SEC Comment Letter for Intellicheck, Inc. (IDN) (CIK 0001040896) (IDN) — Jun 13, 2014
Intellicheck, Inc. (IDN) (CIK 0001040896)
Date: June 13, 2014 · CIK: 0001040896 · Accession: 0000000000-14-030187
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File numbers found in text: 000-50296
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June 1 3, 2014 Via E -mail Nelson Ludlow Chief Executive Officer Intellicheck Mobilisa, Inc. 191 Otto Street Port Townsend, WA 98368 Re: Intellicheck Mobilisa, Inc. Preliminary Proxy Statement on Schedule 14 A Filed on June 5, 2014 File No. 000-50296 Dear Dr. Ludlow : We have reviewed your filing an d 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 this letter within ten business days by amending your filing, by providing the requested information, or by advising us when you will provide the requested response. If you do not believe our comments apply t o your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your filing and the information you provide in response to these comments, we may have additional comment s. General 1. We note that you have omitted certain information such as the meeting date and location, record date, and related information. It is unclear under what authority this information is being omitted. Please revise to include the missing information . Proposal No. 1 Grant the Board of Directors Discretionary Authority to Amend the Company’s Certificate of Incorporation to Effect a One -For-Ten Reverse Stock Split of the Company’s Common Stock 2. For clarity, p lease disclose, in tabular format, the number of shares of common stock currently authorized, issued and outstanding, reserved for issuance and authorized but unissued and the number of shares in those same categories after completion of the reverse stock split . Nelson Lu dlow Intellicheck Mobilisa, Inc. June 13, 2014 Page 2 3. Please tell us whether you presently have any plans, proposals or arrangements to issue any of the newly available authorized shares of common stock for any purpose, including future acquisitions and/or financings. If not, state that you have no such plans, proposals, or arrangements, written or otherwise, at this time to issue any of the newly available authorized shares of common stock . 4. Discuss the possible anti -takeover effects of the effective increase in your authorized shares. Refer to Release No. 34 -15230. A lso discuss other anti -takeover mechanisms that may be present in your governing documents or otherwise and whether there are any plans or proposals to adopt other provisions or enter into other arrangements that may have material anti -takeover consequences. Inform holders that management might use the additional shares to resist or frus trate a third -party transaction . We urge all persons who are responsible for the accuracy and adequacy of the disclosure in the filing to be certain t hat the filing includes the information the Securities Exchange Act of 1934 and all applicable Exchange Act rules require. Since the company and its management are in possession of all facts relating to a company’s disclosure, they are responsible for the accuracy and adequacy of the disclosures they have made. In responding to our comments, please provide a written 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 Commiss ion or any person under the federal securities laws of the United States. Please contact Ji Kim, Attorney -Advisor, at (202) 551 -3579 or, in her absence, the undersigned at (202) 551 -3457 with any questions. Sincerely, /s/ Maryse Mills -Apenteng Maryse Mills -Apenteng Special Counsel