-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, T1RTriQmtmeREJWafAlxpV8BpwUP70y2MCzEn07M2kUJRkpTdQGWvMpF5LQ0HwFd 7OB0fB618GnUEfQQKpEEvg== 0000000000-06-016814.txt : 20061103 0000000000-06-016814.hdr.sgml : 20061103 20060410171535 ACCESSION NUMBER: 0000000000-06-016814 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060410 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: NOBLE HOUSE ENTERTAINMENT INC. CENTRAL INDEX KEY: 0001168981 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] IRS NUMBER: 000000000 STATE OF INCORPORATION: A6 FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 47 AVENUE ROAD STREET 2: SECOND FLOOR CITY: TORONTO ONTARIO STATE: A6 ZIP: M5R 2G3 BUSINESS PHONE: 416-860-0211 MAIL ADDRESS: STREET 1: 47 AVENUE ROAD STREET 2: SECOND FLOOR CITY: TORONTO ONTARIO STATE: A6 ZIP: M5R 2G3 FORMER COMPANY: FORMER CONFORMED NAME: FIRST EMPIRE CORP INC. DATE OF NAME CHANGE: 20040507 FORMER COMPANY: FORMER CONFORMED NAME: FIRST EMPIRE ENTERTAINMENT CORP INC DATE OF NAME CHANGE: 20031113 FORMER COMPANY: FORMER CONFORMED NAME: FIRST EMPIRE ENTERTAINMENT COM INC DATE OF NAME CHANGE: 20020312 LETTER 1 filename1.txt April 10, 2006 Mail Stop 3561 Via US Mail and Facsimile Mr. Kam Shah Chief Financial Officer 47 Avenue Road, Suite 200 Toronto, Ontario, Canada M5R 2G3 Re: Noble House Entertainment Inc. Form 20-F for the year ended June 30, 2005 Commission file #: 000-50492 Dear Mr. Shah: We have reviewed your April 6, 2006 response letter and have the following comments. Where expanded or revised disclosure is requested, you may comply with these comments in future filings. If you disagree, we will consider your explanation as to why our comments are inapplicable or a revision is unnecessary. We also ask you to provide us with supplemental information so we may better understand your disclosure. Please be as detailed as necessary in your explanation. We look forward to working with you in these respects and welcome any questions you may have about any aspects of our review. * * * * * * * * * * * * * * * * * * * * * * * Form 20-F for the year ended June 30, 2005 Statement of Shareholders` Equity 1. We note from your response to our prior comment 1 that two other transactions occurred during early 2004 which resulted in stock being valued at $.05 per share, the exercise of warrants and the issuance of shares in settlement of fees owed. Because these transactions all occurred during the same month, and were made with related parties, it is unclear how the value of the stock was determined to represent "fair value." Please tell us how the Board determined that a value of $.05 per share represented fair value. Also, please tell us if you determined that the 1.5 million warrants had any fair value at the time of the modification to the exercise price ($.25 per share to $.05 per share) and if so, tell us your accounting for such value under both Canadian and US GAAP. Notes to the Financial Statements Note 4. Investment in Film and Television Programs 2. We note from your response to our prior comment 5 that future cash flows were based on a comparison of detailed production budget and estimated revenues for each title and your analysis provides the estimated profit by film title. As previously requested, please provide us with an analysis showing the estimated cash flows for each title used in your impairment analysis as required by paragraph 7 of SFAS No. 144 and tell us the related assumptions used in developing the cash flows. Also, explain to us the assumptions used to determine budgeted amounts and future revenue estimates for each film title to the extent these amounts are used in your impairment analysis. For each title, also please provide an actual or estimated date the film will begin production. We may have further comment upon receipt of your response. Form 6-K filed February 24, 2006 3. We note your response to our prior comment number 6 but are still unclear as to whether any expense will be recognized for US GAAP purposes for the reduction in exercise price from $1.00 to $.50 per share that was made on January 18, 2006 with respect to warrants to acquire 3.5 million shares of your common stock. Please tell us how you valued the warrants issued for US GAAP purposes including the significant assumptions used and indicate the amount of expense that will be recognized for US GAAP purposes. * * * * * * * * * * * * * * * * * * * * * * * As appropriate, please respond to these comments via EDGAR within 10 business days or tell us when you will provide us with a response. Please furnish a cover letter that keys your responses to our comments and provides any requested supplemental information. Please understand that we may have additional comments after reviewing your responses to our comments. You may contact Claire Erlanger at 202-551-3301 or me at 202-551- 3813 if you have questions. Sincerely, Linda Cvrkel Branch Chief Mr. Kam Shah Noble House Entertainment, Inc. April 10, 2006 Page 1 -----END PRIVACY-ENHANCED MESSAGE-----