Subject: File No. S7-06-13
From: Michael P Reaves, Ph.D.

August 21, 2013

To Whom It May Concern:

I believe that the SEC's new startup fundraising rules will be cumbersome and may require that startups spend too much capital on legal expertise that could be better spent on product development. I think that these additional rules will have the effect of stifling innovation and that they should not be adopted. I strongly oppose the adoption of these new rules.

Mike Reaves