>But he left a little bit of his company behind. Space Florida recorded the Rivian warrant agreements in its financial statement for the year 2013. The first wa

>But he left a little bit of his company behind. Space Florida recorded the Rivian warrant agreements in its financial statement for the year 2013. The first warrant for 100 shares, it noted, “is estimated to equal a 1% ownership interest” in the company. The second, for 200, “is equal to a 2% ownership interest.” Space Florida believed its 300 shares represented a full 3% of the young startup, albeit one whose future was still uncertain. > All the while, Space Florida assumed that it still owned 3% of Rivian, according to public financial statements filed as late as October 2020. >The warrants were finally executed in late 2020. The latest financial statement, issued by Space Florida in October, now shows the agency holding just 60,000 Rivian shares, worth less than $7 million. That is about 500 times less than a 3% stake would represent and less than half of what Space Florida would have earned if it had simply invested in the Nasdaq instead of Rivian a decade ago. how the f do you mess up accounting for assets that badly? the auditors need to be shot!