Enforce transaction lifecycle dates

OpenCapTable-v34/daml.yaml

@@ -1,7 +1,7 @@
 sdk-version: 3.4.10
 name: OpenCapTable-v34
 source: daml
-version: 0.0.13
+version: 0.0.14
 build-options:
   - -Wno-crypto-text-is-alpha
   - --typecheck-upgrades=no

Test/daml.yaml

@@ -7,6 +7,6 @@ dependencies:
   - daml-stdlib
   - daml-script
 data-dependencies:
-  - ../OpenCapTable-v34/.daml/dist/OpenCapTable-v34-0.0.13.dar
+  - ../OpenCapTable-v34/.daml/dist/OpenCapTable-v34-0.0.14.dar
 build-options:
   - -Wno-template-interface-depends-on-daml-script

Test/daml/OpenCapTable/TestApprovalDateConsistency.daml

@@ -0,0 +1,181 @@
+module OpenCapTable.TestApprovalDateConsistency where
+
+import qualified Fairmint.OpenCapTable.CapTable as CT
+import Fairmint.OpenCapTable.OCF.IssuerAuthorizedSharesAdjustment (IssuerAuthorizedSharesAdjustmentOcfData(..))
+import Fairmint.OpenCapTable.OCF.StockClassAuthorizedSharesAdjustment (StockClassAuthorizedSharesAdjustmentOcfData(..))
+import Fairmint.OpenCapTable.OCF.StockPlanPoolAdjustment (StockPlanPoolAdjustmentOcfData(..))
+import Fairmint.OpenCapTable.OCF.Valuation (ValuationOcfData(..), OcfValuationType(..))
+import Fairmint.OpenCapTable.Types.Monetary (OcfMonetary(..))
+import OpenCapTable.Setup
+import OpenCapTable.TestHelpers
+  ( addDefaultStakeholder
+  , addDefaultStockClass
+  , addPrerequisites
+  , convertibleSuccessorIssuance
+  , defaultStockIssuance
+  , defaultStockPlan
+  , equityCompensationSuccessorIssuance
+  , warrantSuccessorIssuance
+  )
+import qualified DA.Date as DA
+import DA.Date (Month(..))
+import qualified DA.Time as DT
+import Daml.Script
+
+jan01 : Time
+jan01 = DT.time (DA.date 2024 Jan 01) 0 0 0
+
+jan02 : Time
+jan02 = DT.time (DA.date 2024 Jan 02) 0 0 0
+
+assertCreateFails : Party -> ContractId CT.CapTable -> CT.OcfCreateData -> Script ()
+assertCreateFails issuer capTable createData = do
+  submitMustFail issuer do
+    exerciseCmd capTable CT.UpdateCapTable with
+      creates = [createData]
+      edits = []
+      deletes = []
+  pure ()
+
+convertibleWithLateBoardApproval : CT.OcfCreateData
+convertibleWithLateBoardApproval =
+  case convertibleSuccessorIssuance "CV-LATE-BOARD" "CSEC-LATE-BOARD" "SH-1" jan01 100.0 of
+    CT.OcfCreateConvertibleIssuance issuance ->
+      CT.OcfCreateConvertibleIssuance (issuance with board_approval_date = Some jan02)
+    _ -> error "Expected convertible issuance"
+
+equityCompensationWithLateStockholderApproval : CT.OcfCreateData
+equityCompensationWithLateStockholderApproval =
+  case equityCompensationSuccessorIssuance "EC-LATE-STOCKHOLDER" "ECSEC-LATE-STOCKHOLDER" "SH-1" jan01 100.0 of
+    CT.OcfCreateEquityCompensationIssuance issuance ->
+      CT.OcfCreateEquityCompensationIssuance (issuance with stockholder_approval_date = Some jan02)
+    _ -> error "Expected equity compensation issuance"
+
+warrantWithLateStockholderApproval : CT.OcfCreateData
+warrantWithLateStockholderApproval =
+  case warrantSuccessorIssuance "WR-LATE-STOCKHOLDER" "WSEC-LATE-STOCKHOLDER" "SH-1" jan01 100.0 of
+    CT.OcfCreateWarrantIssuance issuance ->
+      CT.OcfCreateWarrantIssuance (issuance with stockholder_approval_date = Some jan02)
+    _ -> error "Expected warrant issuance"
+
+issuerAdjustment : Text -> Optional Time -> Optional Time -> IssuerAuthorizedSharesAdjustmentOcfData
+issuerAdjustment adjustmentId boardApprovalDate stockholderApprovalDate =
+  IssuerAuthorizedSharesAdjustmentOcfData with
+    id = adjustmentId
+    date = jan01
+    issuer_id = "ISSUER_1"
+    new_shares_authorized = 200_000_000.0
+    board_approval_date = boardApprovalDate
+    stockholder_approval_date = stockholderApprovalDate
+    comments = []
+
+stockClassAdjustment : Optional Time -> Optional Time -> StockClassAuthorizedSharesAdjustmentOcfData
+stockClassAdjustment boardApprovalDate stockholderApprovalDate =
+  StockClassAuthorizedSharesAdjustmentOcfData with
+    id = "SC-ADJ-LATE-APPROVAL"
+    date = jan01
+    stock_class_id = "SC_COMMON"
+    new_shares_authorized = 2_000_000.0
+    board_approval_date = boardApprovalDate
+    stockholder_approval_date = stockholderApprovalDate
+    comments = []
+
+stockPlanAdjustment : Optional Time -> Optional Time -> StockPlanPoolAdjustmentOcfData
+stockPlanAdjustment boardApprovalDate stockholderApprovalDate =
