<SEC-DOCUMENT>0001654954-23-015744.txt : 20240131
<SEC-HEADER>0001654954-23-015744.hdr.sgml : 20240131
<ACCEPTANCE-DATETIME>20231219114838
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001654954-23-015744
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20231219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Envela Corp
		CENTRAL INDEX KEY:			0000701719
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-JEWELRY STORES [5944]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				880097334
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1901 GATEWAY DRIVE
		STREET 2:		SUITE 100
		CITY:			IRVING
		STATE:			TX
		ZIP:			75038
		BUSINESS PHONE:		9725874049

	MAIL ADDRESS:	
		STREET 1:		1901 GATEWAY DRIVE
		STREET 2:		SUITE 100
		CITY:			IRVING
		STATE:			TX
		ZIP:			75038

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DGSE COMPANIES INC
		DATE OF NAME CHANGE:	20030703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DALLAS GOLD & SILVER EXCHANGE INC /NV/
		DATE OF NAME CHANGE:	19930114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN PACIFIC MINT INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<html><head><title>ela_corresp.htm</title><!--Document created using EDGARMaster--></head><body style="TEXT-ALIGN: justify; FONT: 10pt times new roman"><p style="MARGIN: 0px; text-align:justify;"><img src="ela_correspimg2.jpg"></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">December 18, 2023</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Envela Corporation</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">1901 Gateway Dr.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Irving, TX 75238</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong><u>VIA EDGAR</u></strong></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Accounting Branch Chief</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">United States Securities and Exchange Commission </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Division of Corporation Finance</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">100 F Street, NE </p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Washington, DC 20549</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:6%;vertical-align:top;"> <p style="margin:0px">Attention:</p></td> <td style="vertical-align:top;"> <p style="margin:0px">Aamira Chaudhry</p></td></tr> <tr style="height:15px"> <td> <p style="margin:0px"></p></td> <td style="vertical-align:top;"> <p style="margin:0px">Theresa Brillant</p></td></tr></table>&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">Re: Envela Corporation &#8211; CIK #0000701719</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">Comments concerning Form 10-K for Fiscal Year Ended December 31, 2022</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 45px; text-align:justify;">File # 001-11048</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Dear Ms. Chaudhry,</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">This letter is in response to your comments received by electronic mail dated December 12, 2023, relating to the Company&#8217;s Form 10-K dated December 31, 2022, and filed on March 16, 2023. The numbered paragraphs below correspond to the numbered comments in your letter.&nbsp;Your comments are presented in bold italics.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><u>Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations Use of Non-U.S. GAAP Financial Measures, page 19</u></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="margin:0px"> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:4%;vertical-align:top;"> <p style="margin:0px"><em><strong>1.</strong></em></p></td> <td style="vertical-align:top;"> <p style="MARGIN: 0px; text-align:justify;"><em><strong>As your measure of &#8220;EBITDA&#8221; is adjusted for additional items other than interest, taxes and depreciation and amortization, please revise your disclosure to retitle this measure. Please see Question 103.1 of the Staff&#8217;s Compliance and Disclosure Interpretations on Non-GAAP Financial Measures for further guidance.</strong></em></p></td></tr></table></p> <p style="margin:0px"></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In response to Ms. Chaudhry&#8217;s comment, the Company will, for all future filings, revise the disclosure of EBITDA so that it will be retitled as Adjusted EBITDA to the extent EBITDA is adjusted for items other than interest, taxes and depreciation and amortization.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><u>Results of Operations, page 21</u></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="margin:0px"> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="width:4%;vertical-align:top;"> <p style="margin:0px"><em><strong>2.</strong></em></p></td> <td style="vertical-align:top;"> <p style="MARGIN: 0px; text-align:justify;"><em><strong>Please quantify, discuss, and analyze changes in costs of good sold for each segment on a stand-alone basis in addition to your current discussion on gross profit. Additionally, please quantify and discuss the significant components of costs of goods sold to the extent material. See Item 303 of Regulation S-K. </strong></em></p></td></tr></table></p> <p style="margin:0px"></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">In response to Ms. Chaudhry&#8217;s comment, the Company will, for all future filings, quantify, discuss, and analyze changes in costs of goods sold for each segment on a stand-alone basis in addition to the Company&#8217;s current discussion on gross profit. In addition, to the extent material, the Company will quantify and discuss the significant components of costs of goods sold in future filings.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Should there be any additional questions or comments regarding the answers to Ms. Chaudhry&#8217;s comments, please do not hesitate to contact me at (469) 371-2388 or <u>bpedersen@envela.com</u>.</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Sincerely,</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> <p style="margin:0px"> <table style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%" cellpadding="0"> <tr style="height:15px"> <td style="BORDER-BOTTOM: #000000 1px solid;width:35%;vertical-align:top;"> <p style="margin:0px">/s/ Bret A. Pedersen</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td style="vertical-align:top;"> <p style="margin:0px">Bret A. Pedersen</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td></tr> <tr style="height:15px"> <td style="vertical-align:top;"> <p style="margin:0px">Chief Financial Officer</p></td> <td> <p style="margin:0px">&nbsp;</p></td> <td> <p style="margin:0px">&nbsp;</p></td></tr></table></p> <p style="margin:0px"></p> <p style="margin:0px">&nbsp; </p> <p style="margin: 0px"></p> <p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">&nbsp;</p> <p style="MARGIN: 0px; text-align:center;">Envela Corporation&nbsp;&nbsp;&nbsp;&nbsp;1901 Gateway Dr., Suite 100, Irving, TX&nbsp;&nbsp;75038&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972-587-4049</p> <p style="MARGIN: 0px; text-align:center;">AmericasActive:19385276.2</p><body>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
