SEC Company Response from POWER SAVE INTERNATIONAL INC (CIK 0001110480) — Nov 12, 2004
POWER SAVE INTERNATIONAL INC (CIK 0001110480)
Date: Nov. 12, 2004 · CIK: 0001110480 · Accession: 0001116502-04-002643
AI Filing Summary & Sentiment
Letter
Division of Corporation Finance U.S. Securities and Exchange Commission 450 Fifth St. N.W. Washington, D.C. 20549
Dear Ms. Thompson,
We had in fact chosen another Florida based auditor to bring the company current. Due to the hurricanes and internal difficulty at the auditing firm caused by the hurricanes and the delays that were created and unacceptable we chose an auditor that could bring us into compliance substantially faster than the times we were given.
Also during this time of delay from June to early September we identified several potential changes in our corporate structure including opening multiple offices around the country and the likely closure of Florida as Mr. Balmer will resign in December 2004 and he has disclaimed any rent for the space since August 2003. The likely locations for our various offices will be Arizona, California and Maryland. We are seeking the location in Arizona with expectation of having an office identified there before year end and have also identified the California and Maryland sites and will begin operations there in January 2005.
Certain shareholders have had prior experience with the chosen auditors in Arizona and found them to be competent and timely. As we have an office in Florida but no longer any assets in Florida and the fact that the registered office is the home of our resigning board member and shareholder and indeed no assets currently in any state we felt that engaging these auditors in light of our future business intent was appropriate.
Because there were no assets and nothing but a few contracted business expenses the audit was in fact performed in Arizona via mail and fax for the few transactions in these periods. Our prior auditors except for one quarter had been in Utah and we were not aware that there was any problem with the rules relative to that.
We are aware that the company is responsible for the adequacy and accuracy of the disclosure in the filings and believed that we were in fact complying with such requirements. We are also aware that staff comments or changes to disclosure in response to staff comments in the filings reviewed by the staff do not foreclose the Commission from taking any action with respect to the filing. Further, the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.
Very truly yours,
Russell L. Smith, President
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CORRESP 1 secltr111004.htm LETTER bp -- x2-53774 -- PowerSaveInternational,Inc. -- corresp Power Save International, Inc. November 10, 2004 Jennifer Thompson Division of Corporation Finance U.S. Securities and Exchange Commission 450 Fifth St. N.W. Washington, D.C. 20549 Dear Ms. Thompson, We had in fact chosen another Florida based auditor to bring the company current. Due to the hurricanes and internal difficulty at the auditing firm caused by the hurricanes and the delays that were created and unacceptable we chose an auditor that could bring us into compliance substantially faster than the times we were given. Also during this time of delay from June to early September we identified several potential changes in our corporate structure including opening multiple offices around the country and the likely closure of Florida as Mr. Balmer will resign in December 2004 and he has disclaimed any rent for the space since August 2003. The likely locations for our various offices will be Arizona, California and Maryland. We are seeking the location in Arizona with expectation of having an office identified there before year end and have also identified the California and Maryland sites and will begin operations there in January 2005. Certain shareholders have had prior experience with the chosen auditors in Arizona and found them to be competent and timely. As we have an office in Florida but no longer any assets in Florida and the fact that the registered office is the home of our resigning board member and shareholder and indeed no assets currently in any state we felt that engaging these auditors in light of our future business intent was appropriate. Because there were no assets and nothing but a few contracted business expenses the audit was in fact performed in Arizona via mail and fax for the few transactions in these periods. Our prior auditors except for one quarter had been in Utah and we were not aware that there was any problem with the rules relative to that. We are aware that the company is responsible for the adequacy and accuracy of the disclosure in the filings and believed that we were in fact complying with such requirements. We are also aware that staff comments or changes to disclosure in response to staff comments in the filings reviewed by the staff do not foreclose the Commission from taking any action with respect to the filing. Further, the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. Very truly yours, Russell L. Smith, President