# EDGAR Filing Document

**Accession Number:** 0001658966
**File Stem:** 0000000000-23-000416
**Filing Date:** 2023-1
**Character Count:** 12541
**Document Hash:** f21bb71bd1703ef632d6f0ea0d92b8de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-23-000416.hdr.sgml**: 20230308

**ACCESSION NUMBER**: 0000000000-23-000416

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230113

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fig Publishing, Inc.
- **CENTRAL INDEX KEY:** 0001658966
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **IRS NUMBER:** 475336565
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** UPLOAD

**BUSINESS ADDRESS:**
- **STREET 1:** 149 5TH AVENUE
- **STREET 2:** SUITE 2E
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 212-401-6930

**MAIL ADDRESS:**
- **STREET 1:** 149 5TH AVENUE
- **STREET 2:** SUITE 2E
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

## Text-Extract

```

United States securities and exchange commission logo

                             January 13, 2023

       Chuck Pettid
       President and Director
       Fig Publishing, Inc.
       149 Fifth Avenue, Floor 10
       New York, NY 10010

                                                        Re: Fig Publishing,
Inc.
                                                            Amendment No. 2 to
                                                            Offering Statement
on Form 1-A
                                                            Filed December 22,
2022
                                                            File No. 024-12017

       Dear Chuck Pettid:

             We have reviewed your amended offering statement and have the
following
       comments. In some of our comments, we may ask you to provide us with
information so we
       may better understand your disclosure.

              Please respond to this letter by amending your offering statement
and providing the
       requested information. If you do not believe our comments apply to your
facts and
       circumstances or do not believe an amendment is appropriate, please tell
us why in your
       response.

              After reviewing any amendment to your offering statement and the
information you
       provide in response to these comments, we may have additional comments.
Unless we note
       otherwise, our references to prior comments are to comments in our
November 22, 2022 letter.

       Amendment No. 2 to Offering Statement on Form 1-A

       Management's Discussion and Analysis of Financial Condition and Results
of Operations
       Regulation A+ Offering History, page 36

   1.                                                   In the table on page
37, you indicate that you have provided Fig Funds attributable to Fig
                                                        Portfolio Shares -
Series 2021 for eight video games. Please file the related Fig revenue-
                                                        sharing agreements for
these video games and disclose how the Fig Revenue Share is
                                                        calculated under each
agreement.
 Chuck Pettid
FirstName  LastNameChuck    Pettid
Fig Publishing, Inc.
Comapany
January 13,NameFig
            2023     Publishing, Inc.
January
Page 2 13, 2023 Page 2
FirstName LastName
General

2.       In your disclosure provided in response to prior comment 6, you
indicate that the Fig
         Share Termination Date is 60 months after the date that is the earlier
of (i) the date that the
         final Licensed Game under the Fig Revenue-Sharing Agreement is
published or (ii) March
         1, 2023. The Atari License Agreement indicates it is 60 months after
the date that is the
         earlier of (i) the date that the final Licensed Game under this
Agreement is published or
         (ii) December 1, 2022. Please revise. In addition, since it appears no
Licensed
         Game under the agreement was published before December 1, 2022,
clarify that the Fig
         Share Termination Date is December 1, 2027.
3.       Please highlight that the Fig Revenue Share Termination Date under the
Atari License
         Agreement, and thus the time period that investors in FGS-Atari can
receive dividends, is
         different from the revenue-sharing agreements for your previous series
of Fig Gaming
         Shares. Explain the difference and how the operation of the Atari
License Agreement has
         negative consequences to investors in FGS-Atari shares compared to the
other revenue-
         sharing agreements.
4.       Refer to our prior comment 11 and the disclosure under "Atari
Corporate History and Key
         Persons" on pages Atari-17 through Atari-19. Please revise this
disclosure so that it is
         clear which entity now owns Atari assets and intellectual property and
how that entity is
         related to Atari Interactive, Inc., the party to the Atari License
Agreement. Streamline the
         disclosure to provide information that would be material to investors
in FGS - Atari,
         whose dividends are dependent on the terms of the Atari License
Agreement and the video
         games Fig determines to fund with Fig Funds attributable to FGS -
Atari shares. Avoid
         giving the impression that investors in FGS - Atari are investing in
Atari itself by, for
         example, providing detailed disclosure about Atari's board of
directors or who owns
         equity and voting rights in Atari.
5.       In response to prior comment 8, you indicate that you replaced the
graph on page Atari
         21 illustrating potential cumulative dividends with a graph disclosing
the assumed time
         period of    estimated lifetime distributions    in light of the Fig
Share Termination Date. To
         the extent you retain this graph, disclose specific dates or years in
both the graph and the
         table based upon a reasonable estimation of when potential video games
could be
         identified, Fig Funds could be distributed for their development, the
approximate two to
         three years it takes to develop and publish the games, when the games
would be expected
         to generate revenues, and December 1, 2027. Disclose that, since it
may take several years
         for any Licensed Games to be identified, developed and start
generating revenues, holders
         of FGS-Atari shares may not receive dividends prior to the December 1,
2027 deadline for
         receiving dividends. This is because, even if Fig Funds are provided
before December 1,
         2027 for one or more Licensed Games, holders of FGS-Atari shares will
not be entitled to
         dividends on those Licensed Games if they begin generating revenues
and become
         commercially successful after December 1, 2027.
 Chuck Pettid
FirstName  LastNameChuck    Pettid
Fig Publishing, Inc.
Comapany
January 13,NameFig
            2023     Publishing, Inc.
January
Page 3 13, 2023 Page 3
FirstName LastName
      Please contact Kathleen Krebs, Special Counsel, at 202-551-3350 or Jan
Woo, Legal
Branch Chief, at 202-551-3453 with any other questions.

                                                        Sincerely,

                                                        Division of Corporation
Finance
                                                        Office of Technology
cc:      Anthony Ain, Esq.

