| Schedule of Outstanding Debt |
The Company’s outstanding debt was as follows (in thousands):
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|
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|
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|
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|
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|
June 30, 2026 |
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|
December 31, 2025 |
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|
|
Outstanding
Principal |
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|
Fair Value |
|
|
Outstanding
Principal |
|
|
Fair Value |
|
Convertible promissory notes: |
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|
|
|
|
|
|
|
|
|
|
2024 convertible promissory note |
|
$ |
5,000 |
|
|
$ |
5,184 |
|
|
$ |
5,000 |
|
|
$ |
4,939 |
|
Indigo convertible promissory note |
|
|
— |
|
|
|
— |
|
|
|
1,000 |
|
|
|
1,107 |
|
Total convertible promissory notes |
|
|
5,000 |
|
|
|
5,184 |
|
|
|
6,000 |
|
|
|
6,046 |
|
Borrowings: |
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|
|
|
|
|
|
|
|
|
|
|
KEB Hana Bank |
|
|
5,838 |
|
|
|
5,838 |
|
|
|
6,271 |
|
|
|
6,271 |
|
IBK Industrial Bank |
|
|
5,968 |
|
|
|
5,968 |
|
|
|
6,412 |
|
|
|
6,412 |
|
Mujin Electronics Co., Ltd. |
|
|
3,244 |
|
|
|
3,244 |
|
|
|
3,485 |
|
|
|
3,485 |
|
Anapass, Inc., related party |
|
|
27,571 |
|
|
|
27,571 |
|
|
|
29,619 |
|
|
|
29,619 |
|
i Best Investment Co., Ltd. |
|
|
1,946 |
|
|
|
1,946 |
|
|
|
2,091 |
|
|
|
2,091 |
|
Kyeongho Lee, related party |
|
|
5,514 |
|
|
|
5,514 |
|
|
|
8,711 |
|
|
|
8,711 |
|
Total borrowings |
|
$ |
50,081 |
|
|
|
50,081 |
|
|
$ |
56,589 |
|
|
|
56,589 |
|
Less: current portion of borrowings |
|
|
|
|
|
(39,053 |
) |
|
|
|
|
|
(56,589 |
) |
Long-term borrowings |
|
|
|
|
$ |
11,028 |
|
|
|
|
|
$ |
— |
|
|
| Schedule of Expected Future Minimum Principal Payments |
Expected future minimum principal payments under the Company’s total debt are as follows as of June 30, 2026 (in thousands):
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|
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|
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|
|
Years |
|
Convertible
Notes
Payable |
|
|
Borrowings |
|
|
Total |
|
2026, remainder |
|
$ |
— |
|
|
$ |
35,485 |
|
|
$ |
35,485 |
|
2027 |
|
|
— |
|
|
|
14,596 |
|
|
|
14,596 |
|
2028 |
|
|
5,000 |
|
|
|
— |
|
|
|
5,000 |
|
Total debt |
|
$ |
5,000 |
|
|
$ |
50,081 |
|
|
$ |
55,081 |
|
|