Annual report pursuant to Section 13 and 15(d)

INVESTMENTS (Tables)

v3.22.1
INVESTMENTS (Tables)
12 Months Ended
Dec. 31, 2021
Investments [Abstract]  
Schedule of Fair Value of Investment in Convertible Bonds

The following table sets forth the fair value of the investment in convertible bond as of December 31, 2021 and 2020 (in thousands):

Investment in convertible bonds

 

December 31, 2021

 

 

December 31, 2020

 

Balance, beginning of period

 

$

27,866

 

 

$

 

Fair value at issuance date

 

 

 

 

 

22,059

 

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

 

 

(1,766

)

 

 

5,807

 

Balance, end of period

 

$

26,100

 

 

$

27,866

 

Schedule of fair value based upon assumptions

The fair values as of December 31, 2021 and December 31, 2020 were based upon following assumptions:

 

 

 

December 31, 2021

 

 

December 31, 2020

 

Principal outstanding (South Korean won)

 

KRW 30 billion

 

 

KRW 30 billion

 

Stock price

 

KRW 2,925

 

 

KRW 6,060

 

Expected life (in years)

 

 

8.79

 

 

 

9.79

 

Selected yield

 

 

10.50

%

 

 

10.50

%

Expected volatility (Telcon common stock)

 

 

81.31

%

 

 

85.80

%

Risk-free interest rate (South Korea government bond)

 

 

2.19

%

 

 

1.72

%

Expected dividend yield

 

 

0.00

%

 

 

0.00

%

Conversion price

 

KRW 2,847 (US$2.39)

 

 

KRW 6,028 (US$5.54)

 

Schedule of Certain Financial Information of EJ Holdings

 The following table sets forth certain financial information of EJ Holdings as for December 31, 2021 and 2020 and for the 12 months ended December 31, 2021 and 2020 (in thousands)

 

 

As of December 31,

 

 

2021

(Unaudited)

 

 

2020

(Unaudited)

 

ASSETS

 

 

 

 

 

 

 

Current assets

$

505

 

 

$

1,136

 

Other assets

 

10,585

 

 

 

11,824

 

Total assets

$

11,090

 

 

$

12,960

 

LIABILITIES

 

 

 

 

 

 

 

Current liabilities

$

931

 

 

$

987

 

Long-term liabilities

 

22,589

 

 

 

18,560

 

Total liabilities

$

23,520

 

 

$

19,547

 

Noncontrolling interest

$

(7,458

)

 

$

(3,952

)

 

 

 

 

 

 

 

 

 

12 Month Ended December 31,

 

 

2021

(Unaudited)

 

 

2020

(Unaudited)

 

Revenue, net

$

234

 

 

$

261

 

Net loss

$

(6,833

)

 

$

(5,150

)