SEC Company Response from Telecomm Sales Network Inc (CIK 0001310527) — Jun 7, 2005
Telecomm Sales Network Inc (CIK 0001310527)
Date: June 7, 2005 · CIK: 0001310527 · Accession: 0001188112-05-001197
AI Filing Summary & Sentiment
File numbers found in text: 333-123365
Letter
Office of Emerging Growth Companies Securities and Exchange Commission Washington, D.C. 20549 Re: Telecomm Sales Network, Inc. Registration Statement on Form SB-2 File No.: 333-123365
Dear Mr. Zimmerman:
Thank you for your two comments left in a voice mail and for agreeing to review the language set forth below before we file it by amendment to the Registration Statement.
Please let me know if the following language to be inserted into the Prospectus Summary satisfies your comment.
If we are not successful in raising the capital we need to conduct the market study, or other capital to begin to conduct active operations, or to continue operations if operations have already begun, we will have to suspend operations until we do raise the capital we need or cease operations entirely. In that event, our Board of Directors will evaluate the situation and may be forced to seek to sell any assets we have at that time and repay creditors. In that situation, it is not anticipated that assets will be sufficient to make any payments to shareholders. The timing of any decision about whether it is feasible to raise additional capital will depend upon numerous factors, including the general state of securities markets for small capitalization companies, the reaction we receive from placement agents and investors to our offering and our ability to continue to pay the expenses of being a public company while we continue to seek to raise money. At the current time, we believe we do not have sufficient cash to continue our search for capital for more than three months. We may be able to extend that period beyond three months, if we raise small amounts of capital to pay our expenses while we continue to seek to raise capital or if we reach agreements with our creditors to delay payment. There can be no assurance we will be able to raise the capital we need or that we will be able to reach agreements with our creditors to delay paying our debts.
Daniel F. Zimmerman, Esq.
June 7,
Page
If the foregoing is satisfactory, please advise whether we can file Amendment No. 3 with an acceleration request letter.
Very truly
yours,
/s/ James F.
Verdonik
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SEC Letter
June 7,
2005
Daniel F.
Zimmerman, Esq.
Office of
Emerging Growth Companies
Securities
and Exchange Commission
450 Fifth
Street, N.W.
Mail Stop
4-7
Washington,
D.C. 20549
Re: Telecomm
Sales Network, Inc.
Registration
Statement on Form SB-2
File No.: 333-123365
Dear Mr.
Zimmerman:
Thank you
for your two comments left in a voice mail and for agreeing to review the
language set forth below before we file it by amendment to the Registration
Statement.
Please
let me know if the following language to be inserted into the Prospectus Summary
satisfies your comment.
If we are
not successful in raising the capital we need to conduct the market study, or
other capital to begin to conduct active operations, or to continue operations
if operations have already begun, we will have to suspend operations until we do
raise the capital we need or cease operations entirely. In that event, our Board
of Directors will evaluate the situation and may be forced to seek to sell any
assets we have at that time and repay creditors. In that situation, it is not
anticipated that assets will be sufficient to make any payments to shareholders.
The timing of any decision about whether it is feasible to raise additional
capital will depend upon numerous factors, including the general state of
securities markets for small capitalization companies, the reaction we receive
from placement agents and investors to our offering and our ability to continue
to pay the expenses of being a public company while we continue to seek to raise
money. At the current time, we believe we do not have sufficient cash to
continue our search for capital for more than three months. We may be able to
extend that period beyond three months, if we raise small amounts of capital to
pay our expenses while we continue to seek to raise capital or if we reach
agreements with our creditors to delay payment. There can be no assurance we
will be able to raise the capital we need or that we will be able to reach
agreements with our creditors to delay paying our debts.
Daniel F.
Zimmerman, Esq.
June 7,
2005
Page
2
If the
foregoing is satisfactory, please advise whether we can file Amendment No. 3
with an acceleration request letter.
Very truly
yours,
/s/ James F.
Verdonik
James F.
Verdonik
cc: Mr.
William Sarine