Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS (Tables)

v3.23.2
INVESTMENTS (Tables)
6 Months Ended
Jun. 30, 2023
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 June 30, 2023 and December 31, 2022 (in thousands):

 

Investment in convertible bond

 

June 30, 2023

 

 

December 31, 2022

 

Balance, beginning of period

 

$

19,971

 

 

$

26,100

 

Sale of convertible bond

 

 

(2,232

)

 

 

(2,919

)

Net gain (loss) on investment on convertible bond

 

 

106

 

 

 

(126

)

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

 

 

1,365

 

 

 

(3,084

)

Balance, end of period

 

$

19,210

 

 

$

19,971

 

Schedule of Fair Value Based upon Assumptions

The fair value as of June 30, 2022 and December 31, 2022 was based upon following assumptions:

 

 

June 30, 2023

 

 

December 31, 2022

 

Principal outstanding (South Korean won)

 

KRW 23.6 billion

 

 

KRW 26.5 billion

 

Stock price

 

KRW1,158

 

 

KRW 1,015

 

Expected life (in years)

 

 

7.30

 

 

 

7.79

 

Selected yield

 

 

12.75

%

 

 

13.50

%

Expected volatility (Telcon common stock)

 

 

79.70

%

 

 

78.50

%

Risk-free interest rate (South Korea government bond)

 

 

3.69

%

 

 

3.74

%

Expected dividend yield

 

 

 

 

 

 

Conversion price

 

KRW1,068(US$0.81)

 

 

KRW1,068(US$0.85)

 

Schedule of Certain Financial Information of EJ Holdings

The following table sets forth certain unaudited financial information of EJ Holdings for the three and six months ended June 30, 2023 and 2022 (in thousands):

 

Three Month Ended June 30,

 

 

Six Month Ended June 30,

 

 

2023
(Unaudited)

 

 

2022
(Unaudited)

 

 

2023
(Unaudited)

 

 

2022
(Unaudited)

 

Revenue, net

$

45

 

 

$

48

 

 

$

99

 

 

$

102

 

Net loss

$

(1,098

)

 

$

(1,234

)

 

$

(2,416

)

 

$

(2,648

)

Net loss attributable to the Company (40%)

$

(439

)

 

$

(493

)

 

$

(966

)

 

$

(1,059

)