Spino, the funny thing about a certain poster's post was when he stated there was NO way for the auditor to have the audit complete on time. I worked for a company that owned 106 apartment complexes nation wide, totalling 25,000 units. Several years ago the owner of the company decided he wanted to become a REIT. Of course this required having an audit. We used a company with the initials DT to do audit. The audit, which I might add was far more difficult than spng's is took less than one month. They don't just send out 2 or 3 people to work on the audit. They send out a team of at least 6 plus they have managers, in our case because it was in Los Angeles, fly out once a week for team meetings. Not to mention this is not 1950, there are wonderful things you can do with the computers now a days.
Unfortunately our timing was exactly wrong, the RE market started to drop, and we did not go forward. As stated though DT completed the audit between 3 and 4 weeks.
If someone shorted spng first thing Monday, how did they do?
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