Correspondence 0001477932-24-005420 from KINETIC GROUP INC. (KNIT) (CIK 0001696195)
KINETIC GROUP INC. (KNIT) (CIK 0001696195)
Date: Sept. 3, 2024 · CIK: 0001696195 · Accession: 0001477932-24-005420
AI Filing Summary & Sentiment
File numbers found in text: 333-216047
Referenced dates: July 22, 2024
Letter
Securities and Exchange Commission Division of Corporation Finance Office of Trade & Services Form 10-K for the Fiscal Year Ended September 30, 2023 Form 10-Q for the Fiscal Quarter Ended March 31, 2024 Response dated July 9, 2024 File No. 333-216047
Re:
Dear Sir or Madam:
Thank you for your letter dated July 22, 2024. Pursuant to your questions, we offer the following:
Form 10-Q for the Fiscal Quarter Ended March 31, 2024.
Consolidated Financial Statements, page 4.
1.
A Form 8-K and 8-K/A was filed in May with the explanation of the accounting error. In addition, Management restated financial statements on May 13, 2024 in a 10Q filing.
2.
Management has engaged the firm Victor Mokuolu CPA PLLC as our independent registered public accountant, responable for all audits and reviews of our financial statements and have publicly disclosed that hiring in our most recent Form 8-K dated 9-3-2024.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures, page 7
3.
We recognize it is management’s responsibility to verify and have in place sufficient and effective controls and procedures to identify an error in the Company’s financial statements. Management did not have sufficient control at the time of the error and have now established an audit committee to verify all information being presented.
Thank you for your kind consideration.
/s/ Roberto Mora C.
Roberto Mora C.
Chief Financial Officer
Kinetic Group Inc. – 2801 NW 74th Avenue, Miami FL 33122 – Phone: (786)-7126827
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CORRESP
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September 3, 2024
Securities and Exchange Commission
Division of Corporation Finance
Office of Trade & Services
Washington, D.C. 20549
ATTN: Blaise Rhodes, Angela Lumley
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
Response dated July 9, 2024
File No. 333-216047
Dear Sir or Madam:
Thank you for your letter dated July 22, 2024. Pursuant to your questions, we offer the following:
Form 10-Q for the Fiscal Quarter Ended March 31, 2024.
Consolidated Financial Statements, page 4.
1.
A Form 8-K and 8-K/A was filed in May with the explanation of the accounting error. In addition, Management restated financial statements on May 13, 2024 in a 10Q filing.
2.
Management has engaged the firm Victor Mokuolu CPA PLLC as our independent registered public accountant, responable for all audits and reviews of our financial statements and have publicly disclosed that hiring in our most recent Form 8-K dated 9-3-2024.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures, page 7
3.
We recognize it is management’s responsibility to verify and have in place sufficient and effective controls and procedures to identify an error in the Company’s financial statements. Management did not have sufficient control at the time of the error and have now established an audit committee to verify all information being presented.
Thank you for your kind consideration.
/s/ Roberto Mora C.
Roberto Mora C.
Chief Financial Officer
Kinetic Group Inc. – 2801 NW 74th Avenue, Miami FL 33122 – Phone: (786)-7126827