<SEC-DOCUMENT>0001554795-19-000183.txt : 20190731
<SEC-HEADER>0001554795-19-000183.hdr.sgml : 20190731
<ACCEPTANCE-DATETIME>20190613114236
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001554795-19-000183
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20190613

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TimefireVR Inc.
		CENTRAL INDEX KEY:			0000748268
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				860490034
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1607 PONCE DE LEON AVE
		STREET 2:		SUITE 407
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00909
		BUSINESS PHONE:		833-373-3228

	MAIL ADDRESS:	
		STREET 1:		1607 PONCE DE LEON AVE
		STREET 2:		SUITE 407
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00909

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EnergyTEK Corp.
		DATE OF NAME CHANGE:	20140723

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADLEAF CAPITAL PARTNERS INC
		DATE OF NAME CHANGE:	20040928

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROADLEAF CAPITAL PARTNERS  INC
		DATE OF NAME CHANGE:	20020503
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">June 12, 2019</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">United States Securities and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attn: Matthew Derby, Esq.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify; width: 9%"><FONT STYLE="font-size: 12pt"><B>Re:</B></FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 91%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 12pt"><B>TimeFireVR,
                                         Inc.</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 12pt"><B>Preliminary
        Information Statement on PRE 14C</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 12pt"><B>Filed
        May 24, 2019</B></FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 11pt"><B>File
        No. 000-31587</B></FONT></P></TD></TR>
</TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Mr. Derby:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We write on behalf of TimefireVR, Inc. (the
&ldquo;Company&rdquo;) in response to the comment of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;) in its
letter dated June 7, 2019, commenting on the Company&rsquo;s Preliminary Information Statement on Schedule 14C filed May 24, 2019.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Titling and paragraph numbering of the comments
as inserted herein below corresponds to the titling and numbering used in the Commission&rsquo;s comment letter.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Preliminary Information Statement</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>General</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<OL START="1" STYLE="margin-top: 0in; list-style-type: decimal">

<LI STYLE="text-align: justify; margin: 0"><FONT STYLE="font-size: 12pt">We note your response to prior comment 1. We further
note that as a post-closing condition, Section 6.01(d) of the Share Exchange Agreement requires the company to have &quot;the
number of issued and outstanding shares of capital stock of the Parent, on a fully-diluted basis...as contemplated by this Agreement.&quot;
As such, it appears that the proposed reverse stock split may be a requirement of the Share Exchange Agreement with Red Cat Propware,
Inc. Because your proposed action effectively increases your authorized common stock by means of the reverse split and those shares
are being used for the purposes described in the Share Exchange Agreement, please revise your information statement to provide
all of the information required by Item 14 of Schedule 14A including, if applicable, the financial information required by Item
13 and Item 14.</FONT></LI>

