Correspondence 0001493152-23-027600 from Dynamic Shares Trust (WEIX) (CIK 0001771951)
Dynamic Shares Trust (WEIX) (CIK 0001771951)
Date: Aug. 10, 2023 · CIK: 0001771951 · Accession: 0001493152-23-027600
AI Filing Summary & Sentiment
File numbers found in text: 001-40369
Letter
VIA EDGAR Division of Corporation Finance Office of Crypto Assets Securities and Exchange Commission Washington, DC 20549 RE: Dynamic Shares Trust; File No. 001-40369
Dear Ms. Tillan,
On July 27, 2023, you provided written comments to Weixuan Zhang, Chief Executive Officer of the Dynamic Shares Trust (the “Registrant”) in connection with the Form 10-K for the fiscal year ended December 31, 2022 filed on March 31, 2023 and Amendment No. 1 to Form 10-Q for the quarterly period ended March 31, 2023 filed on May 24, 2023. Please find below the Registrant’s responses.
Form 10-K for the Fiscal Year Ended December 31, 2022
Financial Statements, page 64
1.
As the Registrant only consists of one fund, the financials of the Registrant and the fund are the same. The prior independent registered public accounting firm did not include a statement of cash flows in the prior year financial statements as the amount of cash flows was immaterial and was not required for GAAP under ASC 946. The most recent financial statements include a statement of cash flows along with a statement of cash flows for the prior year for comparative purposes. In addition, the former independent registered public accounting firm, who performed the audit for the period April 28, 2021 to December 31, 2021, has withdrawn from PCAOB membership and cannot perform audit procedures on a statement of cash flow or re-issue their audit report.
Report of Independent Registered Public Accounting Firm, page 66
2.
The Registrant confirms that it received a signed report from the auditor and will amend the filing as requested. The auditor has indicated that the omission was a clerical error and the audit report will be updated to include the statements in AS 3105.60.
Exhibits
3.
The Registrant confirms that a consent is not required under Item 601. The Registrant will amend the filing to remove the consent.
4.
The Registrant confirms that it will revise the certifications as noted for future filings.
Sincerely,
/s/
Weixuan Zhang
Show Raw Text
CORRESP
1
filename1.htm
Dynamic
Shares Trust
401
W. Superior Street, Suite 300
Chicago,
IL 60654
August
10, 2023
VIA
EDGAR
Kate
Tillan
Division of Corporation Finance
Office of Crypto Assets
Securities and Exchange Commission
Washington, DC 20549
RE:
Dynamic Shares Trust; File
No. 001-40369
Dear
Ms. Tillan,
On
July 27, 2023, you provided written comments to Weixuan Zhang, Chief Executive Officer of the Dynamic Shares Trust (the “Registrant”)
in connection with the Form 10-K for the fiscal year ended December 31, 2022 filed on March 31, 2023 and Amendment No. 1 to Form 10-Q
for the quarterly period ended March 31, 2023 filed on May 24, 2023. Please find below the Registrant’s responses.
Form
10-K for the Fiscal Year Ended December 31, 2022
Financial
Statements, page 64
1.
As
the Registrant only consists of one fund, the financials of the Registrant and the fund are the same. The prior independent registered
public accounting firm did not include a statement of cash flows in the prior year financial statements as the amount of cash flows
was immaterial and was not required for GAAP under ASC 946. The most recent financial statements include a statement of cash flows
along with a statement of cash flows for the prior year for comparative purposes. In addition, the former independent registered
public accounting firm, who performed the audit for the period April 28, 2021 to December 31, 2021, has withdrawn from PCAOB membership
and cannot perform audit procedures on a statement of cash flow or re-issue their audit report.
Report
of Independent Registered Public Accounting Firm, page 66
2.
The
Registrant confirms that it received a signed report from the auditor and will amend the filing as requested. The auditor has indicated
that the omission was a clerical error and the audit report will be updated to include the statements in AS 3105.60.
Exhibits
3.
The
Registrant confirms that a consent is not required under Item 601. The Registrant will amend the filing to remove the consent.
4.
The
Registrant confirms that it will revise the certifications as noted for future filings.
Sincerely,
/s/
Weixuan Zhang
Weixuan
Zhang
Principal
Executive Officer