SEC Comment Letter for AgEagle Aerial Systems Inc. (UAVS) (CIK 0000008504) (UAVS) — Oct 9, 2014
AgEagle Aerial Systems Inc. (UAVS) (CIK 0000008504)
Date: Oct. 9, 2014 · CIK: 0000008504 · Accession: 0000000000-14-050813
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File numbers found in text: 333-198949
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October 9, 2014 Via E -mail Robert G. Watson, Jr. Chief Executive Officer EnerJex Resources, Inc. 4040 Broadway, Suite 508 San Antonio, TX 78209 Re: EnerJex Resources, Inc. Registration Statement on Form S-1 Filed September 25, 2014 File No. 333-198949 Dear Mr. Watson : We have limited our review of your registration statement to those issues we have addressed in our comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information . Where you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments , we may have additional comments. Registration Statement on Form S -1 General 1. Please revise your filing to provide the information about the interests of named experts and counsel required by Item 509 of Regulation S -K with regard to Michael E. Pfau and the Pfau Revocable Trust of 2003. Index to Exhibits, page II -5 2. Please provide as Exhibit 5.1 the legality opinion required by Item 601(b)(5) of Regulation S -K. We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain that the filing includes the information the Securities Act of 193 3 and Robert G. Watson, Jr. EnerJex Resources, Inc. October 9, 2014 Page 2 all applicable Securities Act rules require. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. Notwithstanding our comments, in the event you request acceleration of the effective date of the pending registration statement please provide a written statement from the company acknowledging that: should the Commission or the staff, acting pursuant to delegated authority, declare the filing effective, it does not foreclose the Commission from taking any action with respect to the filing; the action of the Commission or the staff, acting pursuant t o delegated authority, in declaring the filing effective, does not relieve the company from its full responsibility for the adequacy and accuracy of the disclosure in the filing; and the company may not assert staff comments and the declaration of effect iveness as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Please refer to Rules 460 and 461 regarding requests for acceleration . We will consider a written request for acceler ation of the effective date of the registration statement as confirmation of the fact that those requesting acceleration are aware of their respective responsibilities under the Securities Act of 1933 and the Securities Exchange Act of 1934 as they relate to the proposed public offering of the securities specified in the above registration statement. Please allow adequate time for us to review any amendment prior to the requested effective date of the registration statement. Please contact Norman von Holtzendorff, Senior Counsel, at (202) 551 -3237 or me at (202) 551 -3740 with any other questions. Sincerely, /s/H. Roger Schwall H. Roger Schwall Assistant Director