Annual report pursuant to Section 13 and 15(d)

INVESTMENTS (Tables)

v3.21.1
INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2020
Investments [Abstract]  
Schedule of Fair Value of Investment in Convertible Bonds

The following table sets forth the fair value of the investment in convertible bonds as of December 31, 2020 and 2019 (in thousands):

 

Investment in convertible bonds

 

December 31, 2020

 

Balance, beginning of period

 

$

 

Fair value at issuance date

 

 

22,059

 

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

 

 

5,827

 

Balance, end of period

 

$

27,886

 

Schedule of fair value based upon assumptions

The fair values as of October 16, 2020 and December 31, 2020 were based upon following assumptions:

 

 

 

 

December 31, 2020

 

 

At Issuance

 

Principal outstanding (South Korean won)

 

KRW 30 billion

 

 

KRW 30 billion

 

Stock price

 

KRW 6,060

 

 

KRW 7,210

 

Expected life (in years)

 

 

9.79

 

 

 

10.00

 

Selected yield

 

 

10.50

%

 

 

13.00

%

Expected volatility (Telcon common stock)

 

 

85.80

%

 

 

86.90

%

Risk-free interest rate (South Korea government bond)

 

 

1.72

%

 

 

1.50

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Conversion price

 

KRW 6,028

 

 

KRW 9,232

 

Schedule of Certain Unaudited Financial Information of EJ Holdings

 The following table sets forth certain unaudited financial information of EJ Holdings for years ended December 31, 2020 and 2019 (in thousands):  

 

 

As of December 31,

 

 

2020

 

 

2019

 

ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS

$

1,136

 

 

$

2,310

 

OTHER ASSETS

 

11,170

 

 

 

10,654

 

Total assets

$

12,306

 

 

$

12,964

 

LIABILITIES

 

 

 

 

 

 

 

CURRENT LIABILITIES

$

987

 

 

$

296

 

LONG-TERM LIABILITIES

 

18,560

 

 

 

13,870

 

Total liabilities

$

19,547

 

 

$

14,166

 

NONCONTROLLING INTEREST

$

(4,345

)

 

$

(721

)

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

2020

 

 

2019

 

REVENUES, NET

$

261

 

 

$

229

 

NET LOSS

$

(5,786

)

 

$

(1,035

)