</OL>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt; color: Gray"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%"><P STYLE="font: 8pt BakerSignetBT,serif; margin: 0; text-align: center">3001 PGA Boulevard | Suite 305 | Palm Beach Gardens, Florida 33410</P><P STYLE="font: 8pt BakerSignetBT,serif; margin: 0; text-align: center">Telephone (561) 686-3307 | Facsimile (561) 686-5442 | www.nasonyeager.com<BR> <BR> </P><P STYLE="font: 8pt BakerSignetBT,serif; margin: 0; text-align: center">PALM BEACH GARDENS &bull; BOCA RATON</P></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 11pt; color: Gray"><TR STYLE="vertical-align: top; text-align: left"><TD><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Matthew Derby, Esq.</P><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">June 12, 2019</P><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --> of 5</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">Alternatively, please provide us
with a detailed analysis regarding why you believe you are not required to provide some or all of this information. See Item 1
of Schedule 14C and Note A of Schedule 14A.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><U>Response</U>:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As discussed on our call
with the Staff and as disclosed in the Form 8-K/A filed on June 11, 2019, before the 71-day deadline, the Company will be filing
a Form 8-K/A to amend the initial Form 8-K filed on May 16, 2019 (the &ldquo;Closing 8-K&rdquo;), to include the financial information
referred to in Item 9.01(a) and (b), relating to the acquisition of Red Cat Propware, Inc. (&ldquo;RedCat&rdquo;). As disclosed
in the June 11<SUP>th</SUP> Form 8-K/A, RedCat has engaged Ciro E. Adams, CPA, LLC to complete the audit and review of RedCat&rsquo;s
required financial statements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Representation and Conditions to Closing</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Respectfully, this Comment
misunderstands the meaning and intent of Section 6.01(d) of the Share Exchange Agreement dated May 13, 2019 (the &ldquo;SEA&rdquo;).
This subsection of the SEA does not impose any post-closing conditions to the effectiveness of the SEA, but instead imposes a <U>prior</U>
condition to closing. In full, this subsection reads: &ldquo;At, and immediately after, the Closing, the authorized capitalization,
and the number of issued and outstanding shares of capital stock of the Parent, on a fully-diluted basis, shall be as described
in the Parent SEC Documents, and as contemplated by this Agreement.&rdquo; This closing condition is a direct reference to the
Company&rsquo;s representations and warranties in Section 4.03 of the SEA, which sets forth the required capital structure of the
Company <U>on the closing date</U>. The post-closing reference merely parallels the SEA&rsquo;s requirement on the part of the
Company to issue common and preferred stock as of closing to RedCat&rsquo;s shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As referenced in the Staff&rsquo;s
Comment:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;The number of issued and outstanding
shares of capital stock of the Parent, on a fully-diluted basis...as contemplated by this Agreement&rdquo; which paraphrases Section
6.01(d), omits the opening portion of Section 6.01 and 6.01(d):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.6in; text-align: justify">SECTION 6.01. Shareholders and Company
<I>Conditions Precedent</I>. The obligations of the Shareholders and the Company to enter into and complete the Closing is subject,
at the option of the Shareholders and the Company, to the fulfillment <I>on or prior to the Closing Date</I> of the following conditions.
(<I>Emphasis added.)</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.6in; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.6in; text-align: justify">(d) Post-Closing Capitalization. <I>At,
and immediately after, the Closing</I>, the authorized capitalization, and the number of issued and outstanding shares of capital
stock of the Parent, on a fully-diluted basis, shall be as described in the Parent SEC Documents, and as contemplated by this Agreement.
(<I>Emphasis Added.)</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Again the post-closing reference simply gives
effect to what occurs at the closing, it is not tied to the proposed reverse split.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">It is clear that these are conditions that
had to be met prior to or immediately at the closing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Prior to the SEA, and as
disclosed in its prior SEC filings, the Company had various classes of securities issued and outstanding (the &ldquo;Old Derivative
Securities&rdquo;). Section 4.03 of the SEA required that the Company have a certain capital structure at the time of the closing.
Section 4.03 goes on to specifically require, &ldquo;immediately prior to the Closing&rdquo;: (i) the execution of exchange agreements
for all of the Old Derivative Securities, exchanging such securities for the new Series B Preferred Stock; and (ii) the filing
of Certificates of Withdrawal of the Certificates of Designation for the old classes of preferred stock.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The SEA was executed May
13, 2019, but as disclosed in the Closing 8-K, the SEA did not close until May 15, 2019. During this time between the execution
and the closing of the SEA, the condition imposed by the SEA that the Company have the required capital structure &ldquo;on or
prior to the Closing Date&rdquo; was fulfilled by the Company. With these actions, the capital structure of the Company was brought
into conformance with the representations and warranties of the Company given in Section 4.03 of the SEA. Accordingly, as required
by Section 6.01, &ldquo;immediately prior to the Closing Date,&rdquo; the Company had the &ldquo;authorized capitalization, and
the number of issued and outstanding shares of capital stock&rdquo; that were &ldquo;contemplated by this Agreement.&rdquo; With
those prior conditions fulfilled, the parties closed the SEA on May 15, 2019 and issued the shares of common stock and shares of
new Series A Preferred Stock required by the SEA.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As described in detail
above, all conditions to closing the SEA were fulfilled prior to the closing, and the transaction has closed. All representations
