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Debt (Tables)

9 Months Ended

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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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-1

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