Hi! You are correct - A warrant on puttable (redeemable) shares is a liability subject to the guidance in ASC 480. This is outlined in ASC 480-10-55-33. For these instruments, the guidance requires the entire instrument to be classified as a liability and measured initially and subsequently each reporting period at fair value. Upon exercise of the warrant, the issuer's preferred shares, including the embedded put option, would not longer be in the scope of ASC 480. The valuation of these warrants adds another wrinkle. Oftentimes, the complexity of the instruments terms/conditions, require a more complex valuation approach (e.g., modified Black-Scholes, Monte Carlo simulation, etc.) to accurately determine the instruments value each reporting period. This is usually achieved by engaging a valuation specialist (which we have here at Embark!) who can build and run these models for your specific instrument. Our team is happy to assist if you wish to engage support on this - visit us at www.embarkwithus.com to connect!

I don’t want to confront them about it and just hope I sign but it would mean nothing

Don't leave us hanging! How did the interview go?

They are pronouncing the name of the software incorrectly to begin with. Also, everything that Alteryx can do... can be done with VBA and macros within Excel while maintaining formulas and an audit trail. Alteryx only produces flat Excel sheets. It's a powerful tool for data manipulation, but brings many complications when dealing with internal/external auditors and having to redefine controls, etc. AKA just a pain in the ass, hire some contractors to write macros in Excel.