SEC Comment Letter for GREG MANNING AUCTIONS INC (CIK 0000895516) — Feb 1, 2005
GREG MANNING AUCTIONS INC (CIK 0000895516)
Date: Feb. 1, 2005 · CIK: 0000895516 · Accession: 0000000000-05-005211
AI Filing Summary & Sentiment
Letter
Mail Stop 0409 VIA U.S. MAIL and FAX (973) 882-2981 Mr. Larry Crawford Chief Financial Officer Greg Manning Auctions, Inc. 775 Passaic Avenue West Caldwell, NJ 07006
Re: Greg Manning Auctions, Inc. Form 10-K for the year ended June 30, 2004 File No. 1-11988
Dear Mr. Crawford:
We have reviewed your January 26, 2005 response letter and have the following additional comments.
Form 10-K filed September 10, 2004
Notes to Consolidated Financial Statements, page 37
(1) Description of Business and Summary of Significant Accounting Policies
Inventories, page 39
1. Please confirm our understanding of your response to comment 1 that items are subject to a write-down using either one of the two methods applied consistently.
2. How often are strategic marketing plans giving rise to exceptions with the aging methodology? In this regard, please clarify for us and in future filings disclose the method used to write-down inventory subject to a marketing strategy to sell the goods over time.
As appropriate, please respond to these comments within 10 business days or tell us when you will provide us with a response. Please file your response on EDGAR. Please understand that we may have additional comments after reviewing your responses to our comments.
You may contact Monica Brame, Staff Accountant, at (202) 824- 5492 or me at (202) 942-1852 with any other questions.
Sincerely,
Donna Di Silvio
Senior Staff Accountant
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<FILENAME>filename1.txt
<TEXT>
February 1, 2005
Mail Stop 0409
VIA U.S. MAIL and FAX (973) 882-2981
Mr. Larry Crawford
Chief Financial Officer
Greg Manning Auctions, Inc.
775 Passaic Avenue West
Caldwell, NJ 07006
Re: Greg Manning Auctions, Inc.
Form 10-K for the year ended June 30, 2004
File No. 1-11988
Dear Mr. Crawford:
We have reviewed your January 26, 2005 response letter and
have
the following additional comments.
Form 10-K filed September 10, 2004
Notes to Consolidated Financial Statements, page 37
(1) Description of Business and Summary of Significant Accounting
Policies
Inventories, page 39
1. Please confirm our understanding of your response to comment 1
that items are subject to a write-down using either one of the two
methods applied consistently.
2. How often are strategic marketing plans giving rise to
exceptions
with the aging methodology? In this regard, please clarify for
us
and in future filings disclose the method used to write-down
inventory subject to a marketing strategy to sell the goods over
time.
As appropriate, please respond to these comments within 10
business days or tell us when you will provide us with a response.
Please file your response on EDGAR. Please understand that we may
have additional comments after reviewing your responses to our
comments.
You may contact Monica Brame, Staff Accountant, at (202)
824-
5492 or me at (202) 942-1852 with any other questions.
Sincerely,
Donna Di Silvio
Senior Staff Accountant
??
??
??
??
Greg Manning Auctions, Inc.
February 1, 2005
Page 1
</TEXT>
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