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SEC Comment Letter for Ernexa Therapeutics Inc. (ERNA, ERNAW) (CIK 0000748592) (ERNA) — Apr 14, 2016

Ernexa Therapeutics Inc. (ERNA, ERNAW) (CIK 0000748592)
Date: April 14, 2016 · CIK: 0000748592 · Accession: 0000000000-16-072135

AI Filing Summary & Sentiment

Sentiment
Urgency
Document Type
Confidence
SEC Posture
Company Posture

Summary

Reasoning

Date
April 14, 2016
Author
/s/ Celeste M. Murphy for
Form
UPLOAD
Company
Ernexa Therapeutics Inc. (ERNA, ERNAW) (CIK 0000748592)

Letter

Mail Stop 3720 April 14, 2016 Ram Krishnan Chief Executive Officer NTN Buzztime, Inc. 2231 Rutherford Road, Suite 200 Carlsbad, California

Re: NTN Buzztime, Inc. Preliminary Proxy on Schedule 14A Filed April 7, 2016 File No. 001 -11460

Dear Mr. Krishnan :

We have reviewed your filing and have the following comment . In our comment, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this comment within ten busine ss days by amending your filing or by advising us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances , please tell us why in your response.

After reviewing your response and any amendment you may file in response to this comment , we may have additional comments.

Proposal 3 Amendment of Our Restated Certificate of Incorporation to Effect a Reverse Stock Split Immediately Followed by a Forwar d Stock Split of Our Outstanding Common Stock, page 8

1. We note the company intends to engage in a reverse split of the outstanding common stock at an exchange ratio of 1 -for-100 and, then, immediately following the reverse split, forward split the common s tock at a ratio between 2 -for-1 and 4 -for-1. Please expand your disclosure under this proposal to discuss why the board is taking this approach rather than requesting a range for the reverse split bring the outstanding shares to the desired amounts.

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 Exchange Act of 1934 and all applicable Exchange Act rules require. Since the company and its management are

Ram Krishnan NTN Buzztime, Inc. April 14, 2016 Page 2

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.

In responding to our comments, please provide a written statement from the compa ny acknowledging that:

 the company is responsible for the adequacy and accuracy of the disclosure in the filing;

 staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and

 the company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.

Please contact Emily C. Drazan, Staff Attorney at (202) 551 -3208, C eleste M. Murphy, Legal Branch Chief at (202) 551 -3257 or me at (202) 551 -3810 with any other questions.

Sincerely,
/s/ Celeste M. Murphy for

Show Raw Text
Mail Stop 3720

April 14, 2016

Ram Krishnan
Chief Executive Officer
NTN Buzztime, Inc.
2231 Rutherford Road, Suite 200
Carlsbad, California

Re: NTN Buzztime, Inc.
 Preliminary Proxy on Schedule 14A
Filed April 7, 2016
File No. 001 -11460

Dear Mr. Krishnan :

We have reviewed your filing and have the following comment .  In our comment, we
may ask you to provide us with information so we may better understand your disclosure.

Please respond to this comment  within ten busine ss days by amending your filing or by
advising us as soon as possible when you will respond.  If you  do not believe our comment
applies to your facts and circumstances , please tell us why in your response.

After reviewing your response and any amendment  you may file in response to this
comment , we may have additional comments.

Proposal 3
Amendment of Our Restated Certificate of Incorporation to Effect a Reverse Stock Split
Immediately Followed by a Forwar d Stock Split of Our Outstanding Common Stock, page 8

1. We note the company intends to engage in a reverse split  of the outstanding common
stock at an exchange ratio of 1 -for-100 and, then, immediately following the reverse split,
forward split the common s tock at a ratio between 2 -for-1 and 4 -for-1.  Please expand
your disclosure under this proposal to discuss why the board is taking this approach
rather than requesting a range for the reverse split bring the outstanding shares to the
desired amounts.

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 Exchange Act of
1934 and all applicable Exchange Act rules require.   Since the company and its management are

Ram Krishnan
NTN Buzztime, Inc.
April 14, 2016
Page 2

 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.

 In responding to our comments, please provide a written statement from the compa ny
acknowledging that:

 the company is responsible for the adequacy and accuracy of the disclosure in the filing;

 staff comments or changes to disclosure in response to staff comments do not foreclose
the Commission from taking any action with respect to the filing; and

 the company may not assert staff comments as a defense in any proceeding initiated by
the Commission or any person under the federal securities laws of the United States.

Please contact Emily C. Drazan, Staff Attorney  at (202) 551 -3208, C eleste M. Murphy,
Legal 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