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Debt (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt |
Schedule of outstanding debt | The Company’s outstanding debt was as follows (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Outstanding Principal |  |  | Fair Value |  |  | Outstanding Principal |  |  | Fair Value |
Convertible promissory notes: |  |  |  |  |  |  |  |  |  |  |  |
Historical convertible promissory notes |  | $ | 4,000 |  |  | $ | 4,008 |  |  | $ | 35,347 |  |  | $ | 34,033 |
2024 convertible promissory note |  |  | 5,000 |  |  |  | 4,830 |  |  |  | — |  |  |  | — |
Total convertible promissory notes |  |  | 9,000 |  |  |  | 8,838 |  |  |  | 35,347 |  |  |  | 34,033 |
Borrowings: |  |  |  |  |  |  |  |  |  |  |  |
KEB Hana Bank |  |  | 6,820 |  |  |  | 6,820 |  |  |  | 6,980 |  |  |  | 6,980 |
IBK Industrial Bank |  |  | 6,972 |  |  |  | 6,972 |  |  |  | 7,135 |  |  |  | 7,135 |
Note payable (one individual investor) |  |  | — |  |  |  | — |  |  |  | 1,000 |  |  |  | 1,000 |
Mujin Electronics Co., Ltd. |  |  | 3,789 |  |  |  | 3,789 |  |  |  | — |  |  |  | — |
M-Venture Investment, Inc. |  |  | — |  |  |  | — |  |  |  | 7,756 |  |  |  | 7,756 |
Anapass, Inc., related party |  |  | 9,851 |  |  |  | 9,851 |  |  |  | 10,082 |  |  |  | 10,082 |
i Best Investment Co., Ltd |  |  | 4,546 |  |  |  | 4,546 |  |  |  | 10,082 |  |  |  | 10,082 |
Kyeongho Lee, related party |  |  | 841 |  |  |  | 841 |  |  |  | 1,474 |  |  |  | 1,474 |
Total debt |  | $ | 41,819 |  |  |  | 41,657 |  |  | $ | 79,856 |  |  |  | 78,542 |
Less: current portion |  |  |  |  |  | (36,827 | ) |  |  |  |  |  | (72,303 | )
Debt, net of current portion |  |  |  |  | $ | 4,830 |  |  |  |  |  | $ | 6,239 |
Schedule of Expected future minimum principal payments under the company's total debt | Expected future minimum principal payments under the Company’s total debt is as follows as of September 30, 2024 (in thousands):
Years |  | Convertible Notes Payable |  |  | Borrowings |  |  | Total |
2024, remainder |  | $ | 4,000 |  |  | $ | 7,813 |  |  | $ | 11,813 |
2025 |  |  | — |  |  |  | 25,006 |  |  |  | 25,006 |
2026 |  |  | 5,000 |  |  |  | — |  |  |  | 5,000 |
Total debt |  | $ | 9,000 |  |  | $ | 32,819 |  |  | $ | 41,819 |

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