General form of registration statement for all companies including face-amount certificate companies

OTHER NONCURRENT ASSETS

v3.21.2
OTHER NONCURRENT ASSETS
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
OTHER NONCURRENT ASSETS    
OTHER NONCURRENT ASSETS

11. OTHER NONCURRENT ASSETS

The following table summarizes the Company’s components of other noncurrent assets (in thousands):

March 31, 

December 31, 

2021

2020

Other investments

$

3,025

$

3,000

Right of use asset

3,702

1,810

Long-term deposits

99

69

Total other noncurrent assets

$

6,826

$

4,879

During the year ended December 31, 2020, the Company made an investment in a privately held company in the form of convertible debt for $3.0 million. Under the terms of this agreement, the debt will be converted to common stock of the investee upon the closing of a qualified financing, acquisition or change in control. The full principal balance plus 3% annual interest is due in two years and does not allow voluntary prepayment.

11. OTHER NONCURRENT ASSETS

The following table summarizes the Company’s components of other noncurrent assets (in thousands):

December 31, 

    

2020

    

2019

Other investments

$

3,000

$

Right of use asset

1,810

2,289

Long-term deposits

69

Total other noncurrent assets

$

4,879

$

2,289

During the year ended December 31, 2020, the Company made an investment in a privately held company in the form of convertible debt for $3.0 million. Under the terms of this agreement, the debt will be converted to common stock of the investee upon the closing of a qualified financing, acquisition or change in control. The full principal balance plus 3% annual interest is due in two years and does not allow voluntary prepayment. As of December 31, 2020, the balance of other investments was $3.0 million. As of December 31, 2019, there were no other investments.