From: Mark Smith
Sent: June 2, 2005
To: rule-comments@sec.gov
Subject: File No. 4-500

To whom it may concern:

Small issuers traded on the Pink Sheets and OTCBB deserve the same transparency and regulatory oversight of short selling as those listed on Exchange or the NASDAQ.

Regards,

Mark Smith
Managing Partner
Securities Compliance
direct (415) 446-5546
facsimile (415) 446-4124
skype msmithseccomp
www.securitiescompliance.com