<SEC-DOCUMENT>0001079973-19-000242.txt : 20190607
<SEC-HEADER>0001079973-19-000242.hdr.sgml : 20190607
<ACCEPTANCE-DATETIME>20190423185019
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001079973-19-000242
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Riot Blockchain, Inc.
		CENTRAL INDEX KEY:			0001167419
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		IRS NUMBER:				841553387
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		202 6TH STREET, SUITE 401
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80104
		BUSINESS PHONE:		303-794-2000

	MAIL ADDRESS:	
		STREET 1:		202 6TH STREET, SUITE 401
		CITY:			CASTLE ROCK
		STATE:			CO
		ZIP:			80104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Bioptix, Inc.
		DATE OF NAME CHANGE:	20161201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Venaxis, Inc.
		DATE OF NAME CHANGE:	20121218

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AspenBio Pharma, Inc.
		DATE OF NAME CHANGE:	20051110
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<div style="TEXT-ALIGN: right">Correspondence</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">April 23, 2019</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><u>VIA EDGAR</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">United States Securities and Exchange Commission</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Division of Corporation Finance</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">100 F Street, N.E.</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Washington, D.C.&#160; 20549</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Re:</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Riot Blockchain, <font style="FONT-WEIGHT: bold">Inc.</font></div>

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<div style="FONT-WEIGHT: bold">Registration Statement on Form S-3</div>

<div style="FONT-WEIGHT: bold">Filed March 14, 2019</div>

<div style="FONT-WEIGHT: bold">File No. 333-230290</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Ladies and Gentlemen:</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 3.85pt; TEXT-INDENT: 36pt">We are in receipt of your letters, dated March 26, 2019 and April 17, 2019, addressed to Riot Blockchain, Inc. (the &#8220;<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Company</font>&#8221;) from the staff (the &#8220;<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Staff</font>&#8221;) of the Securities and Exchange Commission (the &#8220;<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Commission</font>&#8221;), regarding your review of the above-referenced filing of the Company, which was&#160;filed with the Commission on March 14, 2019 (the &#8220;<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Registration Statement</font>&#8221;). We have prepared the enclosed responses to your comments contained therein.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For your convenience, the texts of the Staff&#8217;s comments are set forth herein below in italics, followed by our responses.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Riot Blockchain, Inc. 202 6<sup style="vertical-align: text-top; line-height: 1; font-size: smaller">th</sup> Street, Suite 401 &#9679; Castle Rock, CO&#160; 80104 &#9679; Tel. (303) 794 - 2000</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-RIGHT: 36pt"><u>Comment Letter Dated March 26, 2019</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 36pt"><u>Registration Statement on Form S-3</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 36pt"><u>General</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">We note that you filed this registration statement more than 45 days after the end of your fiscal year. As you do not appear to meet the age of financial statement requirements of Rule 8-08(b) of Regulation S-X, you will need to include your audited financial statements or file and incorporate by reference your Form 10-K for fiscal year ended December 31, 2018 before we will accelerate the effective date of your registration statement. Please also note that if the Form 10-K does not include Part III information, we will not be in a position to accelerate the effective date of your registration statement until you have filed the definitive proxy statement. Please refer to Compliance and Disclosure Interpretations, Securities Act Forms Question 123.01 and Regulation S-K Question 117.05 for guidance.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-RIGHT: 36pt"><u>Response</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">We filed our Annual Report on Form 10-K for the year ended December 31, 2018 (the &#8220;<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Annual Report</font>&#8221;) with the Commission on April 2, 2019.&#160; The Annual Report includes our audited financial statements and the reports of our auditors for the year ended December 31, 2018. For the Staff&#8217;s reference, we direct your attention to Part II, Items 5 through 9B of our Annual Report.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">We have also included the Form 10-K, Part III information in the&#160;Amendment No. 1&#160;to our Annual Report on Form 10-K&#160;(the &#8220;<font style="FONT-WEIGHT: bold">A</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">mendment</font>&#8221;), filed with the Commission on April 23, 2019.&#160; For the Staff&#8217;s reference, we direct your attention to Part III of the Amendment beginning on page 22 thereof.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-RIGHT: 7.5pt"><u>Comment Letter Dated April 17, 2019</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-RIGHT: 7.5pt"><u>Registration Statement on Form S-3</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><u>Risk Factors, page 10</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">We note your disclosures in your recently filed Annual Report on Form 10-K for the year ended December 31, 2018 and your proposed revised disclosure for the registration statement regarding your exclusive forum provision, and note that the provision in your bylaws provide that a state or federal court located within the State of New York shall be the sole and exclusive forum. Please revise your disclosures to correspond to the jurisdiction referenced in your governing documents.</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; TEXT-INDENT: -36pt"><u>Response</u></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">In response to the Staff&#8217;s comment, the Company has included the following risk factor disclosure in its Amendment No. 1 to its Registration Statement on Form S-3 (<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">File No. 333-230290</font>), filed with the Commission on April 23, 2019 under the section entitled &#8220;Risk Factors&#8221; on page 10 thereof:</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 108pt; TEXT-INDENT: -108pt"><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Risk Factors</u></font>, page 10.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN: 3pt 36pt">&#8220;Our Bylaws contain a forum selection clause which requires our stockholders to bring claims against us in the State of New York as the sole and exclusive forum for the resolution of their claims; our stockholders may be prejudiced by this forum selection clause.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN: 3pt 36pt">The Company&#8217;s choice of the state and federal courts located within the State of New York as the sole and exclusive forum for the resolution of claims brought by our stockholders under the forum selection clause contained in our Bylaws may limit a stockholder&#8217;s ability to bring a claim in a judicial forum that it finds favorable for such disputes and may discourage lawsuits with respect to such claims. The Company believes, however, that the choice of New York is beneficial to our stockholders and the Company, as the state and federal courts of New York have considerable experience and familiarity with stockholder derivative and other similar claims brought against corporations, which leads to greater consistency in the application of applicable law.&#160; The Company&#8217;s forum selection clause applies to civil claims and it is our intention that this forum selection clause apply to claims brought under the Securities Act and the Exchange Act to the fullest extent permitted by law.&#8221;</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We have also&#160;included this risk factor disclosure in the Amendment No. 1&#160;to our Annual Report on Form 10-K&#160;under Part I, Item 1A. Risk Factors. on page 21 thereof.</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify; MARGIN-RIGHT: 1pt">If you have any questions or request any further information, please do not hesitate to call or email the undersigned at (303)-794 &#8211; 2000 or contact our counsel, William R. Jackman of Rogers Towers, P.A. at (904) 398-3911.</div>

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<div>Very truly yours,</div>

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<div><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>/s/ Robby Chang</u></font><font style="FONT-SIZE: 1px; WIDTH: 144pt; DISPLAY: inline-block; TEXT-INDENT: 0px">&#160;</font></div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">cc:</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Jeffrey G. McGonegal, Riot Blockchain, Inc.</div>

<div style="TEXT-ALIGN: left">William R. Jackman, Esq., Rogers Towers, P.A.</div>
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