<SEC-DOCUMENT>0001213900-15-005068.txt : 20150910
<SEC-HEADER>0001213900-15-005068.hdr.sgml : 20150910
<ACCEPTANCE-DATETIME>20150709154200
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-15-005068
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20150709

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CREATIVE REALITIES, INC.
		CENTRAL INDEX KEY:			0001356093
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		IRS NUMBER:				411967918
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		55 BROADWAY
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
		BUSINESS PHONE:		212-324-6660

	MAIL ADDRESS:	
		STREET 1:		55 BROADWAY
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WIRELESS RONIN TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20060313
</SEC-HEADER>
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    <TD STYLE="width: 33%; padding: 0; text-indent: 0">&nbsp;</TD>
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    <TD STYLE="width: 33%; padding-top: 0; padding-right: 0; padding-bottom: 0; text-align: left"><IMG SRC="img001.jpg" ALT=""></TD></TR>
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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>Paul D. Chestovich</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>Direct Dial: (612) 672-8305</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; text-indent: 0"><B>Direct Fax: (612) 642-8305</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><I>paul.chestovich@maslon.com</I></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">July 9, 2015</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase"><FONT STYLE="font-variant: small-caps; text-transform: none"><U>Via
EDGAR </U></FONT></P>

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

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

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: middle">
    <TD STYLE="font-size: 10pt; width: 100%; padding: 0; text-indent: 0">Ms. Katherine Wray</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">Attorney-Advisor</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">Securities and Exchange Commission</td></tr>
<tr style="vertical-align: middle">
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">100 F Street, N.E.</td></tr>
<tr style="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">Washington, DC 20549</td></tr>
</table>


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

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

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

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 0.3in; padding: 0; text-indent: 0"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"><B>Re:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Creative
    Realities, Inc. (the &ldquo;Company&rdquo;)</B></FONT></td></tr>
<tr style="vertical-align: middle">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Registration
    Statement on Form S-1</B></FONT></td></tr>
<tr style="vertical-align: middle">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Filed
    on January 30, 2015</B></FONT></td></tr>
<tr style="vertical-align: bottom">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>File
    No. 333-201806&nbsp;</B></FONT></td></tr>
</table>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dear Ms. Wray:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">This letter responds on behalf of the Company
to your comment letter dated February 19, 2015, with respect to above-referenced filing made by the Company with the Commission.
To facilitate your review, we have included in this letter your original comments (in bold) followed by our responses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>1.</B></TD><TD><B>As you prepare your amended document, please be aware of the requirements set forth in Rule 8-08 of Regulation S-X regarding
the age of the financial statements included in your filing. Update your financial statements and related disclosures as needed.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">RESPONSE: We have updated the filing such that it includes the Company&rsquo;s
most recent financial statements consistent with Rule 8-08 of Regulation S-X.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Selling Shareholders, page 39</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>2.</B></TD><TD><B>With respect to shares that may be offered for resale by legal entities, please disclose the individual or individuals who
exercise the voting and dispositive powers over such shares. For guidance, see Regulation S-K Compliance and Disclosure Interpretation
No. 140.02, available on our website at http://www.sec.gov/divisions/corpfin/guidance/regs-kinterp.htm.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">RESPONSE: We have revised the filing to include disclosure of the
individual natural persons having beneficial ownership over shares held in the name of entities and included in the registration
statement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ms. Katherine Wray</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>

<P STYLE="margin: 0">July 9, 2015</P>



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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>3.</B></TD><TD><B>Please revise your disclosure to indicate whether any selling stockholders are broker-dealers or affiliates of broker-dealers.
If any are registered broker-dealers who acquired their shares as investments, rather than as transaction-based compensation for
the performance of investment banking or similar services, they should be named as underwriters. With respect to any affiliates
of registered broker-dealers, you should indicate whether they acquired the securities to be resold in the ordinary course of business.
Also indicate whether at the time of the acquisition they had any agreements, understandings or arrangements with any other persons,
either directly or indirectly, to dispose of the securities.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">RESPONSE: Only Merriman Capital, Inc. is a registered broker-dealer
and only Messrs. Robert Fisk and James Allsop are affiliates of that broker-dealer. However, none of these selling shareholders
acquired their shares as investments; all such shares were acquired as transaction-based compensation for the performance of investment
banking or similar services. The above-named affiliates of Merriman Capital, Inc. acquired securities outside the ordinary course
of business. We have been advised by them that they did not, at the time of their acquisition of our securities, have any agreements,
understandings or arrangements to dispose of the securities. In the Selling Shareholder section of the prospectus, we have revised
the filing to include disclosure consistent with the above.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>4.</B></TD><TD><B>You state that you are incorporating information by reference into your registration statement in reliance upon the General
Instructions to Form S-1. In order to incorporate information by reference in accordance with Items 11A and 12 of Form S-1, you
must meet the requirements set forth in General Instruction VII to Form S-1. You do not, however, appear to have met all of these
requirements. In particular, you have not yet filed your annual report for your most recently completed fiscal year, as required
by General Instruction VII.C, nor do you appear to have made your periodic and current reports that are incorporated by reference
into your registration statement readily available and accessible on a Web site, as called for by General Instruction VII.F. Accordingly,
please amend the registration statement to include all disclosure required by Form S-1, or file your Form 10-K for the fiscal year
ended December 31, 2014 and make your periodic and current reports that are incorporated by reference available on a Web site in
accordance with General Instruction VII.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">RESPONSE: Prior to the filing of this amendment, the Company has
filed its Annual Report on Form 10-K and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, and has made the
periodic and current reports incorporated by reference into the filing readily available on the Company&rsquo;s website.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ms. Katherine Wray</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 3</P>

<P STYLE="margin: 0">July 9, 2015</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>5.</B></TD><TD><B>The legality opinion states that the shares will be validly issued, fully paid and non-assessable upon proper conversion
of the promissory notes and exercise of the warrants, as applicable. However, the disclosure in the prospectus states that a total
of 1,501,454 common shares were issued in satisfaction of converted principal. Accordingly, please provide a revised legal opinion
that states these shares are validly issued, fully paid and non-assessable, if accurate, or otherwise revise your filing as appropriate.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-indent: -36pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">RESPONSE: We have revised the legality opinion to address this issue
and included the revised opinion with the amended filing.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">As requested in your February 19, 2015, comment
letter, the Company hereby acknowledges as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt">[1]</TD><TD>the Company is responsible for the adequacy and accuracy of the disclosure in the filing;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 58.5pt; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt">[2]</TD><TD>staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action
with respect to the filing; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 58.5pt; text-indent: -22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 22.5pt">[3]</TD><TD>the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the
federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 58.5pt; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">Should you have additional comments or questions,
please direct them to the undersigned by telephone at (612) 672-8305, by fax at (612) 642-8305, or by email at paul.chestovich@maslon.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 60%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; padding: 0; text-indent: 0">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">/s/ Paul Chestovich</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Paul D. Chestovich</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 234pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 234pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">cc:&#9;John Walpuck</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 18pt">Alan Levy</P>

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

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

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
