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<?php define("EFFECTIVEDATE", ''); if (empty(EFFECTIVEDATE)) {echo 'value="' . now() . '"';} else {echo EFFECTIVEDATE;} ?>
Finding entry points
Branch analysis from position: 0
Jump found. Position 1 = 7, Position 2 = 13
Branch analysis from position: 7
Jump found. Position 1 = 15
Branch analysis from position: 15
Jump found. Position 1 = -2
Branch analysis from position: 13
Jump found. Position 1 = -2
filename:       /in/tGW0t
function name:  (null)
number of ops:  16
compiled vars:  none
line     #* E I O op                           fetch          ext  return  operands
-------------------------------------------------------------------------------------
   2     0  E >   INIT_FCALL                                               'define'
         1        SEND_VAL                                                 'EFFECTIVEDATE'
         2        SEND_VAL                                                 ''
         3        DO_ICALL                                                 
   3     4        FETCH_CONSTANT                                   ~1      'EFFECTIVEDATE'
         5        BOOL_NOT                                         ~2      ~1
         6      > JMPZ                                                     ~2, ->13
         7    >   INIT_FCALL_BY_NAME                                       'now'
         8        DO_FCALL                                      0  $3      
         9        CONCAT                                           ~4      'value%3D%22', $3
        10        CONCAT                                           ~5      ~4, '%22'
        11        ECHO                                                     ~5
        12      > JMP                                                      ->15
   4    13    >   FETCH_CONSTANT                                   ~6      'EFFECTIVEDATE'
        14        ECHO                                                     ~6
        15    > > RETURN                                                   1

Generated using Vulcan Logic Dumper, using php 7.1.0