SEC Company Response from BTCS Inc. (BTCS) (CIK 0001436229) (BTCS) — Oct 12, 2018
BTCS Inc. (BTCS) (CIK 0001436229)
Date: Oct. 12, 2018 · CIK: 0001436229 · Accession: 0001493152-18-014429
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-219893
Referenced dates: August 21, 2018
Letter
BTCS Inc.
Georgia Avenue #124
Silver Spring, MD 20901
October 12, 2018
Via EDGAR
Securities and Exchange Commission
Division of Corporation Finance
F Street, NE
Washington, DC 20549
Attention: Kathleen Collins
Re: BTCS Inc.
Amendment to Form 10-K
Amendment to Form 10-Qs
Amendment to Registration Statement on Form S-1
File No. 333-219893
Ladies and Gentlemen:
BTCS Inc. (the “Company”) submits this letter in response to the Staff’s letter dated August 21, 2018 (the “Comment Letter”). In the Comment Letter the Staff concluded that the Company had not complied with generally accepted accounting principles (“GAAP”) in its treatment of its Digital Assets.
Following communications with the Staff, the Company concluded that the Staff’s position was correct with respect to GAAP, and the Company filed a Form 8-K on September 21, stating that it had agreed to amend its financial statements for the year ended December 31, 2017 contained in the Form 10-K for that year and in the Form 10-Qs for the periods ended March 31 and June 30, 2018.
The Company is filing a Form 10-K/A and Form 10-Q/As restating its financial statements for the year ended December 31, 2017 and the periods ended March 31 and June 30, 2018. The Company is also filing an amendment to its Registration Statement on Form S-1 containing the revised financial statements.
In addition to restating its audited financial statements for the year ended December 31, 2017, the Form 10-K/A has been updated to the most recent practicable date, except for those line items which are required to be stated at December 31, 2017 and December 31, 2016. The Form S-1 contains not only the restated financial statements but disclosure which is similar to the disclosure in the Form 10-K/A, except for those items expressly only required in the Form 10-K and simple changes such as using the word “prospectus” or the phrase “Form 10-K/A”.
If you have any questions, please contact our counsel, Michael D. Harris, Esq. of Nason Yeager Gerson White & Lioce, P.A. with a phone number and email address at 561-471-3532 and mharris@nasonyeager.com.
Sincerely
yours,
/s/
Charles Allen
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CORRESP
1
filename1.htm
BTCS
Inc.
9466
Georgia Avenue #124
Silver
Spring, MD 20901
October
12, 2018
Via
EDGAR
Securities
and Exchange Commission
Division
of Corporation Finance
100
F Street, NE
Washington,
DC 20549
Attention:
Kathleen Collins
Re:
BTCS Inc.
Amendment
to Form 10-K
Amendment
to Form 10-Qs
Amendment
to Registration Statement on Form S-1
File
No. 333-219893
Ladies
and Gentlemen:
BTCS
Inc. (the “Company”) submits this letter in response to the Staff’s letter dated August 21, 2018 (the “Comment
Letter”). In the Comment Letter the Staff concluded that the Company had not complied with generally accepted accounting
principles (“GAAP”) in its treatment of its Digital Assets.
Following
communications with the Staff, the Company concluded that the Staff’s position was correct with respect to GAAP, and the
Company filed a Form 8-K on September 21, stating that it had agreed to amend its financial statements for the year ended December
31, 2017 contained in the Form 10-K for that year and in the Form 10-Qs for the periods ended March 31 and June 30, 2018.
The
Company is filing a Form 10-K/A and Form 10-Q/As restating its financial statements for the year ended December 31, 2017 and the
periods ended March 31 and June 30, 2018. The Company is also filing an amendment to its Registration Statement on Form S-1 containing
the revised financial statements.
In
addition to restating its audited financial statements for the year ended December 31, 2017, the Form 10-K/A has been updated
to the most recent practicable date, except for those line items which are required to be stated at December 31, 2017 and December
31, 2016. The Form S-1 contains not only the restated financial statements but disclosure which is similar to the disclosure in
the Form 10-K/A, except for those items expressly only required in the Form 10-K and simple changes such as using the word “prospectus”
or the phrase “Form 10-K/A”.
If
you have any questions, please contact our counsel, Michael D. Harris, Esq. of Nason Yeager Gerson White & Lioce, P.A. with
a phone number and email address at 561-471-3532 and mharris@nasonyeager.com.
Sincerely
yours,
/s/
Charles Allen
Charles
Allen
Chief
Executive Officer
cc:
Michael
D. Harris, Esq.
Nason,
Yeager, Gerson, White & Lioce, P.A.