<SEC-DOCUMENT>0001534424-17-000025.txt : 20170214
<SEC-HEADER>0001534424-17-000025.hdr.sgml : 20170214
<ACCEPTANCE-DATETIME>20170112163017
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001534424-17-000025
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20170112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			CA

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		949-769-3231

	MAIL ADDRESS:	
		STREET 1:		2361 MCGAW AVENUE
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRO-DEX, INC.
		DATE OF NAME CHANGE:	20151110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONTEXT CAPITAL FUNDS
		DATE OF NAME CHANGE:	20151104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRO DEX INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0in">January 12, 2017</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>VIA FEDEX OVERNIGHT AND</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>EDGAR CORRESPONDENCE</U></B></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Ms. Amanda Ravitz</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Assistant Director</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Office of Electronics and Machinery</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Division of Corporation Finance</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities and Exchange Commission</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mail Stop: 3030</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">100 F. Street, N.E.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington D. C. 20549</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 18pt">Re:</TD><TD STYLE="width: 18pt; text-align: left"></TD><TD STYLE="text-align: left; vertical-align: top">Pro-Dex, Inc.<BR>
Form 10-K for Fiscal Year Ended June 30, 2016<BR>
Filed September 15, 2016<BR>
File No. 000-14942</TD>
</TR></TABLE>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Ms. Ravitz:</P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This letter amends and
restates the response of Pro-Dex, Inc. (the &ldquo;Company&rdquo;, &ldquo;we&rdquo;, &ldquo;us&rdquo; or &ldquo;our&rdquo;) to
comment no. 2 provided in our letter dated December 29, 2016, which responded to the comments contained in your letter, dated December
20, 2016, relating to the Form 10-K for our fiscal year ended June 30, 2016, which was filed by the Company on September&nbsp;15,
2016 (the &ldquo;2016 Form 10-K&rdquo;). Comment no. 2 of the staff (the &ldquo;Staff&rdquo;) of the U.S. Securities and Exchange
Commission (the &ldquo;Commission&rdquo;) is set forth in bold text below, and the amended and restated response of the Company
is set forth in plain text immediately following the comment.</P>

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

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt"><B>Given the amount of the two-year contract referenced on the first
page of your definitive proxy statement filed October 17, 2016, please file that contract as an exhibit. See Regulation S-K Item
601(b)(10).</B></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify; text-indent: 0.25in">Company&rsquo;s
Response:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We respectfully submit
that the two-year contract (the &ldquo;Customer Contract&rdquo;) referenced on the first page of our definitive proxy statement
filed October 17, 2016, is not required to be filed pursuant to Regulation S-K Item 601(b)(10). Subpart (ii) of Item&nbsp;601(b)(10)
states, &ldquo;If the contract is such as ordinarily accompanies the kind of business conducted by the registrant and its subsidiaries,
it will be deemed to have been made in the ordinary course of business and need not be filed unless it falls within one or more
of the following categories, in which case it shall be filed except where immaterial in amount or significance:&hellip;&rdquo;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Further, subpart (ii)(B)
of Item&nbsp;601(b)(10) provides that the following type of contract shall be filed even if entered into in the ordinary course
of business, &ldquo;Any contract upon which the registrant&rsquo;s business is substantially dependent, as in the case of continuing
contracts to sell the major part of registrant&rsquo;s products or services or to purchase the major part of registrant&rsquo;s
requirements of goods, services or raw materials or any franchise or license or other agreement to use a patent, formula, trade
secret, process or trade name upon which registrant&rsquo;s business depends to a material extent;&hellip;&rdquo;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We respectfully submit
that the Customer Contract is &ldquo;such as ordinarily accompanies the kind of business conducted&rdquo; by us. We reach this
conclusion on the basis that we have similar development and/or supply agreements in place with four of our existing significant
customers, several former customers, as well as similar agreements in place, or currently being discussed, with other customers
that we believe could generate significant revenue in the future.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In addition, while we acknowledge
that the sales contemplated by the Customer Contract will likely be material to us in amount, the Customer Contract is not a contract
upon which our business is &ldquo;substantially dependent.&rdquo; Our business is dependent on a number of material customers,
but we do not believe it is substantially dependent on any one customer. We believe that Note 12 to the Consolidated Financial
Statements in the 2016 Form 10-K supports this assertion. Our customer that is a party to the Customer Contract is identified as
&ldquo;Customer 1&rdquo; in Note&nbsp;12 and represented 25% of our total revenue during our fiscal year ended June 30, 2016. However,
a completely different customer (identified as &ldquo;Customer 2&rdquo; in Note 12) represented 49% of our total revenue during
the prior fiscal year ended June 30, 2015. In addition, as noted in the 2016 Form 10-K, we have additional development projects
and other opportunities in progress, which we anticipate will further reduce our dependence on any one customer.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Also, the Customer Contract
does not fall within any of the other types of &ldquo;ordinary course&rdquo; contracts required to be filed pursuant to subparts
(ii)(A), (ii)(C) or (ii)(D) of Item&nbsp;601(b)(10).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In sum, given our belief
that the Customer Contract (a) was entered into in our ordinary course of business, (b) is not a contract upon which our business
is substantially dependent (as would require filing pursuant to subpart (ii)(B) of Item&nbsp;601(b)(10)), and (c) does not fall
within any of the other types of contracts enumerated in subparts (ii)(A), (ii)(C) or (ii)(D) of Item&nbsp;601(b)(10), we respectfully
submit that the Customer Contract is not required to be filed pursuant to Item 601(b)(10). The Company acknowledges that it is
responsible for continually assessing whether our business becomes substantially dependent upon the Customer Contract and acknowledges
our responsibility to file the Customer Contract as an exhibit if and when such assessment is made.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">**********</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company acknowledges that it and its management
are responsible for the accuracy and adequacy of its disclosures, notwithstanding any review, comments, action or absence of action
by the Staff.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We trust that the foregoing
is responsive to comment no. 2 contained in your letter dated December 20, 2016. However, if you should still have questions, please
feel free to contact either of us at (949)&nbsp;769-3200.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We appreciate the Staff&rsquo;s
assistance in this matter.</P>


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

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%">&nbsp;</TD>
    <TD STYLE="width: 34%">&nbsp;</TD>
    <TD STYLE="width: 33%">Respectively submitted,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/S/ Richard L. Van Kirk</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Richard L. Van Kirk, CEO</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/S/ Alisha K. Charlton</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Alisha K. Charlton, CFO</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

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