SEC Comment Letter 0000000000-23-000308 to SolarMax Technology, Inc. (SMXT)
SolarMax Technology, Inc.
Date: Jan. 12, 2023 · CIK: 0001519472 · Accession: 0000000000-23-000308
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-266206
Letter
United States securities and exchange commission logo January 12, 2023 David Hsu Chief Executive Officer SolarMax Technology, Inc. 3080 12th Street Riverside, CA 92507 Re:SolarMax Technology, Inc. Amendment No. 3 to Registration Statement on Form S-1 Filed December 23, 2022 File No. 333-266206 Dear David Hsu: We have reviewed your amended registration statement and have the following comment. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to the comment, we may have additional comments. Amendment No. 3 to registration statement on Form S-1 Risk Factors, page 16 1.We note recent instances of extreme stock price run-ups followed by rapid price declines and stock price volatility seemingly unrelated to company performance following a number of recent initial public offerings, particularly among companies with relatively smaller public floats. Revise to include a risk factor, separate from the more general risk factor beginning on page 56, addressing the potential for rapid and substantial price volatility and any known factors particular to your offering that may add to this risk and discuss the risks to investors when investing in stock where the price is changing rapidly. Clearly state that such volatility, including any stock-run up, may be unrelated to your actual or expected operating performance and financial condition or prospects, making it difficult for prospective investors to assess the rapidly changing value of your stock.
FirstName LastNameDavid Hsu Comapany NameSolarMax Technology, Inc. January 12, 2023 Page 2 FirstName LastName David Hsu SolarMax Technology, Inc. January 12, 2023 Page 2 You may contact Ameen Hamady at (202) 5551-3891 or Jennifer Monick at (202) 551- 3295 if you have questions regarding comments on the financial statements and related matters. Please contact Ron Alper at (202) 551-3329 or Pamela Long at (202) 551-3765 with any other questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction cc: Asher Levitsky
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United States securities and exchange commission logo
January 12, 2023
David Hsu
Chief Executive Officer
SolarMax Technology, Inc.
3080 12th Street
Riverside, CA 92507
Re:SolarMax Technology, Inc.
Amendment No. 3 to Registration Statement on Form S-1
Filed December 23, 2022
File No. 333-266206
Dear David Hsu:
We have reviewed your amended registration statement and have the following comment.
Please respond to this letter by amending your registration statement and providing the requested
information. If you do not believe our comment applies to your facts and circumstances or do
not believe an amendment is appropriate, please tell us why in your response.
After reviewing any amendment to your registration statement and the information you
provide in response to the comment, we may have additional comments.
Amendment No. 3 to registration statement on Form S-1
Risk Factors, page 16
1.We note recent instances of extreme stock price run-ups followed by rapid price declines
and stock price volatility seemingly unrelated to company performance following a
number of recent initial public offerings, particularly among companies with relatively
smaller public floats. Revise to include a risk factor, separate from the more general risk
factor beginning on page 56, addressing the potential for rapid and substantial price
volatility and any known factors particular to your offering that may add to this risk and
discuss the risks to investors when investing in stock where the price is changing rapidly.
Clearly state that such volatility, including any stock-run up, may be unrelated to your
actual or expected operating performance and financial condition or prospects, making it
difficult for prospective investors to assess the rapidly changing value of your stock.
FirstName LastNameDavid Hsu
Comapany NameSolarMax Technology, Inc.
January 12, 2023 Page 2
FirstName LastName
David Hsu
SolarMax Technology, Inc.
January 12, 2023
Page 2
You may contact Ameen Hamady at (202) 5551-3891 or Jennifer Monick at (202) 551-
3295 if you have questions regarding comments on the financial statements and related
matters. Please contact Ron Alper at (202) 551-3329 or Pamela Long at (202) 551-3765 with
any other questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction
cc: Asher Levitsky