SEC Comment Letter 0000000000-24-006536 to KINETIC GROUP INC. (KNIT) (CIK 0001696195)
KINETIC GROUP INC. (KNIT) (CIK 0001696195)
Date: June 6, 2024 · CIK: 0001696195 · Accession: 0000000000-24-006536
AI Filing Summary & Sentiment
File numbers found in text: 333-216047
Letter
United States securities and exchange commission logo June 6, 2024 Roberto Mora Chief Financial Officer Kinetic Group, Inc. 2801 NW 74th Avenue Miami, FL 33122 Re:Kinetic Group, Inc. Form 10-K for the Fiscal Year Ended September 30, 2023 Form 10-Q for the Fiscal Quarter Ended March 31, 2024 File No. 333-216047 Dear Roberto Mora: We have reviewed your filings and have the following comment(s). Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-Q for the Fiscal Quarter Ended March 31, 2024 Consolidated Financial Statements, page 4 1.We note that you filed an Item 4.02 Form 8-K on May 3, 2024 (amended May 13, 2024) stating your financial information filed since June 2022 should not be relied upon due to an error. Please tell us how you considered the guidance in ASC 250, particularly ASC 250-10-S99, ASC 250-10-45-22 through 45-24 and the disclosure requirements in ASC 250-10-50-7 through 50-11. 2.We note that you filed an Item 4.01 Form 8-K on May 3, 2024 stating you dismissed your independent registered public accounting firm and have not engaged a new firm. Please tell us how you have met the requirements of Rule 8-03 of Regulation S-X considering the Form 10-Q appears to have been filed subsequent to the dismissal of your independent registered public accounting firm.
FirstName LastNameRoberto Mora Comapany NameKinetic Group, Inc. June 6, 2024 Page 2 FirstName LastName Roberto Mora Kinetic Group, Inc. June 6, 2024 Page 2 Item 4. Controls and Procedures Evaluation of Disclosure Controls and Procedures, page 7 3.Please tell us how you determined that your disclosure controls and procedures were effective as of the evaluation date considering you filed an Item 4.02 Form 8-K on May 3, 2024 (amended May 13, 2024), which states your financial information filed since June 2022 should not be relied upon. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Blaise Rhodes at 202-551-3774 or Angela Lumley at 202-551-3398 if you have any questions. Sincerely, Division of Corporation Finance Office of Trade & Services
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United States securities and exchange commission logo
June 6, 2024
Roberto Mora
Chief Financial Officer
Kinetic Group, Inc.
2801 NW 74th Avenue
Miami, FL 33122
Re:Kinetic Group, Inc.
Form 10-K for the Fiscal Year Ended September 30, 2023
Form 10-Q for the Fiscal Quarter Ended March 31, 2024
File No. 333-216047
Dear Roberto Mora:
We have reviewed your filings and have the following comment(s).
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-Q for the Fiscal Quarter Ended March 31, 2024
Consolidated Financial Statements, page 4
1.We note that you filed an Item 4.02 Form 8-K on May 3, 2024 (amended May 13, 2024)
stating your financial information filed since June 2022 should not be relied upon due to
an error. Please tell us how you considered the guidance in ASC 250, particularly ASC
250-10-S99, ASC 250-10-45-22 through 45-24 and the disclosure requirements in ASC
250-10-50-7 through 50-11.
2.We note that you filed an Item 4.01 Form 8-K on May 3, 2024 stating you dismissed your
independent registered public accounting firm and have not engaged a new firm. Please
tell us how you have met the requirements of Rule 8-03 of Regulation S-X considering the
Form 10-Q appears to have been filed subsequent to the dismissal of your independent
registered public accounting firm.
FirstName LastNameRoberto Mora
Comapany NameKinetic Group, Inc.
June 6, 2024 Page 2
FirstName LastName
Roberto Mora
Kinetic Group, Inc.
June 6, 2024
Page 2
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures, page 7
3.Please tell us how you determined that your disclosure controls and procedures were
effective as of the evaluation date considering you filed an Item 4.02 Form 8-K on May 3,
2024 (amended May 13, 2024), which states your financial information filed since June
2022 should not be relied upon.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
Please contact Blaise Rhodes at 202-551-3774 or Angela Lumley at 202-551-3398 if you
have any questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services