def test_retire_stock_deauth():
"""Test that we can set up a class of stock that deauthorizes retired
shares of stock
"""
pg = Person("Peter Gregory")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
# Amend common stock to disallow reissue of retired stock
class CommonStock2(CommonStock):
class MetaState(CommonStock.MetaState):
DEAUTH_RETIRED = True
table.record(None, CommonStock2.auth())
# Retire stock
table.record(None, CommonStock2.retire('CS-1'))
cs1 = table[CommonStock2]["CS-1"]
assert cs1.cancelled
# Deauthorized retired shares
metastate = table[CommonStock2]
assert metastate.authorized == 4000
assert metastate.issued == 0
assert metastate.outstanding == 0
assert metastate.issuable == 4000
def test_issuance_by_cert_no():
"""Issuing stock with a cert_no should allow us to identify specific
issuances by that cert_no and that certain attributes are set on the
certificate.
"""
pg = Person("Peter Gregory")
gb = Person("Gavin Belson")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
table.record(None, CommonStock.issue(holder=gb,
amount=2000, cert_no="CS-2"))
cs1 = table[CommonStock]["CS-1"]
assert cs1.cert_no == "CS-1"
assert cs1.holder == pg
assert cs1.amount == 1000
assert cs1.cert_name == "Peter Gregory"
assert not cs1.cancelled
cs2 = table[CommonStock]["CS-2"]
assert cs2.cert_no == "CS-2"
assert cs2.holder == gb
assert cs2.amount == 2000
assert cs2.cert_name == "Gavin Belson"
assert not cs2.cancelled
def test_cancel():
"""Should be able to cancel an old certificate"""
pg = Person("Peter Gregory")
gb = Person("Gavin Belson")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
table.record(None, CommonStock.issue(holder=gb,
amount=2000, cert_no="CS-2"))
table.record(None, CommonStock.cancel(cert_no="CS-1"))
# CS-1 is still accessible but should show up as canceled
cs1 = table[CommonStock]["CS-1"]
assert cs1.cert_no == "CS-1"
assert cs1.holder == pg
assert cs1.amount == 1000
assert cs1.cert_name == "Peter Gregory"
assert cs1.cancelled
# Issued / outsanding numbers should change
metastate = table[CommonStock]
assert metastate.issued == 2000
assert metastate.outstanding == 2000
assert metastate.issuable == 3000
def test_excess_auth():
"""Should not be able to issue stock in excess of authorization"""
# Disable validators so we can test transaction is at work, not validators
table = CapTable(validators=[])
pg = Person("Peter Gregory")
gb = Person("Gavin Belson")
table.record(None, CommonStock.auth(1000))
table.record(None, CommonStock.issue(holder=pg, amount=500))
with pytest.raises(AssertionError):
table.record(None, CommonStock.issue(holder=gb, amount=501))
def test_non_unique_cert_no():
"""Should not be able to re-use a cert_no while it is still in use
"""
pg = Person("Peter Gregory")
gb = Person("Gavin Belson")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
with pytest.raises(ValueError):
table.record(None, CommonStock.issue(holder=pg,
amount=2000, cert_no="CS-1"))
def test_issuance_outstanding_amounts():
"""Issuing stock should update issued, outstanding, and issuable numbers
accordingly"""
pg = Person("Peter Gregory")
gb = Person("Gavin Belson")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg, amount=1000))
table.record(None, CommonStock.issue(holder=gb, amount=2000))
assert table[CommonStock].issued == 3000
assert table[CommonStock].outstanding == 3000
assert table[CommonStock].issuable == 2000
def test_auth_before_issue():
"""Should not be able to issue stock before authorizing it"""
# Disable validators so we can test transaction is at work, not validators
table = CapTable(validators=[])
holder = Person("Peter Gregory")
with pytest.raises(RuntimeError):
table.record(None, CommonStock.issue(holder=holder, amount=1000))
def test_retire_stock_reissuable():
"""Test that retiring stock works allows for stock to be re-issuable again
by default"""
pg = Person("Peter Gregory")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
# Retire stock
table.record(None, CommonStock.retire('CS-1'))
cs1 = table[CommonStock]["CS-1"]
assert cs1.cancelled
# Still authorized
metastate = table[CommonStock]
assert metastate.authorized == 5000
assert metastate.issued == 0
assert metastate.outstanding == 0
assert metastate.issuable == 5000
def test_treasury_stock():
"""Should be able to reclaim stock as treasury shares"""
pg = Person("Peter Gregory")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
table.record(None, CommonStock.transfer(cert_no="CS-1", to=None))
# Holder updated but certificate is not necessarily cancelled
cs1 = table[CommonStock]["CS-1"]
assert cs1.holder == None
assert not cs1.cancelled
# Oustanding number should be updated though
metastate = table[CommonStock]
assert metastate.issued == 1000
assert metastate.outstanding == 0
# Treasury stock should be re-issuable.
assert metastate.issuable == 5000
def test_transfer_cert():
"""Should be able to transfer a particular stock certificate from one
holder to another. This is used to note that the actual certificate has
been handed off from one party to another, but that the name on the
certificate (or in the books) has not necessarily changed.
"""
pg = Person("Peter Gregory")
gb = Person("Gavin Belson")
table = CapTable()
table.record(None, CommonStock.auth(5000))
table.record(None, CommonStock.issue(holder=pg,
amount=1000, cert_no="CS-1"))
table.record(None, CommonStock.transfer(cert_no="CS-1", to=gb))
cs1 = table[CommonStock]["CS-1"]
assert cs1.cert_no == "CS-1"
assert cs1.holder == gb
assert cs1.amount == 1000
assert cs1.cert_name == "Peter Gregory" # This does not change because
# we need to cancel and re-issue
# a new certificate to change name
assert not cs1.cancelled