-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IjXTqnfQEYHFRLRfVlexVzxLVZKHV7nEEYS7pfVsE8SitLbMqp/E7bjgzaDeilEc wy+Woi43KGrLrDSEKZLzyA== 0000000000-05-042175.txt : 20060609 0000000000-05-042175.hdr.sgml : 20060609 20050815165041 ACCESSION NUMBER: 0000000000-05-042175 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050815 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: CERAMICS PROCESS SYSTEMS CORP/DE/ CENTRAL INDEX KEY: 0000814676 STANDARD INDUSTRIAL CLASSIFICATION: POTTERY & RELATED PRODUCTS [3260] IRS NUMBER: 042832509 STATE OF INCORPORATION: DE FISCAL YEAR END: 1229 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 111 SOUTH WORCESTER STREET STREET 2: PO BOX 338 CITY: CHARTLEY STATE: MA ZIP: 02712 BUSINESS PHONE: 508-222-0614 MAIL ADDRESS: STREET 1: 111 SOUTH WORCESTER STREET STREET 2: PO BOX 338 CITY: CHARTLEY STATE: MA ZIP: 02712 PUBLIC REFERENCE ACCESSION NUMBER: 0000814676-05-000005 LETTER 1 filename1.txt July 27, 2005 By U.S. mail and facsimile to (508) 222-0220 Grant C. Bennett President and Treasurer Ceramics Process Systems Corporation 111 South Worcester Street P.O. Box 338 Chartley, MA 02712-0338 RE: Ceramics Process Systems Corporation Form 10-K for the fiscal year ended December 25, 2004 Filed March 28, 2005 File No. 0-16088 Dear Mr. Bennett: We have reviewed your response letter dated July 18, 2005 and have the following additional comments. If you disagree, we will consider your explanation as to why our comment is inapplicable. After reviewing this information, we may or may not raise additional comments. Form 10-K for the year ended December 25, 2004 Financial Statements Report of Independent Registered Public Accounting Firm 1. We have reviewed your response to prior comment 3 in our letter dated June 30, 2005. Please amend the Form 10-K for the year ended December 25, 2004 to revise the wording in the audit report to indicate that the predecessor auditor has ceased operations. Footnote 2 of interpretation 15 of AU Section 508 states: "A firm may cease operations with respect to public entities and still issue audit opinions with respect to non-public entities." (2) Summary of Significant Accounting Policies 2. We have reviewed your response to prior comment 4 in our letter dated June 30, 2005. We assume that you only recognize an impairment loss when the carrying value of the asset exceeds the undiscounted future cash flows expected to be generated by the asset. If true, in future filings, please disclose this fact as part of your policy. * * * * As appropriate, please respond to these comments within 10 business days or tell us when you will provide us with a response. Please furnish a letter that keys your responses to our comments and provides any requested supplemental information. Detailed response letters greatly facilitate our review. Please file your response letter on EDGAR. Please understand that we may have additional comments after reviewing your responses to our comments. You may contact Jenn Do at (202) 551-3743, or me at (202) 551- 3255 if you have questions regarding these comments. Sincerely, Nili Shah Branch Chief ?? ?? ?? ?? Grant C. Bennett Ceramics Process Systems July 27, 2005 Page 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549-7010 DIVISION OF CORPORATION FINANCE -----END PRIVACY-ENHANCED MESSAGE-----