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Thursday, July 22, 2021 12:48:17 PM
"In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 “Debt—Debt with “Conversion and Other Options” and ASC subtopic 815-40 “Hedging—Contracts in Entity’s Own Equity”. The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and, (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital."
Do you think the accounting models our CFO uses will have to be overhauled going into next year? I know he's orchestrated a complex web of these instruments over the past year to keep the company above water, and I can't seem to even get a clue on how we're going to be impacted by these accounting differences going forward.
Recent IQST News
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- Form 8-K - Current report • Edgar (US Regulatory) • 07/12/2024 09:27:15 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 08:05:00 PM
- IQST - iQSTEL Announces $290 Million 2024 Annual Revenue Forecast • InvestorsHub NewsWire • 06/04/2024 05:43:14 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 01:14:06 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 08:04:40 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/05/2024 09:56:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/04/2024 10:19:27 PM
- Form S-1 - General form for registration of securities under the Securities Act of 1933 • Edgar (US Regulatory) • 02/13/2024 04:40:15 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 02/06/2024 08:37:10 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 10:26:52 PM
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