0000000000-19-008835.txt : 20190819 0000000000-19-008835.hdr.sgml : 20190819 20190522172150 ACCESSION NUMBER: 0000000000-19-008835 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20190522 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: PRECISION OPTICS CORPORATION, INC. CENTRAL INDEX KEY: 0000867840 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 042795294 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 22 EAST BROADWAY CITY: GARDNER STATE: MA ZIP: 01440 BUSINESS PHONE: 978-630-1800 MAIL ADDRESS: STREET 1: 22 EAST BROADWAY CITY: GARDNER STATE: MA ZIP: 01440 FORMER COMPANY: FORMER CONFORMED NAME: PRECISION OPTICS Corp INC DATE OF NAME CHANGE: 20111027 FORMER COMPANY: FORMER CONFORMED NAME: PRECISION OPTICS CORPORATION INC DATE OF NAME CHANGE: 19930328 FORMER COMPANY: FORMER CONFORMED NAME: PRECISION OPTICS CORP INC DATE OF NAME CHANGE: 19600201 PUBLIC REFERENCE ACCESSION NUMBER: 0001683168-18-002873 LETTER 1 filename1.pdf begin 644 filename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TEXT-EXTRACT 2 filename2.txt May 22, 2019 Joseph N. Forkey Chief Executive Officer Precision Optics Corporation, Inc. 22 East Broadway Gardner, Massachusetts 01440-3338 Re: Precision Optics Corporation, Inc. Form 10-K for the Fiscal Year Ended June 30, 2018 Filed September 27, 2018 Form 10-Q for the Quarterly Period Ended March 31, 2019 Filed May 15, 2019 File No. 001-10647 Dear Mr. Forkey: We have reviewed your filing 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 these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 10-K for the Fiscal Year Ended June 30, 2018 Item 9A. Controls and Procedures Management's Annual Report on Internal Control Over Financial Reporting, page 20 1. In future filings, revise management s report to identify the version of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control - Integrated Framework that was used to perform your assessment, i.e., the 1992 Framework or the Updated Framework issued in 2013. Please refer to Item 308(a)(2) of Regulation S-K. Report of Independent Registered Public Accounting Firm, page F-1 2. In future filings, please have your auditor disclose the year they began serving consecutively as your auditor. Refer to PCAOB AS 3101.10(b). Joseph N. Forkey Precision Optics Corporation, Inc. May 22, 2019 Page 2 Exhibit 23.1, page 1 3. The consent of Stowe & Degon LLC refers to their report dated September 27, 2018, although their audit report included on page F-1 of the Form 10-K is dated September 21, 2018. Please amend your filing to have Stowe & Degon LLC provide a consent that refers to the correct audit report date. Form 10-Q for the Quarterly Period Ended March 31, 2019 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources, page 14 4. Revise future filings to clearly explain why you are presenting non-GAAP net income (loss) amounts as part of your liquidity discussion, and to provide all the disclosures required by Item 10(e) of Regulation S-K. To the extent that you are presenting non- GAAP net income (loss) as a liquidity measure, explain to us how you considered Questions 102.03 and 102.06 of the Compliance & Disclosure Interpretations for Non- GAAP Financial Measures. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Eric Atallah at 202-551-3663 or Lynn Dicker, Senior Accountant, at 202- 551-3616 with any questions. FirstName LastNameJoseph N. Forkey Sincerely, Comapany NamePrecision Optics Corporation, Inc. Division of Corporation Finance May 22, 2019 Page 2 Office of Electronics and Machinery FirstName LastName