Quarterly report [Sections 13 or 15(d)]

Investments (Tables)

v3.25.3
Investments (Tables)
9 Months Ended
Sep. 30, 2025
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 September 30, 2025 and December 31, 2024 (in thousands):

 

Investment in convertible bond

 

September 30, 2025

 

 

December 31, 2024

 

Balance, beginning of period

 

$

15,037

 

 

$

20,978

 

Sales of convertible bond

 

 

(2,172

)

 

 

(2,508

)

Net loss on investment on convertible bond

 

 

(177

)

 

 

(347

)

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

 

 

2,188

 

 

 

(3,086

)

Balance, end of period

 

$

14,876

 

 

$

15,037

 

Schedule of Fair Value Based upon Assumptions

The fair values as of September 30, 2025 and December 31, 2024 were based upon following assumptions:

 

 

September 30, 2025

 

 

December 31, 2024

 

Principal outstanding (South Korean won)

 

KRW 17.0 billion

 

 

KRW 20.1 billion

 

Stock price

 

KRW 1152

 

 

KRW 5870

 

Expected life (in years)

 

 

5.04

 

 

 

5.79

 

Selected yield

 

 

11.00

%

 

 

9.50

%

Expected volatility (Telcon common stock)

 

 

70.53

%

 

 

62.90

%

Risk-free interest rate (South Korea government bond)

 

 

2.74

%

 

 

2.78

%

Expected dividend yield

 

 

 

 

 

 

Conversion price

 

KRW962(US$0.69)

 

 

KRW5,850(US$3.96)