Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS (Tables)

v3.22.1
INVESTMENTS (Tables)
3 Months Ended
Mar. 31, 2022
Investments [Abstract]  
Schedule of Fair Value and Changes in Fair Value of Investment in Convertible Bond

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, 2022 and December 31, 2021 (in thousands):

 

Investment in convertible bond

 

March 31, 2022

 

 

December 31, 2021

 

Balance, beginning of period

 

$

26,100

 

 

$

27,866

 

Sales of convertible bond

 

 

(2,919

)

 

 

 

Net loss on investment on convertible bond

 

 

(126

)

 

 

 

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

 

 

466

 

 

 

(1,766

)

Balance, end of period

 

$

23,521

 

 

$

26,100

 

Schedule of Fair Value Based upon Assumptions

The fair value as of March 31, 2022 and December 31, 2021 was based upon following assumptions:

 

 

 

March 31, 2022

 

 

December 31, 2021

 

Principal outstanding (South Korean won)

 

KRW 26.5 billion

 

 

KRW 30 billion

 

Stock price

 

KRW2,410

 

 

KRW2,925

 

Expected life (in years)

 

 

8.55

 

 

 

8.79

 

Selected yield

 

 

11.00

%

 

 

10.50

%

Expected volatility (Telcon common stock)

 

 

80.43

%

 

 

81.31

%

Risk-free interest rate (South Korea government bond)

 

 

2.94

%

 

 

2.19

%

Expected dividend yield

 

 

 

 

 

 

Conversion price

 

KRW2,140 (US$1.82)

 

 

KRW2,847 (US$2.39)

 

Schedule of Certain Financial Information of EJ Holdings

The following table sets forth certain financial information of EJ Holdings for the three months ended March 31, 2022 and 2021 (in thousands):

Three Months Ended March 31,

 

 

2022

(Unaudited)

 

 

2021

(Unaudited)

 

REVENUES, NET

$

54

 

 

$

59

 

NET LOSS

$

(1,414

)

 

$

(1,886

)