SEC Comment Letter for NextTrip, Inc. (NTRP) (CIK 0000788611) (NTRP) — May 23, 2019
NextTrip, Inc. (NTRP) (CIK 0000788611)
Date: May 23, 2019 · CIK: 0000788611 · Accession: 0000000000-19-008906
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-38015
Letter
May 23, 2019 John Rice Chief Executive Officer Sigma Labs, Inc. 3900 Paseo del Sol Santa Fe, New Mexico 87507 Re:Sigma Labs, Inc. Form 10-K for Fiscal Year Ended December 31, 2018 Filed April 1, 2019 Form 10-Q for Fiscal Quarter Ended March 31, 2019 Filed May 15, 2019 File No. 001-38015 Dear Mr. Rice: We have reviewed your filing and have the following 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 these comments within ten business days by providing the requested information or advise 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. Form 10-K for Fiscal Year Ended December 31, 2018 Intellectual Property, page 14 1.Please disclose the duration of the patents in your intellectual property portfolio. Please see Item 101(h)(4)(vii) of Regulation S-K. Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities, page 25 2.Please expand your disclosure of market information to include the range of high and low bid information of your registered common stock for each full quarterly period over the last two fiscal years. Please see Item 201(a)(iii) of Regulation S-K.
FirstName LastNameJohn Rice Comapany NameSigma Labs, Inc. May 23, 2019 Page 2 FirstName LastName John Rice Sigma Labs, Inc. May 23, 2019 Page 2 Form 10-Q for Fiscal Quarter Ended March 31, 2019 Note 4 - Stockholders' Equity Deferred Compensation, page 9 3.Please provide us with a better understanding of the nature, terms, and recipients of the shares of common stock issued with restrictions that generated $78,000 in compensation expense for the first quarter of fiscal year 2019 and a prepaid asset of $225,000 as of March 31, 2019. In addition, please provide us with your analysis of your accounting for these transactions, including the specific reference to the authoritative literature. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Jenn Do, Staff Accountant, at (202) 551-3743 or Tracey Houser, Staff Accountant, at (202) 551-3736 if you have questions regarding comments on the financial statements and related matters. Please contact Sergio Chinos, Staff Attorney, at (202) 551- 7844 or Frank Pigott, Staff Attorney, at (202) 551-3570 with any other questions. Sincerely, Division of Corporation Finance Office of Manufacturing and Construction cc: Darren Freedman
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May 23, 2019
John Rice
Chief Executive Officer
Sigma Labs, Inc.
3900 Paseo del Sol
Santa Fe, New Mexico 87507
Re:Sigma Labs, Inc.
Form 10-K for Fiscal Year Ended December 31, 2018
Filed April 1, 2019
Form 10-Q for Fiscal Quarter Ended March 31, 2019
Filed May 15, 2019
File No. 001-38015
Dear Mr. Rice:
We have reviewed your filing and have the following 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 these comments within ten business days by providing the requested
information or advise 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.
Form 10-K for Fiscal Year Ended December 31, 2018
Intellectual Property, page 14
1.Please disclose the duration of the patents in your intellectual property portfolio. Please
see Item 101(h)(4)(vii) of Regulation S-K.
Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities, page 25
2.Please expand your disclosure of market information to include the range of high and low
bid information of your registered common stock for each full quarterly period over the
last two fiscal years. Please see Item 201(a)(iii) of Regulation S-K.
FirstName LastNameJohn Rice
Comapany NameSigma Labs, Inc.
May 23, 2019 Page 2
FirstName LastName
John Rice
Sigma Labs, Inc.
May 23, 2019
Page 2
Form 10-Q for Fiscal Quarter Ended March 31, 2019
Note 4 - Stockholders' Equity
Deferred Compensation, page 9
3.Please provide us with a better understanding of the nature, terms, and recipients of the
shares of common stock issued with restrictions that generated $78,000 in compensation
expense for the first quarter of fiscal year 2019 and a prepaid asset of $225,000 as of
March 31, 2019. In addition, please provide us with your analysis of your accounting
for these transactions, including the specific reference to the authoritative literature.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Jenn Do, Staff Accountant, at (202) 551-3743 or Tracey Houser, Staff
Accountant, at (202) 551-3736 if you have questions regarding comments on the financial
statements and related matters. Please contact Sergio Chinos, Staff Attorney, at (202) 551-
7844 or Frank Pigott, Staff Attorney, at (202) 551-3570 with any other questions.
Sincerely,
Division of Corporation Finance
Office of Manufacturing and
Construction
cc: Darren Freedman