<SEC-DOCUMENT>0001387131-16-007596.txt : 20170117
<SEC-HEADER>0001387131-16-007596.hdr.sgml : 20170116
<ACCEPTANCE-DATETIME>20161028164614
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001387131-16-007596
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20161028

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIGHTPATH TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000889971
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				860708398
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2603 CHALLENGER TECH CT
		STREET 2:		SUITE 100
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32826
		BUSINESS PHONE:		4073824003
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><IMG SRC="lpth-corresp_img001.jpg" ALT="" STYLE="height: 62px; width: 263px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">October 28, 2016</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-style: normal">VIA EDGAR CORRESPONDENCE</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="font-style: normal">TRANSMISSION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ms. Amanda Ravitz</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Assistant Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Office of Electronics and Machinery</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporate Finance &ndash; Mail Stop 3030</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">Washington, DC 20549</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in"><FONT STYLE="font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><B>LightPath Technologies, Inc. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Preliminary Proxy Statement on Schedule 14A</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>Filed September 26, 2016</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><B>File No. 000-27548</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0; text-align: justify">Dear Ms. Ravitz:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">LightPath Technologies, Inc., a Delaware
corporation (the &ldquo;Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo;), is submitting this letter in
response to the comment letter from the staff (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
dated October 20, 2016 (the &ldquo;Comment Letter&rdquo;), with respect to the Company&rsquo;s Preliminary Proxy Statement on Schedule
14A (File No. 000-27548) (the &ldquo;Proxy Statement&rdquo;) filed with the Commission on September 26, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">This letter sets forth the comments of
the Staff in the Comment Letter (numbered in accordance with the Comment Letter) and, following the comment, sets forth our response.
We are also simultaneously filing a revised Preliminary Proxy Statement in response to the Staff&rsquo;s comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Relationship of the Parties, page
7</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify"><I>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><I>Please revise
to clarify the extent to which ISP relies on sales to you. We note, in this regard, the disclosures on pages 43 and F-29 that unnamed
customers accounted for a substantial amount of ISP&rsquo;s revenues as of June 30, 2016 and December 31, 2015. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Response:</U> ISP had minimal sales
to the Company for the referenced periods. We have revised our disclosure under the &ldquo;Relationship of the Parties&rdquo; section
to provide information regarding ISP&rsquo;s sales to the Company for the referenced periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Cost of Goods Sold, page 56</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify"><I>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><I>Please more clearly
describe the &ldquo;custom product mix variances&rdquo; that contributed to your lower gross margin. Also, please quantify the
increase in cost of raw materials and clarify to what raw materials you refer and the reasons for the increase. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Response:</U> We have revised the
disclosure under the &ldquo;Costs of Goods Sold&rdquo; section to include additional information regarding factors and a quantification
of certain cost increases that contributed to ISP&rsquo;s lower gross margin for the period in question. We also included additional
disclosure related to reasons for certain of such increases.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Response of LightPath Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">to Staff Comment Letter of October 20, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Revenues, page 57</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify"><I>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><I>We note your revenues
appear to have increased significantly in fiscal year 2015 compared to fiscal year 2014 due to &ldquo;an increase in sales.&rdquo;
Please revise to clarify the extent to which the &ldquo;increase in sales&rdquo; relates to changes in prices or to changes in
the volume of goods being sold, and the reasons underlying those changes. Refer to Item 303(a)(3)(iii). Please revise to provide
similar clarification to your disclosure regarding the interim periods referenced on page 56. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Response:</U> We have revised the
disclosure under the &ldquo;Revenues&rdquo; section to more fully describe the basis and reasons for ISP&rsquo;s &ldquo;increase
in sales&rdquo; and to clarify and quantify the extent to which the &ldquo;increase in sales&rdquo; related to price increases
instead of changes in the volume of products sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Liquidity and Capital Resources, page
58</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify"><I>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><I>Please disclose
which loan matured in January of 2016 and disclose the status and material terms of that loan or advise. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Response</U>: We have revised the
disclosure under the &ldquo;Liquidity and Capital Resources&rdquo; section to provide additional information regarding the ISP
loan that matured in January 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Key Performance Indicators, page 59</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify"><I>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><I>We note the &ldquo;key
performance indicators&rdquo; ISP&rsquo;s management uses to &ldquo;regularly measure its performance and other trends or challenges
seen in the industry.&rdquo; In addition to listing these metrics, please revise to clarify what these metrics, and the related
&ldquo;variance analyses,&rdquo; exhibit to ISP&rsquo;s management regarding how ISP is performing, the material trends and challenges
it faces and &ldquo;necessary operating actions and changes.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Response</U>: We have revised the
disclosure under the &ldquo;Key Performance Indicators&rdquo; section to provide additional information regarding how ISP&rsquo;s
management uses the key performance indicators. ISP has made various adjustments in its business from time to time based on such
metrics. Currently, ISP&rsquo;s management has not, through the use of these metrics, identified any material trends or challenges
in its business or any necessary operating actions and changes to be made at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Independent Auditor&rsquo;s Report,
page F-35</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 -11pt; text-align: justify"><I>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><I>We note that BDO
USA LLP did not audit the financial statements of the foreign subsidiary of ISP and their opinion, insofar as it relates to the
amounts included for such subsidiary, is based solely on the report of the other auditors. Please amend the filing to include the
audit report of the other auditors on whose work BDO USA LLP relied upon in reaching their opinion on the financial statements
of ISP. Refer to Rule 2-05 of Regulation S-X. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><U>Response</U>: The Company acknowledges
the Staff&rsquo;s comment and the filing has been amended to include the audit report of the auditors on whose work BDO USA LLP
relied upon in reaching their opinion on the financial statements of ISP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Should there be any questions that might
be facilitated by contemporaneous dialogue, please contact our counsel, Jeffrey Decker of Baker &amp; Hostetler LLP at (407) 649-4017,
or me at (407) 382-4003, extension 377.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">Sincerely,</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 20%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 100%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ J. James Gaynor&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">J. James Gaynor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


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