Quarterly report [Sections 13 or 15(d)]

Investments (Tables)

v3.26.1
Investments (Tables)
3 Months Ended
Mar. 31, 2026
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, 2026 and December 31, 2025 (in thousands):

 

Investment in convertible bonds

 

March 31, 2026

 

 

December 31, 2025

 

Balance, beginning of year

 

$

12,604

 

 

$

15,037

 

Sales of convertible bond

 

 

 

 

 

(2,172

)

Net loss on investment in convertible bond

 

 

 

 

 

(177

)

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

 

 

(940

)

 

 

(84

)

Balance, end of year

 

$

11,664

 

 

$

12,604

 

Schedule of Fair Value Based upon Assumptions

The fair values as of March 31, 2026 and December 31, 2025 were based upon following assumptions:

 

 

March 31, 2026

 

December 31, 2025

Principal outstanding (South Korean won)

 

KRW 17.0 billion

 

KRW 17.0 billion

Stock price

 

KRW 825

 

KRW 917

Expected life (in years)

 

4.55

 

4.79

Selected yield

 

15.00%

 

13.50%

Expected volatility (Telcon common stock)

 

69.25%

 

67.04%

Risk-free interest rate (South Korea government bond)

 

3.76%

 

3.21%

Expected dividend yield

 

 

Conversion price

 

KRW1,000(US$0.66)

 

KRW1,000(US$0.69)

Loan receivable from EJ Holdings