Correspondence 0001437749-24-030612 from LGL GROUP INC (LGL)
LGL GROUP INC
Date: Oct. 3, 2024 · CIK: 0000061004 · Accession: 0001437749-24-030612
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-00106
Referenced dates: September 21, 2024
Letter
lglg20240923_corresp.htm
The LGL Group, Inc.
2525 Shader Road
Orlando, Florida 32804
Via EDGAR Transmission
October 3, 2024
U.S. Securities and Exchange Commission
Division of Corporation Finance, Office of Manufacturing
100 F Street, N.E.
Washington, D.C. 20549
Attention: Eiko Yaoita Pyles
Andrew Blume
Re: The LGL Group, Inc. (the "Company")
Form 10-K for the Year Ended December 31, 2023
Filed April 1, 2024
File No. 001-00106
Ladies and Gentlemen:
We hereby submit the Company’s response to the comments of the Staff (the "Staff") of the U.S. Securities and Exchange Commission (the "Commission") conveyed in a letter to the Company, dated September 21, 2024, in connection with the Staff’s review of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K"). For your convenience, we have reproduced the Staff’s comments in bold preceding our response.
Form 10-K for the Year Ended December 31, 2023
Business, page 1
1.
Please confirm whether the cash equivalents included on your balance sheet include any other type of asset other than money market funds that themselves rely on Rule 2a-7 of the Investment Company Act of 1940. If your cash equivalents do include other types of assets, please provide the additional types of cash equivalents that you hold.
Response: The Company’s cash equivalents included on its Balance Sheet only includes money market funds (in reliance on Rule 2a-7 of the Investment Company Act of 1940, as amended (the "Act")) as of December 31, 2023. The Company held investments in 3 money market funds (individually, "Fund 1," "Fund 2," and "Fund 3" and, collectively, the "Money Market Funds"). Based on our review of Form N-CSRS for Funds 1 and 3 and Form N-CSR for Fund 2 for the period including December 31, 2023, the Money Market Funds were registered as management investment companies under the Act. The Company does not hold any other cash equivalents other than the Money Market Funds.
U.S. Securities and Exchange Commission
October 3, 2024
Page 2
If you have any questions regarding the Company’s response to the Staff’s comments, please contact the undersigned via email at cnossokoff@lglgroup.com or by phone at (407) 298-2000.
Sincerely,
/s/ Christopher L. Nossokoff
Show Raw Text
CORRESP 1 filename1.htm lglg20240923_corresp.htm The LGL Group, Inc. 2525 Shader Road Orlando, Florida 32804 Via EDGAR Transmission October 3, 2024 U.S. Securities and Exchange Commission Division of Corporation Finance, Office of Manufacturing 100 F Street, N.E. Washington, D.C. 20549 Attention: Eiko Yaoita Pyles Andrew Blume Re: The LGL Group, Inc. (the "Company") Form 10-K for the Year Ended December 31, 2023 Filed April 1, 2024 File No. 001-00106 Ladies and Gentlemen: We hereby submit the Company’s response to the comments of the Staff (the "Staff") of the U.S. Securities and Exchange Commission (the "Commission") conveyed in a letter to the Company, dated September 21, 2024, in connection with the Staff’s review of the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K"). For your convenience, we have reproduced the Staff’s comments in bold preceding our response. Form 10-K for the Year Ended December 31, 2023 Business, page 1 1. Please confirm whether the cash equivalents included on your balance sheet include any other type of asset other than money market funds that themselves rely on Rule 2a-7 of the Investment Company Act of 1940. If your cash equivalents do include other types of assets, please provide the additional types of cash equivalents that you hold. Response: The Company’s cash equivalents included on its Balance Sheet only includes money market funds (in reliance on Rule 2a-7 of the Investment Company Act of 1940, as amended (the "Act")) as of December 31, 2023. The Company held investments in 3 money market funds (individually, "Fund 1," "Fund 2," and "Fund 3" and, collectively, the "Money Market Funds"). Based on our review of Form N-CSRS for Funds 1 and 3 and Form N-CSR for Fund 2 for the period including December 31, 2023, the Money Market Funds were registered as management investment companies under the Act. The Company does not hold any other cash equivalents other than the Money Market Funds. U.S. Securities and Exchange Commission October 3, 2024 Page 2 If you have any questions regarding the Company’s response to the Staff’s comments, please contact the undersigned via email at cnossokoff@lglgroup.com or by phone at (407) 298-2000. Sincerely, /s/ Christopher L. Nossokoff Christopher L. Nossokoff Vice President - Finance cc: Marc J. Gabelli, Co-Chief Executive Officer Timothy Foufas, Co-Chief Executive Officer The LGL Group, Inc. Jonathan Zuckerman, Partner, PKF O'Connor Davies, LLP Taylor K. Wirth, Partner, Barnes & Thornburg LLP