Ian and his team were engaged by a private biotechnology company to determine the proper accounting for a complicated convertible preferred stock transaction that included a future tranche right afforded to the investors. We successfully articulated the legal status of the future tranche, prepared the company’s financial statements ahead of an audit, and advised on an early implementation of lease guidance ASC 842 to best account for one of the company’s lease agreements.

Note: This work was performed prior to joining Stout.