SEC Company Response from ATEL CAPITAL EQUIPMENT FUND VIII LLC (CIK 0001069152) — Nov 15, 2005
ATEL CAPITAL EQUIPMENT FUND VIII LLC (CIK 0001069152)
Date: Nov. 15, 2005 · CIK: 0001069152 · Accession: 0001011723-05-000221
AI Filing Summary & Sentiment
Referenced dates: November 1, 2005
Letter
November 15, 2005 BY EDGAR AND OVERNIGHT DELIVERY Mr. Rufus Decker Accounting Branch Chief Securities and Exchange Commission 100 F Street, NE Washington, D.C. 20549
Re: ATEL Capital Equipment Fund VIII, LLC (the "Company) Form 10-K for the fiscal year ended December 31, 2004 Forms 10-Q for the fiscal quarters ended March 31, 2005 and June 30, 2005 SEC File No. 0-33103
Dear Mr. Decker:
This letter is in preliminary response to your comment letter dated November 1, 2005 on the above referenced reports.
In light of the prior discussions between the Staff and the Company's manager concerning materiality as it relates to capitalization of Initial Direct Cost (IDC) and amortization of IDC, the Company has conceded that it will view materiality in accordance with the Staff's view that changes resulting in material increases or decreases in recorded net income or loss will be material to an issuer such as the Company and its affiliated equipment leasing programs. Accordingly, the Company further concedes that the effect of the $742,000 interest expense item is material to the Company's results of operations for the years ended December 31, 2002 and December 31, 2003.
As I understand you discussed with Michael Huie of the Company's accounting staff by telephone, the Company intends to address the affects of this interest expense item in the same restatement of its financial statements being prepared to address the IDC issues. Additionally, the Company will be reviewing any other adjustments to its financial statements for 2002, 2003 and 2004 to the extent its determinations as to materiality were based on measurements excluding the effects on net income or loss.
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Mr. Rufus Decker November 15, 2005 Page 2
By separate correspondence, we are filing the required representations of the Company relating to your comment letter. Please contact us with any further questions or comments in this regard.
Very truly yours,
/s/ PAUL J. DERENTHAL
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LAW OFFICES OF
DERENTHAL & DANNHAUSER LLP
ONE POST STREET, SUITE 575
SAN FRANCISCO, CALIFORNIA 94104
(415) 981-4844
FACSIMILE: (415) 981-4840
November 15, 2005
BY EDGAR AND OVERNIGHT DELIVERY
Mr. Rufus Decker
Accounting Branch Chief
Securities and Exchange Commission
100 F Street, NE
Washington, D.C. 20549
Re: ATEL Capital Equipment Fund VIII, LLC (the "Company)
Form 10-K for the fiscal year ended December 31, 2004
Forms 10-Q for the fiscal quarters ended March 31, 2005
and June 30, 2005
SEC File No. 0-33103
Dear Mr. Decker:
This letter is in preliminary response to your comment letter dated
November 1, 2005 on the above referenced reports.
In light of the prior discussions between the Staff and the Company's
manager concerning materiality as it relates to capitalization of Initial Direct
Cost (IDC) and amortization of IDC, the Company has conceded that it will view
materiality in accordance with the Staff's view that changes resulting in
material increases or decreases in recorded net income or loss will be material
to an issuer such as the Company and its affiliated equipment leasing programs.
Accordingly, the Company further concedes that the effect of the $742,000
interest expense item is material to the Company's results of operations for the
years ended December 31, 2002 and December 31, 2003.
As I understand you discussed with Michael Huie of the Company's accounting
staff by telephone, the Company intends to address the affects of this interest
expense item in the same restatement of its financial statements being prepared
to address the IDC issues. Additionally, the Company will be reviewing any other
adjustments to its financial statements for 2002, 2003 and 2004 to the extent
its determinations as to materiality were based on measurements excluding the
effects on net income or loss.
<PAGE>
Mr. Rufus Decker
November 15, 2005
Page 2
By separate correspondence, we are filing the required representations of
the Company relating to your comment letter. Please contact us with any further
questions or comments in this regard.
Very truly yours,
/s/ PAUL J. DERENTHAL
Paul J. Derenthal
cc: Mr. Paritosh Choksi
Mr. Michael Huie
Mr. Leon Chin
Mr. Hubert Ban
Ms. Meagan Caldwell
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