SEC Company Response from PRECISION AUTO CARE INC (CIK 0001038541) — Aug 11, 2005
PRECISION AUTO CARE INC (CIK 0001038541)
Date: Aug. 11, 2005 · CIK: 0001038541 · Accession: 0001104659-05-038484
AI Filing Summary & Sentiment
File numbers found in text: 000-29478
Referenced dates: June 22, 2005
Letter
Form 10-KSB for the fiscal year ended June 30, 2004 Form 10-Q for the quarter ended September 30, 2004, December 31, 2004 and March 31, 2005 Commission file #: 000-29478
Re: Precision Auto Care, Inc.
Dear Ms. Cvrkel:
I am in receipt of your letter dated June 22, 2005. The following is our response to each of the comments in the order that they appeared in your letter.
Form 10-KSB for the year ended June 30,
1. Please file an amended Form 10-KSB in response to our previous comment 1.
Response:
An amended Form 10-KSB was filed on July 14, 2005.
Form 10-Q for the period ended December 31,
2. We note from your response to comment 2 that your disclosure was revised for the quarter ended March 31, 2005 to explain why only $130,000 of revenue was recognized. However, we believe that the explanation included in your response is clearer than that included in your Form 10-QSB disclosure. Please include similar explanatory language in your disclosure in future filings.
Response:
Future filings will include similar explanatory language as recommended.
Sincerely,
/s/ Robert R. Falconi
Show Raw Text
CORRESP 1 filename1.htm August 11, 2005 Ms. Linda Cvrkel Branch Chief U. S. Securities and Exchange Commission Washington D.C. 20549 Re: Precision Auto Care, Inc. Form 10-KSB for the fiscal year ended June 30, 2004 Form 10-Q for the quarter ended September 30, 2004, December 31, 2004 and March 31, 2005 Commission file #: 000-29478 Dear Ms. Cvrkel: I am in receipt of your letter dated June 22, 2005. The following is our response to each of the comments in the order that they appeared in your letter. Form 10-KSB for the year ended June 30, 2004 1. Please file an amended Form 10-KSB in response to our previous comment 1. Response: An amended Form 10-KSB was filed on July 14, 2005. Form 10-Q for the period ended December 31, 2004 2. We note from your response to comment 2 that your disclosure was revised for the quarter ended March 31, 2005 to explain why only $130,000 of revenue was recognized. However, we believe that the explanation included in your response is clearer than that included in your Form 10-QSB disclosure. Please include similar explanatory language in your disclosure in future filings. Response: Future filings will include similar explanatory language as recommended. Sincerely, /s/ Robert R. Falconi Robert R. Falconi President and Chief Operating Officer