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LEASE ARRANGEMENTS | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
LEASE ARRANGEMENTS | NOTE 9. LEASE ARRANGEMENTS During 2024 and 2023, w e leased office premises and automobile for operational use with lease terms of 2 to 5 years that expire at various dates through 2027. We do not have purchase options to acquire the leasehold office premises and automobile at the end of the lease terms. Right-of-use assets Right-of-use assets consist of the following:
|  | December 31 |
(in US$ thousands) |  | 2024 |  |  | 2023 |
Carrying amount: |  |  |  |  |  |
Office premise |  | $ | 450 |  |  | $ | 931 |
Automobile |  |  | 34 |  |  |  | 13 |
|  | $ | 484 |  |  | $ | 944 |
Lease liabilities
|  | December 31 |
(in US$ thousands) |  | 2024 |  |  | 2023 |
Carrying amount: |  |  |  |  |  |
Current portion (classified under other current liabilities) |  | $ | 416 |  |  | $ | 475 |
Noncurrent portion |  |  | 84 |  |  |  | 495 |
|  | $ | 500 |  |  | $ | 970 |
Discount rates for the existing lease liabilities ranged from 1.44% to 3.6% as of December 31, 2024, and from 1.44% to 3.6% as of December 31, 2023. Supplemental information Supplemental disclosures of cash flow and noncash information consist of the following:
|  | For the Year ended December 31 |
(in US$ thousands) |  | 2024 |  |  | 2023 |
Cash paid for operating leases |  | $ | 481 |  |  | $ | 491 |
Operating lease expenses |  | $ | 499 |  |  | $ | 495 |
|  | As of December 31 |
(in US$ thousands) |  | 2024 |  |  | 2023 |
Lease liabilities arising from obtaining right-of-use assets |  | $ | 49 |  |  | $ | 116 |
Weighted-average remaining lease term |  | 1.18 years |  |  | 2.04 years |
Weighted-average discount rate |  | 1.60% |  |  | 1.60% |
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the consolidated balance sheet as of December 31, 2024:
(in US$ thousands) |  |  |  | Operating Leases |
Year |  |  |  |  |
2025 |  |  |  | $ | 421 |
2026 |  |  |  |  | 81 |
2027 |  |  |  |  | 3 |
Total minimum lease payments |  |  |  |  | 505 |
Less: amount of lease payments representing interest |  |  |  |  | (5 | )
Present value of future minimum lease payments |  |  |  |  | 500 |
Less: current obligation under leases |  |  |  |  | (416 | )
Non-current lease obligations |  |  |  | $ | 84 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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