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Long-Term Debt | 12 Months Ended
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Dec. 31, 2023
Long-Term Debt [Abstract] |
Long-Term Debt |
| 9. | Long-Term Debt
The Company has entered into various loans with financial institutions. Long-term debt consisted of the following (in thousands):
|  | As of December 31, |
|  | 2023 |  |  | 2022 |
Term Loan |  | $ | 1,378 |  |  | $ | 1,673 |
Less current portion |  |  | (268 | ) |  |  | (269 | )
Long-term debt less current portion |  | $ | 1,110 |  |  | $ | 1,404 |
Term Loan In 2013, the Company entered into a term loan agreement with a financial institution for $4.1 million with a maturity date of November 26, 2028 (the “Term Loan”). The Term Loan bears a floating interest rate of the one-year savings account plus 0.43% per annum in the first two years and a floating interest rate of the one-year savings account plus 0.61% per annum for the remaining of the term, not to be lower than 1.8% during the entire term. The interest rate was equivalent to 2.20% as of December 31, 2023. The Term Loan is collateralized by a first position security interest in a floor of an office building owned by the Company in Taiwan. Aggregate maturities of long-term debt, excluding unamortized debt issuance costs, were as follows (in thousands) as of December 31, 2023:
2024 |  | $ | 268 |
2025 |  |  | 274 |
2026 |  |  | 280 |
2027 |  |  | 287 |
2028 |  |  | 269 |
|  | $ | 1,378 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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