<SEC-DOCUMENT>0001683168-24-008759.txt : 20251217
<SEC-HEADER>0001683168-24-008759.hdr.sgml : 20251217
<ACCEPTANCE-DATETIME>20241216170003
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001683168-24-008759
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOCERA, INC.
		CENTRAL INDEX KEY:			0001756180
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE PRODUCTION - LIVESTOCK & ANIMAL SPECIALTIES [0200]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				161626611
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2030 POWERS FERRY RD., SE, SUITE 212
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30339
		BUSINESS PHONE:		(404) 816-8240

	MAIL ADDRESS:	
		STREET 1:		2030 POWERS FERRY RD., SE, SUITE 212
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30339
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Nocera, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">2030 Powers Ferry Road SE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Suite No. 212</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Atlanta, Georgia 30339</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">December 16, 2024</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, NE</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nocera, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Form 10-Q for Fiscal Quarter Ended September
    30, 2024</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Filed November 14, 2024</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>File No. 001-41434</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Ms. Shafique and Mr. Pavot:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On behalf of Nocera, Inc.
(the &ldquo;Company,&rdquo; &ldquo;Nocera,&rdquo; &ldquo;we,&rdquo; &ldquo;us,&rdquo; or &ldquo;our&rdquo;), this letter responds to comments
provided by the staff of the Division of Corporation Finance (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission (the
&ldquo;Commission&rdquo;) provided to the undersigned on December 4, 2024, regarding the Company&rsquo;s Form 10-Q for the fiscal quarter
ended September 30, 2024 (the &ldquo;10-Q&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For your convenience, the
Staff&rsquo;s comments have been restated below and the Company&rsquo;s responses are set forth immediately under the restated comments.
Unless otherwise indicated, defined terms used herein have the meanings set forth in the 10-Q. We have filed Amendment No. 1 to the 10-Q
(the &ldquo;Amendment&rdquo;) with the Commission today.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 247.25pt 0pt 7.75pt"><U>Form 10-Q filed November 14, 2024 Statements of
Cash Flows, page 6</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.7pt"></TD><TD STYLE="width: 35.4pt">1.</TD><TD STYLE="text-align: justify; padding-right: 50.2pt">It appears that the cash acquired in business combinations should be classified
as investing activities instead of as financing activities. See ASC 230-10-20.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 50.2pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to this comment,
the Company advises the Staff that the cash flows associated with cash acquired in business combinations have been reclassified as investing
activities in accordance with ASC 230-10-20.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 247.25pt 0pt 7.75pt"><U>Note 1. Principal Activities and Organization
The VIE Agreements with Xinca, page 9</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 247.25pt 0pt 7.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.7pt"></TD><TD STYLE="width: 35.4pt">2.</TD><TD STYLE="text-align: justify; padding-right: 23.5pt">Regarding the January 31, 2024 Xinca acquisition, please include a footnote containing
the business combination disclosures required by ASC 805-10-50 and ASC 805-20-50-1(c). Explain why no significant purchase price appears
to have been allocated to identified intangible assets. Based on the disclosure in Note 8, it appears that Xinca comprises 20% of your
total assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Response: </B>In response to this comment, the Company advises the
Staff that the footnotes to the financial statements have been updated to include the business combination disclosures required by ASC
805-10-50 and ASC 805-20-50-1(c). Xinca and SY Culture operate in the e-commerce industry, which is characterized by relatively high variability
compared to other sectors due to rapid technological advancements, evolving consumer preferences, and competitive dynamics. These factors
presented significant challenges in assigning a precise valuation to specific intangible assets within these acquisitions. Furthermore,
the acquisition premium for both transactions was limited, which supported the decision to allocate the relevant portion of the purchase
price to goodwill. This treatment more accurately reflects the nature of the transactions and the expected future benefits, which are
tied to synergies and strategic opportunities rather than identifiable intangible assets. Additionally, as disclosed in Note 8, Xinca&rsquo;s
assets amount to $1,351,703, which represents approximately 19.1% of the Company&rsquo;s total assets as of the reporting date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.5pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.5pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.5pt 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 7.75pt"></TD><TD STYLE="width: 35.35pt">3.</TD><TD STYLE="text-align: justify">Your response to prior comment 5 does not explain how $379,525 of trade receivables were acquired in the
