I'f this is in the wrong area, kindly direct me to the right area I'm working with Ignition BY inductiveautomation, and trying to write a script that will update or insert based on the IF EXIST condition. I have a query that will insert a new record into my DB listed below, but now I want to be able to update the "setupsheet" if it already exist.

Code:
queryValue1 = event.source.parent.getComponent('MoldName').selectedStringValue
queryValue2 = event.source.parent.getComponent('MachineName').selectedStringValue
queryValue3 = event.source.parent.getComponent('Text Area').text
if system.gui.confirm("Steve! Are you sure you want to Save changes?", 
   "Save Changes"):      
      system.db.runPrepUpdate("INSERT INTO setup_sheetlist (MoldName,machineName,Setupsheet) VALUES ('%s','%s','%s')" % (queryValue1, queryValue2 , queryValue3), getKey=1)   

This is my query, its working in my DB but I'm a lost on how to implement it into the RunPrepUpdate,

    Code:
    IF EXISTS( SELECT * FROM setup_sheetlist WHERE moldname='100SCX-3' AND Machinename='MM11')
       UPDATE setup_sheetlist 
       SET  setupsheet ='updated value 3'
       WHERE moldname='100SCX-3' AND Machinename='MM11'

    ELSE
           INSERT INTO setup_sheetlist(MoldName,machineName,Setupsheet)
           VALUES('100SCX-3','MM11','TRIAL 2')

This is what I have so far, this gives me an error message

    queryValue1 = event.source.parent.getComponent('MoldName').selectedStringValue
queryValue2 = event.source.parent.getComponent('MachineName').selectedStringValue
queryValue3 = event.source.parent.getComponent('Text Area').text
if system.gui.confirm("Steve! Are you sure you want to Save changes?", 
    "Save Changes"):        

            system.db.runPrepUpdate("IF EXISTS( SELECT * FROM setup_sheetlist WHERE moldname='?' AND Machinename='?')UPDATE setup_sheetlist SET  setupsheet ='?'    WHERE moldname='?' AND Machinename='?'" ,[queryValue1,queryValue2,queryValue3,queryValue1,queryValue2] )
            ELSE 
            INSERT 
            INTO 
            setup_sheetlist (MoldName,machineName,Setupsheet)
            VALUES ('%s','%s','%s')" % (queryValue1, queryValue2 , queryValue3))

Error

Error: java.lang.Exception: java.lang.Exception: Error executing system.db.runPrepUpdate(IF EXISTS( SELECT * FROM setup_sheetlist WHERE moldname='?' AND Machinename='?')UPDATE setup_sheetlist       SET  setupsheet ='updated value 3'   WHERE moldname='?' AND Machinename='?', [100SCX-3, MM09, 100SCX-3, MM09], , , false, false)


   caused by Exception: Error executing system.db.runPrepUpdate(IF EXISTS( SELECT * FROM setup_sheetlist WHERE moldname='?' AND Machinename='?')UPDATE setup_sheetlist       SET  setupsheet ='updated value 3'   WHERE moldname='?' AND Machinename='?', [100SCX-3, MM09, 100SCX-3, MM09], , , false, false)
   caused by GatewayException: SQL error for "IF EXISTS( SELECT * FROM setup_sheetlist WHERE moldname='?' AND Machinename='?')UPDATE setup_sheetlist       SET  setupsheet ='updated value 3'   WHERE moldname='?' AND Machinename='?'": The index 1 is out of range.
   caused by SQLServerException: The index 1 is out of range.

Full Error report