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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
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, 2023 and 2022.
(in US$ thousands) |  | 2023 |  |  | 2022 |
|  | Carrying amount |  |  | Fair value |  |  | Carrying amount |  |  | Fair value |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 38,470 |  |  | $ | 38,470 |  |  | $ | 38,794 |  |  | $ | 38,794 |
Accounts receivable |  |  | 227 |  |  |  | 227 |  |  |  | 199 |  |  |  | 199 |
Restricted cash |  |  | 313 |  |  |  | 313 |  |  |  | 313 |  |  |  | 313 |
Refundable deposits |  |  | 193 |  |  |  | 193 |  |  |  | 192 |  |  |  | 192 |
Investment in securities - current |  |  | — |  |  |  | — |  |  |  | 7,950 |  |  |  | 7,950 |
Investment in securities - noncurrent |  |  | 5,777 |  |  |  | 5,777 |  |  |  | 2,371 |  |  |  | 2,371 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  |  | 44 |  |  |  | 44 |  |  |  | 53 |  |  |  | 53 |
Accrued expenses |  |  | 1,182 |  |  |  | 1,182 |  |  |  | 1,151 |  |  |  | 1,151 |
Lease liabilities - current and noncurrent |  |  | 970 |  |  |  | 970 |  |  |  | 1,333 |  |  |  | 1,333 |
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, 2023 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash - time deposits |  | $ | — |  |  | $ | 313 |  |  | $ | — |  |  | $ | 313 |
Investment in securities - noncurrent |  |  | — |  |  |  | — |  |  |  | 5,777 |  |  |  | 5,777 |
|  | $ | — |  |  | $ | 313 |  |  | $ | 5,777 |  |  | $ | 6,090 |
(in US$ thousands) |  | Fair Value Measurement Using |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | At December 31, 2022 |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Restricted cash - time deposits |  | $ | — |  |  | $ | 313 |  |  | $ | — |  |  | $ | 313 |
Investment in securities - current |  |  | — |  |  |  | — |  |  |  | 7,950 |  |  |  | 7,950 |
Investment in securities - noncurrent |  |  | — |  |  |  | — |  |  |  | 2,371 |  |  |  | 2,371 |
|  | $ | — |  |  | $ | 313 |  |  | $ | 10,321 |  |  | $ | 10,634 |
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 2023 and 2022, a reconciliation of the beginning and ending balances are presented as follows:
(in US$ thousands) |  | 2023 |
|  | Investment in debt securities |  |  | Investment in equity securities |
Balance at beginning of year |  | $ | 7,950 |  |  | $ | 2,371 |
Purchase |  |  | 105 |  |  |  | — |
Disposal or repayment |  |  | (1,000 | ) |  |  | — |
Total gains or (losses) (realized/unrealized) |  |  |  |  |  |
included in earnings |  |  | — |  |  |  | (2,110 | )
included in other comprehensive income - unrealized gain (loss) on security |  |  | (1,453 | ) |  |  | — |
included in other comprehensive income - foreign currency items |  |  | (54 | ) |  |  | (32 | )
Balance at end of year |  | $ | 5,548 |  |  | $ | 229 |
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. |  | $ | — |  |  | $ | (2,110 | )
(in US$ thousands) |  | 2022 |
|  | Investment in debt securities |  |  | Investment in equity securities |
Balance at beginning of year |  | $ | 8,132 |  |  | $ | 2,190 |
Purchase |  |  | — |  |  |  | — |
Disposal |  |  | — |  |  |  | — |
Total gains or (losses) (realized/unrealized) |  |  |  |  |  |
included in earnings |  |  | — |  |  |  | 409 |
included in other comprehensive income - unrealized gain (loss) on security |  |  | 620 |  |  |  | — |
included in other comprehensive income - foreign currency items |  |  | (802 | ) |  |  | (228 | )
Balance at end of year |  | $ | 7,950 |  |  | $ | 2,371 |
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. |  | $ | — |  |  | $ | 409 |
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, 2023 and 2022 are shown below: Investment in securities - Level 3 financial assets Sensitivity of the Input to Fair Value
|  |  |  |  | Changes of Fair Value (in US$ thousands)
Calculation Date | Valuation Technique | Significant Unobservable Inputs | Rate for debt investment | Rate for equity investment | If the Rate of Input changes by -1% | If the Rate of Input changes by +1%
December 31, 2023 | The discounted cash flow analysis to estimate the enterprise value, and then the option pricing method to allocate equity value among various classes of stakeholders. | Discount rate for future cash flows | 38.5% | 38.5% | Debt securities: +$90 Equity securities: +$67 | Debt securities: -$121 Equity securities: -$58
Discount for lack of marketability (“DLOM”) | 12% | From 12.0% to 30.0% for different scenarios | Debt securities: +$63 Equity securities: +$4 | Debt securities: -$63 Equity securities: -$3
Volatility | 29% | 29% | Debt securities: +$22 Equity securities: +$3 | Debt securities: -$86 Equity securities: -$2
December 31, 2022 | The discounted cash flow analysis to estimate the enterprise value, and then the option pricing method to allocate equity value among various classes of stakeholders. | Discount rate for future cash flows | 38.5% | 38.5% | Debt securities: +$372 Equity securities: +$175 | Debt securities: -$262 Equity securities: -$170
Discount for lack of marketability (“DLOM”) | From 4.0% to 12.0% for different scenarios | From 6.0% to 12.0% for different scenarios | Debt securities: +$93 Equity securities: +$26 | Debt securities: -$93 Equity securities: -$25
Volatility | From 28% to 31.0% for different scenarios | From 28% to 31.0% for different scenarios | Debt securities: +$23 Equity securities: +$16 | Debt securities: +$24 Equity securities: -$10

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