Xinca acquisition when Xinca only generated $80,798 of annual revenue. Please clarify. See also the relevant guidance in ASC 805-20-50-1(b).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to this comment,
the Company advises the Staff that Note 21 has been updated to provide additional clarification regarding the $379,525 of trade receivables
acquired in the Xinca acquisition.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.7pt"></TD><TD STYLE="width: 35.4pt">4.</TD><TD STYLE="text-align: justify; padding-right: 20.5pt">Regarding the April 14, 2024 SY Culture acquisition, please include a footnote
containing the business combination disclosures required by ASC 805-10-50 and ASC 805-20-50-1(c). Based on the disclosure in Notes 5,
8 and 9 it appears that SY Culture comprises over 25% of your total assets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20.5pt 0pt 46.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to this comment,
the Company advises the Staff that the footnotes to the financial statements have been updated to include the business combination disclosures
required by ASC 805-10-50 and ASC 805-20-50-1(c) with respect to the April 14, 2024 acquisition of SY Culture. The Company further clarifies
that, as disclosed in Notes 5, 8, and 9, SY Culture&rsquo;s assets amount to $403,697, which represents approximately 5.7% of the Company&rsquo;s
total assets as of the reporting date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.75pt"><U>Note 9. Other Non-current Assets, page 14</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.7pt"></TD><TD STYLE="width: 35.4pt">5.</TD><TD STYLE="padding-right: 23.55pt">Please expand your disclosure to fully describe the transaction that generated the prepaid rent asset.
Quantify the number of months of rent that was prepaid and explain the business purpose for this transaction in light of your adverse
liquidity position. Reconcile your disclosure with the Note 12 statement that your leases expire in 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 23.55pt 0pt 46.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Response: </B>In response to this comment, the Company advises the
Staff that Note 9 has been updated to provide additional details regarding the transaction that generated the prepaid rent asset.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.75pt"><U>Note 11. Warrants, page 14</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.75pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.7pt"></TD><TD STYLE="width: 35.4pt">6.</TD><TD STYLE="text-align: justify; padding-right: 21.9pt">We note that the warrant liability comprises 49% of your total liabilities. Please
revise your filing to disclose the accounting guidance that you are using in the valuation of this liability. In this regard, it is not
clear why there have been no fair value adjustments since December 31, 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 21.9pt 0pt 46.1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Response: </B>In response to this comment,
the Company advises the Staff that the lack of fair value adjustments since December 31, 2022, is due to the fact that when the warrants
were initially issued, the exercise price of the warrants was below the stock price, resulting in the recognition of a liability. However,
from December 31, 2022, to September 30, 2024, the exercise price of the warrants has consistently been higher than the stock price. In
consultation with our prior auditors, it was determined that reclassifying the liability as a gain during this period would not be appropriate.
Therefore, no fair value adjustments have been made to the warrant liability during this timeframe.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.75pt; text-align: justify"><U>Results of Operations, page 39</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10.75pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10.7pt"></TD><TD STYLE="width: 35.4pt">7.</TD><TD STYLE="text-align: justify; padding-right: 22.2pt">As previously requested, please ensure that you quantify the impact of both price
and volume fluctuations on your fish trading and catering business revenues. Quantify the revenue generated by each business activity
for all periods presented. Quantify the impact of your 2024 Xinca and Sy Media acquisitions on your revenues and operating results. Clearly
explain why your revenue for the quarter decreased from $7.3 million in 2023 to $1.4 million in 2024. Explain your page 41 statement that
&ldquo;there is no substantial doubt as to our ability to continue as a going concern&rdquo; given the factors identified in the prior
staff comment. Please read Item 303 of Regulation S-K.</TD></TR></TABLE>

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

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Response: </B>In response to this comment, the Company advises the Staff that the 10-Q has been updated to address the Staff&rsquo;s observations. </FONT></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We appreciate the opportunity
to respond to your comments. If you have further comments or questions, we stand ready to respond as quickly as possible. If you wish
to contact us directly you can reach us via Ross D. Carmel, Esq. of Sichenzia Ross Ference Carmel LLP at 646-838-1310.</P>

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

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    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nocera, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Andy Ching-An Jin</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc: Ross D. Carmel, Esq.</P>

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

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