# EDGAR Filing Document

**Accession Number:** 0002068385
**File Stem:** 0000000000-25-007018
**Filing Date:** 2025-7
**Character Count:** 12954
**Document Hash:** 4eab0ce34e6e5ab784db414882a30eef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-007018.hdr.sgml**: 20260702

**ACCESSION NUMBER**: 0000000000-25-007018

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250702

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SharonAI Holdings Inc.
- **CENTRAL INDEX KEY:** 0002068385
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 333-287287

**BUSINESS ADDRESS:**
- **STREET 1:** 745 FIFTH AVENUE, SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151
- **BUSINESS PHONE:** 949-720-7133

**MAIL ADDRESS:**
- **STREET 1:** 745 FIFTH AVENUE, SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SharonAI Holdings, Inc.
- **DATE OF NAME CHANGE:** 20251218

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Roth CH Holdings, Inc.
- **DATE OF NAME CHANGE:** 20250513
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001829126-25-003670

## Text-Extract

```

                                                            July 2, 2025

John Lipman
Chief Executive Officer
Roth CH Holdings, Inc.
2340 Collins Avenue, Suite 402
Miami, FL 33141

       Re: Roth CH Holdings, Inc.
           Amendment No. 1 to Registration Statement on Form S-4
           Filed June 4, 2025
           File No. 333-287287
Dear John Lipman:

     We have reviewed your amended registration statement and have the
following
comments.

        Please respond to this letter by amending your registration statement
and providing
the requested information. If you do not believe a comment applies 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 registration statement and the
information
you provide in response to this letter, we may have additional comments.

Form S-4/A filed June 04, 2025
Cover Page

1.     We note your disclosure that you may be a controlled foreign company.
Please clarify
       your disclosure to state, if true, that upon the completion of the
proposed merger, the
       combined company will be a "controlled company" under the Nasdaq listing
rules. To
       the extent necessary, please also add a risk factor discussing the risks
to shareholders
       related to owning shares in a controlled company.
Prospectus Summary, page 24

2.     Please provide a brief description in the prospectus summary of the
material terms of
       material financing transactions that have occurred or will occur in
connection with the
 July 2, 2025
Page 2

       consummation of the de-SPAC transaction, the anticipated use of proceeds
from these
       financing transactions, and the dilutive impact, if any, of these
financing transactions
       on non-redeeming shareholders. Refer to Item 1604(b)(5) of Regulation
S-K.
3.     Please revise the prospectus summary to include, in tabular format, the
terms and
       amount of the compensation received or to be received by the SPAC
sponsor, its
       affiliates, and promoters in connection with the de-SPAC transaction or
any related
       financing transaction, the amount of securities issued or to be issued
by the SPAC to
       the SPAC sponsor, its affiliates, and promoters and the price paid or to
be paid for
       such securities in connection with the de-SPAC transaction or any
related financing
       transaction; and, outside of the table, the extent to which that
compensation and
       securities issuance has resulted or may result in a material dilution of
the equity
       interests of non-redeeming shareholders of the special purpose
acquisition company.
       Refer to Item 1604(b)(4) of Regulation S-K.
Background of the Business Combination, page 122

4.     We note that the Roth CH Holdings trust account was liquidated and the
company
       delisted from NASDAQ. Please revise here and elsewhere as appropriate to
discuss
       the business purpose and reasons for the merger between Sharon AI and
Roth
       CH Holdings. In that regard, we note that there are no funds available
in the trust
       account for use by Sharon AI in effectuating its business plan, and the
transaction
       appears to contemplate substantial dilution to existing shareholders.
Finally, revise
       your risk factors to discuss any regulatory restrictions on the combined
entity due to
       the merger with a blank-check company.
Roth CH Board of Directors' Reasons for the Approval of the Business
Combination, page
125

5.     Please revise to clarify whether the board obtained any projected
financial metrics, or
       a fairness opinion from a financial advisor. To the extent such
information or opinion
       was reviewed by the board, please include a discussion of those
projections, and the
       opinion. To the extent they were not available to the board, please
provide a
       discussion regarding any potential limitations in evaluating the
business and revise
       your risk factors as appropriate.
The Business Combination Agreement , page 127

6.     We note that you are focused on the    Artificial intelligence field of
technology.
       Please expand your business operations disclosure to provide a
materially complete
       discussion regarding your artificial intelligence and high performance
computing,
       machine learning capabilities, and how they operate. In addition,
clarify what datasets
       your artificial intelligence use and whether you utilize third- party
artificial
       intelligence products.
Unaudited Pro Forma Combined Financial Information
Unaudited Pro Forma Combined Balance Sheet, page 177

7.     We note that you believe the Business Combination is not within the
scope of ASC
       805 because neither Domestication Sub or Roth meet the definition of a
business in
       accordance with ASC 805. We further note from adjustments 2(g) and 3(a)
that you
 July 2, 2025
Page 3

       are accounting for the Business Combination in accordance with ASC 718
with an
       expense reflected for the difference between the fair value of the
SharonAI Ordinary
       Shares issued to Roth shareholders as compared to the fair value of Roth
  s net
       liabilities. Tell us why you believe the transactions should be
accounted for in
       accordance with ASC 718 with compensation expense recognized for the
