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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
Carrying Amounts and Estimated Fair Values of Financial Instruments | The following table presents the carrying amounts and estimated fair values of our Company’s financial instruments at December 31, 2020 and 2021.
(in US$ thousands) |  | 2020 |  |  | 2021 |
|  | Carrying amount |  |  | Fair value |  |  | Carrying amount |  |  | Fair value |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 45,702 |  |  | $ | 45,702 |  |  | $ | 41,455 |  |  | $ | 41,455 |
Accounts receivable |  |  | 275 |  |  |  | 275 |  |  |  | 265 |  |  |  | 265 |
Restricted cash |  |  | 300 |  |  |  | 300 |  |  |  | 306 |  |  |  | 306 |
Refundable deposits |  |  | 208 |  |  |  | 208 |  |  |  | 211 |  |  |  | 211 |
Marketable securities - noncurrent |  |  | 10,000 |  |  |  | 10,000 |  |  |  | 10,322 |  |  |  | 10,322 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 70 |  |  |  | 70 |  |  |  | 118 |  |  |  | 118 |
Accrued expenses |  |  | 1,516 |  |  |  | 1,516 |  |  |  | 1,435 |  |  |  | 1,435 |
Lease liabilities - current and noncurrent |  |  | 98 |  |  |  | 98 |  |  |  | 1,987 |  |  |  | 1,987 |
Summary of Assets and Liabilities Measured at Fair Value | Assets and liabilities measured at fair value on a recurring basis are summarized as below:
(in US$ thousands) |  | Fair Value Measurement Using |  |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | At December 31, 2021 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash - time deposits |  | $ | — |  |  | $ | 306 |  |  | $ | — |  |  | $ | 306 |
Marketable securities - noncurrent |  |  | — |  |  |  | — |  |  |  | 10,322 |  |  |  | 10,322 |
|  | $ | — |  |  | $ | 306 |  |  | $ | 10,322 |  |  | $ | 10,628 |
(in US$ thousands) |  | Fair Value Measurement Using |  |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | At December 31, 2020 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents - time deposits |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
Restricted cash - time deposits |  |  | — |  |  |  | 300 |  |  |  | — |  |  |  | 300 |
Marketable securities - noncurrent |  |  | — |  |  |  | — |  |  |  | 10,000 |  |  |  | 10,000 |
|  | $ | — |  |  | $ | 306 |  |  | $ | 10,000 |  |  | $ | 10,306 |
Reconciliation of Beginning and Ending Balances of Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs Level Three | For assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2020 and 2021, a reconciliation of the beginning and ending balances are presented as follows:
(in US$ thousands) |  | Marketable Securities - Debt Securities |  |  | Marketable Securities - Debt and Equity Securities |
|  | 2020 |  |  | 2021 |
Balance at beginning of year |  | $ | — |  |  | $ | 10,000 |
Purchase |  |  | 10,000 |  |  |  | 2,190 |
Disposal |  |  | — |  |  |  | (2,033 | )
Total gains or (losses) (realized/unrealized) |  |  |  |  |  |  |  |
included in earnings |  |  | — |  |  |  | — |
included in other comprehensive income - unrealized gain (loss) on security |  |  | (351 | ) |  |  | (124 | )
included in other comprehensive income - foreign currency items |  |  | 351 |  |  |  | 289 |
Balance at end of year |  | $ | 10,000 |  |  | $ | 10,322 |
The amount of total gains or (losses) for the period included in earnings attributable to the change in unrealized gains or losses relating to assets still held at the reporting date. |  | $ | — |  |  | $ | — |
Level 3 |
Summary of Significant Unobservable Inputs Used in Fair Value Measurements Categorized Within Level 3 of Fair Value Hierarchy |
The significant unobservable inputs used in the fair value measurements categorized within Level 3 of the fair value hierarchy, together with a quantitative sensitivity analysis as of December 31, 2020 and 2021 are shown below: Marketable securities-Level 3 financial assets
Calculation Date | Valuation Technique | Significant Unobservable Inputs | Rate for debt investment | Rate for equity investment | Sensitivity of the Input to Fair Value
December 31, 2021 | The backsolve method to estimate the enterprise value, and then the option pricing method to allocate equity value among various classes of stakeholders. | Discount for lack of marketability (“DLOM”) | From 9. 0% to 18. 0% for different scenarios | From 11.0% to 18.0% for different scenarios | 1% increase or decrease in DLOM would result in a variation in the debt investment’s fair value by approximately $93 thousand and in the equity investment’s fair value by approximately $26 thousand.
Volatility | 36.0% | 36.0% | 1% increase or decrease in volatility would result in a variation in the debt investment’s fair value by approximately $9 thousand and in the equity investment’s fair value by approximately $13 thousand.
December 31, 2020 | The backsolve method to estimate the enterprise value, and then the option pricing method to allocate equity value among various classes of stakeholders | Discount for lack of marketability (“DLOM”) | From 13.50% to 26.00% for different scenarios | - | 1% increase or decrease in DLOM would result in a variation in the debt investment’s fair value by approximately $120 thousand.
Volatility | 41.0% | - | 1% increase or decrease in volatility would result in a variation in the debt investment’s fair value by less than $30 thousand.

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