<SEC-DOCUMENT>0001140361-13-038541.txt : 20131218
<SEC-HEADER>0001140361-13-038541.hdr.sgml : 20131218
<ACCEPTANCE-DATETIME>20131011160333
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001140361-13-038541
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20131011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOTORCAR PARTS AMERICA INC
		CENTRAL INDEX KEY:			0000918251
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				112153962
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2929 CALIFORNIA STREET
		CITY:			TORRANCE
		STATE:			CA
		ZIP:			90503
		BUSINESS PHONE:		3109724015

	MAIL ADDRESS:	
		STREET 1:		2929 CALIFORNIA STREET
		CITY:			TORRANCE
		STATE:			CA
		ZIP:			90503

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MOTORCAR PARTS  AMERICA INC
		DATE OF NAME CHANGE:	20040112

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MOTORCAR PARTS & ACCESSORIES INC
		DATE OF NAME CHANGE:	19940128
</SEC-HEADER>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">U.S. Securities and Exchange Commission</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">100 F Street, N.E.</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Motorcar Parts of America, Inc.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 63pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Post-effective Amendment No. 1 to Form S-1</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 63pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Filed September 3, 2013</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 63pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">File No. 333-182075</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Dear Mr. Dobbie:</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On behalf of Motorcar Parts of America, Inc. (the &#8220;<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Company</u></font>&#8221;), we submit this letter in response to the comments and requests for additional information contained in the letter (the &#8220;<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Comment Letter</u></font>&#8221;) from the staff of the Division of Corporation Finance (the &#8220;<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Staff</u></font>&#8221;) of the U.S. Securities and Exchange Commission (the &#8220;<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Commission</u></font>&#8221;), dated September 30, 2013 related to the above-referenced Post-effective Amendment No. 1 to Form S-1 (the &#8220;<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Amendment</u></font>&#8221;), filed on September 3, 2013.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Company has revised the Amendment in response to the Comment Letter and is concurrently filing via EDGAR an amended Post-effective Amendment No. 1 to Form S-1 (the &#8220;<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>Amended Amendment</u></font>&#8221;) that reflects these revisions and generally updates the information contained therein. We are supplementally providing two blacklined copies of the Amended Amendment, marked to illustrate changes from the Amendment filed on September 3, 2013.</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For your convenience, the exact text of the comments provided by the Staff has been included in bold face type preceding each response in the order presented in the Comment Letter. Unless the context otherwise requires, all references to page numbers in the responses to the Staff&#8217;s comments correspond to the pages in the Amended Amendment.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">October 11, 2013</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Page 2</div>

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<div style="FONT-WEIGHT: bold"><u>General</u></div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">We note that this post-effective amendment covers 1,941,975 shares of your common stock, which is the sum of shares from two prior registration statements: (1) Form S-1 (333-182075) which was declared effective on January 7, 2013 and (2) Form S-1MEF (333-186535) which was automatically effective on February 8, 2013. Please tell us your basis for combining these two separate registration statements in one post-effective amendment.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Response: Form S-1 (333-182075), which was declared effective on January 7, 2013, covers 1,936,000 shares of our common stock which were issued on April 26, 2012 pursuant to the Subscription Agreement, dated April 20, 2012, between selling securityholders and us (the &#8220;Subscription Agreement&#8221;), to such selling securityholders in a private placement exempt from registration under the Securities Act of 1933, as amended, in reliance upon Rule 506 of Regulation D. Pursuant to the Registration Rights Agreement, which relates to the Subscription Agreement, dated April 20, 2012, between the selling securityholders and us (the &#8220;Registration Rights Agreement&#8221;), in connection with such issuance, we agreed to file a registration statement to register the shares of common stock issued pursuant to the Subscription Agreement. Additionally, pursuant to the Registration Rights Agreement, failure to meet certain deadlines with respect to the filing and effectiveness of such registration statement would result in our payment to the selling securityholders of liquidated damages to be settled either in cash or shares of our common stock. Blue Clay Capital Master Fund Ltd. and Grand Slam Capital Master Fund, Ltd., two of the selling securityholders, settled their liquidated damages in the form of an aggregate amount of 5,975 shares of our common stock, which are covered by Form S-1MEF (333-186535), which was automatically effective on February 8, 2013. Pursuant to 17 CFR 230.429, we are filing this post-effective amendment to cover the aggregate amount of 1,941,975 shares of our common stock issued to selling securityholders pursuant to the Subscription Agreement and Registration Agreement.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Summary, page 2</u></div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Please revise to disclose any instances of material default, non-compliance, or waivers to your loan agreements. In this regard, we note the discussion of defaults on pages 14 and 24 of your Form 10-Q for the Quarterly Period Ended June 30, 2013. Similarly, we note the waivers discussed on pages 13 and 23 of your Form 10-Q.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Response: In response to the Staff&#8217;s comment, the Company has revised the Summary as appropriate and included disclosure relating to instances of material default, non-compliance, or waivers to its loan agreements.</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Please revise to disclose your net losses and revenues for your last completed fiscal year and most recent interim period.</td>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Response: In response to the Staff&#8217;s comment, the Company has revised the Summary to disclose net losses and revenues for the Company&#8217;s last completed fiscal year and most recent interim period.</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">October 11, 2013</div>

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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">We note your disclosure in the second paragraph regarding bankruptcy petitions for what appear to be subsidiaries of your company. Please revise this section to clarify the nature of the relationship between your company and the listed entities, and the effects of any bankruptcy proceedings on these entities.</td>
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<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Response: In response to the Staff&#8217;s comment, the Company has revised the second paragraph of the Summary to clarify the nature of the relationship between the Company and the listed entities, and the effects of any bankruptcy proceedings on these entities.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Risk Factors, page 3</u></div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
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<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Please disclose the current status, quantitatively, as appropriate, with respect to any material debt covenants for which you were noncompliant or received waivers.</td>
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</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Response: In response to the Staff&#8217;s comment, the Company has revised page&#160;4 to the Registration Statement.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Selling Securityholders, page 8</u></div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
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<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">6.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Please revise the table on page 9 to reflect the additional shares registered for resale by Blue Clay Capital Master Fund Ltd. and Grand Slam Capital Master Fund, Ltd., in your Form S-1MEF filed February 8, 2013 (333-186535).</td>
</tr>
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</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Response: In response to the Staff&#8217;s comment, the Company has revised the table on page&#160;10 to reflect the additional shares registered for resale by Blue Clay Capital Master Fund Ltd. and Grand Slam Capital Master Fund, Ltd., in the Company&#8217;s Form S-1MEF filed February 8, 2013 (333-186535).</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">* * * *</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Once you have had time to review the Company&#8217;s responses to the Staff&#8217;s comments, we would appreciate the opportunity to discuss any additional questions or concerns that you may have. Please feel free to contact me by telephone at (213) 891-7421.</div>

<div><br>
</div>

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<div>&#160;</div>
</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Sincerely,</div>
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<td style="WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
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<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 30%; VERTICAL-ALIGN: top">
<div>&#160;</div>
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<td style="WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
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<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
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<td style="BORDER-BOTTOM: black 2px solid; WIDTH: 30%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">/s/ Steven B. Stokdyk</div>
</td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
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<div>&#160;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Steven B. Stokdyk</div>
</td>
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<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">of Latham &amp; Watkins LLP</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">cc:</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Michael Umansky, Motorcar Parts of America, Inc.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">Selwyn Joffe, Motorcar Parts of America, Inc.</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
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