<SEC-DOCUMENT>0001493152-22-015138.txt : 20250815
<SEC-HEADER>0001493152-22-015138.hdr.sgml : 20250815
<ACCEPTANCE-DATETIME>20220526115704
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001493152-22-015138
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220526

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			J-Star Holding Co., Ltd.
		CENTRAL INDEX KEY:			0001875016
		STANDARD INDUSTRIAL CLASSIFICATION:	 [3949]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		7/F-1, NO. 633, SEC. 2, TAIWAN BLVD.
		STREET 2:		XITUN DISTRICT
		CITY:			TAICHUNG CITY 407
		STATE:			F4
		ZIP:			40759
		BUSINESS PHONE:		886 423229900

	MAIL ADDRESS:	
		STREET 1:		7/F-1, NO. 633, SEC. 2, TAIWAN BLVD.
		STREET 2:		XITUN DISTRICT
		CITY:			TAICHUNG CITY 407
		STATE:			F4
		ZIP:			40759
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">May 26, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><SUB>&nbsp;</SUB></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">VIA EDGAR TRANSMISSION</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities and Exchange Commission</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Division of Corporation Finance</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Office of Manufacturing</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington, D.C. 20549</P>

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

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<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 0.5in">Re:</TD>
  <TD STYLE="text-align: justify">J-Star Holding Co., Ltd. (the
  &ldquo;<B>Company</B>&rdquo;)</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Registration Statement on Form
F-1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Filed March 21, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">File No. 333-263755</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear SEC Officers,</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As counsel for the Company and on its behalf, this
letter is being submitted in response to the letter dated April 12, 2022 from the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;)
in which the staff of the Commission (the &ldquo;<B>Staff</B>&rdquo;) commented on the above-referenced Registration Statement on Form
F-1 (the &ldquo;<B>Form F-1</B>&rdquo;). For the Staff&rsquo;s convenience, the Staff&rsquo;s comments have been stated below in their
entirety, with the Company&rsquo;s responses set out immediately underneath those comments. Please note that all references to page numbers
in the responses are references to the page numbers in a revised Form F-1 (the &ldquo;<B>Revised F-1</B>&rdquo;), filed concurrently with
the submission of this letter in response to the Staff&rsquo;s comments.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>Amendment No. 1 to Form F-1 filed March 21,
2022</U></B></P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">We note your disclosure in the second paragraph on the cover page and the disclosure in the three bullet
points after the second paragraph. Please revise your disclosure to acknowledge that Chinese regulatory authorities could disallow your
corporate structure, which would likely result in a material change in your operations and/or a material change in the value of the securities
you are registering for sale, including that it could cause the value of such securities to significantly decline or become worthless.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>Response</I></B><I>: We respectfully
advise the Staff that the relevant disclosure is made accordingly on the Cover Page and in the Risk Factors of the Revised F-1 on page
36.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Provide prominent disclosure about the <I>legal and operational</I> risks associated with being based
in or having the majority of the company&rsquo;s operations in China. Your disclosure should make clear whether these risks could result
in a material change in your operations and/or the value of the securities you are registering for sale or could significantly limit or
completely hinder your ability to offer or continue to offer securities to investors and cause the value of such securities to significantly
decline or be worthless. Please include corresponding disclosure in the prospectus summary.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response</I></B>:
<I>We respectfully advise the Staff that the relevant disclosure is made accordingly in the Prospectus Summary of the Revised F-1 on
page 4 and 6 and in the Risk Factors of the Revised F-1 on page 13.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">We note your disclosure in the third paragraph of the cover page about actions and statements and the
impact. Please clarify whether these recent statements and regulatory actions by China&rsquo;s government have or may impact the company&rsquo;s
ability to conduct its business, accept foreign investments, or list on a U.S. or other foreign exchange. Please include corresponding
disclosure in the prospectus summary.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>Response</I></B><I>: We respectfully
advise the Staff that the relevant disclosure is made accordingly on the Cover Page and in the Prospectus Summary of the Revised F-1
on page 6.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I></I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">Provide a description of how cash is transferred through your organization and disclose your intentions
to distribute earnings or settle amounts owed under the agreements. State whether any transfers, dividends, or distributions have been
made to date between the holding company, its subsidiaries or to investors, and quantify the amounts where applicable. Do not limit your
