SEC Comment Letter for CALIFORNIA FIRST LEASING CORP (CFNB) (CIK 0000803016) (CFNB) — Feb 1, 2008
CALIFORNIA FIRST LEASING CORP (CFNB) (CIK 0000803016)
Date: Feb. 1, 2008 · CIK: 0000803016 · Accession: 0000000000-08-005870
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 000-15641
Letter
Mail Stop 4561 January 30, 2008 Patrick E. Paddon Chief Executive Officer California First National Bancorp 18201 Von Karman Avenue, Suite 800 Irvine, CA 92612 Re: California First National Bancorp Form 10-K Filed September 17, 2007 File No. 000-15641
Dear Mr. Paddon:
We have reviewed your filing and have the following comments. Where indicated, we think you should re vise your document in response to these comments. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary. Please be as de tailed as necessary in your explanation.
Please understand that the purpose of our re view process is to assist you in your compliance with the applicable disclosure requirements and to enhance the overall disclosure in your filing. We look forward to working with you in these respects. We welcome any questions you may have about our comments or any other aspect of our review. Feel free to call us at the telephone numbers listed at the end of this letter.
1. Please amend to include the disclosures on related party tran sactions required by Item 404 of Regulation S-K. We note the statement that such disclosure is incorporated by reference to the prox y statement; however, we do not find the disclosure in the defi nitive proxy materials filed on October 3, 2007. 2. Please amend the signature page to id entify either the Principal Accounting Officer or the Controll er, as required by Item 601 of Regulation S-K.
As appropriate, please amend your filing and respond to these comments within 10 business days or tell us when you will provid e us with a response. You may wish to provide us with marked copies of the amendm ent to expedite our review. Please furnish a cover letter with your amendment that keys your responses to our comments and provides any requested information. Detailed co ver letters greatly faci litate our review.
Patrick E. Paddon California First National Bancorp Form 10-K filed September 17, 2007 January 30, 2008
Please understand that we may have addi tional comments after reviewing your amendment and responses to our comments. We urge all persons who are responsi ble for the accuracy an d adequacy of the disclosure in the filing to be certain that the filing includes all in formation required under the Securities Exchange Act of 1934 and th at they have provided all information investors require for an informed invest ment decision. Since the company and its management are in possession of all facts re lating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. In connection with responding to our comments, please provide, in writing, a statement from the company 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.
In addition, please be advise d that the Division of Enfo rcement has access to all information you provide to the staff of the Divi sion of Corporation Fi nance in our review of your filing or in response to our comments on your filing. Please contact Jessica Livingston at 202-551-3448 or me at with any other questions. Sincerely,
Christian Windsor Special Counsel Financial Services Group
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Mail Stop 4561 January 30, 2008 Patrick E. Paddon Chief Executive Officer California First National Bancorp 18201 Von Karman Avenue, Suite 800 Irvine, CA 92612 Re: California First National Bancorp Form 10-K Filed September 17, 2007 File No. 000-15641 Dear Mr. Paddon: We have reviewed your filing and have the following comments. Where indicated, we think you should re vise your document in response to these comments. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary. Please be as de tailed as necessary in your explanation. Please understand that the purpose of our re view process is to assist you in your compliance with the applicable disclosure requirements and to enhance the overall disclosure in your filing. We look forward to working with you in these respects. We welcome any questions you may have about our comments or any other aspect of our review. Feel free to call us at the telephone numbers listed at the end of this letter. 1. Please amend to include the disclosures on related party tran sactions required by Item 404 of Regulation S-K. We note the statement that such disclosure is incorporated by reference to the prox y statement; however, we do not find the disclosure in the defi nitive proxy materials filed on October 3, 2007. 2. Please amend the signature page to id entify either the Principal Accounting Officer or the Controll er, as required by Item 601 of Regulation S-K. As appropriate, please amend your filing and respond to these comments within 10 business days or tell us when you will provid e us with a response. You may wish to provide us with marked copies of the amendm ent to expedite our review. Please furnish a cover letter with your amendment that keys your responses to our comments and provides any requested information. Detailed co ver letters greatly faci litate our review. Patrick E. Paddon California First National Bancorp Form 10-K filed September 17, 2007 January 30, 2008 Please understand that we may have addi tional comments after reviewing your amendment and responses to our comments. We urge all persons who are responsi ble for the accuracy an d adequacy of the disclosure in the filing to be certain that the filing includes all in formation required under the Securities Exchange Act of 1934 and th at they have provided all information investors require for an informed invest ment decision. Since the company and its management are in possession of all facts re lating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. In connection with responding to our comments, please provide, in writing, a statement from the company 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. In addition, please be advise d that the Division of Enfo rcement has access to all information you provide to the staff of the Divi sion of Corporation Fi nance in our review of your filing or in response to our comments on your filing. Please contact Jessica Livingston at 202-551-3448 or me at with any other questions. Sincerely, Christian Windsor Special Counsel Financial Services Group