crashman,
The fact that Spongetech would reach out 2,000-plus miles for an auditor is a major red flag in my view. If you want to enhance financial reporting transparency, you'd ideally want your auditor to be located in the same building as the one you're located in. And somehow, SPNG can't find an auditor to do this work in the New York, northern NJ and suburban CT areas?
Robinson has its hands full, and they and Spongetech both know it. My guess is that Robinson has been camped out at Spongetech's New York office for more than a month now, with a partner from Robinson and at least one or two junior-level accountants preparing work papers and doing field testing just to see if Robinson would be wiling to accept the engagement. Spongetech knew that work would have to be done to support an audit in any case, and if things didn't work out with Robinson, they would have been able to use those workpapers for the next auditor who came in.
Again, all just fwiw and one man's opinion.
