SEC Comment Letter 0000000000-23-009202 to Mag Magna Corp. (CIK 0001949864) (MGNC)
Mag Magna Corp. (CIK 0001949864)
Date: Aug. 22, 2023 · CIK: 0001949864 · Accession: 0000000000-23-009202
AI Filing Summary & Sentiment
File numbers found in text: 333-268561
Letter
United States securities and exchange commission logo August 22, 2023 Oleg Bilinski Chief Executive Officer Mag Magna Corp. 325 W Washington St., Ste 2877 San Diego, CA 92103 Re:Mag Magna Corp. Amendment No. 8 to Registration Statement on Form S-1 Filed August 10, 2023 File No. 333-268561 Dear Oleg Bilinski: We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply 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 these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our August 1, 2023 letter. Amendment 8 to Form S-1 Filed on August 10, 2023 Dilution, page 22 1.We note your response to comment 1 and that you present a net tangible book value of ($13,417) as of April 30, 2023, which includes your intangible assets of $8,206. Please revise your net tangible book value calculation to exclude intangible assets as well as revise and review the calculations within the other scenarios of your offering as applicable.
FirstName LastNameOleg Bilinski Comapany NameMag Magna Corp. August 22, 2023 Page 2 FirstName LastName Oleg Bilinski Mag Magna Corp. August 22, 2023 Page 2 Mag Magna Corp Statement of Operations, page F-3 2.As you have restated your statement of operations for the year ended April 30, 2023, please include a description of the nature of the error in the notes to the financial statements. Refer to ASC 250-10-50-7. You may contact Tara Harkins at 202-551-3639 or Sasha Parikh at 202-551-3627 if you have questions regarding comments on the financial statements and related matters. Please contact Cindy Polynice at 202-551-8707 or Laura Crotty at 202-551-7614 with any other questions. Sincerely, Division of Corporation Finance Office of Life Sciences cc: Roger D. Linn
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United States securities and exchange commission logo
August 22, 2023
Oleg Bilinski
Chief Executive Officer
Mag Magna Corp.
325 W Washington St., Ste 2877
San Diego, CA 92103
Re:Mag Magna Corp.
Amendment No. 8 to Registration Statement on Form S-1
Filed August 10, 2023
File No. 333-268561
Dear Oleg Bilinski:
We have reviewed your amended registration statement and have the following
comments. In some of our comments, we may ask you to provide us with information so we
may better understand your disclosure.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe our comments apply 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 these comments, we may have additional comments. Unless we note
otherwise, our references to prior comments are to comments in our August 1, 2023 letter.
Amendment 8 to Form S-1 Filed on August 10, 2023
Dilution, page 22
1.We note your response to comment 1 and that you present a net tangible book value
of ($13,417) as of April 30, 2023, which includes your intangible assets of $8,206. Please
revise your net tangible book value calculation to exclude intangible assets as well as
revise and review the calculations within the other scenarios of your offering as
applicable.
FirstName LastNameOleg Bilinski
Comapany NameMag Magna Corp.
August 22, 2023 Page 2
FirstName LastName
Oleg Bilinski
Mag Magna Corp.
August 22, 2023
Page 2
Mag Magna Corp Statement of Operations, page F-3
2.As you have restated your statement of operations for the year ended April 30, 2023,
please include a description of the nature of the error in the notes to the financial
statements. Refer to ASC 250-10-50-7.
You may contact Tara Harkins at 202-551-3639 or Sasha Parikh at 202-551-3627 if you
have questions regarding comments on the financial statements and related matters. Please
contact Cindy Polynice at 202-551-8707 or Laura Crotty at 202-551-7614 with any other
questions.
Sincerely,
Division of Corporation Finance
Office of Life Sciences
cc: Roger D. Linn