Turtle Beach Corp. (HEAR)

[realfast95]

Perhaps the best part of the earnings conf call.
SG VTB probably dumped his remaining shares.


"While on the subject of the financial instrument obligation related to the Series B share retirement on March 30, 2019, we amended the warrant agreement in connection with the exchange of the Series B preferred stock. As a result, the warrants are no longer accounted for as a financial instrument obligation or reported as a liability that is mark-to-market each period, what changes in fair value reported in earnings.

The warrants were mark-to-market through March 30, 2019, at which time the warrants are accounted for as an equity instrument with the fair value on that date reclassified to additional paid in capital. As such we will no longer be exposed to the swings in net income arising from the former accounting treatment of the warrants."