disclosure on the cover page to dividends, as is currently suggested and in light of the disclosures beginning on page 8. Please disclose
whether cash generated from one subsidiary is used to fund another subsidiary&rsquo;s operations, whether your subsidiaries have ever
faced difficulties or limitations on their ability to transfer cash between subsidiaries, and whether your subsidiaries have cash management
policies that dictate the amount of such funding. Also, disclose whether your subsidiaries have cash management policies/procedures that
dictate how funds are transferred.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response:</I></B><I>
We respectfully advise the Staff that the relevant disclosure is made accordingly on the Cover Page and in the Prospectus Summary of
the Revised F-1 on page 8 and 9.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Risks Related to this Offering and Ownership of
Our Ordinary Shares, page 5</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">Please revise the disclosure in the first bullet point on page 5 to disclose that trading in your securities
may be prohibited under the Holding Foreign Companies Accountable Act if the PCAOB determines that it cannot inspect or investigate completely
your auditor, and that as a result an exchange may determine to delist your securities. Disclose whether your auditor is subject to the
determinations announced by the PCAOB on December 16, 2021.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>Response:</I></B><I> We respectfully
advise the Staff that the relevant disclosure is made accordingly in the Prospectus Summary of the Revised F-1 on page 5.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>PRC Approvals, page 6</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">6.</TD><TD STYLE="text-align: justify">We note your response to prior comment 2. Regarding your disclosure about pre-approval requirements to
conduct your offering and permissions to conduct your business, identify counsel and file the consent of counsel if you relied on the
advice of counsel. If you did not consult counsel, please explain why you did not do so.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response:</I></B><I>
We respectfully advise the Staff that the relevant disclosure is made accordingly in the Prospectus Summary of the Revised F-1
on page 6 and in the Risk Factors of the Revised F-1 on page 39.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><U>Proposed PRC Cybersecurity
Measures, page 6</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">7.</TD><TD STYLE="text-align: justify">Generally, please ensure that your discussion of PRC laws, rules and regulations is current. For example,
we note the references on pages 6, 15, 18 and 30 to the amendment after it becomes &ldquo;effective on February 15, 2022.&rdquo; If you
relied on counsel in determining you are not subject to CAC regulation, please identify counsel and file their consent as an exhibit.
If you did not consult counsel, explain why you did not consult counsel.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response:</I></B><I>
We respectfully advise the Staff that the relevant disclosure is made accordingly on pages 6, 7, 15, 18, 31, 111 and 115
of the Revised F-1.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><U>Enforceability of
Civil Liabilities, page 51</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">8.</TD><TD STYLE="text-align: justify">We note the disclosure on pages 118-119 about your officers and directors. Please revise the disclosure
on page 51 to discuss, if applicable, the extent to which your directors and officers are nationals or residents of the PRC and discuss
the difficulty of bringing actions against them and enforcing judgments against them. Also, revise the appropriate risk factor to highlight
such risk.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response:</I></B><I>
We respectfully advise the Staff that the relevant disclosure is made accordingly on pages 46 and 52 of the Revised F-1.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>Exhibits</U></P>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">9.</TD><TD STYLE="text-align: justify">Please have counsel revise its opinion to remove the assumption in sections 2(f) and (h) of exhibit 5.1
or tell us why they believe those assumptions are appropriate.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response: </I></B><I>We
respectfully advise that the Cayman counsel has revised its opinion in exhibit 5.1 accordingly.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><U>General</U></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">10.</TD><TD STYLE="text-align: justify">Page 121 and Exhibits 99.1-99.3 indicate there are director nominees. The signature page and disclosure
on pages 118-119 indicate the nominees are actually already serving as directors. Please reconcile.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><B><I>Response:</I></B><I>
We respectfully advise the Staff that the relevant reconciliation is made accordingly on page 120 of the Revised F-1 and Exhibits
99.1-99.3.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Please contact the undersigned at +852 3923 1188 if
you have any questions with respect to the responses contained in this letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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  <TR>
    <TD STYLE="border-bottom: black 1.5pt solid; width: 50%"><FONT STYLE="font-size: 10pt"><I>/s/ Lawrence S. Venick</I></FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt">Lawrence S. Venick</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt"><B>Direct Dial:</B> +852.3923.1188</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-size: 10pt"><B>Email: </B>lvenick@loeb.com</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
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