<SEC-DOCUMENT>0000950123-09-047240.txt : 20120913
<SEC-HEADER>0000950123-09-047240.hdr.sgml : 20120913
<ACCEPTANCE-DATETIME>20090930114512
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-09-047240
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20090930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ID ARIZONA CORP.
		CENTRAL INDEX KEY:			0001460329
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		ROOM 902 AND 903, 500 WEIHAI ROAD
		STREET 2:		JING AN DISTRICT
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200041
		BUSINESS PHONE:		86-21-5401-0959

	MAIL ADDRESS:	
		STREET 1:		ROOM 902 AND 903, 500 WEIHAI ROAD
		STREET 2:		JING AN DISTRICT
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			200041

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ID ARIZONA CORP.
		DATE OF NAME CHANGE:	20090330
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>corresp</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">

</DIV>
<DIV style="position: relative; float: right; width: 35%">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="g18264r1g1826476.gif" alt="(Akerman Senterfitt Logo)">
</DIV>

</DIV>
<BR clear="all"><BR>
<P><DIV style="position: relative; float: left; width: 55%">

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">Dallas<BR>
Denver<BR>
Fort Lauderdale<BR>
Jacksonville<BR>
Los Angeles<BR>
Madison<BR>
Miami<BR>
New York<BR>
Orlando<BR>
Tallahassee<BR>
Tampa<BR>
Tysons Corner<BR>
Washington, DC<BR>
West Palm Beach

</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 35%">

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">One Southeast Third Avenue<BR>
25th Floor<BR>
Miami, Florida 33131-1714

</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">www.akerman.com

</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt">305 374 5600 <I>tel </I>305 374 5095 <I>fax</I>

</DIV>
</DIV>
<BR clear="all"><BR>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">September&nbsp;30, 2009
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Larry Spirgel, Assistant Director<BR>
Mr.&nbsp;Scott Hodgdon, Attorney-Advisor<BR>
United States Securities and Exchange Commission<BR>
Division of Corporation Finance<BR>
100 F Street, N.E., Mail Stop 3561<BR>
Washington, D.C. 20549

</DIV>

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Re:</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>ID Arizona Corp.</B><BR>
<B>Amendment No.&nbsp;2 to Registration Statement on Form&nbsp;S-4</B><BR>
<B>File No.&nbsp;333-158336</B><BR>
<B>Filed September&nbsp;10, 2009</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Mr.&nbsp;Spirgel and Mr.&nbsp;Hodgdon:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On behalf of ID Arizona Corp. (the &#147;Company&#148;), we hereby amend the response to Comment No.&nbsp;4
to clarify the example in our response to the Commission Staff&#146;s comment letter dated September&nbsp;18,
2009 regarding the Company&#146;s Amendment No.&nbsp;2 to the Registration Statement on Form S-4 filed on
September&nbsp;10, 2009 (the &#147;Registration Statement&#148;). Please note that the Company filed Amendment
No.&nbsp;3 to the Registration Statement (&#147;Amendment No.&nbsp;3&#148;) on September&nbsp;23, 2009. Capitalized terms
used but not defined in this letter are used as defined in Amendment No.&nbsp;3.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please note that for the Staff&#146;s convenience, we have recited the Staff&#146;s comment in boldface
type and provided the Company&#146;s responses immediately thereafter.
</DIV>

<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><U><B>Ideation&#146;s Reasons for the Business Combination and Recommendation of the Ideation Board of
Directors, page 107</B></U></DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>4.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>We note that management assumed a 30% conversion of Ideation stockholders in
calculating the price earnings ratio of 6.7x. In light of your proposed charter
amendment and its effect of significantly increasing the potential conversion percentage,
discuss whether management considered revising its price earnings ratio. It would appear
that the conversion percentage could reflect all public stockholders converting.</B></TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Larry Spirgel<BR>
Mr.&nbsp;Scott Hodgdon<BR>
September&nbsp;30, 2009<BR>
Page 2<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">In response to the Staff&#146;s comment, the Company respectfully advises the Staff that
management reviewed the impact of higher conversion on the price earnings ratio and
concluded that it was not necessary to revise the price earnings ratio. As conversion
increases, the number of total outstanding shares decreases which results in a higher
adjusted EPS and a lower implied price earnings ratio. A lower price earnings ratio
reflects a more favorable valuation ratio relative to the peer companies; therefore
management did not believe it was necessary to revise the price earnings ratio to reflect
a lower figure.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">To illustrate this, the Company provides the following example for the benefit of the
Staff:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">At 100% conversion and 100% earnout, assuming $18.25&nbsp;million of backstop shares at
$7.88 per share, the total shares outstanding would be 27.8&nbsp;million which implies a
2009E EPS of $1.38 and a 2009E P/E of 5.7x, compared to 6.7x at 30% conversion.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">* * * * *
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with responding to the Staff&#146;s comments, we acknowledge (1)&nbsp;should the
Commission or the Staff, acting pursuant to delegated authority, declare the filing effective, it
does not foreclose the Commission from taking any action with respect to the filing, (2)&nbsp;the action
of the Commission or the Staff, acting pursuant to delegated authority, in declaring the filing
effective, does not relieve the Company from its full responsibility for the adequacy and accuracy
of the disclosure in the filing, and (3)&nbsp;the Company may not assert staff comments and the
declaration of effectiveness as a defense in any proceeding initiated by the Commission or any
person under the federal securities laws of the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you have any questions, please call me at (305)&nbsp;982-5581.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Sincerely,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Michael Francis
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Michael Francis&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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