SEC Comment Letter for TaoWeave, Inc. (TWAV) (CIK 0000746210) (TWAV) — Nov 29, 2016
TaoWeave, Inc. (TWAV) (CIK 0000746210)
Date: Nov. 29, 2016 · CIK: 0000746210 · Accession: 0000000000-16-102758
AI Filing Summary & Sentiment
Reasoning
Letter
Mail Stop 3720 November 29, 2016 Peter Holst Chief Executive Officer Glowpoint, Inc. 1776 Lincoln Street, Suite 1300 Denver, CO 80203
Re: Glowpoint, Inc. Form 10 -K for Fiscal Year Ended December 31, 2015 Filed March 17, 2016 File No. 001 -35376
Dear Mr. Holst :
We have reviewed your filing and have the following comments. Please comply with the following comments in future filings. Confirm in writing that you will do so and explain to us how you intend to comply. In some of our comments, we may ask you to provide us with information so we may better understand your disclo sure.
Please respond to these comments within ten busine ss days by providing the requested information or advis e us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances , please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Annual Report filed on Form 10 -K
Management’s Discussion and Analysis of Financial Conditions and Results of Operation s
Results of Operations, page 17
1. We note your disclosure that 24% of the decrease of revenue in video collaboration services is attributed to net attrition of customers and “other factors.” In your future filings, please disclose the other factors that l ead to material decreases in revenue.
Peter Holst Glowpoint, Inc. November 29, 2016 Page 2
Definitive Proxy Statement on Schedule 14A
Executive Compensation, page 13
2. You state that Messrs. Holst and Clark are entitled to equity compensation based on the achievement of the Company’s financial targets over a period of three -years. In future filings, please discuss within this section the quantitative/objective performance targets and threshold levels that the compensation committee has set for this compensation.
We remind you that the company and its m anagement are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff.
Please contact William Mastrianna, Attorney -Adviser, at (202) 551 -3778, Celeste M. Murphy, Lega l Branch Chief, at (202) 551 -3257, or me at (202) 551 -3810 with any other questions.
Sincerely,
/s/ Celeste M. Murphy for
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Mail Stop 3720 November 29, 2016 Peter Holst Chief Executive Officer Glowpoint, Inc. 1776 Lincoln Street, Suite 1300 Denver, CO 80203 Re: Glowpoint, Inc. Form 10 -K for Fiscal Year Ended December 31, 2015 Filed March 17, 2016 File No. 001 -35376 Dear Mr. Holst : We have reviewed your filing and have the following comments. Please comply with the following comments in future filings. Confirm in writing that you will do so and explain to us how you intend to comply. In some of our comments, we may ask you to provide us with information so we may better understand your disclo sure. Please respond to these comments within ten busine ss days by providing the requested information or advis e us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances , please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Annual Report filed on Form 10 -K Management’s Discussion and Analysis of Financial Conditions and Results of Operation s Results of Operations, page 17 1. We note your disclosure that 24% of the decrease of revenue in video collaboration services is attributed to net attrition of customers and “other factors.” In your future filings, please disclose the other factors that l ead to material decreases in revenue. Peter Holst Glowpoint, Inc. November 29, 2016 Page 2 Definitive Proxy Statement on Schedule 14A Executive Compensation, page 13 2. You state that Messrs. Holst and Clark are entitled to equity compensation based on the achievement of the Company’s financial targets over a period of three -years. In future filings, please discuss within this section the quantitative/objective performance targets and threshold levels that the compensation committee has set for this compensation. We remind you that the company and its m anagement are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact William Mastrianna, Attorney -Adviser, at (202) 551 -3778, Celeste M. Murphy, Lega l Branch Chief, at (202) 551 -3257, or me at (202) 551 -3810 with any other questions. Sincerely, /s/ Celeste M. Murphy for Larry Spirgel Assistant Director AD Office 11 – Telecommunications