service of a
       stock exchange listing. Clarify why fair value of SharonAI shares issued
in exchange
       for Roth shares is included in these adjustments. Please cite the
authoritative literature
       that supports your presentation. Describe your consideration of
accounting for the
       reverse recapitalization as a capital transaction for the net monetary
assets of Roth and
       Domestication Sub. In addition, since there is a negative net monetary
assets it would
       appear that the transaction would result in a reduction of equity.
Further, given that
       the legal acquirer had a negative equity position, we believe that the
amount of the
       difference between the par value of securities owned by the shareholders
of the shell
       company and the net liability acquired should be charged to retained
earnings rather
       than additional paid- capital. That is, except for the Roth cash
transaction costs it
       appears the transaction should only impact equity. Please advise or
revise.
Unaudited Pro Forma Combined Statement of Operations, page 178

8.     Please explain why you have not included any transaction accounting
adjustments for
       the three months ended March 31, 2025.
Management's Discussion and Analysis of Financial Condition and Results of
Operations of
SharonAI, page 222

9.     Please tell us whether you performed interim and annual impairment tests
for
       goodwill and intangible assets and if so, revise your disclosures to
include critical
       accounting policies that discuss the results of the impairment analyses.
Also, given
       the materiality of your goodwill balance and to provide investors with
useful and
       meaningful information necessary to understand how you determined
whether
       an impairment charge is necessary as well as the probability of future
goodwill
       impairment, please revise to provide the following disclosures:

             the date that you perform your annual goodwill impairment test
each year;
             a discussion of how goodwill and intangible assets are tested,
including whether
           you performed a qualitative and/or quantitative test;
             the specific factors and critical assumptions used to estimate the
fair value of the
           reporting unit(s) and the degree of uncertainty associated with your
key
           assumptions;
             potential events and/or changes in circumstances that could
reasonably be
           expected to negatively affect your key assumptions and;
             the percentage by which the estimated fair value of your reporting
unit(s) exceed
           the carrying value and whether goodwill is at risk of impairment.
 July 2, 2025
Page 4
SharonAI Consolidated Financial Statements
Consolidated Statements of Changes in Stockholders' Equity, page F-88

10.    Please provide an itemized chronological schedule covering all SharonAI
equity
       instruments issued since the beginning of fiscal 2024 through the date
of your
       response. Please provide the following information separately for each
equity
       issuance:

             the date of the transaction;
             the identity of the recipient, indicating if the recipient was a
related party;
             nature and terms of the transactions;
             the number of shares issued;
             per share amount paid;
             management   s fair market value per share estimate and how the
estimate was
           made and;
             an explanation of how the fair value of the preferred stock and
common stock
           relate.

       Please reconcile each share issuance in your response to your
Consolidated
       Statements of Changes in Stockholders' Equity and cross reference such
amounts to
       the disclosures throughout your filing.
Notes to the Consolidated Financial Statements
Note 4. Acquisitions, page F-95

11.    We note from your disclosures that the DSS Acquisition completed by
SharonAI was
       accounted for using the acquisition method of accounting for business
combinations
       under the provisions in ASC 805 and the excess of the purchase price
over the
       identifiable intangible and net tangible assets is allocated to
goodwill. Please provide
       us with a detailed analysis that supports your accounting acquirer
conclusion and an
       evaluation of all the factors you considered in the identification of
the accounting
       acquirer. We refer you to ASC 805-10-55-11 through 55-15. As part of
your
       response, tell us your consideration of whether the DSS Acquisition
represents a
       common control transaction that is outside the scope of business
combination
       guidance and as such, the net assets of DSS should be recognized at
carryover
       basis. Specifically, address how you considered the guidance in ASC
805-10-15-4(c)
       and ASC 805-50-15-6.
General

12.    Please provide a tabular disclosure of the terms of any agreement,
arrangement or
       understanding regarding restrictions on transfers by the SPAC sponsor
and its
       affiliates. Refer to Item 1603 of Regulation S-K.
13.    Please provide tabular disclosure in the prospectus of the difference
between the price
       of securities issued in the SPAC   s IPO and its net tangible book value
per share. Refer
       to Item 1602 of Regulation S-K.
 July 2, 2025
Page 5
14.    Please revise to include a dilution table complying with the
requirements outlined in
       Item 1604(c) of Regulation S-K.
15.    Please revise throughout to comply with each of the applicable
components of Subpart
       1600 of Regulation S-K, or tell us why it is not required.

       Please contact Morgan Youngwood at 202-551-3479 or Stephen Krikorian at
202-
551-3488 if you have questions regarding comments on the financial statements
and related
matters. Please contact Uwem Bassey at 202-551-3433 or Matthew Derby at
202-551-3334
with any other questions.

                                                            Sincerely,

                                                            Division of
Corporation Finance
                                                            Office of
Technology
cc:   Alexandria Kane

```

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