

 

KRW 873

 

Expected life (in years)

 

 

5.79

 

 

 

6.79

 

Selected yield

 

 

9.50

%

 

 

12.25

%

Expected volatility (Telcon common stock)

 

 

62.90

%

 

 

71.90

%

Risk-free interest rate (South Korea government bond)

 

 

2.78

%

 

 

3.16

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Conversion price

 

KRW5,850(US$3.96)

 

 

KRW705(US$0.54)