+  StockPlanPoolAdjustmentOcfData with
+    id = "PLAN-ADJ-LATE-APPROVAL"
+    date = jan01
+    stock_plan_id = "PLAN-APPROVAL-DATES"
+    shares_reserved = 1_200.0
+    board_approval_date = boardApprovalDate
+    stockholder_approval_date = stockholderApprovalDate
+    comments = []
+
+valuation : Optional Time -> Optional Time -> ValuationOcfData
+valuation boardApprovalDate stockholderApprovalDate =
+  ValuationOcfData with
+    id = "VALUATION-LATE-APPROVAL"
+    effective_date = jan01
+    price_per_share = OcfMonetary with amount = 1.0, currency = "USD"
+    stock_class_id = "SC_COMMON"
+    valuation_type = OcfValuationType409A
+    comments = []
+    board_approval_date = boardApprovalDate
+    provider = None
+    stockholder_approval_date = stockholderApprovalDate
+
+testApprovalDateConsistency_ConvertibleLateBoardApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addDefaultStakeholder issuer cap_table
+  assertCreateFails issuer capTable convertibleWithLateBoardApproval
+
+testApprovalDateConsistency_EquityCompensationLateStockholderApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addDefaultStakeholder issuer cap_table
+  assertCreateFails issuer capTable equityCompensationWithLateStockholderApproval
+
+testApprovalDateConsistency_IssuerAdjustmentLateBoardApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  assertCreateFails issuer cap_table (CT.OcfCreateIssuerAuthorizedSharesAdjustment (issuerAdjustment "ISSUER-ADJ-LATE-BOARD" (Some jan02) None))
+
+testApprovalDateConsistency_StockClassAdjustmentLateStockholderApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addDefaultStockClass issuer cap_table
+  assertCreateFails issuer capTable (CT.OcfCreateStockClassAuthorizedSharesAdjustment (stockClassAdjustment None (Some jan02)))
+
+testApprovalDateConsistency_StockIssuanceLateBoardApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addPrerequisites issuer cap_table
+  let issuance = (defaultStockIssuance "STOCK-LATE-BOARD" "SSEC-LATE-BOARD" "SH-1" "SC_COMMON") with
+        board_approval_date = Some jan02
+  assertCreateFails issuer capTable (CT.OcfCreateStockIssuance issuance)
+
+testApprovalDateConsistency_StockPlanAdjustmentLateStockholderApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addDefaultStockClass issuer cap_table
+  result <- submit issuer do
+    exerciseCmd capTable CT.UpdateCapTable with
+      creates = [CT.OcfCreateStockPlan (defaultStockPlan "PLAN-APPROVAL-DATES" "SC_COMMON")]
+      edits = []
+      deletes = []
+  assertCreateFails issuer result.updatedCapTableCid (CT.OcfCreateStockPlanPoolAdjustment (stockPlanAdjustment None (Some jan02)))
+
+testApprovalDateConsistency_ValuationLateBoardApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addDefaultStockClass issuer cap_table
+  assertCreateFails issuer capTable (CT.OcfCreateValuation (valuation (Some jan02) None))
+
+testApprovalDateConsistency_WarrantLateStockholderApprovalFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addDefaultStakeholder issuer cap_table
+  assertCreateFails issuer capTable warrantWithLateStockholderApproval
+
+testApprovalDateConsistency_ApprovalsOnTransactionDateSucceed = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  capTable <- addPrerequisites issuer cap_table
+  let issuance = (defaultStockIssuance "STOCK-SAME-DAY-APPROVAL" "SSEC-SAME-DAY-APPROVAL" "SH-1" "SC_COMMON") with
+        board_approval_date = Some jan01
+        stockholder_approval_date = Some jan01
+
+  _ <- submit issuer do
+    exerciseCmd capTable CT.UpdateCapTable with
+      creates = [CT.OcfCreateStockIssuance issuance]
+      edits = []
+      deletes = []
+  pure ()
+
+testApprovalDateConsistency_EditIsRevalidated = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  let validAdjustment = issuerAdjustment "ISSUER-ADJ-EDIT-APPROVAL" (Some jan01) None
+  result <- submit issuer do
+    exerciseCmd cap_table CT.UpdateCapTable with
+      creates = [CT.OcfCreateIssuerAuthorizedSharesAdjustment validAdjustment]
+      edits = []
+      deletes = []
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates = []
+      edits = [CT.OcfEditIssuerAuthorizedSharesAdjustment (validAdjustment with board_approval_date = Some jan02)]
+      deletes = []
+  pure ()

