Law Offices of Thomas E. Puzzo, PLLC
3823 44th Ave. NE
Seattle, Washington 98105
Telephone: (206) 522-2256 / Facsimile: (206) 260-0111
Writer's e-mail: tpuzzo@msn.com
Writer's cell: (206) 412-6868
January 6, 2015
VIA EDGAR
Larry Spirgel
Assistant Director
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
Re: | Loop Industries, Inc. | |
Amendment No. 3 to Form 8-K Filed December 3, 2015 File No. 000-54768 |
Dear Mr. Spirgel:
We respectfully hereby submit the information in this letter, on behalf of our client, Loop Industries, Inc., a Nevada corporation (the "Company"), in response to the letter of the staff (the "Staff") of the Securities and Exchange Commission (the "Commission") dated December 11, 2016. Amendment No. 4 to the Company's referenced Current Report onForm 8-K was filed with the Commission via EDGAR on January 6, 2015.
The staff's comments are reproduced in bold italics in this letter, and the Company's responses to the staff's comments follow each staff comment. References to page numbers are made to the redlined Amendment No. 3 to the Form 8-K.
Accounting Treatment of the Consideration, page F-18
1. We note your response to comment 5; however we reiterate our comment. In addition to the language you cite, ASC paragraph 505-50-25-6 states "[n]evertheless, the goods or services themselves are not recognized before they are received." We believe this guidance does, in fact, specifically address the timing of expense recognition and requires you to recognize the expense of the consulting services as those services are received.
Company response: The Company has restated its financial statements included in the Form 8-K in response to this comment. Please see exhibits 99.1, 99.2 and 99.3 to the Form 8-K.
Please contact the undersigned if you have further comments or questions.
| Very truly yours, |
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By: | /s/ Thomas E. Puzzo |
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| Thomas E. Puzzo |
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