Wilshire Enterprises, Inc.
Amendment No. 1 to Preliminary Proxy Statement on Schedule 14A
Filed January 18, 2011
File No. 1-04673
Schedule 13e-3/A
Filed by Wilshire Enterprises, Inc. and Sherry Wilzig Izak
Filed January, 18 2010
File No. 5-32567
Schedule 13D/A filed by Sherry Wilzig Izak
Filed January 20, 2011
File No. 5-32567
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1.
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Please ensure that all revised preliminary proxy materials are appropriately tagged as such on EDGAR using the “PRER” tag. Please contact Filer Support at (202) 551-8900 for further guidance.
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2.
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We note the exhibit filed and revisions made in response to prior comment 5. Revise to provide further clarity and context of the differences between the draft and finalized TM Capital presentation materials. For example, clarify further how the inclusion of the 33% discount factor impacted the Board’s assessment of appropriate valuation for the company and the appropriate cash out price for shareholders of fractional shares.
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3.
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We note that none of the companies included in the list of comparable companies were of the same size or smaller than Wilshire and that many were significantly larger. Please supplement the disclosure to further explain the relevance of this fact as it applies to the determination of the discount factor. For example, revise to indicate how the discount factor would have differed had the data set of companies used been more comparable in terms of size and/or trading prices.
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4.
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We note the amendment to Schedule 13D and your response to prior comment 15 of our letter to the company. As the filing person is aware, Rule 13d-2(a) requires that persons promptly file an amendment to Schedule 13D to report any material change in the information previously reported. Please supplementally advise us of the reason, if any, for the delayed filing. We may have further comment.
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the Company (or filing person) is responsible for the adequacy and accuracy of the disclosure in the filings;
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Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action with respect to the filings; and
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the Company (or filing person) 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.
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