From: Seth R. Freeman
Sent: May 17, 2006
Subject: File Number 4-519

I must get a dozen messages almost every day like the one attached.

It would seem to me the easiest and most direct and efficient approach would be for Pink Sheets to take action in its own hands and to punish the Pink Sheet listed companies that are the subjects of the spam. Suspend them and then de-list them.

If for example, you were to have an incrementally more severe punishment system leading to the removal or suspense of the listings of the subject Pink Sheet company as soon as spam is reported to Pink Sheets, I bet these companies would quickly begin to discover who is sending the spam (that many of them probably hired in the first place) and the volume of spam would go way down. If the companies do not trade, then there is no purpose in the spam. The legitimate companies will take care of themselves.

Seth R. Freeman, CIRA, CEO
EM Capital, Inc.