SEC Company Response from Citi Trends Inc (CTRN) (CIK 0001318484) (CTRN) — May 17, 2005
Citi Trends Inc (CTRN) (CIK 0001318484)
Date: May 17, 2005 · CIK: 0001318484 · Accession: 0000950123-05-006437
AI Filing Summary & Sentiment
Reasoning
Letter
<PAGE> Citi Trends, Inc. 102 Fahm Street Savannah, GA 31401
May 17, 2005
Ladies and Gentlemen:
In fiscal 2004 Citi Trends, Inc. (the "Company") granted stock options at an exercise price below the deemed fair market value for such options. The excess value of these grants amounts to $188,095. The Company has deemed this compensation charge to be immaterial and therefore has passed on any adjustment to the financial statements. KPMG, our independent auditor, has conferred with our conclusion by consenting to the inclusion of their audit opinion in the filing of Amendment No. 4 to our Form S-1.
Very truly yours,
Citi Trends, Inc.
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Citi Trends, Inc.
102 Fahm Street
Savannah, GA 31401
May 17, 2005
Ladies and Gentlemen:
In fiscal 2004 Citi Trends, Inc. (the "Company") granted stock options at
an exercise price below the deemed fair market value for such options. The
excess value of these grants amounts to $188,095. The Company has deemed this
compensation charge to be immaterial and therefore has passed on any adjustment
to the financial statements. KPMG, our independent auditor, has conferred with
our conclusion by consenting to the inclusion of their audit opinion in the
filing of Amendment No. 4 to our Form S-1.
Very truly yours,
Citi Trends, Inc.
/s/ R. Edward Anderson /s/ Tom Stoltz
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R. Edward Anderson Tom Stoltz
Chief Executive Officer Chief Financial Officer
cc: Tracy Noll, Chairman, Audit Committee
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