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

Investments (Tables)

v3.26.1
Investments (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2025 and 2024 (in thousands):

Investment in convertible bonds

 

December 31, 2025

 

 

December 31, 2024

 

Balance, beginning of year

 

$

15,037

 

 

$

20,978

 

Sales of convertible bond

 

 

(2,172

)

 

 

(2,508

)

Net loss on investment in convertible bond

 

 

(177

)

 

 

(347

)

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

 

 

(84

)

 

 

(3,086

)

Balance, end of year

 

$

12,604

 

 

$

15,037

 

Schedule of Fair Value Based upon Assumptions

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

 

 

December 31, 2025

 

 

December 31, 2024

 

Principal outstanding (South Korean won)

 

KRW 17.0 billion

 

 

KRW 20.1 billion

 

Stock price

 

KRW 917

 

 

KRW 5870

 

Expected life (in years)

 

 

4.79

 

 

 

5.79

 

Selected yield

 

 

13.50

%

 

 

9.50

%

Expected volatility (Telcon common stock)

 

 

67.04

%

 

 

62.90

%

Risk-free interest rate (South Korea government bond)

 

 

3.21

%

 

 

2.78

%

Expected dividend yield

 

 

 

 

 

 

Conversion price

 

KRW1,000(US$0.69)

 

 

KRW5,850(US$3.96)