```

### Attached PDF Documents

**Attachment 1:** `filename1`

![img-0.jpeg](img-0.jpeg)

CORPORATION FINANCE

# UNITED STATES  
SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549

January 13, 2023

Chuck Pettid  
President and Director  
Fig Publishing, Inc.  
149 Fifth Avenue, Floor 10  
New York, NY 10010

**Re: Fig Publishing, Inc.  
Amendment No. 2 to  
Offering Statement on Form 1-A  
Filed December 22, 2022  
File No. 024-12017**

Dear Chuck Pettid:

We have reviewed your amended offering statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure.

Please respond to this letter by amending your offering statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response.

After reviewing any amendment to your offering statement and the information you provide in response to these comments, we may have additional comments. Unless we note otherwise, our references to prior comments are to comments in our November 22, 2022 letter.

# Amendment No. 2 to Offering Statement on Form 1-A

# Management's Discussion and Analysis of Financial Condition and Results of Operations  
Regulation A+ Offering History, page 36

1. In the table on page 37, you indicate that you have provided Fig Funds attributable to Fig Portfolio Shares - Series 2021 for eight video games. Please file the related Fig revenue-sharing agreements for these video games and disclose how the Fig Revenue Share is calculated under each agreement.

Chuck Pettid
Fig Publishing, Inc.
January 13, 2023
Page 2

# General

2. In your disclosure provided in response to prior comment 6, you indicate that the Fig Share Termination Date is 60 months after the date that is the earlier of (i) the date that the final Licensed Game under the Fig Revenue-Sharing Agreement is published or (ii) March 1, 2023. The Atari License Agreement indicates it is 60 months after the date that is the earlier of (i) the date that the final Licensed Game under this Agreement is published or (ii) December 1, 2022. Please revise. In addition, since it appears no Licensed Game under the agreement was published before December 1, 2022, clarify that the Fig Share Termination Date is December 1, 2027.

3. Please highlight that the Fig Revenue Share Termination Date under the Atari License Agreement, and thus the time period that investors in FGS-Atari can receive dividends, is different from the revenue-sharing agreements for your previous series of Fig Gaming Shares. Explain the difference and how the operation of the Atari License Agreement has negative consequences to investors in FGS-Atari shares compared to the other revenue-sharing agreements.

4. Refer to our prior comment 11 and the disclosure under "Atari Corporate History and Key Persons" on pages Atari-17 through Atari-19. Please revise this disclosure so that it is clear which entity now owns Atari assets and intellectual property and how that entity is related to Atari Interactive, Inc., the party to the Atari License Agreement. Streamline the disclosure to provide information that would be material to investors in FGS - Atari, whose dividends are dependent on the terms of the Atari License Agreement and the video games Fig determines to fund with Fig Funds attributable to FGS - Atari shares. Avoid giving the impression that investors in FGS - Atari are investing in Atari itself by, for example, providing detailed disclosure about Atari's board of directors or who owns equity and voting rights in Atari.

5. In response to prior comment 8, you indicate that you replaced the graph on page Atari - 21 illustrating potential cumulative dividends with a graph disclosing the assumed time period of “estimated lifetime distributions” in light of the Fig Share Termination Date. To the extent you retain this graph, disclose specific dates or years in both the graph and the table based upon a reasonable estimation of when potential video games could be identified, Fig Funds could be distributed for their development, the approximate two to three years it takes to develop and publish the games, when the games would be expected to generate revenues, and December 1, 2027. Disclose that, since it may take several years for any Licensed Games to be identified, developed and start generating revenues, holders of FGS-Atari shares may not receive dividends prior to the December 1, 2027 deadline for receiving dividends. This is because, even if Fig Funds are provided before December 1, 2027 for one or more Licensed Games, holders of FGS-Atari shares will not be entitled to dividends on those Licensed Games if they begin generating revenues and become commercially successful after December 1, 2027.

Chuck Pettid
Fig Publishing, Inc.
January 13, 2023
Page 3

Please contact Kathleen Krebs, Special Counsel, at 202-551-3350 or Jan Woo, Legal Branch Chief, at 202-551-3453 with any other questions.

Sincerely,

Division of Corporation Finance
Office of Technology

cc: Anthony Ain, Esq.