SECOND RUN / RESEARCH DELIVERY

Underwriting note / synthetic

BEP preparation / independent Second Run edition

SYNTHETIC FROZEN DILIGENCE / 2026-09-23T05:02:57.845Z

Snapshot review: ACCEPT

Synthetic example reviewer · 2026-09-23T05:02:57.844Z

Reviewed only the fictional contracts, receipts and reported dependency tests. No valuation or professional diligence opinion.

Review is bound to this exact target and dependency set. The name is operator-supplied, not identity-authenticated.

diligence-input · v1 · instruments · synthetic

Six relationships; what do they establish?

Six fictional counterparties with distinct contract, cash and acceptance states.

Authored record state: supported. Pinned inputs: source record.

diligence-note · v1 · conclusion · synthetic

Underwriting note / synthetic

The supplied $1.2m ARR assertion is not reconciled to the $180k active signed recurring consideration. Contracted amounts, cash, accepted deployments and independence tests retain different states.

Authored record state: draft. Pinned inputs: diligence-result@1.

diligence-result · v1 · diligence · synthetic

Customer-claim bridge

Six relationships support $180,000 in active signed annualized consideration on the supplied records, with one accepted instrument.

Inspect complete calculation / record data
{
  "accepted_instruments": 1,
  "as_of": "2026-09-22",
  "claimed_arr_usd": 1200000,
  "company": "EdgeWorks (fictional)",
  "contracted_customers": 2,
  "recipe": "diligence@1",
  "relationships": 6,
  "reported_cash_received_usd": 37000,
  "rows": [
    {
      "active": true,
      "annual_included_usd": 120000,
      "id": "C-101",
      "reason": "Active signed recurring consideration",
      "recurring": true
    },
    {
      "active": true,
      "annual_included_usd": 60000,
      "id": "C-102",
      "reason": "Active signed recurring consideration",
      "recurring": true
    },
    {
      "active": true,
      "annual_included_usd": 0,
      "id": "P-103",
      "reason": "Nonrecurring or nonbinding instrument",
      "recurring": false
    },
    {
      "active": true,
      "annual_included_usd": 0,
      "id": "M-104",
      "reason": "Nonrecurring or nonbinding instrument",
      "recurring": false
    },
    {
      "active": true,
      "annual_included_usd": 0,
      "id": "L-105",
      "reason": "Nonrecurring or nonbinding instrument",
      "recurring": false
    },
    {
      "active": false,
      "annual_included_usd": 0,
      "id": "C-106",
      "reason": "Unsigned, terminated, not started or expired",
      "recurring": false
    }
  ],
  "scope": "Supplied instrument classification. Signed annualized consideration is neither recognized revenue nor audited ARR. Cash is a supplied amount, not bank reconciliation.",
  "signed_annualized_usd": 180000,
  "tests": [
    {
      "acceptance": "Declared authorized work finishes within its floor. Expired permissions refuse. New tokens cannot be minted. Capture the exact dependency and exclusions.",
      "claim": "Customer work continues after loss of vendor control plane.",
      "evidence_refs": [],
      "id": "cut-control",
      "procedure": "Freeze one workload and permission lease; block vendor endpoints outside the runtime; restart the approved service; replay known work; retain external network and process observations.",
      "result": "not_run",
      "source_referenced_pass": false,
      "status": "NOT_RUN"
    },
    {
      "acceptance": "Original evidence stays intact; every changed result is attributable to model/configuration version; regressions remain visible.",
      "claim": "Customer can replace the model without losing decision evidence.",
      "evidence_refs": [],
      "id": "replace-model",
      "procedure": "Export the declared case; run a replacement configuration against the same permitted cases and cold-import the retained history.",
      "result": "not_run",
      "source_referenced_pass": false,
      "status": "NOT_RUN"
    },
    {
      "acceptance": "Payload matches the synthetic export fixture.",
      "claim": "The application exports a file.",
      "evidence_refs": [
        "synthetic-export-fixture@1"
      ],
      "id": "ui-export",
      "procedure": "Use an authored synthetic export action and compare the saved object to the intended payload.",
      "result": "pass",
      "source_referenced_pass": true,
      "status": "PASS"
    }
  ],
  "unbridged_usd": 1020000
}

Authored record state: supported. Pinned inputs: diligence-input@1.