Test/daml/OpenCapTable/TestIssuerAuthorizedSharesAdjustment.daml

@@ -66,8 +66,8 @@ testIssuerAuthorizedSharesAdjustment_OptionalsSome = script do
         date = DT.time (DA.date 2024 Jan 02) 0 0 0
         issuer_id = "ISSUER_1"
         new_shares_authorized = 2500.0
-        board_approval_date = Some (DT.time (DA.date 2024 Jan 03) 0 0 0)
-        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 04) 0 0 0)
+        board_approval_date = Some (DT.time (DA.date 2024 Jan 01) 0 0 0)
+        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 02) 0 0 0)
         comments = ["Increase"]]
       edits = []
       deletes = []

Test/daml/OpenCapTable/TestStockClassAuthorizedSharesAdjustment.daml

@@ -74,8 +74,8 @@ testCreateAndArchiveStockClassAuthorizedSharesAdjustmentBuiltIn = script do
         date = DT.time (DA.date 2024 Jan 02) 0 0 0
         stock_class_id = "SC_COMMON_2"
         new_shares_authorized = 1_500_000.0
-        board_approval_date = Some (DT.time (DA.date 2024 Jan 03) 0 0 0)
-        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 05) 0 0 0)
+        board_approval_date = Some (DT.time (DA.date 2024 Jan 01) 0 0 0)
+        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 02) 0 0 0)
         comments = ["Authorized change"]]
       edits = []
       deletes = []

Test/daml/OpenCapTable/TestStockPlanPoolAdjustment.daml

@@ -53,8 +53,8 @@ testStockPlanPoolAdjustment_OptionalsSome = script do
         id = "TX_STOCK_PLAN_POOL_ADJ_2"
         date = DT.time (DA.date 2024 Jan 02) 0 0 0
         stock_plan_id = "PLAN_1"
-        board_approval_date = Some (DT.time (DA.date 2024 Jan 03) 0 0 0)
-        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 04) 0 0 0)
+        board_approval_date = Some (DT.time (DA.date 2024 Jan 01) 0 0 0)
+        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 02) 0 0 0)
         shares_reserved = 1750.0
         comments = ["Top up"]]
       edits = []