SEC Comment Letter for ENDOCARE INC (CIK 0001003464) — Aug 17, 2005
ENDOCARE INC (CIK 0001003464)
Date: Aug. 17, 2005 · CIK: 0001003464 · Accession: 0000000000-05-042639
AI Filing Summary & Sentiment
Referenced dates: June 17, 2005
Letter
Mail Stop 6010 August 4, 2005 Michael R. Rodriguez Senior Vice President, Finance and Chief Executive Officer Endocare, Inc. 201 Technology Drive Irvine, California 92618
Re: Endocare, Inc. Draft of Amendment to Annual Report on Form 10-K For the fiscal year ended December 31, 2004 Provided July 27, 2005 File No. 0-27212
Dear Mr. Rodriguez:
We have reviewed your draft and have the following comments. Where indicated, we think you should revise 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 detailed as necessary in your explanation. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. After reviewing this information, we may raise additional comments.
Draft of Amendment to Form 10-K for the Fiscal Year Ended December 31, 2004
Health care regulatory issues, page 13 1. Please revise the third paragraph to clarify whether you have described all material requirements. 2. Clarify what you mean in the second full paragraph on page 13 where you state that your activities "will" comply with the laws. Why don`t they comply now?
Legal Proceedings, page 25 3. Please identify the "corporate governance measures" mentioned in the fourth paragraph.
Contractual Obligations 4. Please provide a table of contractual obligations that discloses all of your purchase obligations.
Consolidated Financial Statements, page F-1
5. We note that you restated your financial statements to include the gain (loss) on divestitures within your loss from operations. Please tell us why you did not label the financial statements as restated, disclose the reasons for the revision in a note to the financial statements and provide the other disclosures required by paragraph of APB 20. Please also tell us why your auditors do not refer to restatement in the auditor`s report and dual date the report.
6. Please refer to comments six and seven in our letter dated June 17, 2005. Please amend your 10-K to include the following:
* The segment disclosures required by paragraph 37 of SFAS 31;
* The separate disclosure of bundled service revenue on the face of the income statement as required by Rule 5-03(b) of Regulation S- X; and
* An explanatory note regarding why it is impracticable to separately disclose the cost of services.
You may contact Eric Atallah at (202) 551-3663 or Kaitlan Tillan, Assistant Chief Accountant, at (202) 551-3604 if you have questions regarding comments on the financial statements and related matters. Please contact Tom Jones at (202) 551-3602 or me at (202) 551-3617 with any other questions.
Sincerely,
Russell Mancuso
Branch Chief
Show Raw Text
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Mail Stop 6010
August 4, 2005
Michael R. Rodriguez
Senior Vice President, Finance and
Chief Executive Officer
Endocare, Inc.
201 Technology Drive
Irvine, California 92618
Re: Endocare, Inc.
Draft of Amendment to Annual Report on Form 10-K
For the fiscal year ended December 31, 2004
Provided July 27, 2005
File No. 0-27212
Dear Mr. Rodriguez:
We have reviewed your draft and have the following comments.
Where indicated, we think you should revise 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 detailed as necessary in your
explanation.
In some of our comments, we may ask you to provide us with
information so we may better understand your disclosure. After
reviewing this information, we may raise additional comments.
Draft of Amendment to Form 10-K for the Fiscal Year Ended December
31, 2004
Health care regulatory issues, page 13
1. Please revise the third paragraph to clarify whether you have
described all material requirements.
2. Clarify what you mean in the second full paragraph on page 13
where you state that your activities "will" comply with the laws.
Why don`t they comply now?
Legal Proceedings, page 25
3. Please identify the "corporate governance measures" mentioned
in
the fourth paragraph.
Contractual Obligations
4. Please provide a table of contractual obligations that
discloses
all of your purchase obligations.
Consolidated Financial Statements, page F-1
5. We note that you restated your financial statements to include
the
gain (loss) on divestitures within your loss from operations.
Please
tell us why you did not label the financial statements as
restated,
disclose the reasons for the revision in a note to the financial
statements and provide the other disclosures required by paragraph
37
of APB 20. Please also tell us why your auditors do not refer to
restatement in the auditor`s report and dual date the report.
6. Please refer to comments six and seven in our letter dated June
17, 2005. Please amend your 10-K to include the following:
* The segment disclosures required by paragraph 37 of SFAS 31;
* The separate disclosure of bundled service revenue on the face
of
the income statement as required by Rule 5-03(b) of Regulation S-
X;
and
* An explanatory note regarding why it is impracticable to
separately
disclose the cost of services.
You may contact Eric Atallah at (202) 551-3663 or Kaitlan
Tillan, Assistant Chief Accountant, at (202) 551-3604 if you have
questions regarding comments on the financial statements and
related
matters. Please contact Tom Jones at (202) 551-3602 or me at
(202)
551-3617 with any other questions.
Sincerely,
Russell Mancuso
Branch Chief
cc (via fax): Steven G. Rowles, Esq.
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Michael R. Rodriguez
Endocare, Inc.
August 4, 2005
Page 2
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