of the Company regarding capital structure were, as a result of the required actions taken immediately prior to the closing, true
and correct as of the closing date, and the transaction was consummated.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note A to Schedule 14A</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Note A to Schedule 14A
references &ldquo;solicitation of security holders . . . for the purpose of approving the authorization of additional securities
which are to be used to acquire another specified company.&rdquo; This note is inapplicable to the text of the SEA and the surrounding
facts. The SEA required certain capital re-structuring as a condition to closing. That restructuring took place prior to the closing.
In order to acquire RedCat, the closing consideration called for under the SEA consisted of the issuance of common stock and shares
of newly-designated Series A Preferred Stock to the shareholders of RedCat. These shares were issued on May 15, 2019 and the SEA
has closed.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company had the power
to issue these securities with the approval of its Board of Directors; no shareholder action was required for the Company to acquire
RedCat. Further, since the Staff mentioned rescission of the SEA, we are of the opinion that no former RedCat shareholder has any
power to rescind the SEA. Mr. Jeff Thompson, the Company&rsquo;s Chief Executive officer and majority shareholder (and previously
the majority shareholder of RedCat) is copied on this letter and concurs with our advice.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The reverse split described
in the Company&rsquo;s Schedule 14C does not create, issue, or authorize any additional securities to be issued to anyone, as all
securities required to be issued under the SEA have in fact been issued. Were the reverse split not to proceed, the SEA will remain
closed and the Company will remain in compliance with all of the SEA&rsquo;s representations, warranties, and closing conditions
regarding capital structure.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Discussion of Split </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Although we recognize that
the Background section of the SEA can provide clarity as to the parties&rsquo; intent in case of any ambiguity with respect to
their obligations and conditions to be met under the SEA, this section is not legally binding. The rights, obligations, and covenants
of the parties to the SEA and the conditions to be met are set forth in the body of the SEA. The fact that there is no mention
of the reverse split in the Article II of the SEA, which contains the post-closing covenants, is strong evidence of the parties&rsquo;
intent not to create any binding obligation on the part of the Company to effect the reverse stock split. The reverse stock split
is mentioned in only one portion of the actual body of the SEA to reference the submission of the &ldquo;<I>planned reverse stock</I>
split and name change of the Parent to FINRA&rdquo; in the Company&rsquo;s representation regarding &ldquo;No Conflicts; Consents.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><SUP>[1]</SUP></FONT>
This reference to a &ldquo;planned&rdquo; reverse stock split in a representation cannot by itself create a contractual obligation.
Further, we reference the Closing 8-K where the Company references the automatic conversion of the Series A Preferred Stock upon
the effectiveness of any future reverse split; there is no mention of a requirement to effectuate a reverse stock split because
that was never the intent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Please note that the Company&rsquo;s
Chief Executive Officer and principal shareholder is a holder of a majority of the Company&rsquo;s voting power and he alone has
enough votes to take any shareholder action he deems appropriate including effectuating the reverse split and/or name change. As
discussed above, no party to the SEA has any rescission rights related to the SEA nor is there any remedies provided for in the
SEA for failure to effectuate a reverse split. If the reverse split does not take place, the Company would still be able to issue
Preferred Stock and debt in order to raise capital. However, any such offering would likely be oppressive to the Company&rsquo;s
current shareholders.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 11pt; color: Gray"><TR STYLE="vertical-align: top; text-align: left"><TD><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Matthew Derby, Esq.</P><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Securities and Exchange Commission</P><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">June 12, 2019</P><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD></TR><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 5</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">Clearly
permitting that to occur is not in the public interest or necessary for the protection of the Company&rsquo;s many shareholders.
Within two months or less the Company shall file the required RedCat financial statements and the required pro forma financial
statements. Further, within two months the Company will file a Form 10-Q disclosing information relating to the business of RedCat
as well as the ongoing operations of the Company&rsquo;s legacy business. There is no purpose in requiring this small company to
spend substantial sums of its limited funds to comply with Regulation MA &ndash; especially since we believe it does not apply.
</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.15pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: -0.15pt">Please
feel free to contact me should you require additional information at (561) 644-2222 or my partner, Brian Bernstein, Esq. at (305)
776-0916. </FONT></P>

<P STYLE="font: 12pt/150% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">Sincerely yours,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">NASON, YEAGER, GERSON,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.5in">HARRIS &amp; FUMERO, P.A.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">/s/ Michael D. Harris</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">cc:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Jeff Thompson (via email)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Brian S. Bernstein, Esq. (via email)</P>

<P STYLE="font: 12pt/150% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 7pt/150% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
