Initial Letter Date |
Form filed |
Market Capitalization |
12/02/2013 |
10-Q/A |
$ 11.69 M |
We note your disclosure describing your decision to amend your June 30, 2013 Form 10- Q to revise the amount of the deferred tax valuation allowance reversal. In order to better understand your accounting treatment and the decision to restate your financial statements please provide us with the following and consider the need to revise your disclosures accordingly: The amount of your deferred tax asset and deferred tax asset valuation allowance at June 30, 2013, before and after the restatement; A significantly enhanced discussion of the events that led to the re-evaluation of your accounting and ultimately the restatement of your Form 10-Q for the quarterly period ended June 30, 2013; A significantly enhanced discussion of your accounting both before and after the restatement, highlighting the key changes between the two, the underlying reasons for the differences in accounting and the specific authoritative literature to support your current accounting; and A discussion of any impact on comparability between periods. |