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Enterprising Investor

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Enterprising Investor

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Re: Enterprising Investor post# 428

Wednesday, 11/14/2018 8:36:36 AM

Wednesday, November 14, 2018 8:36:36 AM

Post# of 1836
The SEC showed Whitney Penn a pro forma cash flow spreadsheet prepared by an Austin UDF III borrower and a revised version of the same spreadsheet provided by UDF (see 9).

The SEC told Whitney Penn that they were misled about the spreadsheet, but prohibited Whitney Penn from asking UDF about it.

Can you say "smoking gun"?

Now, we all know why Whitney Penn notified UDF that they would not stand for reappointment. Only a select few knew the real reason.

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International

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